Press release
Travel Insurance Market Will Surpass USD 41,807 Million By 2027
Facts and Factors Market Research has published a new report titled “Travel Insurance Market By Trip Type (Single Trip Travel Insurance, Annual Multi-Trip Travel Insurance, and Long-Stay Travel Insurance), By Insurance Cover (Medical Treatment, Loss, Damage, & Theft, Resuming Your Journey, Cancellation Insurance, Lump Sum Payments, Caretaker Coverage, Death, and Itinerary), By Distribution Channel (Insurance Intermediaries, Insurance Company, Insurance Broker, Bank, and Insurance Aggregator), By Payment Method (Monthly Outstanding Balance Method and Single Payment Method), and By End-User (Senior Citizens, Backpackers, Education Traveler, Family Traveler, Business Traveler, and Fully Independent Traveler): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2027”. According to the report, the global Travel Insurance market is predicted to be valued at approximately USD 20,027 million in 2018 and is expected to reach a value of around USD 41,807 million by 2027, at a CAGR of around 7.64 % between 2019 and 2027.
Travel insurance is utilized to enhance the efficacy of the credit management operations, helping the staff to utilize the time to concentrate on the high priority jobs. Firms also adopt travel insurance for offering a seamless experience to the customers, thereby improving consumer relationships and retaining customers.
Request Free Sample Copy of Research Report @ http://bit.ly/2TljgeI
On other hand, travel Insurance is also available as the insurance software that arranges and restructures credit management workflows along with the storage of vital data along with preparation and performing of myriad routine tasks by the credit management team. Travel Insurance can also be blended into the complete organization and is also the component of other software systems.
Furthermore, some of the travel insurance software packages will integrate accounts receivables across the whole organization so that each function can help in accessing payment information whenever required. While other travel insurance software packages offer role-based operations and the probability of data sharing with particular roles in the company. This, in turn, gives everyone in the organization a complete overview of the consumer experience.
Increase in the business travels to steer the market trends
The surge in population has helped the business grow across the globe with many of the firms setting up offices abroad. This is likely to result in a rise in the business travels of the employees, thereby resulting in the growth of the travel insurance market. With strict enforcement of travel insurance laws across the developed countries like the U.S. and the UK, the market for travel insurance is likely to gain traction over the forecast timeline.
Inquire more about this report before purchase @ http://bit.ly/36U48J4
Furthermore, the rise in the tourist activities & thriving tourism sector will further enlarge the scope of the market over the forecast period. Nonetheless, unavoidable situations like the outbreak of war and pre-existing health issues can pose a threat to the market growth during the period from 2019 to 2027. However, emerging economies are trying to make the purchase of travel insurance mandatory and this, in turn, will offer lucrative opportunities for the market over the forecast period.
Single trip travel insurance to lead the trip type segment by 2027 in terms of revenue
The growth of the single trip travel insurance segment during the forecast timeline is due to the cost-effectiveness of the single trip travel insurance along with growing trends of honeymoon tours in foreign countries, affordability of the single trip travel insurance, and shopping trips overseas.
Insurance aggregator segment to record highest CAGR over the forecast timeline
The segment is predicted to register the highest growth rate of over 11% during the forecast period due to the ability of the insurance aggregator to provide the potential consumer with the insurance quotes along with the opportunity of discussing a particular quote. Apart from this, it also transfers the data of the prospective lead to the insurer for the latter to contact the potential customer for convincing him/her to buy the travel insurance policy.
Browse the full “Travel Insurance Market By Trip Type (Single Trip Travel Insurance, Annual Multi-Trip Travel Insurance, and Long-Stay Travel Insurance), By Insurance Cover (Medical Treatment, Loss, Damage, & Theft, Resuming Your Journey, Cancellation Insurance, Lump Sum Payments, Caretaker Coverage, Death, and Itinerary), By Distribution Channel (Insurance Intermediaries, Insurance Company, Insurance Broker, Bank, and Insurance Aggregator), By Payment Method (Monthly Outstanding Balance Method and Single Payment Method), and By End-User (Senior Citizens, Backpackers, Education Traveler, Family Traveler, Business Traveler, and Fully Independent Traveler): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2027” Report at http://bit.ly/2FKQ2Ot
Europe to contribute majorly towards the overall market revenue share by 2027
The growth of the regional market during the forecast period is owing to the high purchase of travel insurance policies by families and groups in the European countries. Countries like the UK, France, Germany, and Italy are likely to be major drivers of the regional market growth over the forecast period.
Some of the key participants in the business include Apruve, Cforia Software Inc., Credit & Management Systems, Inc., Creman Debasso, Emagia Corporation, Innovation Software Limited, Solutions For Financials B.V., Prof. Schumann GmbH, Viatec Business Solutions Ltd., SystemPartner Norge AS, SOPLEX Consult GmbH, Triple A Solutions, Hanse Orga Group, Credit Management tools.com, Xolv BV, BVCM Collections BV, Care & Collect, Onguard, Credica Limited, HighRadius, Rimilia, Equiniti, Debtpack, Misys, and Esker.
Request customized copy of report @ http://bit.ly/37ZmzfA
This report segments the Travel Insurance market as follows:
Travel Insurance Market: By Trip Type Analysis
Single Trip Travel Insurance
Annual Multi-Trip Travel Insurance
Long-Stay Travel Insurance
Travel Insurance Market: By Insurance Cover Analysis
Medical Treatment
Loss, Damage, & Theft
Resuming Your Journey
Cancellation Insurance
Lump Sum Payments
Caretaker Coverage
Death
Itinerary
Travel Insurance Market: By Distribution Channel Analysis
Insurance Intermediaries
Insurance Company
Insurance Broker
Bank
Insurance Aggregator
Travel Insurance Market: By Payment Method Analysis
Monthly Outstanding Balance Method
Single Payment Method
Travel Insurance Market: By End-User Analysis
Senior Citizens
Backpackers
Education Traveler
Family Traveler
Business Traveler
Fully Independent Traveler
Travel Insurance Market: By Regional Segment Analysis
North America
The U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa
Contact Us:
Facts & Factors
Global Headquarters
Level 8, International Finance Center, Tower 2,
8 Century Avenue, Shanghai,
Postal - 200120, China
Tel: +86 21 80360450
Email: sales@fnfresearch.com
Web: https://www.fnfresearch.com
About Us:
Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.
Travel insurance is utilized to enhance the efficacy of the credit management operations, helping the staff to utilize the time to concentrate on the high priority jobs. Firms also adopt travel insurance for offering a seamless experience to the customers, thereby improving consumer relationships and retaining customers.
Request Free Sample Copy of Research Report @ http://bit.ly/2TljgeI
On other hand, travel Insurance is also available as the insurance software that arranges and restructures credit management workflows along with the storage of vital data along with preparation and performing of myriad routine tasks by the credit management team. Travel Insurance can also be blended into the complete organization and is also the component of other software systems.
Furthermore, some of the travel insurance software packages will integrate accounts receivables across the whole organization so that each function can help in accessing payment information whenever required. While other travel insurance software packages offer role-based operations and the probability of data sharing with particular roles in the company. This, in turn, gives everyone in the organization a complete overview of the consumer experience.
Increase in the business travels to steer the market trends
The surge in population has helped the business grow across the globe with many of the firms setting up offices abroad. This is likely to result in a rise in the business travels of the employees, thereby resulting in the growth of the travel insurance market. With strict enforcement of travel insurance laws across the developed countries like the U.S. and the UK, the market for travel insurance is likely to gain traction over the forecast timeline.
Inquire more about this report before purchase @ http://bit.ly/36U48J4
Furthermore, the rise in the tourist activities & thriving tourism sector will further enlarge the scope of the market over the forecast period. Nonetheless, unavoidable situations like the outbreak of war and pre-existing health issues can pose a threat to the market growth during the period from 2019 to 2027. However, emerging economies are trying to make the purchase of travel insurance mandatory and this, in turn, will offer lucrative opportunities for the market over the forecast period.
Single trip travel insurance to lead the trip type segment by 2027 in terms of revenue
The growth of the single trip travel insurance segment during the forecast timeline is due to the cost-effectiveness of the single trip travel insurance along with growing trends of honeymoon tours in foreign countries, affordability of the single trip travel insurance, and shopping trips overseas.
Insurance aggregator segment to record highest CAGR over the forecast timeline
The segment is predicted to register the highest growth rate of over 11% during the forecast period due to the ability of the insurance aggregator to provide the potential consumer with the insurance quotes along with the opportunity of discussing a particular quote. Apart from this, it also transfers the data of the prospective lead to the insurer for the latter to contact the potential customer for convincing him/her to buy the travel insurance policy.
Browse the full “Travel Insurance Market By Trip Type (Single Trip Travel Insurance, Annual Multi-Trip Travel Insurance, and Long-Stay Travel Insurance), By Insurance Cover (Medical Treatment, Loss, Damage, & Theft, Resuming Your Journey, Cancellation Insurance, Lump Sum Payments, Caretaker Coverage, Death, and Itinerary), By Distribution Channel (Insurance Intermediaries, Insurance Company, Insurance Broker, Bank, and Insurance Aggregator), By Payment Method (Monthly Outstanding Balance Method and Single Payment Method), and By End-User (Senior Citizens, Backpackers, Education Traveler, Family Traveler, Business Traveler, and Fully Independent Traveler): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2027” Report at http://bit.ly/2FKQ2Ot
Europe to contribute majorly towards the overall market revenue share by 2027
The growth of the regional market during the forecast period is owing to the high purchase of travel insurance policies by families and groups in the European countries. Countries like the UK, France, Germany, and Italy are likely to be major drivers of the regional market growth over the forecast period.
Some of the key participants in the business include Apruve, Cforia Software Inc., Credit & Management Systems, Inc., Creman Debasso, Emagia Corporation, Innovation Software Limited, Solutions For Financials B.V., Prof. Schumann GmbH, Viatec Business Solutions Ltd., SystemPartner Norge AS, SOPLEX Consult GmbH, Triple A Solutions, Hanse Orga Group, Credit Management tools.com, Xolv BV, BVCM Collections BV, Care & Collect, Onguard, Credica Limited, HighRadius, Rimilia, Equiniti, Debtpack, Misys, and Esker.
Request customized copy of report @ http://bit.ly/37ZmzfA
This report segments the Travel Insurance market as follows:
Travel Insurance Market: By Trip Type Analysis
Single Trip Travel Insurance
Annual Multi-Trip Travel Insurance
Long-Stay Travel Insurance
Travel Insurance Market: By Insurance Cover Analysis
Medical Treatment
Loss, Damage, & Theft
Resuming Your Journey
Cancellation Insurance
Lump Sum Payments
Caretaker Coverage
Death
Itinerary
Travel Insurance Market: By Distribution Channel Analysis
Insurance Intermediaries
Insurance Company
Insurance Broker
Bank
Insurance Aggregator
Travel Insurance Market: By Payment Method Analysis
Monthly Outstanding Balance Method
Single Payment Method
Travel Insurance Market: By End-User Analysis
Senior Citizens
Backpackers
Education Traveler
Family Traveler
Business Traveler
Fully Independent Traveler
Travel Insurance Market: By Regional Segment Analysis
North America
The U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa
Contact Us:
Facts & Factors
Global Headquarters
Level 8, International Finance Center, Tower 2,
8 Century Avenue, Shanghai,
Postal - 200120, China
Tel: +86 21 80360450
Email: sales@fnfresearch.com
Web: https://www.fnfresearch.com
About Us:
Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage
to this press release on woodPRI. woodPRI disclaims liability for any content contained in
this release.
Recommend
/newsMicroencapsulation Market Deep Analysis on Key Players - Dow Corning, Encapsys, Syngenta Crop Protection, Evonik Industries, 3M and Bayer
Market Study Report Adds Global Microencapsulation Market Size, Status and Forecast 2024 added to its database. The report provides key statistics on the current state of the industry and other analytical data to understand the market.
Extensive research is required for choosing the appropriate cor...
/newsGermany Airbag Market Size 2023: Global Share, Industry And Report Analysis By 2030 | Hyundai Mobis Co., Ltd. Key Safety Systems, Inc. Robert Bosch GmbH
Germany airbag market is expected to grow at a CAGR of around 6% during the forecast period. Germany Airbag Market research report refers to gathering and analyzing significant market data serve as best medium for various industry players to launch novel product or service. It is vital for key firms...
/newsSecurities Brokerages And Stock Exchanges Market Outlook 2021: Big Things are Happening
A new intelligence report released by HTF MI with title "Global Securities Brokerages And Stock Exchanges Market Survey & Outlook" is designed covering micro level of analysis by Insurers and key business segments, offerings and sales channels. The Global Securities Brokerages And Stock Exchange...
/newsRenewable Chemicals Market Emerging Trends and Competitive Landscape Forecast to 2028
The renewable chemicals market was valued at US$ 80,566.30 million in 2021 and is projected to reach US$ 1,76,750.76 million by 2028 it is expected to grow at a CAGR of 11.9% from 2021 to 2028. The research report focuses on the current market trends, opportunities, future potential of the market, a...
/newsHow Coronavirus is Impacting Cold Brew Coffee, Global Market Volume Analysis, Size, Share and Key Trends 2020-2026
"Market Latest Research Report 2020:
Los Angles United States, February 2020: The Cold Brew Coffee market has been garnering remarkable momentum in the recent years. The steadily escalating demand due to improving purchasing power is projected to bode well for the global market. QY Research's lates...
/newsCorporate E-Learning Market - Global Industry Size, Share, Key Players Analysis that are Infor, SkillSoft Corporation, Adrenna, CERTPOINT Systems and others with Regional Forecast to 2022
Overview:
E-Learning is used to enhance the learning procedures for newer job requirements and to make employees sound about the internal and external changes in the market and respective organizations. This method has created considerable differences in the ways of training and developing employee...
