The Latin America, Middle East and Africa Travel Insurance Market would witness market growth of 31.3% CAGR during the forecast period (2021-2027).
Market expansion will be aided by easy access to internet travel reservations and affordable package trips. Online travel reservation platforms work with insurance companies to give personalized service, foreign help claims aid, and reduced package trips. The rise of the travel insurance sector is being fueled by government measures to promote international tourism. International travelers have been encouraged to obtain travel insurance as a need for VISA applications as a result of the government's necessary laws and regulations.
There has been a growth in the number of adventure travelers around the world who are interested in visiting new places and participating in recreational and sports activities in their spare time. Several travel insurance firms provide tailored coverage for such activities. Many market competitors offer travel insurance plans tailored to senior adults that provide more coverage for age-related health issues also which are pre-existing. To avoid delays on their journey, travel insurance firms give a specialized hotline number for older persons.
The travel and tourism sector contributed a roughly huge amount to the UAE's GDP in 2019, accounting for a decent share of the total GDP. The total amount spent by overseas tourists in 2019 was a big amount of figure. The number of hotels in the UAE has expanded by 2020, with an increase in the total capacity of the hotel rooms. With over 150 nationalities as residents, Dubai is becoming one of the world's most enlightened and multicultural cities. Dubai has recently evolved from a port to a logistical hub, a significant worldwide financial center, and a popular tourism destination. Dubai is strategically placed between numerous countries and is only a few hours away by plane from Africa, Europe, and South Asia. As a result, Dubai has attracted a large number of expats, international visitors, and travellers.
The Brazil market dominated the LAMEA Travel Insurance Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1,209.8 million by 2027. The Argentina market is estimated to grow at a CAGR of 32% during (2021 - 2027). Additionally, The UAE market would exhibit a CAGR of 31% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Travel Insurance Market is Predict to reach $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
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
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 LAMEA Travel Insurance Market, by Coverage Type
1.4.2 LAMEA Travel Insurance Market, by Distribution Channel
1.4.3 LAMEA Travel Insurance Market, by End User
1.4.4 LAMEA 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. LAMEA Travel Insurance Market by Coverage Type
4.1 LAMEA Annual Multi-Trip Market by Country
4.2 LAMEA Single-Trip Market by Country
Chapter 5. LAMEA Travel Insurance Market by Distribution Channel
5.1 LAMEA Insurance Intermediaries Market by Country
5.2 LAMEA Insurance Companies Market by Country
5.3 LAMEA Banks Market by Country
5.4 LAMEA Insurance Brokers Market by Country
5.5 LAMEA Insurance Aggregators Market by Country
Chapter 6. LAMEA Travel Insurance Market by End User
6.1 LAMEA Family Travelers Market by Country
6.2 LAMEA Business Travelers Market by Country
6.3 LAMEA Senior Citizens Market by Country
6.4 LAMEA Education Travelers Market by Country
6.5 LAMEA Others Market by Country
Chapter 7. LAMEA Travel Insurance Market by Country
7.1 Brazil Travel Insurance Market
7.1.1 Brazil Travel Insurance Market by Coverage Type
7.1.2 Brazil Travel Insurance Market by Distribution Channel
7.1.3 Brazil Travel Insurance Market by End User
7.2 Argentina Travel Insurance Market
7.2.1 Argentina Travel Insurance Market by Coverage Type
7.2.2 Argentina Travel Insurance Market by Distribution Channel
7.2.3 Argentina Travel Insurance Market by End User
7.3 UAE Travel Insurance Market
7.3.1 UAE Travel Insurance Market by Coverage Type
7.3.2 UAE Travel Insurance Market by Distribution Channel
7.3.3 UAE Travel Insurance Market by End User
7.4 Saudi Arabia Travel Insurance Market
7.4.1 Saudi Arabia Travel Insurance Market by Coverage Type
7.4.2 Saudi Arabia Travel Insurance Market by Distribution Channel
7.4.3 Saudi Arabia Travel Insurance Market by End User
7.5 South Africa Travel Insurance Market
7.5.1 South Africa Travel Insurance Market by Coverage Type
7.5.2 South Africa Travel Insurance Market by Distribution Channel
7.5.3 South Africa Travel Insurance Market by End User
7.6 Nigeria Travel Insurance Market
7.6.1 Nigeria Travel Insurance Market by Coverage Type
7.6.2 Nigeria Travel Insurance Market by Distribution Channel
7.6.3 Nigeria Travel Insurance Market by End User
7.7 Rest of LAMEA Travel Insurance Market
7.7.1 Rest of LAMEA Travel Insurance Market by Coverage Type
7.7.2 Rest of LAMEA Travel Insurance Market by Distribution Channel
7.7.3 Rest of LAMEA 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 LAMEA Travel Insurance Market, 2017 - 2020, USD Million
TABLE 2 LAMEA 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 LAMEA Travel Insurance Market by Coverage Type, 2017 - 2020, USD Million
TABLE 7 LAMEA Travel Insurance Market by Coverage Type, 2021 - 2027, USD Million
TABLE 8 LAMEA Annual Multi-Trip Market by Country, 2017 - 2020, USD Million
TABLE 9 LAMEA Annual Multi-Trip Market by Country, 2021 - 2027, USD Million
TABLE 10 LAMEA Single-Trip Market by Country, 2017 - 2020, USD Million
TABLE 11 LAMEA Single-Trip Market by Country, 2021 - 2027, USD Million
TABLE 12 LAMEA Travel Insurance Market by Distribution Channel, 2017 - 2020, USD Million
TABLE 13 LAMEA Travel Insurance Market by Distribution Channel, 2021 - 2027, USD Million
TABLE 14 LAMEA Insurance Intermediaries Market by Country, 2017 - 2020, USD Million
TABLE 15 LAMEA Insurance Intermediaries Market by Country, 2021 - 2027, USD Million
TABLE 16 LAMEA Insurance Companies Market by Country, 2017 - 2020, USD Million
TABLE 17 LAMEA Insurance Companies Market by Country, 2021 - 2027, USD Million
TABLE 18 LAMEA Banks Market by Country, 2017 - 2020, USD Million
TABLE 19 LAMEA Banks Market by Country, 2021 - 2027, USD Million
TABLE 20 LAMEA Insurance Brokers Market by Country, 2017 - 2020, USD Million
TABLE 21 LAMEA Insurance Brokers Market by Country, 2021 - 2027, USD Million
TABLE 22 LAMEA Insurance Aggregators Market by Country, 2017 - 2020, USD Million
TABLE 23 LAMEA Insurance Aggregators Market by Country, 2021 - 2027, USD Million
TABLE 24 LAMEA Travel Insurance Market by End User, 2017 - 2020, USD Million
TABLE 25 LAMEA Travel Insurance Market by End User, 2021 - 2027, USD Million
TABLE 26 LAMEA Family Travelers Market by Country, 2017 - 2020, USD Million
TABLE 27 LAMEA Family Travelers Market by Country, 2021 - 2027, USD Million
TABLE 28 LAMEA Business Travelers Market by Country, 2017 - 2020, USD Million
TABLE 29 LAMEA Business Travelers Market by Country, 2021 - 2027, USD Million
TABLE 30 LAMEA Senior Citizens Market by Country, 2017 - 2020, USD Million
TABLE 31 LAMEA Senior Citizens Market by Country, 2021 - 2027, USD Million
TABLE 32 LAMEA Education Travelers Market by Country, 2017 - 2020, USD Million
TABLE 33 LAMEA Education Travelers Market by Country, 2021 - 2027, USD Million
TABLE 34 LAMEA Others Market by Country, 2017 - 2020, USD Million
TABLE 35 LAMEA Others Market by Country, 2021 - 2027, USD Million
TABLE 36 LAMEA Travel Insurance Market by Country, 2017 - 2020, USD Million
TABLE 37 LAMEA Travel Insurance Market by Country, 2021 - 2027, USD Million
TABLE 38 Brazil Travel Insurance Market, 2017 - 2020, USD Million
TABLE 39 Brazil Travel Insurance Market, 2021 - 2027, USD Million
TABLE 40 Brazil Travel Insurance Market by Coverage Type, 2017 - 2020, USD Million
TABLE 41 Brazil Travel Insurance Market by Coverage Type, 2021 - 2027, USD Million
TABLE 42 Brazil Travel Insurance Market by Distribution Channel, 2017 - 2020, USD Million
TABLE 43 Brazil Travel Insurance Market by Distribution Channel, 2021 - 2027, USD Million
TABLE 44 Brazil Travel Insurance Market by End User, 2017 - 2020, USD Million
TABLE 45 Brazil Travel Insurance Market by End User, 2021 - 2027, USD Million
TABLE 46 Argentina Travel Insurance Market, 2017 - 2020, USD Million
TABLE 47 Argentina Travel Insurance Market, 2021 - 2027, USD Million
TABLE 48 Argentina Travel Insurance Market by Coverage Type, 2017 - 2020, USD Million
TABLE 49 Argentina Travel Insurance Market by Coverage Type, 2021 - 2027, USD Million
TABLE 50 Argentina Travel Insurance Market by Distribution Channel, 2017 - 2020, USD Million
TABLE 51 Argentina Travel Insurance Market by Distribution Channel, 2021 - 2027, USD Million
TABLE 52 Argentina Travel Insurance Market by End User, 2017 - 2020, USD Million
TABLE 53 Argentina Travel Insurance Market by End User, 2021 - 2027, USD Million
TABLE 54 UAE Travel Insurance Market, 2017 - 2020, USD Million
TABLE 55 UAE Travel Insurance Market, 2021 - 2027, USD Million
TABLE 56 UAE Travel Insurance Market by Coverage Type, 2017 - 2020, USD Million
TABLE 57 UAE Travel Insurance Market by Coverage Type, 2021 - 2027, USD Million
TABLE 58 UAE Travel Insurance Market by Distribution Channel, 2017 - 2020, USD Million
TABLE 59 UAE Travel Insurance Market by Distribution Channel, 2021 - 2027, USD Million
TABLE 60 UAE Travel Insurance Market by End User, 2017 - 2020, USD Million
TABLE 61 UAE Travel Insurance Market by End User, 2021 - 2027, USD Million
TABLE 62 Saudi Arabia Travel Insurance Market, 2017 - 2020, USD Million
TABLE 63 Saudi Arabia Travel Insurance Market, 2021 - 2027, USD Million
TABLE 64 Saudi Arabia Travel Insurance Market by Coverage Type, 2017 - 2020, USD Million
TABLE 65 Saudi Arabia Travel Insurance Market by Coverage Type, 2021 - 2027, USD Million
TABLE 66 Saudi Arabia Travel Insurance Market by Distribution Channel, 2017 - 2020, USD Million
TABLE 67 Saudi Arabia Travel Insurance Market by Distribution Channel, 2021 - 2027, USD Million
TABLE 68 Saudi Arabia Travel Insurance Market by End User, 2017 - 2020, USD Million
TABLE 69 Saudi Arabia Travel Insurance Market by End User, 2021 - 2027, USD Million
TABLE 70 South Africa Travel Insurance Market, 2017 - 2020, USD Million
TABLE 71 South Africa Travel Insurance Market, 2021 - 2027, USD Million
TABLE 72 South Africa Travel Insurance Market by Coverage Type, 2017 - 2020, USD Million
TABLE 73 South Africa Travel Insurance Market by Coverage Type, 2021 - 2027, USD Million
TABLE 74 South Africa Travel Insurance Market by Distribution Channel, 2017 - 2020, USD Million
TABLE 75 South Africa Travel Insurance Market by Distribution Channel, 2021 - 2027, USD Million
TABLE 76 South Africa Travel Insurance Market by End User, 2017 - 2020, USD Million
TABLE 77 South Africa Travel Insurance Market by End User, 2021 - 2027, USD Million
TABLE 78 Nigeria Travel Insurance Market, 2017 - 2020, USD Million
TABLE 79 Nigeria Travel Insurance Market, 2021 - 2027, USD Million
TABLE 80 Nigeria Travel Insurance Market by Coverage Type, 2017 - 2020, USD Million
TABLE 81 Nigeria Travel Insurance Market by Coverage Type, 2021 - 2027, USD Million
TABLE 82 Nigeria Travel Insurance Market by Distribution Channel, 2017 - 2020, USD Million
TABLE 83 Nigeria Travel Insurance Market by Distribution Channel, 2021 - 2027, USD Million
TABLE 84 Nigeria Travel Insurance Market by End User, 2017 - 2020, USD Million
TABLE 85 Nigeria Travel Insurance Market by End User, 2021 - 2027, USD Million
TABLE 86 Rest of LAMEA Travel Insurance Market, 2017 - 2020, USD Million
TABLE 87 Rest of LAMEA Travel Insurance Market, 2021 - 2027, USD Million
TABLE 88 Rest of LAMEA Travel Insurance Market by Coverage Type, 2017 - 2020, USD Million
TABLE 89 Rest of LAMEA Travel Insurance Market by Coverage Type, 2021 - 2027, USD Million
TABLE 90 Rest of LAMEA Travel Insurance Market by Distribution Channel, 2017 - 2020, USD Million
TABLE 91 Rest of LAMEA Travel Insurance Market by Distribution Channel, 2021 - 2027, USD Million
TABLE 92 Rest of LAMEA Travel Insurance Market by End User, 2017 - 2020, USD Million
TABLE 93 Rest of LAMEA 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