Travel Insurance Market 2018: Global Opportunity Analysis and Industry Forecasts 2025

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Global Travel Insurance Market 

• Size by Type (Medical Expenses, Trip
  Cancellation, Trip Delay, Property Damage), by
  Application (Domestic Travel, International
  Travel), by Type of Travel (Business Travel,
  Leisure Travel), By Region and Forecast 2018 to
  2025

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2
Global Travel Insurance Market Size To Cross The
USD 35 Billion Mark By 2025

• The global travel insurance market size is
  expected to be valued at more than USD 35 billion
  by 2025 owing to increasing levels of tourism
  globally. The global tourist arrivals reached
  approximately 11.9 billion in 2017.
• Tourism has become the largest component of
  international trade in services, constituting 25
  of total share. Thus, tourism growth has provided
  an impetus to travel insurance companies to
  capitalize on the rising demand for insurance
  among travellers. The rising awareness amongst
  young travellers regarding the need to secure
  their travel against medical and non-medical
  contingencies is a major factor driving the
  growth of global travel insurance industry.
• Insurance providers are increasing their
  value-added services to achieve product
  differentiation from their competitors and to
  maintain better customer relationships. Recent
  market trends include the usage of data analytics
  to predict risks and formulate precise
  contingency plans. For instance, insurers can
  monitor weather conditions and notify their
  customers in advance, so that they can plan their
  trips accordingly. Such travel insurance industry
  trends are majorly being adopted by travel
  insurance providers located in the U.S. The U.S.
  travel insurance market size is estimated to
  cross USD 8 bn mark by the end of 2025.
• Browse the complete report on _at_
  https//www.adroitmarketresearch.com/industry-repo
  rts/travel-insurance-market

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Global Travel Insurance Market Size To Cross The
USD 35 Billion Mark By 2025

• On the basis of type, the medical expense segment
  is anticipated to witness the highest growth
  during the forecast period. Medical expense
  coverage is crucial since it covers the cost of
  emergency treatment as well as any other overhead
  cost occurring at the time of travel. The
  uncertainty while travelling to foreign lands can
  pose health hazards and therefore, many countries
  have made travel insurance mandatory to issue
  VISA.
• Geographically, Asia Pacific held the largest
  share in global travel insurance market. This has
  been attributed to the high demand for corporate
  travel insurance from countries such as China,
  Japan and Korea. The growing segment of
  travellers in countries such as India is
  providing tremendous opportunities to insurance
  companies and travel agencies to tap into.
  However, in terms of growth rate, Latin America
  is expected to exhibit the highest growth of 8.8
  over the forecast period. Travel insurance is
  gaining popularity in several developing
  countries of Europe. UK travel insurance market
  share is expected to witness a decrease due to
  decline in the number of travellers.
• Companies including Allianz SE, Munich
  Reinsurance America, Inc., American Express
  Company, Travelex Insurance Services, Atlas
  Travel Insurance Services Ltd, Aviva PLC, Saga
  Plc, Bajaj Finserv Limited, China Pacific Life
  Insurance Co., Ltd., MSAD Insurance Group
  Holdings, Inc., Munich Reinsurance Company, Ping
  An Insurance Company of China, Ltd., China Life
  Insurance Company Limited., MAPFRE Insurance
  Company Inc., Prudential Financial Inc., and
  Chubb Limited amongst others have a broader
  presence within the global market.

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Key Segments of the Global Travel Insurance Market

• Type Overview, 2015-2025 (USD Million)
• Medical Expenses
• Trip Cancellation
• Trip Delay
• Property Damages
• Application Overview, 2015-2025 (USD Million)
• Domestic Travel
• Outbound Travel
• Type of Travel Overview, 2015-2025 (USD Million)
• Business Travel
• Leisure Travel

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Key Segments of the Global Travel Insurance Market

• Regional Overview, 2015-2025 (USD Million)
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East Africa
• Purchase a single user copy of the global Travel
  Insurance market report _at_ https//www.adroitmarket
  research.com/researchreport/purchase/78

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