Latest published report on the Global Travel Insurance Market, found on the Qualiket Research website revealed a great deal about various market dynamics. These driving factors influence the market from a very miniscule level to its holistic standard and can traverse limitations to assist the market achieve a significant growth rate over the analysis period of 2021-2027. The report is based on an extensive study supervised by adept analysts. Their sound knowledge and expertise in the field help in unearthing of factors and figures. The report is fulfilled with a volume-wise and value-wise analysis.
Travel insurance is mainly designed to cover the cost and losses associated with travelling. Travel insurance is useful protection for those travelling domestically or internationally. It is specialized form of insurance intended to cover financial default, medical expenses, and other sources of financial loss during travelling.
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A recent report found on Qualiket Research Reports provides a comprehensive overview of the industry with a brief explanation. This overview discusses the definition of the product/service, primary applications of this product or service in different end-use industries. It also states the production and management technology employed for the same. The global Travel Insurance Market report has provided an in-depth analysis into some recent and noteworthy industry trends, the competitive landscape and analysis for specific regional segments for the forecast period of 2021 to 2027.
Increase in tourism which led to several incidences like trip cancellers, loss of luggage and important documents, and medical emergencies is the key driving factor for market which is expected to boost the global travel insurance market growth. Furthermore, increase in disposable income, easy online travel bookings, extensive coverage of holidays, package holidays, and others positively contribute the market growth. Also, convenient options offered to customers for travel insurance purchases through online comparison shopping sites like direct airline sites and online travel agencies, company websites and applications will fuel the market growth over the forecast period. In addition to that, travel insurance providers offer various plans by covering costs and losses depending on coverage in the policy which is expected to propel the global travel insurance market growth.
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However, lack of awareness regarding travel insurance policies, and low consumer experiences in terms of coverage are major restraining factors which are expected to hinder the global travel insurance market growth during this analysis period.
For an accurate determination of the Travel Insurance Market’s potential, the market has been analysed using Porter’s Five Force Model for the forecast period of 2021-2027. Additionally, a detailed SWOT analysis has been conducted to aid the reader’s decision making with regards to Travel Insurance Market.
Global Travel Insurance Market is segmented into insurance cover such as Single-Trip Travel Insurance, Annual Multi-Trip Travel Insurance, and Long-Stay Travel Insurance, by distribution channel such as Insurance Intermediaries, Insurance Companies, Banks, Insurance Brokers, and Insurance Aggregators. Further, market is segmented into end user such as Senior Citizens, Education Travelers, Business Travelers, Family Travelers, and Others.
Also, Global Travel Insurance Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market Key Players
Various key players are discussed in this report such as Allianz Group, American International Group Inc., Assicurazioni Generali S.P.A, AXA, Insure & Go Insurance Services Limited, Seven Corners Inc., Travel Insured International, TravelSafe Insurance, USI Insurance Services , and Zurich Insurance Co. Limited
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