Analyzing the current situation of pandemic, Allied Market Research has published a report titled, “North America 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”.
Digital transformation projects across verticals witnessed huge uptake and are also expected to contribute further in the near future. North America travel insurance market gains popularity in various industries including IT & telecom, BFSI, and healthcare, owing to its supreme benefits such as high-speed random access of data and low power consumption.
“North America Travel Insurance Market is estimated to reach $8,165 million by 2022, growing at a CAGR of 8.8% from 2016 to 2022”
These insights help to devise strategies and create new opportunities to achieve exceptional results. The research offers an extensive analysis of key players active in the North America travel insurance industry. Detailed analysis on operating business segments, product portfolio, business performance, and key strategic developments is offered in the research.
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This makes it important to understand the practical implications of the North America travel insurance market. To gain a competitive advantage, the players must have something unique. By tapping into the untapped market segment, they can establish a relevant point of differentiation, and this report offers an extension analysis of untapped segments to benefit the market players and new entrants to gain the market share.
The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
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The report provides the SWOT analysis of the key market players including,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.) and CSA Travel Protection (U.S.), which gives the business overview, financial analysis, and portfolio analysis of products and services. The latest news related to industry developments in terms of market expansions, acquisitions, growth -strategies, joint ventures, collaborations, product launches, market expansions etc. are included in the report for the better understanding of the stakeholders in framing strategic decisions to gain long term profitability and market share.
COVID-19 Scenario Analysis
- The COVID-19 pandemic is impacting society and the overall economy globally. The effect of this pandemic is increasing day by day as well as affecting the supply chain.
- The COVID-19 crisis is making uncertainty in the stock North America travel insurance market trends, immense slowing of the supply chain, falling business confidence, and increasing panic among the customer segments.
- The overall impact of the pandemic is impacting the production process of several industries, including semiconductor, electronics, and many more.
- Trade barriers are further constraining the demand and supply outlook. As governments of different areas have already announced total lockdown and temporarily shutdown of industries, the overall production process is adversely affected.
- However, the introduction of advanced software solutions will be an instrumental factor in influencing the growth of the North America travel insurance market forecast post pandemic.
Key Market Segments
By Distribution Channel
• Insurance Intermediaries
• Insurance Company
• Insurance Broker
• Insurance Aggregators
By Insurance Cover
• Single Trip
• Annual Multi-trip
• Long Stay
By End User
• Senior Citizens
• Education Travelers
• Business Travelers
• Family Travelers
• Fully Independent Traveler
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- The report provides a qualitative and quantitative analysis of the current North America travel insurance market trends, forecasts, and market size from 2020 to 2027 to determine the prevailing opportunities.
- Porter’s Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make strategic business decisions and determine the level of competition in the industry.
- Top impacting factors & major investment pockets are highlighted in the research.
- The major countries in each region are analyzed and their revenue contribution is mentioned.
- The market report also provides an understanding of the current position of the market players active in the North America travel insurance market.
Highlights of the Report
- Competitive landscape of the North America travel insurance market.
- Revenue generated by each segment of the North America travel insurance market by 2027.
- Factors expected to drive and create new opportunities in the North America travel insurance market.
- Strategies to gain sustainable growth of the market.
- Region that would create lucrative business opportunities during the forecast period.
- Top impacting factors of the North America travel insurance market.
Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, Europe, Asia-Pacific, South America.
Chapters of the Report are:
CHAPTER 1 INTRODUCTION
1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENTS
1.4. RESEARCH METHODOLOGY
1.4.1. SECONDARY RESEARCH
1.4.2. PRIMARY RESEARCH
1.4.3. ANALYST TOOLS AND MODELS
CHAPTER 2 EXECUTIVE SUMMARY
2.1. CXO PERSPECTIVE
CHAPTER 3 MARKET OVERVIEW
3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS
3.2.1. TOP IMPACTING FACTORS
3.2.2. TOP INVESTMENT POCKETS
3.2.3. TOP WINNING STRATEGIES
3.3. PORTERS FIVE FORCES ANALYSIS
3.4. MARKET POSITIONING, 2016
3.5. MARKET DYNAMICS
22.214.171.124. RISE IN TOURISM
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