The Travel Insurance Market Report is Segmented by Coverage Type (Single-Trip Travel Insurance and Annual Multi-Trip Travel Insurance), by Product Type (Trip Cancellation/Delay, Travel Medical Insurance (Personal Accident), and Other Product Types), by Distribution Channel (Insurance Companies, Insurance Intermediaries, Banks, Insurance Brokers and Other Distribution Channels), and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). The Report Offers Market Size and Forecasts for all the Above Segments in Value Terms in USD.

The revenue of the global travel insurance market is predicted to be nearly eight times larger in 2030 than it was in 2021. Sized at approximately 14.3 billion U.S. dollars in 2021, the market is expected to reach the size of around 108.8 billion U.S. dollars by 2030, according to Next Move Strategic Consulting. The source attributed this to an outlook that vaccinations, growing business travels, and the availability of online booking sites will lead to the global travel industry to recover from the coronavirus pandemic.

The Report Covers travel insurance companies in USA and it is Segmented By Insurance Coverage (Single-Trip Travel Insurance and Annual Multi-trip Travel Insurance), By Distribution channels (Insurance Intermediaries, Insurance Companies, Banks, Insurance Brokers, and Others) and By End-User (Senior Citizens, Business Travelers, Family Travelers, and Others (Education Travelers, etc.)). The report offers market size and forecasts for the United States Travel Insurance Market in value (USD Billion) for all the above segments.

The corporate travel insurance market size was over USD 5.73 billion in 2024 and is anticipated to cross USD 58.7 billion by 2037, growing at more than 19.6% CAGR during the forecast period i.e., between 2025-2037. Europe industry is expected to dominate majority revenue share by 2037, driven by increasing number of business travelers with high travel spending, increasing trend of travel and tourism, and significant economic growth of the region.

The global travel insurance market size reached USD 20.0 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 50.4 Billion by 2033, exhibiting a growth rate (CAGR) of 10.77% during 2025-2033. There are various factors that are driving the market, which include the rising focus on enhanced convenience during purchasing, managing, and utilizing services, favorable government initiatives, and increasing demand for personalized and customized traveling solutions.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2025-2033. Our report has categorized the market based on insurance type, coverage, distribution channel, and end user.

The Report Covers European Travel Insurance Companies and it is Segmented By Insurance Coverage (Single-Trip Travel Insurance, Annual Multi-trip Travel Insurance, and Others), By Distribution channels (Direct Sales, Online Travel Agents, Airports And Hotels, Brokers, and Other Insurance Intermediaries), By End-User (Senior Citizens, Business Travelers, Family Travelers, and Others (Education Travelers, etc.) and by Country (Germany, United Kingdom, France, Italy, Spain, and Rest of Europe). The Market size and forecasts for Europe Travel Insurance Market are provided in terms of value (USD Million) for all the above segments.

The German Travel Insurance Market Report is Segmented by Coverage Type (Single-Trip Travel Insurance and Annual Multi-Trip Travel Insurance), Distribution Channel (Insurance Intermediaries, Insurance Companies, Banks, Insurance Brokers, and Insurance Aggregators), and End User (Senior Citizens, Education Travelers, Business Travelers, Family Travelers, and Other End Users). The Report Offers Market Size and Forecasts in Value (USD) for all the Above Segments.

The Report Covers Travel Insurance Companies in Saudi Arabia and It is Segmented by Insurance Coverage (Single-Trip Travel Insurance, Annual Multi-Trip Travel Insurance, and Others), by Distribution Channels (Direct Sales, Online Travel Agents, Airports and Hotels, Brokers, and Other Insurance Intermediaries), and by End-User (Senior Citizens, Business Travelers, Family Travelers, and Others (Education Travelers, Etc. )). The Report Offers Market Size and Forecast Values for the Saudi Arabia Travel Insurance Market in USD Million for the Above Segments.

[217+ Pages Report] The global Corporate Travel Insurance market size is expected to grow from USD 3,729.40 million to USD 10,274.23 million by 2028, at a CAGR of 18.40% from 2022-2028

Types of travel insurance coverage:Single-Trip Travel InsuranceAnnual Multi-Trip Travel InsuranceLong-Stay Travel InsuranceDistribution channels:Insurance Intermediaries (agents, brokers)Insurance CompaniesBanksInsurance BrokersInsurance AggregatorsEnd users:Senior CitizensEducation TravelersBusiness TravelersFamily TravelersOthersAge groups:1-17 Years Old18-30 Years Old31-49 Years OldAbove 50 Recent developments include: May 2022: Generali Group secured a 25% ownership in Future Generali India Insurance (FGII), granting Generali Group a controlling interest in FGII, which ranks as the 7th largest non-life insurer in India. This acquisition enables Generali Group to broaden its footprint in the Indian market and provide an extensive array of travel insurance offerings to Indian travelers., February 2023: Vistara established a partnership with Allianz Partners to present optional travel insurance to its passengers. During the booking procedure for domestic and international flights, customers now have the opportunity to select travel insurance.. Key drivers for this market are: Increasing Customer Preference for Convenience, Premium Features, and Advanced Safety 41, Improved Comfort, New Materials and Autonomous Technologies Driving demand for innovative seats. Potential restraints include: Significant Power Consumption in Automotive Interior Electronics 43, Fluctuation in Raw Material Prices of automotive interior 44. Notable trends are: Growing tourism industry and government initiatives mandating travel insurance are driving the market growth.

The size and share of the market is categorized based on geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

The size and share of the market is categorized based on Type (Personal Insurance, Group Insurance) and Application (Agency, Digital & Direct Channels, Brokers, Bancassurance) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

China Travel Insurance Market has valued at USD 5322.45 Million in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 9.67% through 2028.

The Report Covers Travel Insurance Companies in India and the Market is Segmented By Insurance Coverage (Single-Trip Travel Insurance, Annual Multi-trip Travel Insurance, and Others), By Distribution channels (Direct Sales, Online Travel Agents, Airports And Hotels, Brokers, and Other Insurance Intermediaries) and By End-User (Senior Citizens, Business Travelers, Family Travelers, and Others (Education Travelers, etc.). The market size and forecast values for the India Travel Insurance Market are Provided in USD million for the above segments.

[235+ Pages Report] The global Travel Insurance market size is expected to grow from USD 13,193.40 million in 2021 to USD 49,132.95 million by 2028, at a CAGR of 24.50% from 2022-2028

The size and share of the market is categorized based on Application (Medical travel insurance, Trip cancellation insurance, Baggage loss insurance, Travel accident insurance) and Product (Emergency medical coverage, Trip interruption, Lost baggage compensation, Travel accident protection) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

Global Business Travel Insurance market size will be USD 19.98 Billion by 2030. Business Travel Insurance Industry's Compound Annual Growth Rate will be 18.79% from 2023 to 2030.

In 2023, Sweden Travel Insurance Market reached a value of USD 258.5 million, and it is projected to surge to USD 623.0 million by 2030

Travel Insurance market will be growing at a CAGR of 13.48% during 2025 to 2033.

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What is the Personal Travel Accident Insurance Market Size?

The personal travel accident insurance market size is forecast to increase by USD 45.3 billion and a CAGR of 7.4% between 2024 and 2029. The market is experiencing significant growth due to several key factors. The increasing number of travel accidents has led to a higher demand for insurance coverage. Additionally, the availability of insurance products and services through digital channels has made it more convenient for consumers to purchase policies. However, concerns related to cyberattacks in the insurance industry pose a challenge to market growth. As the industry continues to digitalize, insurers must prioritize cybersecurity to protect sensitive customer information and maintain trust. Moreover, leveraging data analytics and artificial intelligence, insurers offer customized policies at competitive prices, attracting a substantial customer base. Overall, the market is expected to witness steady growth in the coming years as consumers seek peace of mind while traveling.

What will be the size of Market during the forecast period?

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Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019 - 2023 for the following segments.

Age Group

  Adults
  Senior citizens
  Children


Type

  General personal travel accident insurance
  Premium personal travel accident insurance


Geography

  North America

    Canada
    US


  Europe

    Germany
    UK
    France


  APAC

    China
    India
    Japan


  Middle East and Africa



  South America

    Brazil

Which is the largest segment driving market growth?

The adults segment is estimated to witness significant growth during the forecast period. Personal travel accident insurance caters to adults aged 18 and above, offering protection against unforeseen injuries during travel. The market's expansion is fueled by the increasing popularity of adventure activities and the rising number of travel accidents. One common type of coverage is accidental death or dismemberment (AD and D) insurance.

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The adults segment was the largest segment and valued at USD 55.70 billion in 2019. This policy provides financial compensation in the event of fatalities or severe injuries resulting in the loss of limbs, sight, or hearing. Professionals in high-risk industries, such as construction or sports, particularly benefit from this coverage. The economic growth in North America and the increasing demand for enhanced security during travel contribute to the market's expansion. Direct sales channels and improved customer experience are also key factors driving the market's growth. Seek professional assistance for comprehensive travel accident insurance solutions. Hence, such factors are fuelling the growth of this segment during the forecast period.

Which region is leading the market?

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North America is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Personal travel accident insurance is a crucial financial safety net for North Americans embarking on domestic or international journeys, particularly for those engaging in adventure sports. Vendors cater to this demand by providing customized policies, integrating telematics to assess risks, and ensuring comprehensive coverage for medical expenses overseas, trip cancellations, and disability or death benefits. The market's expansion is driven by several factors, including the increasing number of road accidents resulting in fatalities, the growing need for air ambulance services, and the aging population. Employers also play a significant role by offering insurance coverage as part of their corporate commitment to employee welfare. Insurance intermediaries facilitate the process by providing valuable insights and guidance to consumers, ensuring they make informed decisions when selecting the most suitable policy for their travel needs.

How do company ranking index and market positioning come to your aid?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Allianz SE: The company offers personal travel accident insurance such as Bajaj Allianz individual travel insurance, which cover medical costs related to medical evaluation and repatriation, detaining or losing checked baggage entirely, missing connection