Annual Travel Insurance Market Scope
Annual Travel Insurance is also known as annual multi-line insurance. With a multi-trip insurance policy, an insured person will get insurance coverage for multiple trips to a particular location over a certain variable tenure. Such a travel policy helps to save on premium as compared to buying an individual travel insurance policy for each trip. The major trends in this industry are the rapid development of new distribution models and huge technological development. It is a cost-effective way of protection for domestic as well as international travel. Its coverages include medical expenses, flight accident coverage, accidental death, and baggage, and personal effect coverage.
The Annual Travel Insurance market study is segmented and major geographies with country level break-up.
The travel insurance market is fragmented owing to the number of players present in the market. Market leaders are focusing on providing better customer service and technological development for a better user interface. Increasing government initiatives towards improving regulation in tourism for the safety of travelers expected to increase the sale of travel insurance over the forecasted period. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Annual Travel Insurance market throughout the predicted period.
Allianz (Germany), AIG (United States), Munich RE (Germany), Generali (Italy), Tokio Marine (Japan), Sompo (Japan), CSA Travel Protection (United States), AXA (France), Mapfre (Spain), USI Affinity (United States) and Seven Corners Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Hanse Merkur (Germany) and MH Ross Travel Insurance Services Inc. (United States).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
AdvanceMarketAnalytics has segmented the market of Global Annual Travel Insurance market by Type, Application and Region.
On the basis of geography, the market of Annual Travel Insurance has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
On 5 Feb 2019, Europ Assistance, part of Generali Group, announces that it has acquired from Arthur J. Gallagher a 100% stake of Trip Mate, a managing general agent leader in the tour operator travel insurance market in the United States.
- Development in Digital Insurance
- Emphasis on Online Platform to Sale Annual Travel Insurance
- Increasing Tourism is Fuelling the Market Growth
- Expansion Of Overseas Business
- Technological Developments in the Travel Insurance Industry
- Government Initiatives to Improve Travel Rule and Regulation
- Stringent Regulations towards Travel Insurance
- Less Awareness Towards Group Travel Insurance Policies, Lack of Consumer Experiences in Terms of Its Coverages, Premium Rates
Key Target AudienceTravel Insurance Provider, Travel Insurance Agencies, Business Entities, Government Regulatory and Research Organizations, Investment Research Firms / Associations, Government Organizations and Others
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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