North America Travel Insurance Market by Distribution Channel 2016-2022 - $8.16 Billion Opportunity Analysis and Industry Forecasts
DUBLIN, August 8, 2017 /PRNewswire/ --
The "North America Travel Insurance Market by Distribution Channel: Opportunity Analysis and Industry Forecast, 2016-2022" report has been added to Research and Markets' offering.
The North America travel insurance market was valued at $4,930 million in 2016, and is estimated to reach $8,165 million by 2022, registering a CAGR of 8.8% from 2016 to 2022. In 2016, the single trip insurance cover segment dominated the North American market.
The primary driver of the North America travel insurance market is the increase in number of outbound travelers in the region, wherein baby boomers have witnessed highest growth in terms of traveling. Moreover, baby boomers focus on secure travel, thus creating growth opportunities for the North American travel insurance market. Additionally, a notable increase in business travelers would also have a significant impact on the travel insurance market in the region.
U.S. is the market leader, accounting for nearly 43% share of the market in 2016, followed by Canada. U.S. dominates the North America travel insurance market, owing to the rise in multi-generational family travel. In addition, higher disposable income of the populace in the country supplements the demand for weekend getaways and trips.
From a growth perspective, Mexico is expected to exhibit the highest CAGR of 9.2% during the forecast period. The market growth in the country is attributable to the rise in number of initiatives by Mexican government, insurance companies, and the insurance regulatory bodies to create awareness about travel insurance among the masses and thereby increase the travel insurance adoption rate.
By insurance cover, single trip insurance policy is identified to be the most purchased insurance policy. The growth in executive travel for cross border business is a key factor for the adoption of single trip travel insurance policy. However, annual multi-trip insurance segment is anticipated to exhibit the highest CAGR during the forecast period (2016-2022), owing to the rise in number of number of business travelers and backpackers who opt for annual multi-trip insurance policy.
Key Topics Covered:
Chapter 1 Introduction
1.1. Report Description
1.2. Key Benefits
1.3. Key Market Segments
1.4. Research Methodology
Chapter 2 Executive Summary
2.1. Cxo Perspective
Chapter 3 Market Overview
3.1. Market Definition And Scope
3.2. Key Findings
3.3. Porters Five Forces Analysis
3.4. Market Positioning, 2016
3.5. Market Dynamics
Chapter 4 North America Travel Insurance Market
4.1. North America Travel Insurance Market, By Distribution Channel
4.2. North America Travel Insurance Market, By Insurance Cover
4.3. North America Travel Insurance Market, By End User
Chapter 5 North America Travel Insurance Market, By Country
5.1. U.S. Travel Insurance Market
5.2. Canada Travel Insurance Market
5.3. Mexico Travel Insurance Market
Chapter 6 Related Industry Insights
6.1. Usage Based Insurance Market
6.2. Cyber Insurance Market
Chapter 7: Company Profiles
- Seven Corners Inc. (U.S.)
- Travel Safe Insurance (Chester Perfetto Agency, Inc.) (U.S.)
- Usi Insurance Services, Llc. (U.S.)
- Mh Ross Travel Insurance Services, Inc. (U.S.)
- American International Group Inc. (U.S.)
- Travel Insured International (U.S.)
- Berkshire Hathaway Travel Protection (U.S.)
- Travelex Insurance Services Inc. (U.S.)
- American Express Company (U.S.)
- Generali Global Assistance (U.S.)
For more information about this report visit https://www.researchandmarkets.com/research/v2627n/north_america
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