The Asia Pacific Travel Insurance Market would witness market growth of 28.8% CAGR during the forecast period (2021-2027).
For the time being, and while hoping for a more worldwide opening of borders, tourists' preferred destinations are still those of neighboring countries. Travelers choose airlines, governments, and even hotels that have been able to effectively explain their safety and health security measures. Dubai, for instance, has had a hotel occupancy rate almost too full after the borders were reopened. New spending patterns have arisen, and some industries, such as rental lodgings and motor RVs, have seen increased interest. It's as if people wanted to isolate themselves while on the road and build a "health-safety bubble" when away from home.
The concept of "workstation," a new style of working while traveling that has been aided by the advent of distance working, or "slow tourism," which is taking a longer trip rather than a series of short stays. These latest trends have numerous advantages: they limit mass consumption, raise regional exploration, and promote green tourism that is mindful of local climate, communities, and ecology.
Various emerging nations of the region are witnessing a high government spending on tourism initiatives, which is contributing to the growth of the regional market. Based on the circumstances with the coronavirus and the recovery of the travel industry, the government plans to establish measures for a full-fledged inbound recovery while encouraging travel demand. For example, Japan's Ministry of Internal Affairs and Communications set aside USD 36.35 million in its FY 2021-22 budget for Digital Transformation (DX) in local governments in July 2020. The goal is to boost the sustainability and productivity of regions, as well as develop a globally competitive tourism sector, by attracting visitors to Japan and promoting tourism through Digital Transformation. Because of the high population density and absence of universally acknowledged traffic restrictions, getting about in China can be challenging.
The China market dominated the Asia Pacific Travel Insurance Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $4,704.7 million by 2027. The Japan market is anticipated to grow at a CAGR of 28.1% during (2021 - 2027). Additionally, The India market would display a CAGR of 29.6% during (2021 - 2027).
Based on Coverage Type, the market is segmented into Annual Multi-Trip, and Single-Trip. Based on Distribution Channel, the market is segmented into Insurance Intermediaries, Insurance Companies, Banks, Insurance Brokers, and Insurance Aggregators. Based on End User, the market is segmented into Family Travelers, Business Travelers, Senior Citizens, Education Travelers, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Travel Insurance Market is Projected to reach USD 60.7 Billion by 2027, at a CAGR of 28.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Seven Corners, Inc., USI Insurance Services, LLC, Assicurazioni Generali SpA, American International Group, Inc., Allianz Group, AXA SA, and Zurich Insurance Group Ltd.
Scope of the Study
Market Segments Covered in the Report:
By Coverage Type
- Annual Multi-Trip
- Single-Trip
By Distribution Channel
- Insurance Intermediaries
- Insurance Companies
- Banks
- Insurance Brokers
- Insurance Aggregators
By End User
- Family Travelers
- Business Travelers
- Senior Citizens
- Education Travelers
- Others
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Seven Corners, Inc.
- USI Insurance Services, LLC
- Assicurazioni Generali SpA
- American International Group, Inc.
- Allianz Group
- AXA SA
- Zurich Insurance Group Ltd.
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Asia Pacific Travel Insurance Market, by Coverage Type
1.4.2 Asia Pacific Travel Insurance Market, by Distribution Channel
1.4.3 Asia Pacific Travel Insurance Market, by End User
1.4.4 Asia Pacific Travel Insurance Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2017-2021)
3.3.2 Key Strategic Move: (Partnerships, Collaborations and Agreements: 2018, Mar – 2022, Feb) Leading Players
Chapter 4. Asia Pacific Travel Insurance Market by Coverage Type
4.1 Asia Pacific Annual Multi-Trip Market by Country
4.2 Asia Pacific Single-Trip Market by Country
Chapter 5. Asia Pacific Travel Insurance Market by Distribution Channel
5.1 Asia Pacific Insurance Intermediaries Market by Country
5.2 Asia Pacific Insurance Companies Market by Country
5.3 Asia Pacific Banks Market by Country
5.4 Asia Pacific Insurance Brokers Market by Country
5.5 Asia Pacific Insurance Aggregators Market by Country
Chapter 6. Asia Pacific Travel Insurance Market by End User
6.1 Asia Pacific Family Travelers Market by Country
6.2 Asia Pacific Business Travelers Market by Country
6.3 Asia Pacific Senior Citizens Market by Country
6.4 Asia Pacific Education Travelers Market by Country
6.5 Asia Pacific Others Market by Country
Chapter 7. Asia Pacific Travel Insurance Market by Country
7.1 China Travel Insurance Market
7.1.1 China Travel Insurance Market by Coverage Type
7.1.2 China Travel Insurance Market by Distribution Channel
7.1.3 China Travel Insurance Market by End User
7.2 Japan Travel Insurance Market
7.2.1 Japan Travel Insurance Market by Coverage Type
7.2.2 Japan Travel Insurance Market by Distribution Channel
7.2.3 Japan Travel Insurance Market by End User
7.3 India Travel Insurance Market
7.3.1 India Travel Insurance Market by Coverage Type
7.3.2 India Travel Insurance Market by Distribution Channel
7.3.3 India Travel Insurance Market by End User
7.4 South Korea Travel Insurance Market
7.4.1 South Korea Travel Insurance Market by Coverage Type
7.4.2 South Korea Travel Insurance Market by Distribution Channel
7.4.3 South Korea Travel Insurance Market by End User
7.5 Singapore Travel Insurance Market
7.5.1 Singapore Travel Insurance Market by Coverage Type
7.5.2 Singapore Travel Insurance Market by Distribution Channel
7.5.3 Singapore Travel Insurance Market by End User
7.6 Malaysia Travel Insurance Market
7.7 Malaysia Travel Insurance Market by Coverage Type
7.7.1 Malaysia Travel Insurance Market by Distribution Channel
7.7.2 Malaysia Travel Insurance Market by End User
7.8 Rest of Asia Pacific Travel Insurance Market
7.8.1 Rest of Asia Pacific Travel Insurance Market by Coverage Type
7.8.2 Rest of Asia Pacific Travel Insurance Market by Distribution Channel
7.8.3 Rest of Asia Pacific Travel Insurance Market by End User
Chapter 8. Company Profiles
8.1 Seven Corners, Inc.
8.1.1 Company Overview
8.2 USI Insurance Services, LLC
8.2.1 Company Overview
8.3 Assicurazioni Generali SpA
8.3.1 Company Overview
8.3.2 Recent strategies and developments:
8.3.2.1 Product Launches and Product Expansions:
8.3.2.2 Acquisition and Mergers:
8.4 American International Group, Inc. (AIG)
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 Recent strategies and developments:
8.4.4.1 Partnerships, Collaborations, and Agreements:
8.4.4.2 Acquisition and Mergers:
8.4.5 Recent strategies and developments:
8.4.6 SWOT Analysis
8.5 Allianz Group
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Segmental Analysis
8.5.4 Recent strategies and developments:
8.5.4.1 Partnerships, Collaborations, and Agreements:
8.5.4.2 Product Launches and Product Expansions:
8.5.4.3 Acquisition and Mergers:
8.5.5 SWOT Analysis
8.6 AXA SA
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Segmental and Regional Analysis
8.6.4 Recent strategies and developments:
8.6.4.1 Partnerships, Collaborations, and Agreements:
8.6.4.2 Product Launches and Product Expansions:
8.6.5 SWOT Analysis
8.7 Zurich Insurance Group Ltd.
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Segmental and Regional Analysis
8.7.4 Recent strategies and developments:
8.7.4.1 Partnerships, Collaborations, and Agreements:
8.7.4.2 Product Launches and Product Expansions:
8.7.4.3 Acquisition and Mergers:
8.7.5 SWOT Analysis
TABLE 1 Asia Pacific Travel Insurance Market, 2017 - 2020, USD Million
TABLE 2 Asia Pacific Travel Insurance Market, 2021 - 2027, USD Million
TABLE 3 Partnerships, Collaborations and Agreements – Travel Insurance Market
TABLE 4 Product Launches And Product Expansions – Travel Insurance Market
TABLE 5 Acquisition and Mergers – Travel Insurance Market
TABLE 6 Asia Pacific Travel Insurance Market by Coverage Type, 2017 - 2020, USD Million
TABLE 7 Asia Pacific Travel Insurance Market by Coverage Type, 2021 - 2027, USD Million
TABLE 8 Asia Pacific Annual Multi-Trip Market by Country, 2017 - 2020, USD Million
TABLE 9 Asia Pacific Annual Multi-Trip Market by Country, 2021 - 2027, USD Million
TABLE 10 Asia Pacific Single-Trip Market by Country, 2017 - 2020, USD Million
TABLE 11 Asia Pacific Single-Trip Market by Country, 2021 - 2027, USD Million
TABLE 12 Asia Pacific Travel Insurance Market by Distribution Channel, 2017 - 2020, USD Million
TABLE 13 Asia Pacific Travel Insurance Market by Distribution Channel, 2021 - 2027, USD Million
TABLE 14 Asia Pacific Insurance Intermediaries Market by Country, 2017 - 2020, USD Million
TABLE 15 Asia Pacific Insurance Intermediaries Market by Country, 2021 - 2027, USD Million
TABLE 16 Asia Pacific Insurance Companies Market by Country, 2017 - 2020, USD Million
TABLE 17 Asia Pacific Insurance Companies Market by Country, 2021 - 2027, USD Million
TABLE 18 Asia Pacific Banks Market by Country, 2017 - 2020, USD Million
TABLE 19 Asia Pacific Banks Market by Country, 2021 - 2027, USD Million
TABLE 20 Asia Pacific Insurance Brokers Market by Country, 2017 - 2020, USD Million
TABLE 21 Asia Pacific Insurance Brokers Market by Country, 2021 - 2027, USD Million
TABLE 22 Asia Pacific Insurance Aggregators Market by Country, 2017 - 2020, USD Million
TABLE 23 Asia Pacific Insurance Aggregators Market by Country, 2021 - 2027, USD Million
TABLE 24 Asia Pacific Travel Insurance Market by End User, 2017 - 2020, USD Million
TABLE 25 Asia Pacific Travel Insurance Market by End User, 2021 - 2027, USD Million
TABLE 26 Asia Pacific Family Travelers Market by Country, 2017 - 2020, USD Million
TABLE 27 Asia Pacific Family Travelers Market by Country, 2021 - 2027, USD Million
TABLE 28 Asia Pacific Business Travelers Market by Country, 2017 - 2020, USD Million
TABLE 29 Asia Pacific Business Travelers Market by Country, 2021 - 2027, USD Million
TABLE 30 Asia Pacific Senior Citizens Market by Country, 2017 - 2020, USD Million
TABLE 31 Asia Pacific Senior Citizens Market by Country, 2021 - 2027, USD Million
TABLE 32 Asia Pacific Education Travelers Market by Country, 2017 - 2020, USD Million
TABLE 33 Asia Pacific Education Travelers Market by Country, 2021 - 2027, USD Million
TABLE 34 Asia Pacific Others Market by Country, 2017 - 2020, USD Million
TABLE 35 Asia Pacific Others Market by Country, 2021 - 2027, USD Million
TABLE 36 Asia Pacific Travel Insurance Market by Country, 2017 - 2020, USD Million
TABLE 37 Asia Pacific Travel Insurance Market by Country, 2021 - 2027, USD Million
TABLE 38 China Travel Insurance Market, 2017 - 2020, USD Million
TABLE 39 China Travel Insurance Market, 2021 - 2027, USD Million
TABLE 40 China Travel Insurance Market by Coverage Type, 2017 - 2020, USD Million
TABLE 41 China Travel Insurance Market by Coverage Type, 2021 - 2027, USD Million
TABLE 42 China Travel Insurance Market by Distribution Channel, 2017 - 2020, USD Million
TABLE 43 China Travel Insurance Market by Distribution Channel, 2021 - 2027, USD Million
TABLE 44 China Travel Insurance Market by End User, 2017 - 2020, USD Million
TABLE 45 China Travel Insurance Market by End User, 2021 - 2027, USD Million
TABLE 46 Japan Travel Insurance Market, 2017 - 2020, USD Million
TABLE 47 Japan Travel Insurance Market, 2021 - 2027, USD Million
TABLE 48 Japan Travel Insurance Market by Coverage Type, 2017 - 2020, USD Million
TABLE 49 Japan Travel Insurance Market by Coverage Type, 2021 - 2027, USD Million
TABLE 50 Japan Travel Insurance Market by Distribution Channel, 2017 - 2020, USD Million
TABLE 51 Japan Travel Insurance Market by Distribution Channel, 2021 - 2027, USD Million
TABLE 52 Japan Travel Insurance Market by End User, 2017 - 2020, USD Million
TABLE 53 Japan Travel Insurance Market by End User, 2021 - 2027, USD Million
TABLE 54 India Travel Insurance Market, 2017 - 2020, USD Million
TABLE 55 India Travel Insurance Market, 2021 - 2027, USD Million
TABLE 56 India Travel Insurance Market by Coverage Type, 2017 - 2020, USD Million
TABLE 57 India Travel Insurance Market by Coverage Type, 2021 - 2027, USD Million
TABLE 58 India Travel Insurance Market by Distribution Channel, 2017 - 2020, USD Million
TABLE 59 India Travel Insurance Market by Distribution Channel, 2021 - 2027, USD Million
TABLE 60 India Travel Insurance Market by End User, 2017 - 2020, USD Million
TABLE 61 India Travel Insurance Market by End User, 2021 - 2027, USD Million
TABLE 62 South Korea Travel Insurance Market, 2017 - 2020, USD Million
TABLE 63 South Korea Travel Insurance Market, 2021 - 2027, USD Million
TABLE 64 South Korea Travel Insurance Market by Coverage Type, 2017 - 2020, USD Million
TABLE 65 South Korea Travel Insurance Market by Coverage Type, 2021 - 2027, USD Million
TABLE 66 South Korea Travel Insurance Market by Distribution Channel, 2017 - 2020, USD Million
TABLE 67 South Korea Travel Insurance Market by Distribution Channel, 2021 - 2027, USD Million
TABLE 68 South Korea Travel Insurance Market by End User, 2017 - 2020, USD Million
TABLE 69 South Korea Travel Insurance Market by End User, 2021 - 2027, USD Million
TABLE 70 Singapore Travel Insurance Market, 2017 - 2020, USD Million
TABLE 71 Singapore Travel Insurance Market, 2021 - 2027, USD Million
TABLE 72 Singapore Travel Insurance Market by Coverage Type, 2017 - 2020, USD Million
TABLE 73 Singapore Travel Insurance Market by Coverage Type, 2021 - 2027, USD Million
TABLE 74 Singapore Travel Insurance Market by Distribution Channel, 2017 - 2020, USD Million
TABLE 75 Singapore Travel Insurance Market by Distribution Channel, 2021 - 2027, USD Million
TABLE 76 Singapore Travel Insurance Market by End User, 2017 - 2020, USD Million
TABLE 77 Singapore Travel Insurance Market by End User, 2021 - 2027, USD Million
TABLE 78 Malaysia Travel Insurance Market, 2017 - 2020, USD Million
TABLE 79 Malaysia Travel Insurance Market, 2021 - 2027, USD Million
TABLE 80 Malaysia Travel Insurance Market by Coverage Type, 2017 - 2020, USD Million
TABLE 81 Malaysia Travel Insurance Market by Coverage Type, 2021 - 2027, USD Million
TABLE 82 Malaysia Travel Insurance Market by Distribution Channel, 2017 - 2020, USD Million
TABLE 83 Malaysia Travel Insurance Market by Distribution Channel, 2021 - 2027, USD Million
TABLE 84 Malaysia Travel Insurance Market by End User, 2017 - 2020, USD Million
TABLE 85 Malaysia Travel Insurance Market by End User, 2021 - 2027, USD Million
TABLE 86 Rest of Asia Pacific Travel Insurance Market, 2017 - 2020, USD Million
TABLE 87 Rest of Asia Pacific Travel Insurance Market, 2021 - 2027, USD Million
TABLE 88 Rest of Asia Pacific Travel Insurance Market by Coverage Type, 2017 - 2020, USD Million
TABLE 89 Rest of Asia Pacific Travel Insurance Market by Coverage Type, 2021 - 2027, USD Million
TABLE 90 Rest of Asia Pacific Travel Insurance Market by Distribution Channel, 2017 - 2020, USD Million
TABLE 91 Rest of Asia Pacific Travel Insurance Market by Distribution Channel, 2021 - 2027, USD Million
TABLE 92 Rest of Asia Pacific Travel Insurance Market by End User, 2017 - 2020, USD Million
TABLE 93 Rest of Asia Pacific Travel Insurance Market by End User, 2021 - 2027, USD Million
TABLE 94 Key information – Seven Corners, Inc.
TABLE 95 Key information – USI Insurance Services, LLC
TABLE 96 Key information – Assicurazioni Generali SpA
TABLE 97 Key Information – American International Group, Inc. (AIG)
TABLE 98 Key Information – Allianz Group
TABLE 99 key information – AXA SA
TABLE 100 Key Information – Zurich Insurance Group Ltd.
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2017-2021)
FIG 4 Key Strategic Move: (Partnerships, Collaborations and Agreements: 2018, Mar – 2022, Feb) Leading Players
FIG 5 Recent strategies and developments: American International Group, Inc.
FIG 6 SWOT Analysis: American International Group, Inc. (AIG)
FIG 7 Recent strategies and developments: Allianz Group
FIG 8 SWOT Analysis: Allianz Group
FIG 9 Recent strategies and developments: AXA SA
FIG 10 SWOT Analysis: AXA SA
FIG 11 Recent strategies and developments: Zurich Insurance Group Ltd
FIG 12 SWOT Analysis: Zurich Insurance Group