Oct 9, 2020 7:15 AM ET
iCrowd Newswire – Oct 9, 2020
Asia-Pacific 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 to 2022 , Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider Asia-Pacific Travel Insurance market, and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Asia-Pacific Travel Insurance market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get complete Report (Including Full TOC, 100+ Data Tables & Figures, and Chart). – In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis & Situation by Region
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Travel insurance is a typology aimed at safeguarding tourists during their travel. It is always advisable for a traveler to opt for a travel insurance policy, as unforeseen weather changes, ill health, or other catastrophes can interrupt the individual’s travel plan. To mitigate the risk associated with such incidences, a number of travelers are opting for travel insurance.
The travel insurance market is growing at a high rate in countries such as China, Japan, India, Indonesia, Korea, Australia, Hong Kong, Taiwan, New Zealand, and Singapore, owing to their high GDP growth and rise in per capita income. Asia-Pacific is witnessing the highest growth rate globally, owing to presence of emerging economies, growth in population, and expansion of the middle-class segment. Increase in outbound tourism in the region and international business travels drive the growth of this market.
Further, increase in number of senior citizens across Australia, Japan, China, and India fuel the growth of the travel insurance industry. The strong economic growth in China and India supplements the rising demand for various business travel-related insurance products. Moreover, government initiatives in Malaysia and Thailand to formulate regulations that mandate the travel insurance for all international travelers present a major opportunity for the market players. However, lack of awareness regarding travel insurance poses a major challenge to market growth.
The market is segmented on the basis of distribution channel, insurance cover, end user, and country. 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 divided into single trip, annual multi-trip, and long stay. Based on end user, it is categorized into senior citizens, education travelers, backpackers, business travelers, family travelers, and fully independent travelers. The countries analyzed in the report include China, Japan, India, Australia, New Zealand, Thailand, and rest of Asia-Pacific.
The key players profiled in the report include American International Group Inc., Allianz Group, ACE, Munich Re, Tokio Marine Holdings, China Pacific Insurance Company, Bajaj Finserv, Ping An Insurance Company of China, Dongbu Group, and MS&AD Insurance Group.
This study provides an in-depth analysis of the Asia-Pacific travel insurance market, in terms of value, to elucidate the imminent investment pockets.
A detailed impact analysis of the current trends, country-wise travel insurance market, and future estimations is provided to target the profitable sectors.
Quantitative analysis is provided from 2014 to 2022, with 2015 as the base year.
The drivers, restraints, and opportunities are analyzed to identify the prevailing market opportunities.
Porter’s Five Forces analysis highlights the potency of suppliers and buyers in the competitive market to facilitate efficient business planning.
Key Segments Studied in the Asia-Pacific Travel Insurance Market
|Professional Key players:
American International Group Inc.
Tokio Marine Holdings
China Pacific Insurance Company
Ping An Insurance Company of China
MS&AD Insurance Group
|Asia-Pacific 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)
By End User (Senior Citizens, Educational Travelers, Backpackers, Business Travelers, Family Travelers, and Fully Independent Travelers): Opportunity Analysis and Industry Forecast
A combination of factors, including COVID-19 containment situation, end-use market recovery & Recovery Timeline of 2020/ 2021
|covid-19 scenario||Market Behavior/ Level of Risk and Opportunity||End Industry Behavior/ Opportunity Assessment||Expected Industry Recovery Timeline||Business Impact Horizon|
|Opening of Economy by Q3 2020||xx||xx||xx||xx|
|Recovery – Opening of Economy extended till Q4 2020 / Q1 2021||xx||xx||xx||xx|
A systematic step framework for How to Tackle The Situation… “MITIGATE” | “SUSTAIN” | “GROW”: Business Strategy Recovery, Scenario and Planning
Economic Consequences of the COVID-19 Outbreak on Market: The Study Explore COVID 19 Outbreak Impact Analysis & Conclusion by Economic Impact & Risk Factors
- What should be entry strategies, countermeasures to economic impact, and marketing channels?
- What are market dynamics?
- What are challenges and opportunities?
- What is economic impact on market?
- What is current market status? What’s market competition in this industry, both company, and country wise? What’s market analysis by taking applications and types in consideration?
Geographical Breakdown: The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery path of Covid 19 for all regions, key developed countries and major emerging markets.
In-Depth Qualitative COVID 19 Outbreak Impact Analysis Include Identification And Investigation Of The Following Aspects:
The research includes the key strategic activities such as R&D plans, M&A completed, agreements, new launches, collaborations, partnerships & (JV) Joint ventures, and regional growth of the key competitors operating in the market at regional scale.
Key Market Features in COVID-19 Outbreak:
The report highlights market features, including revenue, weighted average regional price, capacity utilization rate, production rate, gross margins, consumption, import & export, supply & demand, cost bench-marking, market share, CAGR, and gross margin.
Market Highlights & Approach
The report provides the rigorously studied and evaluated data of the top industry players and their scope in the market by means of several analytical tools. The analytical tools such as Porters five forces analysis, feasibility study, SWOT analysis, and ROI analysis have been practiced reviewing the growth of the key players operating in the market.
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Key questions answered: Study Explore COVID 19 Outbreak Impact Analysis
– Detailed Overview of market helps deliver clients and businesses making strategies.
– Influential factors that are thriving demand and constraints in the market.
– What is the market concentration? Is it fragmented or highly concentrated?
– What trends, challenges and barriers will impact the development and sizing of market?
– SWOT Analysis of each key players mentioned along with its company profile with the help of Porter’s five forces tool mechanism to compliment the same.
– What growth momentum or acceleration market carries during the forecast period?
– Which region is going to tap highest market share in future?
– What Application/end-user category or Product Type may see incremental growth prospects?
– What would be the market share of key countries like United States, France, UK, Germany, Italy, Canada, Australia, Japan, China or Brazil etc.?
– What focused approach and constraints are holding the market tight?
– What impact of COVID-19 lockdown on consumers’ awareness, behavior, and attitudes?
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Key Points Covered in Asia-Pacific Travel Insurance Market Report:
Table of Contents
List of Figures
List of Tables
Segmentation By Geography
Asia-Pacific Travel Insurance Market Characteristics
Supply Chain And Key Participants
Asia-Pacific Travel Insurance Market Size And Growth
Historic Market Growth, Value ($ Billion)
Drivers Of The Market
Restraints On The Market
Forecast Market Growth, Value ($ Billion)
Asia-Pacific Travel Insurance Global Market PESTEL Analysis by Political, Economic, Social, Technological, Environmental, Legal
Asia-Pacific Travel Insurance Customer Information
Brand Experience And Customer Support Influence Purchasing Decision
Asia-Pacific Travel Insurance Market, Regional And Country Analysis
Global Asia-Pacific Travel Insurance Market, , By Region, Value ($ Billion)
Global Asia-Pacific Travel Insurance Manufacturing Market, Historic And Forecast, Segmentation
Asia-Pacific Travel Insurance Market Overview
Global Asia-Pacific Travel Insurance Market Top Opportunities By Segment
Asia-Pacific Travel Insurance Market Top Opportunities By Country
Asia-Pacific Travel Insurance Market Strategies
Strategies based on market trends
Strategies Adopted By Leading Competitors
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