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Europe Travel Insurance Market By Insurance Cover (Single-Trip Travel Insurance, Annual Multi-Trip Travel Insurance, and Long-Stay Travel Insurance), Distribution Channel (Insurance Intermediaries, Insurance Companies, Banks, Insurance Brokers, and Insurance Aggregators), and End User (Senior Citizens, Education Travelers, Business Travelers, Family Travelers, and Others): Regional Opportunity Analysis and Industry Forecast, 2020–2027

A01960
Pages: 194
Sep 2020 | 9585 Views
   
Author(s) : Aarti Goswami, Pramod Borasi , Vineet Kumar
Tables: 65
Charts: 52
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Europe Travel Insurance Market Outlook – 2027 

The Europe travel insurance market size was valued at $6.25 billion in 2019 and is projected to reach $10.39 billion by 2027, growing at a CAGR of 14.4% from 2020 to 2027. Travel insurance covers the expenses incurred and minimizes the risks during travel. It acts as a cushion in situations such as trip cancellation due to medical emergency, loss of baggage, evacuation due to medical condition or hijack, and loss of travel documents, among others. 

During COVID-19, the sale of travel insurance policies is expected to decline, owing to global fear of the virus and unprecedented travel restrictions, which has tremendously reduced the demand for travel services across the regions.

Several intermediaries in distribution channel such as insurance aggregators, banks, insurance brokers providing consumers with various options to compare products and prices, suggest suitable policies, and others. In addition, travel insurance providers in the region offer different plans by covering costs and losses depending on coverages in the policy. 

Europe Travel Insurance Market

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Mandatory rules & regulations imposed by the government have urged the consumers to avail travel insurance as a prerequisite for obtaining VISA, which is expected to drive the growth of Europe travel insurance market. In addition, increase in tourism led to several incidences such as trip cancellations, loss of luggage & important documents, medical emergencies, and others take place. To mitigate these risks, consumers opt for travel insurance, which is a significant driving factor for the Europe travel insurance market

However, lack of understanding & awareness regarding travel insurance coverages and low penetration level & fewer written policies of travel insurance are some of factors limit the growth of Europe travel insurance premium in the market. On the contrary, insurers in the region are expected to enhance existing distribution platforms of travel insurance to accelerate productivity with the help of technologies such as geo-location, application program interface (API), artificial intelligence (AI), data analytics, and global positioning system (GPS), among others. As a result, these factors are expected to create lucrative opportunity for the Europe travel insurance market in the upcoming years.

The insurance intermediaries sector dominated the Europe travel insurance industry in 2019 and is projected to maintain its dominance during the forecast period. Due to several intermediaries upgrading their offerings by incorporating software such as global distribution system (GDS), which enables transactions between travel industry service providers such as airlines, hotels, car rental companies, and travel agencies.

The report focuses on the growth prospects, restraints, and trends of the Europe travel insurance market analysis. The study provides Porter’s five forces analysis to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the Europe travel insurance market.

Europe Travel Insurance Market
By Insurance Cover

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Single Trip Travel Insurance segment is projected to be the most lucrative segment

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Segment Review

The Europe travel insurance market is segmented on the basis of insurance cover, distribution channel, end user, and region. In terms of insurance cover, it is segmented into single-trip travel insurance, annual multi-trip travel insurance, and long-stay travel insurance. 

Europe Travel Insurance Market
By Distribution Channel

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Insurance Intermediaries segment will dominate the market throughout the forecast period

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Based on distribution channel, the market is segmented into insurance intermediaries, insurance companies, banks, insurance brokers, and insurance aggregators. On the basis of end user, it is segmented into senior citizens, education travelers, business travelers, family travelers, and others. Country wise, it is analyzed across UK, Germany, France, Italy, Spain, Netherlands, Switzerland, Austria, and Rest of Europe. 

Europe Travel Insurance Market
By End User

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Business Travelers segment would exhibit the highest CAGR of 16.7% during 2020 - 2027

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The report analyses the profiles of key players operating in the market are Allianz, American International Group Inc., Assicurazioni Generali S.P.A., Aviva, AXA, EUROPEAN Travel Insurance Group, Insure & Go Insurance Services Limited, Mutuaide, The April Group, and Zurich. These key players have adopted various strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to increase their market penetration and strengthen their position in the industry.

Europe Travel Insurance Market
By Country

2027
Uk 
Germany
France
Italy
Spain
Netherlands
Switzerland
Austria
Rest Of Europe

UK holds a dominant position in 2019 and would maintain the lead during the forecast period

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COVID-19 Impact Analysis

Key players operating in the market are facing the negative impact of the COVID-19 outbreak, which are witnessing reduction in their revenue. Although the COVID-19 outbreak negatively impacts the Europe travel insurance market growth, the industry is expected to recover by the third quarter of 2020. This is attributed to an increased awareness of travel insurance among individuals, essentials of insurance coverage, restarting of tourism places, and other such factors are expected to provide numerous opportunities for the market in the upcoming years. In addition, insurers could test, enhance better connectivity to support more staff working off-site, and in flexible ways during the pandemic situation.

Top Impacting Factors

Rise in Baby Boomer Travel 

The European tourism industry has witnessed steep growth in the baby boomer travel in the recent years. Moreover, they are more inclined toward availing insurance policies, owing to their past experiences and growing age. In addition, they travel along with their family or relatives, which creates the need for secure travel. 

It has been observed that most of the baby boomers spend an average of 27 days in a year traveling, wherein nearly 41% of them considered Europe for international travel. In addition, the three most popular European countries visited by baby boomers are England, France, and Italy. Thus, rise in baby boomers travel is a significant factor toward the growth of the Europe travel insurance market. 

New Technological Developments in the Europe Travel Insurance Industry

The insurance industry has witnessed a paradigm shift in the recent years. For instance, according to Internet world stat, nearly 89.4% of the European population are accessing the internet via their mobile phones, desktop computers, and laptops. Therefore, with observing this trend, insurance companies have focused on formulating various strategies to provide mobile-friendly services. 

Furthermore, increased technologies such as geo-location, application program interface (API), artificial intelligence (AI), data analytics, blockchain, and big data are providing innovative opportunities for insurers in the market. With these technological developments, travel insurance distribution platforms are expected to enhance productivity for providing coverages seamlessly at the point-of-purchase in the region.  

Key Benefits For Stakeholders 

  • The study provides an in-depth analysis of the Europe travel insurance market share along with the current & future trends to elucidate the imminent investment pockets.
  • Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided in the report.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
  • An extensive analysis of the key segments of the industry helps to understand the Europe travel insurance market trends.
  • The quantitative analysis of the Europe travel insurance market from 2020 to 2027 is provided to determine the market potential.

Europe Travel Insurance Market Key Segments 

By Insurance Cover

  • Single-Trip Travel Insurance
  • Annual Multi-Trip Travel Insurance
  • Long-Stay Travel Insurance 

By Distribution Channel 

  • Insurance Intermediaries
  • Insurance Companies
  • Banks
  • Insurance Brokers
  • Insurance Aggregators 

By End User 

  • Senior Citizens
  • Education Travelers
  • Business Travelers
  • Family Travelers
  • Others 

By Country

  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Netherlands
  • Switzerland
  • Austria
  • Rest of Europe

Key Market Players

  • Allianz 
  • American International Group Inc.
  • Assicurazioni Generali S.P.A.
  • Aviva
  • AXA
  • EUROPEAN Travel Insurance Group 
  • Insure & Go Insurance Services Limited
  • Mutuaide 
  • The April Group
  • Zurich 
 

CHAPTER 1:INTRODUCTION

1.1.Report description
1.2.Key benefits for stakeholders
1.3.Key market segments
1.4.Research methodology

1.4.1.1.Secondary research
1.4.1.2.Primary research
1.4.1.3.Analyst tools & models

CHAPTER 2:EXECUTIVE SUMMARY

2.1.Key findings

2.1.1.1.Top impacting factors
2.1.1.2.Top investment pockets

2.2.CXO perspective

CHAPTER 3:MARKET OVERVIEW

3.1.Market definition and scope
3.2.Key forces shaping the travel insurance market
3.4.Market dynamics

3.4.1.1.Drivers
3.4.1.2.Increased adoption of travel insurance as a prerequisite for obtaining VISA
3.4.1.3.Rapid growth in tourism
3.4.1.4.Rise in baby boomer travel
3.4.1.5.Restraint
3.4.1.6.Lack of awareness regarding benefit related to travel insurance
3.4.1.7.Low penetration level & fewer written policies of travel insurance
3.4.1.8.Opportunities
3.4.1.9.Expansion of existing travel insurance products & services
3.4.1.10.New technological developments in the Europe travel insurance industry

3.5.COVID-19 impact analysis on Europe travel insurance market

3.5.1.1.Impact on travel & tourism industry
3.5.1.2.Impact on Europe travel insurance market size
3.5.1.3.Change in travelers trends, preferences, and budget impact due to COVID-19
3.5.1.4.Framework for solving market challenges faced by Europe travel insurance providers and policy adopters
3.5.1.5.Economic impact on travel insurers
3.5.1.6.Key player strategies to tackle negative impact in the industry
3.5.1.7.Opportunity analysis for travel insurance policy providers

CHAPTER 4:EUROPE TRAVEL INSURANCE MARKET, BY INSURANCE COVER

4.1.Overview
4.2.Single-trip travel insurance

4.2.1.1.Key market trends, growth factors, and opportunities
4.2.1.2.Market size and forecast, by country

4.3.Annual multi-trip travel insurance

4.3.1.1.Key market trends, growth factors, and opportunities
4.3.1.2.Market analysis, by country

4.4.Long-stay travel insurance

4.4.1.1.Key market trends, growth factors, and opportunities
4.4.1.2.Market analysis, by country

CHAPTER 5:EUROPE TRAVEL INSURANCE MARKET, BY DISTRIBUTION CHANNEL

5.1.Overview
5.2.Insurance intermediaries

5.2.1.1.Key market trends, growth factors, and opportunities
5.2.1.2.Market analysis, by country

5.3.Insurance companies

5.3.1.1.Key market trends, growth factors, and opportunities
5.3.1.2.Market analysis, by country

5.4.Banks

5.4.1.1.Key market trends, growth factors, and opportunities
5.4.1.2.Market analysis, by country

5.5.Insurance brokers

5.5.1.1.Key market trends, growth factors, and opportunities
5.5.1.2.Market analysis, by country

5.6.Insurance aggregators

5.6.1.1.Key market trends, growth factors, and opportunities
5.6.1.2.Market analysis, by country

CHAPTER 6:EUROPE TRAVEL INSURANCE MARKET, BY END USER

6.1.Overview
6.2.Senior citizens

6.2.1.1.Key market trends, growth factors, and opportunities
6.2.1.2.Market analysis, by country

6.3.Education travelers

6.3.1.1.Key market trends, growth factors, and opportunities
6.3.1.2.Market analysis, by country

6.4.Business travelers

6.4.1.1.Key market trends, growth factors, and opportunities
Market analysis, by country

6.5.Family travelers

6.5.1.1.Key market trends, growth factors, and opportunities
Market analysis, by country

6.6.Others

6.6.1.1.Key market trends, growth factors, and opportunities
6.6.1.2.Market analysis, by country

CHAPTER 7:EUROPE TRAVEL INSURANCE MARKET, BY COUNTRY

7.1.Overview
7.2.UK

7.2.1.1.Key market trends, growth factors, and opportunities
7.2.1.2.Market size and forecast

7.2.1.2.1.Market size and forecast, by insurance cover
7.2.1.2.2.Market size and forecast, by distribution channel
7.2.1.2.3.Market size and forecast, by end user

7.3.Germany

7.3.1.1.Key market trends, growth factors, and opportunities
7.3.1.2.Market size and forecast

7.3.1.2.1.Market size and forecast, by insurance cover
7.3.1.2.2.Market size and forecast, by distribution channel
7.3.1.2.3.Market size and forecast, by end user

7.4.France

7.4.1.1.Key market trends, growth factors, and opportunities
7.4.1.2.Market size and forecast

7.4.1.2.1.Market size and forecast, by insurance cover
7.4.1.2.2.Market size and forecast, by distribution channel
7.4.1.2.3.Market size and forecast, by end user

7.5.Italy

7.5.1.1.Key market trends, growth factors, and opportunities

7.5.1.1.1.Market size and forecast, by insurance cover
7.5.1.1.2.Market size and forecast, by distribution channel
7.5.1.1.3.Market size and forecast, by end user

7.6.Spain

7.6.1.1.Key market trends, growth factors, and opportunities

7.6.1.1.1.Market size and forecast, by insurance cover
7.6.1.1.2.Market size and forecast, by distribution channel
7.6.1.1.3.Market size and forecast, by end user

7.7.Netherlands

7.7.1.1.Key market trends, growth factors, and opportunities

7.7.1.1.1.Market size and forecast, by insurance cover
7.7.1.1.2.Market size and forecast, by distribution channel
7.7.1.1.3.Market size and forecast, by end user

7.8.Switzerland

7.8.1.1.Key market trends, growth factors, and opportunities

7.8.1.1.1.Market size and forecast, by insurance cover
7.8.1.1.2.Market size and forecast, by distribution channel
7.8.1.1.3.Market size and forecast, by end user

7.9.Austria

7.9.1.1.Key market trends, growth factors, and opportunities

7.9.1.1.1.Market size and forecast, by insurance cover
7.9.1.1.2.Market size and forecast, by distribution channel
7.9.1.1.3.Market size and forecast, by end user

7.10.Rest of Europe

7.10.1.1.Key market trends, growth factors, and opportunities

7.10.1.1.1.Market size and forecast, by insurance cover
7.10.1.1.2.Market size and forecast, by distribution channel
7.10.1.1.3.Market size and forecast, by end user

CHAPTER 8:COMPETITIVE LANDSCAPE

8.1.Introduction

8.1.1.1.Market player positioning, 2019
8.1.1.2.Top winning strategies

CHAPTER 9:COMPANY PROFILES

9.1.Allianz

9.1.1.1.Company overview
9.1.1.2.Key executive
9.1.1.3.Company snapshot
9.1.1.4.Operating business segments
9.1.1.5.Product portfolio
9.1.1.6.Business performance
9.1.1.7.Key strategic moves and developments

9.2.American International Group, Inc.

9.2.1.1.Company overview
9.2.1.2.Key executive
9.2.1.3.Company snapshot
9.2.1.4.Operating business segments
9.2.1.5.Product portfolio
9.2.1.6.Business performance
9.2.1.7.Key strategic moves and developments

9.3.ASSICURAZIONI GENERALI S.P.A.

9.3.1.1.Company overview.
9.3.1.2.Key executive
9.3.1.3.Company snapshot
9.3.1.4.Product portfolio
9.3.1.5.Business performance
9.3.1.6.Key strategic moves and developments

9.4.Aviva

9.4.1.1.Company overview.
9.4.1.2.Key executive
9.4.1.3.Company snapshot
9.4.1.4.Operating business segments
9.4.1.5.Product portfolio
9.4.1.6.Business performance

9.5.AXA

9.5.1.1.Company overview
9.5.1.2.Key executive
9.5.1.3.Company snapshot
9.5.1.4.Operating business segments
9.5.1.5.Product portfolio
9.5.1.6.Business performance
9.5.1.7.Key strategic moves and developments

9.6.EUROPEAN Travel Insurance Group

9.6.1.1.Company overview
9.6.1.2.Company snapshot
9.6.1.3.Product portfolio

9.7.INSURE & GO INSURANCE SERVICES LIMITED

9.7.1.1.Company overview
9.7.1.2.Key executive
9.7.1.3.Company snapshot
9.7.1.4.Product portfolio

9.8.Mutuaide

9.8.1.1.Company overview
9.8.1.2.Key executive
9.8.1.3.Company snapshot
9.8.1.4.Product portfolio

9.9.APRIL Group

9.9.1.1.Company overview
9.9.1.2.Key executive
9.9.1.3.Company snapshot
9.9.1.4.Operating business segments
9.9.1.5.Product portfolio
9.9.1.6.Business performance

9.10.Zurich

9.10.1.Company overview
9.10.2.Key executive
9.10.3.Company snapshot
9.10.4.Product portfolio
9.10.5.Business performance
9.10.6.Key strategic moves and developments

LIST OF TABLES

TABLE 01.EUROPE TRAVEL INSURANCE MARKET REVENUE, BY INSURANCE COVER, 2019–2027 ($MILLION)
TABLE 02.EUROPE TRAVEL INSURANCE MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019–2027 ($MILLION)
TABLE 03.EUROPE TRAVEL INSURANCE MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 04.EUROPE TRAVEL INSURANCE MARKET REVENUE, BY COUNTRY, 2019–2027 ($MILLION)
TABLE 05.UK TRAVEL INSURANCE MARKET REVENUE, BY INSURANCE COVER, 2019–2027 ($MILLION)
TABLE 06.UK TRAVEL INSURANCE MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019–2027 ($MILLION)
TABLE 07.UK TRAVEL INSURANCE MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 08.GERMANY TRAVEL INSURANCE MARKET REVENUE, BY INSURANCE COVER, 2019–2027 ($MILLION)
TABLE 09.GERMANY TRAVEL INSURANCE MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019–2027 ($MILLION)
TABLE 10.GERMANY TRAVEL INSURANCE MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 11.FRANCE TRAVEL INSURANCE MARKET REVENUE, BY INSURANCE COVER, 2019–2027 ($MILLION)
TABLE 12.FRANCE TRAVEL INSURANCE MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019–2027 ($MILLION)
TABLE 13.FRANCE TRAVEL INSURANCE MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 14.ITALY TRAVEL INSURANCE MARKET REVENUE, BY INSURANCE COVER, 2019–2027 ($MILLION)
TABLE 15.ITALY TRAVEL INSURANCE MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019–2027 ($MILLION)
TABLE 16.ITALY TRAVEL INSURANCE MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 17.SPAIN TRAVEL INSURANCE MARKET REVENUE, BY INSURANCE COVER, 2019–2027 ($MILLION)
TABLE 18.SPAIN TRAVEL INSURANCE MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019–2027 ($MILLION)
TABLE 19.SPAIN TRAVEL INSURANCE MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 20.NETHERLANDS TRAVEL INSURANCE MARKET REVENUE, BY INSURANCE COVER, 2019–2027 ($MILLION)
TABLE 21.NETHERLANDS TRAVEL INSURANCE MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019–2027 ($MILLION)
TABLE 22.NETHERLANDS TRAVEL INSURANCE MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 23.SWITZERLAND TRAVEL INSURANCE MARKET REVENUE, BY INSURANCE COVER, 2019–2027 ($MILLION)
TABLE 24.SWITZERLAND TRAVEL INSURANCE MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019–2027 ($MILLION)
TABLE 25.SWITZERLAND TRAVEL INSURANCE MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 26.AUSTRIA TRAVEL INSURANCE MARKET REVENUE, BY INSURANCE COVER, 2019–2027 ($MILLION)
TABLE 27.AUSTRIA TRAVEL INSURANCE MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019–2027 ($MILLION)
TABLE 28.AUSTRIA TRAVEL INSURANCE MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 29.REST OF EUROPE TRAVEL INSURANCE MARKET REVENUE, BY INSURANCE COVER, 2019–2027 ($MILLION)
TABLE 30.REST OF EUROPE TRAVEL INSURANCE MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019–2027 ($MILLION)
TABLE 31.REST OF EUROPE TRAVEL INSURANCE MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 32.ALLIANZ: KEY EXECUTIVE
TABLE 33.ALLIANZ: COMPANY SNAPSHOT
TABLE 34.ALLIANZ: OPERATING SEGMENTS
TABLE 35.ALLIANZ: PRODUCT PORTFOLIO
TABLE 36.AMERICAN INTERNATIONAL GROUP, INC.: KEY EXECUTIVE
TABLE 37.AMERICAN INTERNATIONAL GROUP, INC.: COMPANY SNAPSHOT
TABLE 38.AMERICAN INTERNATIONAL GROUP, INC. OPERATING SEGMENTS
TABLE 39.AMERICAN INTERNATIONAL GROUP, INC.: PRODUCT PORTFOLIO
TABLE 40.ASSICURAZIONI GENERALI S.P.A.: KEY EXECUTIVE
TABLE 41.ASSICURAZIONI GENERALI S.P.A.: COMPANY SNAPSHOT
TABLE 42.ASSICURAZIONI GENERALI S.P.A.: PRODUCT PORTFOLIO
TABLE 43.AVIVA: KEY EXECUTIVE
TABLE 44.AVIVA: COMPANY SNAPSHOT
TABLE 45.AVIVA: OPERATING SEGMENTS
TABLE 46.AVIVA: PRODUCT PORTFOLIO
TABLE 47.AXA: KEY EXECUTIVE
TABLE 48.AXA: COMPANY SNAPSHOT
TABLE 49.AXA: OPERATING CATEGORIES
TABLE 50.AXA: PRODUCT PORTFOLIO
TABLE 51.EUROPEAN TRAVEL INSURANCE GROUP: COMPANY SNAPSHOT
TABLE 52.EUROPEAN TRAVEL INSURANCE GROUP: PRODUCT PORTFOLIO
TABLE 53.INSURE & GO INSURANCE SERVICES LIMITED: KEY EXECUTIVE
TABLE 54.INSURE & GO INSURANCE SERVICES LIMITED: COMPANY SNAPSHOT
TABLE 55.INSURE & GO INSURANCE SERVICES LIMITED: PRODUCT PORTFOLIO
TABLE 56.MUTUAIDE: KEY EXECUTIVE
TABLE 57.MUTUAIDE: COMPANY SNAPSHOT
TABLE 58.MUTUAIDE: PRODUCT PORTFOLIO
TABLE 59.APRIL GROUP: KEY EXECUTIVE
TABLE 60.APRIL GROUP: COMPANY SNAPSHOT
TABLE 61.APRIL GROUP: OPERATING CATEGORIES
TABLE 62.APRIL GROUP: PRODUCT PORTFOLIO
TABLE 63.ZURICH: KEY EXECUTIVE
TABLE 64.ZURICH: COMPANY SNAPSHOT
TABLE 65.ZURICH: PRODUCT PORTFOLIO

LIST OF FIGURES

FIGURE 01.KEY MARKET SEGMENTS
FIGURE 02.EUROPE TRAVEL INSURANCE MARKET, 2019–2027
FIGURE 04.TOP IMPACTING FACTORS
FIGURE 05.TOP INVESTMENT POCKETS
FIGURE 06.LOW BARGAINING POWER OF SUPPLIERS
FIGURE 07.HIGH BARGAINING POWER OF BUYER
FIGURE 08.MODERATE THREAT OF SUBSTITUTES
FIGURE 09.MODERATE THREAT OF NEW ENTRANTS
FIGURE 10.HIGH COMPETITIVE RIVALRY
FIGURE 11.EUROPE TRAVEL INSURANCE MARKET, BY INSURANCE COVER, 2019-2027
FIGURE 12.COMPARATIVE SHARE ANALYSIS OF EUROPE TRAVEL INSURANCE MARKET FOR SINGLE-TRIP TRAVEL INSURANCE, BY COUNTRY, 2019 & 2027 (%)
FIGURE 13.COMPARATIVE SHARE ANALYSIS OF EUROPE TRAVEL INSURANCE MARKET FOR ANNUAL MULTI-TRIP TRAVEL INSURANCE, BY COUNTRY, 2019 & 2027 (%)
FIGURE 14.COMPARATIVE SHARE ANALYSIS OF EUROPE TRAVEL INSURANCE MARKET FOR LONG-STAY TRAVEL INSURANCE, BY COUNTRY, 2019 & 2027 (%)
FIGURE 15.EUROPE TRAVEL INSURANCE MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019-2027 ($MILLION)
FIGURE 16.COMPARATIVE SHARE ANALYSIS OF EUROPE TRAVEL INSURANCE MARKET FOR INSURANCE INTERMEDIARIES, BY COUNTRY, 2019 & 2027(%)
FIGURE 17.COMPARATIVE SHARE ANALYSIS OF EUROPE TRAVEL INSURANCE MARKET FOR INSURANCE COMPANIES, BY COUNTRY, 2019 & 2027(%)
FIGURE 18.COMPARATIVE SHARE ANALYSIS OF EUROPE TRAVEL INSURANCE MARKET FOR BANKS, BY COUNTRY,  2019 & 2027(%)
FIGURE 19.COMPARATIVE SHARE ANALYSIS OF EUROPE TRAVEL INSURANCE MARKET FOR INSURANCE BORKERS, BY COUNTRY, 2019 & 2027(%)
FIGURE 20.COMPARATIVE SHARE ANALYSIS OF EUROPE TRAVEL INSURANCE MARKET FOR INSURANCE AGGREGATORS, BY COUNTRY, 2019 & 2027(%)
FIGURE 21.EUROPE TRAVEL INSURANCE MARKET REVENUE, BY END USER, 2019-2027 ($MILLION)
FIGURE 22.COMPARATIVE SHARE ANALYSIS OF EUROPE TRAVEL INSURANCE MARKET FOR SENIOR CITIZENS, BY COUNTRY,  2019 & 2027(%)
FIGURE 23.COMPARATIVE SHARE ANALYSIS OF EUROPE TRAVEL INSURANCE MARKET FOR EDUCATION TRAVELERS, BY COUNTRY, 2019 & 2027(%)
FIGURE 24.COMPARATIVE SHARE ANALYSIS OF EUROPE TRAVEL INSURANCE MARKET FOR BUSINESS TRAVELERS, BY COUNTRY, 2019 & 2027(%)
FIGURE 25.COMPARATIVE SHARE ANALYSIS OF EUROPE TRAVEL INSURANCE MARKET FOR FAMILY TRAVELERS, BY COUNTRY, 2019 & 2027(%)
FIGURE 26.COMPARATIVE SHARE ANALYSIS OF EUROPE TRAVEL INSURANCE MARKET FOR OTHERS, BY COUNTRY,  2019 & 2027(%)
FIGURE 27.UK TRAVEL INSURANCE MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 28.GERMANY TRAVEL INSURANCE MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 29.FRANCE TRAVEL INSURANCE MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 30.ITALY TRAVEL INSURANCE MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 31.SPAIN TRAVEL INSURANCE MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 32.NETHERLANDS TRAVEL INSURANCE MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 33.SWITZERLAND TRAVEL INSURANCE MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 34.AUSTRIA TRAVEL INSURANCE MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 35.REST OF EUROPE TRAVEL INSURANCE MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 36.MARKET PLAYER POSITIONING, 2019
FIGURE 37.TOP WINNING STRATEGIES, BY YEAR, 2018-2020
FIGURE 38.TOP WINNING STRATEGIES, BY DEVELOPMENT, 2018-2020
FIGURE 39.TOP WINNING STRATEGIES, BY COMPANY, 2018-2020
FIGURE 40.ALLIANZ: NET SALES, 2017–2019 ($MILLION)
FIGURE 41.ALLIANZ: REVENUE SHARE BY SEGMENT (2019)
FIGURE 42.AMERICAN INTERNATIONAL GROUP, INC.: NET SALES, 2017–2019 ($MILLION)
FIGURE 43.AMERICAN INTERNATIONAL GROUP, INC.: REVENUE SHARE, BY SEGMENT (2019)
FIGURE 44.AMERICAN INTERNATIONAL GROUP, INC.: REVENUE SHARE, BY REGION (2019)
FIGURE 45.ASSICURAZIONI GENERALI S.P.A.: NET PROFIT, 2017–2019 ($MILLION)
FIGURE 46.AVIVA: NET PROFIT, 2017–2019 ($MILLION)
FIGURE 47.AXA: NET SALES, 2017–2019 ($MILLION)
FIGURE 48.AXA: REVENUE SHARE BREAKDOWN (2019)
FIGURE 49.APRIL GROUP: NET SALES, 2016–2018 ($MILLION)
FIGURE 50.APRIL GROUP: REVENUE SHARE, BY SEGMENT (2018)
FIGURE 51.APRIL GROUP: REVENUE SHARE, BY REGION (2018)
FIGURE 52.ZURICH: NET SALES, 2017–2019 ($MILLION)

 
 

Travel insurance providers in the region are looking forward to expanding their offerings to provide customized coverages for their customers. In addition, millennials, Gen Y, and Gen Z are the major users of travel insurance and are more inclined toward availing travel insurance policies. Therefore, insurers have lucrative opportunities to innovate their offerings via several online sources. Nevertheless, a considerable number of companies remain under the perception that they have minimum travel insurance exposure.

However, the Europe travel insurance market is anticipated to recover the incurred losses and gain profit by the third quarter of 2022. This is attributed to an increase in sale of travel insurance policies due to rise in tourism as well as higher awareness about travel risk among different types of travelers. Consequently, there is an increase in customers buying travel insurance policy in the region, especially due to online comparison-shopping sites such as direct airlines portals, online travel agency (OTA) among others, which are more convenient and easier to compare premium & coverages of a policy.

The Europe travel insurance market is consolidated with the presence of key vendors such as Zurich, Allianz, and AXA. Some of the key players profiled in the report include American International Group, Inc., Assicurazioni Generali S.P.A., Aviva, EUROPEAN Travel Insurance Group, Insure & Go Insurance Services Limited, Mutuaide, and The April Group. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

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FREQUENTLY ASKED QUESTIONS?
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A. The Europe Travel Insurance Market is expected to grow at a CAGR of 14.4% from 2020 to 2027.

A. The Europe Travel Insurance Market is estimated to reach $10.39 billion by 2027.

A. To get the latest version of sample report

A. Mandatory rules & regulations imposed by the government and increase in tourism boosts the Europe Travel Insurance market growth.

A. The key players profiled in the report include Allianz, American International Group Inc., Assicurazioni Generali S.P.A., Aviva, AXA, EUROPEAN Travel Insurance Group, The April Group, Zurich and many more.

A. On the basis of top growing big corporations, we select top 10 players.

A. The Europe Travel Insurance Market is segmented on the basis of insurance cover, distribution channel, end user, and region.

A. The key growth strategies of Europe Travel Insurance market players include product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations.

A. Annual Multi-Trip Travel Insurance segment would exhibit the highest CAGR of 17.8% during 2020 - 2027.

A. Family Travelers segment is expected to secure the leading position throughout the forecast period.

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