Travel Insurance Market Expected to reach US$ 40,067.4 Mn by 2025, expanding at a CAGR of 9.9% from 2017 to 2025.
Nowadays travel has become a key part of academics, businesses, and personal life, exposing people to travel related contingencies. In order to mitigate the risks associated, it’s always a better option to buy a travel insurance plan. Travel insurance offers insurance protection while you travel. It is important to understand whether the policy covers domestic travel or overseas travel or both. Travel insurances helps in protecting families and individuals against travel related accidents, unexpected medical expenditure during travel, losses such as baggage loss, loss of passport, etc. and also interruption or delays in flights or delayed arrival of baggage etc. The global market is at a growing stage and is an extremely attractive market thereby supporting the increase in the tourism growth levels and the business travels during the forecast period. In terms of revenue, Global Travel Insurance Market was valued at US$ 17,530.5 Mn in 2016 and is expected to reach US$ 40,067...