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Italy 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), Distribution Mode (Business-to-Business (B2B), Business-to-Consumer (B2C), and Business-to-Business-to-Consumer (B2B2C), and End User (Senior Citizens, Education Travelers, Business Travelers, Family Travelers, and Others): Opportunity Analysis and Industry Forecast, 2020–2027

A04176
Pages: 134
Jul 2020 | 5200 Views
 
Author(s) : Aarti Goswami, promod borasi , Vineet Kumar
Tables: 61
Charts: 28
 

COVID-19

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Italy Travel Insurance Market Outlook – 2027

The Italy travel insurance market size was valued at $440 million in 2019 and is projected to reach $909 million by 2027, growing at a CAGR of 17.5% from 2020 to 2027. Travel insurance is a type of insurance that provides protection for those traveling domestically or abroad. Primarily, it covers the costs & losses such as loss of baggage, evacuation due to medical condition or hijack, trip cancellation due to medical emergency, loss of travel documents, and other such losses associated with traveling. Key players in the country offer different plans by covering costs and losses depending on coverages in the policy.

Post COVID-19, the single-trip travel insurance accounted for the highest market share, owing to numerous features offered by these coverage policies, such as trip cancellation, injury and illness, public liability, emergency repatriation loss of baggage, and others.

Increase in tourism result in several incidences such as health issues, cancelled flights, accidents, theft or loss of baggage, natural calamities, and other such occurrences of uncertainties during travel. Therefore, to mitigate the risks associated with such incidences, consumers are opting for travel insurance, which is acting as a prime driver for the Italy travel insurance market. However, relaxed norms & low fluctuation in rates due to large number of competitors and lack of awareness regarding various insurance schemes and benefits of travel insurance have resulted in decline of gross written premium in the Italy travel insurance market.

Italy Travel Insurance Market

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On the contrary, expansion of existing products by including specific coverages such as pre-existing medical condition, COVID-19 related coverages and others, is providing an immense potential to the travel insurance providers in the country. Moreover, technological developments such as global positioning system (GPS), artificial intelligence (AI), geo-location, application program interface (API), data analytics, among others are providing innovative opportunities for insurers in the market. Thus, these factors are expected to provide lucrative opportunities during the forecast period.

The single-trip travel insurance dominated the Italy travel insurance market industry in 2019 and is projected to maintain its dominance during the forecast period. Due to increased demand for customized coverage offerings under this policy and are available at an extra premium cost depending on customers need and demands. In addition, rise in number of multi-generation travelers such as grandparents, parents, and grandchildren availing single-trip travel personalized coverages with an extra premium are becoming major factors driving the Italy travel insurance market growth.

The report focuses on the growth prospects, restraints, and trends of the Italy 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 Italy travel insurance market.

 

Italy Travel Insurance Market
By Insurance Cover

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Single-Trip Travel Insurance segment will dominate the market throughout the forecast period

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Segment Review

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

 

Italy Travel Insurance Market
By Distribution Channel

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Insurance Intermediaries segment holds a dominant position in 2019 and would maintain the lead during 2020-2027

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Based on distribution channel, it is classified into insurance intermediaries, insurance companies, banks, insurance brokers, and insurance aggregators. On the basis of distribution mode, it is segmented into business-to-business (B2B), business-to-consumer (B2C), and business-to-business-to-consumer (B2B2C). Based on end user, it is segmented into senior citizens, education travelers, business travelers, family travelers, and others.

 

Italy Travel Insurance Market
By Distribution Mode

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Business-to-Consumer (B2C) segment would grow at a highest CAGR of 18.6% during the forecast period

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The report analyses the profiles of key players operating in the Italy travel insurance industry including Allianz, American International Group Inc., AXA, ASSICURAZIONI GENERALI S.P.A., Cattolica Assicurazioni, Columbus Direct, ERGO Group AG, IMA Italia Assistance S.p.A., Insure & Go Insurance Services Limited, Italy Travel Company, MAPFRE, Nobis Insurance Company SpA, and Reale Mutua Assicurazioni. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

 

Italy Travel Insurance Market
By End User

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Business Travelers segment would exhibit the highest CAGR of 20.2% during 2020-2027

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COVID-19 Impact Analysis

The coronavirus pandemic has a significant impact on the Italy travel insurance market, as several countries have imposed travel ban. Also, policyholders are filing claims for cancelled holidays & business trips and changing the terms of their policies. This has led to insurers freezing sales of new coverages for travel insurance in the country.

Furthermore, dealing with an unprecedented increase in the volume of claims, administer existing policies, rise in influx of new claims, address customer inquiries, and process claims are some of the critical challenges faced by the Italy travel insurance providers in the market. Therefore, to overcome these several challenges, insurers have established new developments existing policies & adopted technologies to enhance the claim processes and provide better user experience, despite the global health crisis.

Top Impacting Factors

Rapid Growth in Tourism

Rise in tourist population owing to increase in disposable income, extensive coverage for holidays, easy online travel booking options, among others has attributed to the growth of the tourism industry in the country. With an increase in tourism, several incidences such as cancelled flights, accidents, health issues, theft or loss of baggage, natural calamities, and other such occurrences of uncertainties during travel. To mitigate the risks associated with such incidences, consumers are opting for travel insurance. Therefore, the growth of the tourism industry is acting as a prime driver for the Italy travel insurance market.

New Technological Developments in the Italy Travel Insurance Industry

Increase in 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 country. With these technological developments, travel insurance distribution platforms are expected to enhance productivity for providing coverages seamlessly at the point-of-purchase. Moreover, digital transformation enables travel insurance companies to create highly personalized user experiences to their customers.

Further, in order to maintain the market position, insurers are considering use of big data analytics that offer possibilities of generating large premiums. In addition, technologies help in data collection, cater to customer specific needs, calculate risk, and detect fraud. Therefore, easy accessibility and convenient travel insurance offerings by technological advancements are expected to provide lucrative opportunities for insures in the country.

Key Benefits for Stakeholders:

  • The study provides an in-depth analysis of the Italy 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 Italy travel insurance market trends.
  • The quantitative analysis of the Italy travel insurance market from 2020 to 2027 is provided to determine the market potential.

 

Italy 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 Distribution Mode

  • Business-to-Business (B2B)
  • Business-to-Consumer (B2C)
  • Business-to-Business-to-Consumer (B2B2C)

By End User

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

Key Market Players

  • Allianz
  • American International Group Inc.
  • AXA
  • ASSICURAZIONI GENERALI S.P.A.
  • Cattolica Assicurazioni
  • Columbus Direct
  • ERGO Group AG
  • IMA Italia Assistance S.p.A.
  • Insure & Go Insurance Services Limited
  • Italy Travel Company
  • MAPFRE
  • Nobis Insurance Company SpA
  • Reale Mutua Assicurazioni
 

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. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools & models

CHAPTER 2: EXECUTIVE SUMMARY

2.1. Key findings

2.1.1. Top impacting factors
2.1.2. Top investment pockets

2.2. CXO perspective

CHAPTER 3: MARKET OVERVIEW

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

3.3.1. Drivers

3.3.1.1. Rapid growth in tourism
3.3.1.2. Convenient shopping due to online comparison sites
3.3.1.3. Travel rule and regulations

3.3.2. Restraint

3.3.2.1. Lack of awareness regarding travel insurance policy

3.3.3. Opportunities

3.3.3.1. Expansion of products and services
3.3.3.2. New technological developments in the Italy travel insurance industry

3.4. COVID-19 impact analysis on Italy travel insurance market

3.4.1. Impact on travel & tourism industry
3.4.2. Impact on Italy travel insurance market size
3.4.3. Change in travelers’ trends, preferences, and budget impact due to COVID-19
3.4.4. Framework for solving market challenges faced by travel insurance providers and policy adopters in the country
3.4.5. Economic impact on travel insurers
3.4.6. Key player strategies to tackle negative impact in the industry
3.4.7. Opportunity analysis for travel insurance policy providers

CHAPTER 4: ITALY TRAVEL INSURANCE MARKET, BY INSURANCE COVER

4.1. Overview
4.2. Single-trip travel insurance

4.2.1. Key market trends, growth factors, and opportunities
4.2.2. Market size and forecast

4.3. Annual multi-trip travel insurance

4.3.1. Key market trends, growth factors, and opportunities
4.3.2. Market size and forecast

4.4. Long-stay travel insurance

4.4.1. Key market trends, growth factors, and opportunities
4.4.2. Market size and forecast

CHAPTER 5: ITALY TRAVEL INSURANCE MARKET, BY DISTRIBUTION CHANNEL

5.1. Overview
5.2. Insurance intermediaries

5.2.1. Key market trends, growth factors, and opportunities
5.2.2. Market size and forecast

5.3. Insurance companies

5.3.1. Key market trends, growth factors, and opportunities
5.3.2. Market size and forecast

5.4. Banks

5.4.1. Key market trends, growth factors, and opportunities
5.4.2. Market size and forecast

5.5. Insurance brokers

5.5.1. Key market trends, growth factors, and opportunities
5.5.2. Market size and forecast

5.6. Insurance aggregators

5.6.1. Key market trends, growth factors, and opportunities
5.6.2. Market size and forecast

CHAPTER 6: ITALY TRAVEL INSURANCE MARKET, BY DISTRIBUTION MODE

6.1. Overview
6.2. Business-to-business (B2B)

6.2.1. Key market trends, growth factors, and opportunities
6.2.2. Market size and forecast

6.3. Business-to-consumer (B2C)

6.3.1. Key market trends, growth factors, and opportunities
6.3.2. Market size and forecast

6.4. Business-to-business-to-consumer (B2B2C)

6.4.1. Key market trends, growth factors, and opportunities
6.4.2. Market size and forecast

CHAPTER 7: ITALY TRAVEL INSURANCE MARKET, BY END USER

7.1. Overview
7.2. Senior citizens

7.2.1. Key market trends, growth factors, and opportunities
7.2.2. Market size and forecast

7.3. Education travelers

7.3.1. Key market trends, growth factors, and opportunities
7.3.2. Market size and forecast

7.4. Business travelers

7.4.1. Key market trends, growth factors, and opportunities
7.4.2. Market size and forecast

7.5. Family travelers

7.5.1. Key market trends, growth factors, and opportunities
7.5.2. Market size and forecast

7.6. Others

7.6.1. Key market trends, growth factors, and opportunities
7.6.2. Market size and forecast

CHAPTER 8: COMPETITIVE LANDSCAPE

8.1. Introduction

8.1.1. Market player positioning, 2019
8.1.2. Top winning strategies

CHAPTER 9: COMPANY PROFILES

9.1. ALLIANZ GROUP

9.1.1. Company overview
9.1.2. Key executive
9.1.3. Company snapshot
9.1.5. Operating business segments
9.1.6. Product portfolio
9.1.7. Business performance
9.1.8. Key strategic moves and developments

9.2. AMERICAN INTERNATIONAL GROUP, INC.

9.2.1. Company overview
9.2.2. Key executive
9.2.3. Company snapshot
9.2.4. Operating business segments
9.2.5. Product portfolio
9.2.6. Business performance
9.2.7. Key strategic moves and developments

9.3. AXA

9.3.1. Company overview
9.3.2. Key executive
9.3.3. Company snapshot
9.3.4. Operating business segments
9.3.5. Product portfolio
9.3.6. Business performance
9.3.7. Key strategic moves and developments

9.4. ASSICURAZIONI GENERALI S.P.A.

9.4.1. Company overview
9.4.2. Key executive
9.4.3. Company snapshot
9.4.4. Product portfolio
9.4.5. Business performance
9.4.6. Key strategic moves and developments

9.5. CATTOLICA ASSICURAZIONI

9.5.1. Company overview
9.5.2. Key executive
9.5.3. Company snapshot
9.5.4. Product portfolio
9.5.5. Business performance

9.6. COLUMBUS DIRECT

9.6.1. Company overview
9.6.2. Key executive
9.6.3. Company snapshot
9.6.4. Product portfolio

9.7. ERGO GROUP AG

9.7.1. Company overview
9.7.2. Key executive
9.7.3. Company snapshot
9.7.4. Product portfolio

9.8. IMA ITALIA ASSISTANCE S.p.A.

9.8.1. Company overview
9.8.2. Key executive
9.8.3. Company snapshot
9.8.4. Product portfolio

9.9. INSURE & GO INSURANCE SERVICES LIMITED

9.9.1. Company overview
9.9.2. Key executive
9.9.3. Company snapshot
9.9.4. Product portfolio

9.10. ITALY TRAVEL COMPANY

9.10.1. Company overview
9.10.2. Company snapshot
9.10.3. Product portfolio

9.11. MAPFRE

9.11.1. Company overview
9.11.2. Key executive
9.11.3. Company snapshot
9.11.4. Product portfolio
9.11.5. Business performance

9.12. NOBIS INSURANCE COMPANY SpA

9.12.1. Company overview
9.12.2. Key executive
9.12.3. Company snapshot
9.12.4. Product portfolio
9.12.5. Key strategic moves and developments

9.13. REALE MUTUA ASSICURAZIONI

9.13.1. Company overview
9.13.2. Key executive
9.13.3. Company snapshot
9.13.4. Product portfolio

 LIST OF TABLES

TABLE 01. ITALY TRAVEL INSURANCE MARKET REVENUE, BY INSURANCE COVER, 2019–2027 ($MILLION)
TABLE 02. ITALY TRAVEL INSURANCE MARKET REVENUE FOR SINGLE-TRIP INSURANCE, 2019–2027 ($MILLION)
TABLE 03. ITALY TRAVEL INSURANCE MARKET REVENUE FOR ANNUAL MULTI-TRIP INSURANCE, 2019–2027 ($MILLION)
TABLE 04. ITALY TRAVEL INSURANCE MARKET REVENUE FOR LONG-STAY TRAVEL INSURANCE, 2019–2027 ($MILLION)
TABLE 05. ITALY TRAVEL INSURANCE MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019-2027 ($MILLION)
TABLE 06. ITALY TRAVEL INSURANCE MARKET REVENUE FOR INSURANCE INTERMEDIARIES, 2019–2027 ($MILLION)
TABLE 07. ITALY TRAVEL INSURANCE MARKET REVENUE FOR INSURANCE COMPANIES, 2019–2027 ($MILLION)
TABLE 08. ITALY TRAVEL INSURANCE MARKET REVENUE FOR BANKS, 2019–2027 ($MILLION)
TABLE 09. ITALY TRAVEL INSURANCE MARKET REVENUE FOR INSURANCE BROKERS, 2019–2027 ($MILLION)
TABLE 10. ITALY TRAVEL INSURANCE MARKET REVENUE FOR INSURANCE AGGREGATORS, 2019–2027 ($MILLION)
TABLE 11. ITALY TRAVEL INSURANCE MARKET REVENUE, BY DISTRIBUTION MODE, 2019-2027 ($MILLION)
TABLE 12. ITALY TRAVEL INSURANCE MARKET REVENUE FOR B2B DISTRIBUTION MODE, 2019–2027 ($MILLION)
TABLE 13. ITALY TRAVEL INSURANCE MARKET REVENUE FOR B2C DISTRIBUTION MODE, 2019–2027 ($MILLION)
TABLE 14. ITALY TRAVEL INSURANCE MARKET REVENUE FOR B2B2C DISTRIBUTION MODE, 2019–2027 ($MILLION)
TABLE 15. ITALY TRAVEL INSURANCE MARKET REVENUE, BY END USER, 2019-2027 ($MILLION)
TABLE 16. ITALY TRAVEL INSURANCE MARKET REVENUE FOR SENIOR CITIZENS, 2019–2027 ($MILLION)
TABLE 17. ITALY TRAVEL INSURANCE MARKET REVENUE FOR EDUCATION TRAVELERS, 2019–2027 ($MILLION)
TABLE 18. ITALY TRAVEL INSURANCE MARKET REVENUE FOR BUSINESS TRAVELERS, 2019–2027 ($MILLION)
TABLE 19. ITALY TRAVEL INSURANCE MARKET REVENUE FOR FAMILY TRAVELERS, 2019–2027 ($MILLION)
TABLE 20. ITALY TRAVEL INSURANCE MARKET REVENUE FOR OTHERS, 2019–2027 ($MILLION)
TABLE 21. ALLIANZ: KEY EXECUTIVE
TABLE 22. ALLIANZ: COMPANY SNAPSHOT
TABLE 23. ALLIANZ: OPERATING SEGMENTS
TABLE 24. ALLIANZ GROUP: PRODUCT PORTFOLIO
TABLE 25. AMERICAN INTERNATIONAL GROUP, INC.: KEY EXECUTIVE
TABLE 26. AMERICAN INTERNATIONAL GROUP, INC.: COMPANY SNAPSHOT
TABLE 27. AMERICAN INTERNATIONAL GROUP, INC. OPERATING SEGMENTS
TABLE 28. AMERICAN INTERNATIONAL GROUP, INC.: PRODUCT PORTFOLIO
TABLE 29. AXA: KEY EXECUTIVE
TABLE 30. AXA: COMPANY SNAPSHOT
TABLE 31. AXA: OPERATING CATEGORIES
TABLE 32. AXA: PRODUCT PORTFOLIO
TABLE 33. ASSICURAZIONI GENERALI S.P.A.: KEY EXECUTIVE
TABLE 34. ASSICURAZIONI GENERALI S.P.A.: COMPANY SNAPSHOT
TABLE 35. ASSICURAZIONI GENERALI S.P.A.: PRODUCT PORTFOLIO
TABLE 36. CATTOLICA ASSICURAZIONI: KEY EXECUTIVE
TABLE 37. CATTOLICA ASSICURAZIONI: COMPANY SNAPSHOT
TABLE 38. CATTOLICA ASSICURAZIONI: PRODUCT PORTFOLIO
TABLE 39. COLUMBUS DIRECT: KEY EXECUTIVE
TABLE 40. COLUMBUS DIRECT: COMPANY SNAPSHOT
TABLE 41. COLUMBUS DIRECT: PRODUCT PORTFOLIO
TABLE 42. ERGO GROUP AG: KEY EXECUTIVE
TABLE 43. ERGO GROUP AG: COMPANY SNAPSHOT
TABLE 44. ERGO GROUP AG: PRODUCT PORTFOLIO
TABLE 45. IMA ITALIA ASSISTANCE S.P.A.: KEY EXECUTIVE
TABLE 46. IMA ITALIA ASSISTANCE S.P.A.: COMPANY SNAPSHOT
TABLE 47. IMA ITALIA ASSISTANCE S.P.A.: PRODUCT PORTFOLIO
TABLE 48. INSURE & GO INSURANCE SERVICES LIMITED: KEY EXECUTIVE
TABLE 49. INSURE & GO INSURANCE SERVICES LIMITED: COMPANY SNAPSHOT
TABLE 50. INSURE & GO INSURANCE SERVICES LIMITED: PRODUCT PORTFOLIO
TABLE 51. ITALY TRAVEL COMPANY: COMPANY SNAPSHOT
TABLE 52. ITALY TRAVEL COMPANY: PRODUCT PORTFOLIO
TABLE 53. MAPFRE: KEY EXECUTIVE
TABLE 54. MAPFRE: COMPANY SNAPSHOT
TABLE 55. MAPFRE: PRODUCT PORTFOLIO
TABLE 56. NOBIS INSURANCE COMPANY SPA: KEY EXECUTIVE
TABLE 57. NOBIS INSURANCE COMPANY SPA: COMPANY SNAPSHOT
TABLE 58. NOBIS INSURANCE COMPANY SPA: PRODUCT PORTFOLIO
TABLE 59. REALE MUTUA ASSICURAZIONI: KEY EXECUTIVE
TABLE 60. REALE MUTUA ASSICURAZIONI: COMPANY SNAPSHOT
TABLE 61. REALE MUTUA ASSICURAZIONI: PRODUCT PORTFOLIO

LIST OF FIGURES

FIGURE 01. KEY MARKET SEGMENTS
FIGURE 02. ITALY 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. ITALY TRAVEL INSURANCE MARKET, BY INSURANCE COVER, 2019-2027
FIGURE 12. ITALY TRAVEL INSURANCE MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019-2027 ($MILLION)
FIGURE 13. ITALY TRAVEL INSURANCE MARKET REVENUE, BY DISTRIBUTION MODE, 2019-2027 ($MILLION)
FIGURE 14. ITALY TRAVEL INSURANCE MARKET REVENUE, BY END USER, 2019-2027 ($MILLION)
FIGURE 15. MARKET PLAYER POSITIONING, 2019
FIGURE 16. TOP WINNING STRATEGIES, BY YEAR, 2018-2020
FIGURE 17. TOP WINNING STRATEGIES, BY DEVELOPMENT, 2018-2020
FIGURE 18. TOP WINNING STRATEGIES, BY COMPANY, 2018-2020
FIGURE 19. ALLIANZ: NET SALES, 2017–2019 ($MILLION)
FIGURE 20. ALLIANZ: REVENUE SHARE BY SEGMENT (2019)
FIGURE 21. AMERICAN INTERNATIONAL GROUP, INC.: NET SALES, 2017–2019 ($MILLION)
FIGURE 22. AMERICAN INTERNATIONAL GROUP, INC.: REVENUE SHARE BY SEGMENT (2019)
FIGURE 23. AMERICAN INTERNATIONAL GROUP, INC.: REVENUE SHARE BY REGION (2019)
FIGURE 24. AXA:NET SALES, 2017–2019 ($MILLION)
FIGURE 25. AXA: REVENUE SHARE BY SEGMENT (2019)
FIGURE 26. ASSICURAZIONI GENERALI S.P.A.: NET PROFIT, 2017–2019 ($MILLION)
FIGURE 27. CATTOLICA ASSICURAZIONI: NET PROFIT, 2017–2019 ($MILLION)
FIGURE 28. MAPFRE: NET PROFIT, 2017–2019 ($MILLION)

 
 

Travel insurance providers in the country 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, they tend to travel and explore the world as digital nomads. Therefore, insurers are having 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, this scenario is changing and the year 2019 has witnessed an increase in sale of travel insurance policies due to rise in tourism and higher awareness of travel risk among C-level executives. Consequently, there is an increase in customers buying travel insurance policy, 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 for the policy in the country.

The Italy travel insurance market is consolidated with the presence of key vendors such as Allianz, American International Group, Inc., AXA, ASSICURAZIONI GENERALI S.P.A. Some of the key players profiled in the report include Cattolica Assicurazioni, Columbus Direct, ERGO Group AG, IMA Italia Assistance S.p.A., Insure & Go Insurance Services Limited, Italy Travel Company, MAPFRE, Nobis Insurance Company SpA, and Reale Mutua Assicurazioni. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry. For instance, in the wake of COVID-19 pandemic, Nobis Insurance Company SpA has updated collective travel policies for free with new anti-covid-19 guarantees.

 

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FREQUENTLY ASKED QUESTIONS?
 

A. The Italy Travel Insurance Market is expected to grow at a CAGR of 17.5% from 2020 to 2027.

A. The Italy Travel Insurance Market is projected to reach $909 million by 2027.

A. The Italy Travel Insurance Market is projected to reach $909 million by 2027.

A. To get the latest version of sample report

A. Rapid Growth in Tourism and New Technological Developments in the Insurance Industry drive the Italy Travel Insurance market growth.

A. The key players profiled in the report include Allianz, American International Group Inc., AXA, ASSICURAZIONI GENERALI S.P.A., Cattolica Assicurazioni, Columbus Direct, ERGO Group AG, IMA Italia Assistance S.p.A., Insure & Go Insurance Services Limited, Italy Travel Company, MAPFRE, Nobis Insurance Company SpA, and Reale Mutua Assicurazioni.

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

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

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

A. Annual Multi-Trip Travel Insurance segment would grow at a highest CAGR of 20.5% during the forecast period.

A. Insurance Broker segment would exhibit the highest CAGR of 20.3% during 2020-2027.

 

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