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NJ New Jersey, USA — (SBWIRE) — 01/25/2023 — The Global Tourism Insurance Market Report assesses developments relevant to the insurance industry and identifies key risks and vulnerabilities for the Tourism Insurance Industry to make stakeholders aware with current and future scenarios. To derive complete assessment and market estimates a wide list of Insurers and aggregators, and the agency was considered in the coverage; Some of the top players profiled are Generali S.p.A. (Italy), Travelex (United Kingdom), InsureMyTrip (United States), Allianz Partners (United States), HDFC (India), Aditya Birla (India), Bajaj Allianz (India), Bharti AXA (India), World Nomads (United States), HTH Travel Insurance (United States), Nationwide Insurance (United States).
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Scope of the Report of Tourism Insurance
Tourism Insurance aims to cover unforeseen events or losses while on the tour. It could be for domestic purposes or for international travels. Various types of insurances based on the destination, number of trips, or even type of trips are taken into account while designing insurance policies. Often different policies cover different things but generally, tourism policies include, medical expenses, curtailment, and trip cancellation expenses. In medical expenses, sudden health situations like accidents are covered. In curtailment, if a client needs to return immediately then those expenses and in trip cancellation covers for damages caused by the cancellation of the trip by an agent or by some event. Apart from this, personal luggage and money are also covered in some cases. With the increase in travel all over the globe; the demand for tourism insurance is also increasing.
The titled segments and sub-section of the market are illuminated below:
by Application (Domestic Tourism, Oversea Tourism), Tier (Bronze, Silver, Gold), Sales Channel (Direct, Indirect), Coverage (Medical Expenses, Trip Cancellation, Loss of Passport, Loss of Luggage, Curtailment, Trip Delay, Others), Age (Children Between Age of 6 Months to 18 Years, Age 18 Years to 60 Years, Above Age 60 Years)
Rising Spending on Tourism Infrastructure by Many Nations
Increasing Tourism from Economies with Increasing Middle Class Like China, India
Increasing Tourism Among Middle-Class All Over the Globe
Growing Demand of Tourism Insurance for Tourism in Unstable Nation/Destination
Rising Demand for Online Booking of Tourism Insurance
Surging Demand of Tourism Insurance from Travelling Families
Key Market Developments:
In March 2021, Tesco Bank which also operates in the insurance sector added travel insurance back to its portfolio after quitting the market in 2018. Before this Tesco was offering pet, home, and motor insurances. According to Tesco's insurance commercial director, the immediate outlook for travel remains uncertain however the need for travel is greater than ever whether in a domestic area or abroad. With this offering, Tesco aims to broaden its consumer base.
Region Included are: North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa
Country Level Break-Up: United States, Canada, Mexico, Brazil, Argentina, Colombia, Chile, South Africa, Nigeria, Tunisia, Morocco, Germany, United Kingdom (UK), the Netherlands, Spain, Italy, Belgium, Austria, Turkey, Russia, France, Poland, Israel, United Arab Emirates, Qatar, Saudi Arabia, China, Japan, Taiwan, South Korea, Singapore, India, Australia and New Zealand etc.
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Strategic Points Covered in Table of Content of Global Tourism Insurance Market:
Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the Tourism Insurance market
Chapter 2: Exclusive Summary – the basic information of the Tourism Insurance Market.
Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges & Opportunities of the Tourism Insurance
Chapter 4: Presenting the Tourism Insurance Market Factor Analysis, Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.
Chapter 5: Displaying the by Type, End User and Region/Country 2015-2020
Chapter 6: Evaluating the leading manufacturers of the Tourism Insurance market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile
Chapter 7: To evaluate the market by segments, by countries and by Manufacturers/Company with revenue share and sales by key countries in these various regions (2021-2027)
Chapter 8 & 9: Displaying the Appendix, Methodology and Data Source
finally, Tourism Insurance Market is a valuable source of guidance for individuals and companies.
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