Taking off: Travel insurance revenue will rise as operators expand to niche markets
The Travel Insurance market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.
Industry Statistics & Market Size
Annual Growth 08-13
Annual Growth 13-18
Industry Analysis & Industry Trends
Travel insurers faced steep revenue declines during the recession. Declining consumer disposable income meant fewer people were traveling and purchasing travel insurance. However, the industry returned to growth in 2010. Consumers became more sensitive to the potential losses associated with airline delays and cancellations, prompting them to buy travel insurance. The industry is expected to continue growing over the next five years and expand into niche markets catering to students and business travelers.... purchase to read more
Industry Report - Industry Analysis Chapter
The US Travel Insurance industry provides peace of mind to US residents travelling internationally by providing coverage for unexpected travel and medical expenses. Industry firms underwrite (i.e. assume the risk for potential costs in exchange for fees known as premiums) travel insurance policies covering primarily trip protection, personal effects protection, emergency medical assistance and accidental death. The industry primarily derives revenue from premium fees, which average 5.0% to 7.0% of the total travel expenses and liability risk covered... purchase to read more
What is the Travel Insurance Industry?
This industry underwrites (i.e. assumes, pools and spreads out risk of financial losses over policyholders in exchange for premiums) travel insurance policies. Coverage can include losses from trip cancellation and delay, lost baggage and medical emergencies.
CancellationDelayTrip interruptionEmergency medicalPersonal effectsAccidental death
Providing trip protection and delay insuranceProviding baggage insurance or personal effects coverageProviding emergency medical assistanceProviding accidental death coverageProviding trip protection and delay insuranceProviding baggage insurance or personal effects coverageProviding emergency medical assistanceProviding accidental death coverage