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Travel Insurance Market Size, Witness Highest Growth in near future by 2030 |

Travel insurance is a type of insurance that covers the costs and losses incurred while traveling. It provides financial security to the insured person in the event of trip cancellation, luggage loss, and medical and other expenses incurred during a trip. Travel insurance can be availed as a package with travel tickets or bought separately either online or offline. Banks and financial institutions also offer travel insurance for customers availing their credit card facility.

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Travel Insurance Market Size, Witness Highest Growth in near future by 2030 |

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  1. The Global Travel Insurance Market size was valued at USD 14.29 billion in 2021 and is predicted to reach USD 108.82 billion by 2030 with a CAGR of 25.6% from 2022-2030. Travel Insurance is a specialized form of insurance intended to cover financial default, medical expenses, and a variety of other sources of financial loss that can be incurred while traveling domestically or internationally. Travel Insurance can be arranged at the time a trip is booked (such as through a travel agency, cruise line operators, or other travel suppliers), which lasts for the duration of a trip, or a longer term, more expansive coverage can be obtained directly from a Travel Insurance company, which can cover Business Travel, Student Travel, Cruises, Leisure Travel, Adventure Travel, and International Travel at various levels. Access Full Description of this report at: - https://www.nextmsc.com/report/travel-insurance-market Some of the major key players in the travel insurance market are: Allianz Group, Zurich Insurance Group, American Express Company, American International Group, Inc., Axa SA, Berkshire Hathaway Specialty Insurance, Seven Corners, Inc., USI Insurance Services, Travel Insured International, Inc. and Genarali Group among others. The global travel insurance market growth is driven by factors such as rising tourism demands after pandemic. In addition, government-mandated travel policies are further fueling the growth of the travel insurance market. However, the low penetration of insurance policies limits the growth of this market. Conversely, new technological developments for the travel industries are expected to provide numerous opportunities for the expansion of the travel insurance market during the forecast period. Depending on coverage type, the annual multi-trip travel insurance segment dominated the travel insurance market share in 2020 and is expected to witness the highest growth, the segment is expected to continue this trend during the forecast period. Region wise, the travel insurance market was dominated by Europe in 2020 and is expected to climb to the highest position during the forecast period, owing to growing travel and tourism within the European region and the rapid economic growth of the region, is aiding the growth of the travel insurance industry. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to the growth of multiple industries in the Asia-Pacific region which is promoting business-related travel and the growing tourism industry of the region is aiding the growth of the travel insurance market in this region. Key Benefits for Stakeholders: The study provides an in-depth analysis of the global travel insurance market forecast along with current & future trends to explain the imminent investment pockets. Information about key drivers, restraints, & opportunities and their impact analysis on global travel insurance trend is provided in the report. Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry. The quantitative analysis of the market from 2021 to 2030 is provided to determine the market potential. Request sample copy of this report at:- https://www.nextmsc.com/travel-insurance-market/request-sample

  2. About Next Move Strategy Consulting Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics. We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicate as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solutions that ranges from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses. For more insights, please visit, https://www.nextmsc.com

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