The Europe Travel Insurance Market would witness market growth of 27.5% CAGR during the forecast period (2021-2027).
Trip cancellation charges might be covered by travel insurance. In the event of a cancellation, most resorts and cruise lines will not give a complete refund. Most resorts will levy a cancellation fee if a person cancel a couple of weeks before or more before their vacation; numerous cruise lines will just pay a 25% refund or partial credit on another cruise if a person cancel a couple of weeks before or more before the trip. Most firms will not give a refund if a person cancel within two weeks of their vacation.
It's vital to understand that, while there are numerous reasons to purchase travel insurance, some items may not be included. Look for a plan that offers a pre-existing condition waiver if people have a pre-existing condition. If a person is traveling to a region where there's political turmoil, find out what coverage insurance offers if they need to cancel due to the unrest. Some instances of tour operator default due to financial concerns are covered by travel insurance coverage.
The robust automotive sector in Germany is expected to drive decent growth in the multiple trip travel insurance market in the coming years. The number of business visits is increasing as market participants increase in this country. Many trip insurances save the trouble of purchasing a new plan for each trip by providing a comprehensive solution in one package. These insurance policies provide quick renewal, financial assistance, and document clearing. To achieve a larger market share, industry companies such as Allianz Partners and American Express Company are selling multi-trip insurance coverage for frequent travellers. Europe's countries are crammed into a comparatively small continent. The Schengen Agreement brings together 26 European countries to make it easier for inhabitants and visitors to move freely across borders.
The Germany market dominated the Europe Travel Insurance Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $5,074.2 million by 2027. The UK market is poised to grow at a CAGR of 26.5% during (2021 - 2027). Additionally, The France market would experience a CAGR of 28.5% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Travel Insurance Market Size will Hit $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
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
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 Europe Travel Insurance Market, by Coverage Type
1.4.2 Europe Travel Insurance Market, by Distribution Channel
1.4.3 Europe Travel Insurance Market, by End User
1.4.4 Europe 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. Europe Travel Insurance Market by Coverage Type
4.1 Europe Annual Multi-Trip Market by Country
4.2 Europe Single-Trip Market by Country
Chapter 5. Europe Travel Insurance Market by Distribution Channel
5.1 Europe Insurance Intermediaries Market by Country
5.2 Europe Insurance Companies Market by Country
5.3 Europe Banks Market by Country
5.4 Europe Insurance Brokers Market by Country
5.5 Europe Insurance Aggregators Market by Country
Chapter 6. Europe Travel Insurance Market by End User
6.1 Europe Family Travelers Market by Country
6.2 Europe Business Travelers Market by Country
6.3 Europe Senior Citizens Market by Country
6.4 Europe Education Travelers Market by Country
6.5 Europe Others Market by Country
Chapter 7. Europe Travel Insurance Market by Country
7.1 Germany Travel Insurance Market
7.1.1 Germany Travel Insurance Market by Coverage Type
7.1.2 Germany Travel Insurance Market by Distribution Channel
7.1.3 Germany Travel Insurance Market by End User
7.2 UK Travel Insurance Market
7.2.1 UK Travel Insurance Market by Coverage Type
7.2.2 UK Travel Insurance Market by Distribution Channel
7.2.3 UK Travel Insurance Market by End User
7.3 France Travel Insurance Market
7.3.1 France Travel Insurance Market by Coverage Type
7.3.2 France Travel Insurance Market by Distribution Channel
7.3.3 France Travel Insurance Market by End User
7.4 Russia Travel Insurance Market
7.4.1 Russia Travel Insurance Market by Coverage Type
7.4.2 Russia Travel Insurance Market by Distribution Channel
7.4.3 Russia Travel Insurance Market by End User
7.5 Spain Travel Insurance Market
7.5.1 Spain Travel Insurance Market by Coverage Type
7.5.2 Spain Travel Insurance Market by Distribution Channel
7.5.3 Spain Travel Insurance Market by End User
7.6 Italy Travel Insurance Market
7.6.1 Italy Travel Insurance Market by Coverage Type
7.6.2 Italy Travel Insurance Market by Distribution Channel
7.6.3 Italy Travel Insurance Market by End User
7.7 Rest of Europe Travel Insurance Market
7.7.1 Rest of Europe Travel Insurance Market by Coverage Type
7.7.2 Rest of Europe Travel Insurance Market by Distribution Channel
7.7.3 Rest of Europe 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 Europe Travel Insurance Market, 2017 - 2020, USD Million
TABLE 2 Europe 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 Europe Travel Insurance Market by Coverage Type, 2017 - 2020, USD Million
TABLE 7 Europe Travel Insurance Market by Coverage Type, 2021 - 2027, USD Million
TABLE 8 Europe Annual Multi-Trip Market by Country, 2017 - 2020, USD Million
TABLE 9 Europe Annual Multi-Trip Market by Country, 2021 - 2027, USD Million
TABLE 10 Europe Single-Trip Market by Country, 2017 - 2020, USD Million
TABLE 11 Europe Single-Trip Market by Country, 2021 - 2027, USD Million
TABLE 12 Europe Travel Insurance Market by Distribution Channel, 2017 - 2020, USD Million
TABLE 13 Europe Travel Insurance Market by Distribution Channel, 2021 - 2027, USD Million
TABLE 14 Europe Insurance Intermediaries Market by Country, 2017 - 2020, USD Million
TABLE 15 Europe Insurance Intermediaries Market by Country, 2021 - 2027, USD Million
TABLE 16 Europe Insurance Companies Market by Country, 2017 - 2020, USD Million
TABLE 17 Europe Insurance Companies Market by Country, 2021 - 2027, USD Million
TABLE 18 Europe Banks Market by Country, 2017 - 2020, USD Million
TABLE 19 Europe Banks Market by Country, 2021 - 2027, USD Million
TABLE 20 Europe Insurance Brokers Market by Country, 2017 - 2020, USD Million
TABLE 21 Europe Insurance Brokers Market by Country, 2021 - 2027, USD Million
TABLE 22 Europe Insurance Aggregators Market by Country, 2017 - 2020, USD Million
TABLE 23 Europe Insurance Aggregators Market by Country, 2021 - 2027, USD Million
TABLE 24 Europe Travel Insurance Market by End User, 2017 - 2020, USD Million
TABLE 25 Europe Travel Insurance Market by End User, 2021 - 2027, USD Million
TABLE 26 Europe Family Travelers Market by Country, 2017 - 2020, USD Million
TABLE 27 Europe Family Travelers Market by Country, 2021 - 2027, USD Million
TABLE 28 Europe Business Travelers Market by Country, 2017 - 2020, USD Million
TABLE 29 Europe Business Travelers Market by Country, 2021 - 2027, USD Million
TABLE 30 Europe Senior Citizens Market by Country, 2017 - 2020, USD Million
TABLE 31 Europe Senior Citizens Market by Country, 2021 - 2027, USD Million
TABLE 32 Europe Education Travelers Market by Country, 2017 - 2020, USD Million
TABLE 33 Europe Education Travelers Market by Country, 2021 - 2027, USD Million
TABLE 34 Europe Others Market by Country, 2017 - 2020, USD Million
TABLE 35 Europe Others Market by Country, 2021 - 2027, USD Million
TABLE 36 Europe Travel Insurance Market by Country, 2017 - 2020, USD Million
TABLE 37 Europe Travel Insurance Market by Country, 2021 - 2027, USD Million
TABLE 38 Germany Travel Insurance Market, 2017 - 2020, USD Million
TABLE 39 Germany Travel Insurance Market, 2021 - 2027, USD Million
TABLE 40 Germany Travel Insurance Market by Coverage Type, 2017 - 2020, USD Million
TABLE 41 Germany Travel Insurance Market by Coverage Type, 2021 - 2027, USD Million
TABLE 42 Germany Travel Insurance Market by Distribution Channel, 2017 - 2020, USD Million
TABLE 43 Germany Travel Insurance Market by Distribution Channel, 2021 - 2027, USD Million
TABLE 44 Germany Travel Insurance Market by End User, 2017 - 2020, USD Million
TABLE 45 Germany Travel Insurance Market by End User, 2021 - 2027, USD Million
TABLE 46 UK Travel Insurance Market, 2017 - 2020, USD Million
TABLE 47 UK Travel Insurance Market, 2021 - 2027, USD Million
TABLE 48 UK Travel Insurance Market by Coverage Type, 2017 - 2020, USD Million
TABLE 49 UK Travel Insurance Market by Coverage Type, 2021 - 2027, USD Million
TABLE 50 UK Travel Insurance Market by Distribution Channel, 2017 - 2020, USD Million
TABLE 51 UK Travel Insurance Market by Distribution Channel, 2021 - 2027, USD Million
TABLE 52 UK Travel Insurance Market by End User, 2017 - 2020, USD Million
TABLE 53 UK Travel Insurance Market by End User, 2021 - 2027, USD Million
TABLE 54 France Travel Insurance Market, 2017 - 2020, USD Million
TABLE 55 France Travel Insurance Market, 2021 - 2027, USD Million
TABLE 56 France Travel Insurance Market by Coverage Type, 2017 - 2020, USD Million
TABLE 57 France Travel Insurance Market by Coverage Type, 2021 - 2027, USD Million
TABLE 58 France Travel Insurance Market by Distribution Channel, 2017 - 2020, USD Million
TABLE 59 France Travel Insurance Market by Distribution Channel, 2021 - 2027, USD Million
TABLE 60 France Travel Insurance Market by End User, 2017 - 2020, USD Million
TABLE 61 France Travel Insurance Market by End User, 2021 - 2027, USD Million
TABLE 62 Russia Travel Insurance Market, 2017 - 2020, USD Million
TABLE 63 Russia Travel Insurance Market, 2021 - 2027, USD Million
TABLE 64 Russia Travel Insurance Market by Coverage Type, 2017 - 2020, USD Million
TABLE 65 Russia Travel Insurance Market by Coverage Type, 2021 - 2027, USD Million
TABLE 66 Russia Travel Insurance Market by Distribution Channel, 2017 - 2020, USD Million
TABLE 67 Russia Travel Insurance Market by Distribution Channel, 2021 - 2027, USD Million
TABLE 68 Russia Travel Insurance Market by End User, 2017 - 2020, USD Million
TABLE 69 Russia Travel Insurance Market by End User, 2021 - 2027, USD Million
TABLE 70 Spain Travel Insurance Market, 2017 - 2020, USD Million
TABLE 71 Spain Travel Insurance Market, 2021 - 2027, USD Million
TABLE 72 Spain Travel Insurance Market by Coverage Type, 2017 - 2020, USD Million
TABLE 73 Spain Travel Insurance Market by Coverage Type, 2021 - 2027, USD Million
TABLE 74 Spain Travel Insurance Market by Distribution Channel, 2017 - 2020, USD Million
TABLE 75 Spain Travel Insurance Market by Distribution Channel, 2021 - 2027, USD Million
TABLE 76 Spain Travel Insurance Market by End User, 2017 - 2020, USD Million
TABLE 77 Spain Travel Insurance Market by End User, 2021 - 2027, USD Million
TABLE 78 Italy Travel Insurance Market, 2017 - 2020, USD Million
TABLE 79 Italy Travel Insurance Market, 2021 - 2027, USD Million
TABLE 80 Italy Travel Insurance Market by Coverage Type, 2017 - 2020, USD Million
TABLE 81 Italy Travel Insurance Market by Coverage Type, 2021 - 2027, USD Million
TABLE 82 Italy Travel Insurance Market by Distribution Channel, 2017 - 2020, USD Million
TABLE 83 Italy Travel Insurance Market by Distribution Channel, 2021 - 2027, USD Million
TABLE 84 Italy Travel Insurance Market by End User, 2017 - 2020, USD Million
TABLE 85 Italy Travel Insurance Market by End User, 2021 - 2027, USD Million
TABLE 86 Rest of Europe Travel Insurance Market, 2017 - 2020, USD Million
TABLE 87 Rest of Europe Travel Insurance Market, 2021 - 2027, USD Million
TABLE 88 Rest of Europe Travel Insurance Market by Coverage Type, 2017 - 2020, USD Million
TABLE 89 Rest of Europe Travel Insurance Market by Coverage Type, 2021 - 2027, USD Million
TABLE 90 Rest of Europe Travel Insurance Market by Distribution Channel, 2017 - 2020, USD Million
TABLE 91 Rest of Europe Travel Insurance Market by Distribution Channel, 2021 - 2027, USD Million
TABLE 92 Rest of Europe Travel Insurance Market by End User, 2017 - 2020, USD Million
TABLE 93 Rest of Europe 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