Cart
0

LAMEA Travel Insurance Market by Distribution Channel (Insurance Intermediaries, Insurance Companies, Banks, Insurance Brokers, Insurance Aggregators, and Others), Insurance Cover (Single Trip, Annual Multi-trip, and Long Stay), and End User (Senior Citizens, Educational Travelers, Backpackers, Business Travelers, Family Travelers, and Fully Independent Travelers): Opportunity Analysis and Industry Forecast, 2016-2022

Get 20% Free Customization In This Report
BF_182270
Pages: NA
Jan 2019 | 1922 Views
 
Author's : NA
Tables: NA
Charts: NA
 

Travel insurance minimizes the risks during travel and intends to cover losses experienced by trip cancellation due to medical emergency, loss of baggage, evacuation due to medical condition or hijack, loss of travel documents, and others. Within LAMEA, The travel insurance market in Latin America is expected to grow the highest notable CAGR of 10.9% during the forecast period of 2016 - 2022, owing to a significant increase in the number of outbound travelers. In 2014, 16.7% of the total outbound travelers have booked their trips online, thus creating a growth opportunity for the travel insurance market. As per the United Nations World Tourism Organization (UNWTO) statistics, the number of outbound travelers in the MENA (Middle East and North Africa) region is expected to reach 81 million by 2013.

Furthermore, growth in domestic market, owing to the rise in the purchasing power of the middle-class population, boosts the economic growth in LAMEA. This in turn, has a positive effect on domestic traveling, which is growing at a steady rate, creating several opportunities for the travel insurance market. However, lack of familiarity with insurance and assistance benefits impedes the market growth.

In 2015, Latin America accounted for the highest share within the LAMEA travel insurance market. At present, the penetration level of travel insurance in Latin America is nearly 10% thus, possessing significant growth potential. Moreover, economic factors and prior investment in tourism are expected to drive the travel insurance industry in Latin America. However, highly unregulated travel insurance policies across various countries in Latin America create a major challenge for the insurance service providers to develop their business in this region.

The market is segmented on the basis of distribution channel, insurance cover, end user, and geography. Based on distribution channel, it is classified into insurance intermediaries, insurance companies, banks, insurance brokers, insurance aggregators, and others. Based on insurance cover, it is categorized into single trip, annual multi-trip, and long stay. Based on end user, it is divided into senior citizens, education travelers, backpackers, business travelers, family travelers, and fully independent travelers. Geographically, it is analyzed across Latin America, Middle East, and Africa. The key players profiled in the report include The April Group (France), Zurich Insurance Group (Switzerland), Allianz Group (Germany), MAPFRE U.S.A. Corp. (U.S.), Travel Ace Assistance (Brazil), HSBC Bank Middle East Limited (Middle East), RSA Group Plc. (U.K.), Collinson Group Limited (UK), Middle East Insurance Co. (Middle East), and AXA Cooperative Insurance (Middle East).

Key Benefits

  • This study provides an in-depth analysis of the LAMEA travel insurance market, in terms of value, to elucidate the imminent investment pockets.
  • A detailed impact analysis of the current trends, region-wise travel insurance market, and future estimations is provided to target the profitable sectors.
  • The drivers, restraints, and opportunities are analyzed to identify the prevailing market opportunities.
  • Porters Five Forces analysis highlights the potency of suppliers and buyers in the competitive market to facilitate efficient business planning.

LAMEA Travel Insurance Market Key Segments:

By Distribution Channel

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

By Insurance Cover

  • Single Trip
  • Annual Multi-trip
  • Long Stay

By End User

  • Senior Citizens
  • Education Travelers
  • Backpackers
  • Business Travelers
  • Family Travelers
  • Fully Independent Travelers

By Geography

  • Latin America
  • Middle East
  • Africa

Key players in the value chain

  • The April Group (France)
  • Zurich Insurance Group (Switzerland)
  • Allianz Group (Germany)
  • MAPFRE U.S.A. Corp. (U.S.)
  • Travel Ace Assistance (Brazil)
  • HSBC Bank Middle East Limited (Middle East)
  • RSA Group Plc. (UK)
  • Collinson Group Limited (UK)
  • Middle East Insurance Co. (Middle East)
  • AXA Cooperative Insurance (Middle East)
  • Oman Insurance Company (Middle East)
  • Arab Orient Insurance Company (Middle East)
  • Mideast Assistance International Group (Middle East)
  • Hollard Insurance Company Limited (South Africa)
  • Santam International Ltd. (South Africa)
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

  • Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
  • Technologically sophisticated and reliable insights through well audited and veracious research methodology
  • Sovereign research proceeds that present a tangible depiction of marketplace


With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, web-casts and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast


Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 

PURCHASE OPTIONS

* Taxes/Fees, If applicable will be
added during checkout. All prices in USD.

Reach out to us

Call us on
( U.S. - Canada toll free )
+1-800-792-5285,    Int'l : +1-503-894-6022
Drop us an email at
help@alliedmarketresearch.com

Send Enquiry
 

Request TOC/Sample

Request Customization

Request TOC/Sample

OR

Purchase Full Report of
LAMEA Travel Insurance Market

  • Single User
  • $3390 $3051
  • Restricted to one authorized users
  • One print only
  • Available in Excel & PDF
  • 20% free customization (Pre-Sale)
  •   Free quartery industry update
  •   Free report update (Within 180 days)
  •   Subscription Model Sign In
  • Five User
  • $4072 $3665
  • Limited to 5 authorized users
  • Print Upto Five Copies
  • Available in Excel & PDF
  • 20% free customization (Pre-Sale)
  •   Free quartery industry update
  •   Free report update (Within 180 days)
  •   Subscription Model Sign In
  • Enterprise
    License/PDF

  • $5678 $5111
  • Unlimited within company/enterprise
  • Unlimited within company/enterprise
  • Available in Excel & PDF
  • 20% free customization (Pre-Sale)
  •   Free quartery industry update
  •   Free report update (Within 180 days)
  •   Subscription Model Sign In

*Taxes/Fees, if applicable will be added during checkout. All prices in USD

 

HAVE QUESTIONS?
SPEAK WITH ANALYST

 
 

FREQUENTLY ASKED
QUESTIONS?

 
 

DID YOU MISS ANYTHING?
DO YOU HAVE SPECIFIC REQUIREMENTS?

 
 
 

Why Allied Market Research

 

Infallible Methodology

To ensure high level data integrity, accurate analysis and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

 
 

Featured Reports

 
 

Featured Readings

 

Get Fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

 
Get Industry Data Alerts
 

Access reports on all emerging
market of BFSI on Knowledge Tree Platform
Free Demo