Travel Insurance Market to Grow by USD 12.61 Billion During 2021-2025|Featuring Allianz Group, American Express Co., and American International Group Inc. as Key Market Players|Technavio

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Travel insurance market: Growing tourism and business travels
The travel and tourism industry has witnessed substantial growth in recent years. The government of numerous countries has made it mandatory to attach travel insurance documents while applying for visas, which is also contributing to market growth. Major market vendors such as AXA and Allianz Group are incorporating digital tools to garner a larger customer base. Some insurers are offering insurance cover for COVID-19-related medical expenses for inbound travelers and extending the expiration period without adding extra charges in their policies. Government organizations of different countries are launching initiatives to boost international tourism, which will fuel the demand during the forecast period. Hence, the growth of the tourism industry will fuel gross premiums for the travel insurance market during the forecast period.

“The emerging technological developments and growing demand for travel insurance will further boost market growth during the forecast period”, says a senior analyst at Technavio.

Key Questions Answered in the Report:

  • Which are the leading segments in the travel insurance market?
  • What are the major challenges inhibiting the growth of the travel insurance market?
  • What are the key trends and opportunities to be explored in the travel insurance market?
  • Who are the major vendors, and what are their key offerings in the travel insurance market?

Find more details on the travel insurance market:

Leading Travel Insurance Market Participants

Allianz Group
Allianz Group offers travel insurance policies through various business segments such as Property Casualty, Life or Health, Asset Management, Corporate and Other segments.

American Express Co.
American Express Co. provides travel insurance policies through various business segments such as Global consumer services group, Global commercial services, and Global merchant and network services.

American International Group Inc.
American International Group Inc. operates and offers travel insurance policies through various business segments such as General Insurance, Life and Retirement, Legacy Portfolio Other Operations segments.

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Technavio Research
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