Insight by Abdul Wasay, Chief Operating Officer at The Business Research Company
In response to fluctuating tariffs and geopolitical trade developments, the Travel Insurance Market Outlook 2025 analyses how businesses are adapting through supply chain diversification and strategic sourcing.
What Are the Key Forecast Insights for the Travel Insurance Market Growth?
The Travel Insurance Global Market had a significant expansion in the recent past. The market size escalated from $26.36 billion in 2024, and it is expected to reach $30.77 billion in 2025. The Compound Annual Growth Rate (CAGR) for this period is projected to be 16.8%.
What Is the Predicted Industry Size and CAGR of the Travel Insurance Market in 2029?
The anticipated market size for the Travel Insurance Global Market Report 2025 in 2029 is projected to be $57.26 billion, expanding at a compound annual growth rate (CAGR) of 16.8%.
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Which Factors Are Driving Growth in the Travel Insurance Market?
The key drivers in the travel insurance market are:
• Rising demand for embedded, event-driven insurances
• Increasing awareness of travel-related risks
• Escalating medical costs
• Focus on digitalization, including tech-driven platforms, mobile integration, and blockchain technology.
Which Segment Trends Are Covered in the Travel Insurance Market Forecast?
The travel insurance market covered in this report is segmented –
1) By Type: Domestic, International
2) By Insurance Cover: Single-Trip Travel Insurance, Annual Multi-Trip Travel Insurance, Long-Stay Travel Insurance
3) By Coverage: Medical Expenses, Trip Cancellation, Trip Delay, Property Damage, Other Coverages
4) By Distribution Channel: Insurance Intermediaries, Insurance Companies, Banks, Other Distribution Channels
5) By End User: Senior Citizens, Corporate Travelers, Family Travelers, Education Travelers, Other End-Users
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What Are the Current Market Trends in the Travel Insurance Industry?
The key trends in the travel insurance market are:
• The market is increasingly focusing on tech-driven platforms.
• Digitalization and mobile integration are emerging as significant trends.
• There is a growing emphasis on the application of blockchain technology.
• The future is being shaped by strategic partnerships and collaborations.
Who are the Key Companies in the Travel Insurance Market?
Major players in the travel insurance market are:
• Allianz Group
• Axa S.A
• Berkshire Hathaway Specialty Insurance Company
• Zurich Insurance Group AG
• American International Group Inc.
• American Express Company
• Chubb Limited
• Aviva Plc
• Seven Corners Inc
• Travelex Insurance Services Inc.
• Corporate Risks India Insurance Brokers Pvt Ltd
• TATA AIG
• New India Assurance – General Insurance Brokers
• Oriental Insurance Company
• ICICI Lombard General Insurance Company
• United India Insurance
• HDFC ERGO Non-Life Insurance Company
• Fanhua Holdings
• Insubuy LLC
• China Life Insurance Company Limited
• SafetyWing
• Genki
• Insured Nomads
• Sompo Japan Nipponkoa Insurance Inc
• Mitsui Sumitomo Insurance Co. Ltd.
• Ping an Insurance Company of China
• People's Insurance Company (Group) of China
• China Pacific Insurance (Group) Co. Ltd
• New China Life Insurance
• Marsh & McLennan Companies UK Limited
• Aon UK Limited
• Arthur J Gallagher & Co
• Willis Towers Watson plc
• Lloyd's of London Limited
• Funk Gruppe GmbH
• Ecclesia Holding GmbH
• Hannover Re
• Crédit Agricole Assurances
• Sogaz Insurance Group
• Ingosstrakh Insurance Co
• Marsh McLennan
• UNIQA
• Ceská Pojištovna
• MetLife Inc.
• Assicurazioni Generali
• Groupama
• RSHB Insurance
• Soglasie Insurance Company
• Sberbank Insurance Company LLC
• John Hancock Insurance Agency
• Trawick International
• USI Affinity Travel Insurance Services
• GoReady Insurance
• TU AGENCIA DE SEGUROS CO
• 111 Seguros Ltda
• Agencia de seguros
• BSB Capital Corretora de Seguros
• Indeniza Corretora em Balsas MA
• Emirates Insurance Co.
• Sukoon Insurance
• Union Insurance
• Doha Insurance Group
• Qatar Insurance Co
• KIB Takaful Insurance Company
• Gulf Insurance Group
• Misr Life Insurance
• QNB Alahli Life Insurance
• Care Line Group
• De Wet De Villiers
• Travelinsure
• Lensure Insurance Brokers Cc
• Travel Africa Insurance
• Oojah Travel Protection
• Takaful Insurance of Africa
• Bryte Insurance Company Limited
What are the Regional Trends Across the Travel Insurance Market?
Asia-Pacific was the largest region in the travel insurance market in 2024
