Single Trip Travel Insurance Market by Distribution Channel (Insurance Intermediaries, Insurance Companies, Banks, Insurance Brokers, and Insurance Aggregators), and End User (Senior Citizens, Education Travelers, Business Travelers, Family Travelers, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030
A single trip travel insurance policy provides coverage for one domestic or international trip. The policy will last until the traveler returns home from the trip. All insurance companies have a cap on the number of days that are to be counted as a single trip. The single trip insurance policy covers the costs and losses of an international trip or a domestic trip. Typically, the insurance policy covers 180 days. However, the period of coverage would depend on the insurance provider.
Rapid growth in tourism and increase in use of digital distribution channel among insurance providers boost the growth of the global single trip travel insurance market. In addition, favorable government regulations regarding travel insurance positively impacts the growth of the market. However, lack of awareness regarding single trip travel insurance policy hampers the market growth. On the contrary, introduction of new products and services and new technological developments in travel insurance industry are expected to offer remunerative opportunities for expansion of the single trip travel insurance market size during the forecast period.
The single trip travel insurance market is segmented into distribution channel, end user, and region. Depending on distribution channel, the market is bifurcated into insurance intermediaries, insurance companies, banks, insurance brokers, and insurance aggregators. In terms of end user, it is differentiated into senior citizens, education travelers, business travelers, family travelers, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the key players operating in the global single trip travel insurance market include AGA Service Company, Bajaj Allianz General Insurance Company, Care Health Insurance, GeoBlue, HDFC ERGO General Insurance Company Limited, ICICI Lombard General Insurance Company Ltd., IFFCO-Tokio General Insurance Company Limited, Nationwide, Reliance General Insurance, and World Nomads Travel Insurance. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
Key Benefits for Stakeholders
The study provides an in-depth analysis of the global single trip travel insurance market forecast along with the current & future trends to explain the imminent investment pockets.
Information about key drivers, restraints, & opportunities and their impact analysis on global single trip travel insurance market trends is provided in the report.
Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the single trip travel insurance industry.
The quantitative analysis of the single trip travel insurance market share from 2021 to 2030 is provided to determine the market potential.
Key Market Segments
By Distribution Channel
Insurance Intermediaries
Insurance Companies
Banks
Insurance Brokers
Insurance Aggregators
By End User
Senior Citizens
Education Travelers
Business Travelers
Family Travelers
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
Netherlands
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
AGA Service Company
Bajaj Allianz General Insurance Company
Care Health Insurance
GeoBlue
HDFC ERGO General Insurance Company Limited
ICICI Lombard General Insurance Company Ltd.
IFFCO-Tokio General Insurance Company Limited
Nationwide Mutual Insurance
Reliance General Insurance
World Nomads Travel Insurance
List of Company Profiles
AGA Service Company
Bajaj Allianz General Insurance Company
Care Health Insurance
GeoBlue
HDFC ERGO General Insurance Company Limited
ICICI Lombard General Insurance Company Ltd.
IFFCO-Tokio General Insurance Company Limited
Nationwide
Reliance General Insurance
and World Nomads Travel Insurance.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook