GBA Travel Insurance Market by Age (Millennials, Generation X, and Baby Boomers), by Income Level (Low-income travelers, Middle-income travelers and High-Income Travelers), by Coverage (Medical Coverage, Trip Cancellation Coverage, Baggage and Personal Belongings Coverage, Accidental Death and Dismemberment (AD&D) Coverage), by Days of coverage (Short-Trip Insurance, Standard Trip Insurance, Extended Trip Insurance and Multi-Trip Insurance) by End User (Pilgrim Travelers, Education Travelers, Business Travelers and Family Travelers) by Distributional Channel (Insurance Companies, Banks, Airlines, Online Platforms, Insurance Aggregators & Comparison Websites, and Travel Agents & Tour Operators) – Opportunity Analysis and Industry Forecast, 2024–2030

GBA Travel Insurance Market

Industry:  Consumer Goods | Publish Date: Apr 2024 | No of Pages:  123 | No. Tables:  90 | No. Figures:  55

Market Overview:

The GBA Travel Insurance Market size was valued at USD 448.3 million in 2023, and is expected to reach USD 1892.1 million by 2030, with a CAGR of 21.4% from 2024 to 2030.  The travel insurance market refers to the sector of the insurance industry that focuses specifically on providing insurance products tailored to the needs of travelers. This market encompasses various insurance policies and services designed to offer coverage and protection against a range of risks and unforeseen events that may occur before, during, or after travel. These risks can include trip cancellations, medical emergencies, lost luggage, flight delays, and other travel-related disruptions. The travel insurance market serves individual travelers, families, corporate travelers, and group tours, offering a variety of policy options and coverage levels to suit different travel needs and preferences.

Rising Trend of Cross Border Employment in GBA Boost the Market Growth 

The Greater Bay Area is experiencing a surge in demand for travel insurance plans driven by the rising trend of cross-border employment and travel between Guangdong and its neighboring regions such as Mainland China and Hong Kong. This increased mobility has underscored the need for comprehensive insurance coverage to mitigate risks associated with travel, leading to the introduction of specialized insurance products tailored to the unique needs of travelers in the GBA. For example, Bank of China (Hong Kong) Limited (BOCHK) offers the "Greater Bay Area Travel Insurance Plan" and "Personal Accident Comprehensive Protection Plan," providing frequent travelers with essential protection for their journeys within the Greater Bay Area, whether for business or short-term studies.

Furthermore, as the GBA continues to emerge as a dynamic economic hub with increasing connectivity and integration, the demand for travel insurance is expected to rise further. Insurance providers are actively innovating and expanding their product offerings to meet the evolving needs of travelers in the region, including enhanced coverage options and seamless insurance solutions. This focus on innovation and collaboration across sectors underscores the commitment of insurance companies to provide travelers in the GBA with reliable and comprehensive insurance protection, ultimately driving the growth of the travel insurance market in the region.

Increasing Initiatives by Major Market Players Propels the Market Growth

The burgeoning efforts led by prominent international market leaders in the GBA travel insurance market are indicative of a growing trend towards comprehensive coverage and innovative solutions tailored to the needs of modern travelers. For instance, in November 2023, AXA Hong Kong and Macau partnered with UMP Healthcare Holdings Limited to offer premium cross-border medical services to customers in the Greater Bay Area, addressing the growing demand for healthcare services across borders. This strategic initiative aims to provide travelers with access to quality medical care during their trips, enhancing their overall travel experience and peace of mind. Such collaborations underscore the commitment of industry leaders to meet the evolving needs of travelers in the region, fostering greater convenience and assurance in travel insurance offerings.

Regulatory Challenges Impede the Growth of the GBA Travel Insurance Market

The travel insurance market encounters regulatory challenges stemming from the diverse and intricate regulations set by governmental authorities across various country. Insurance providers operating on a global scale encounter substantial administrative burdens and expenses in ensuring compliance with these regulations, which span licensing, consumer protection, sales practices, and policy terms. Fulfilling regulatory obligations necessitates tasks such as establishing local entities, acquiring licenses, appointing legal representatives, and adjusting products and marketing approaches to adhere to local legal frameworks.

Integration of Blockchain Technology Creates Ample Opportunity for the Market Growth

Blockchain technology presents a significant opportunity for enhancing transparency and security within the travel insurance industry. With decentralized digital ledgers, insurers can create unchangeable records of transactions, policies, and claims, lowering the chance of fraud and keeping data safe. Smart contracts, automate contract execution based on predefined conditions, streamline processes such as policy issuance and claims processing, reducing administrative overhead and enhancing efficiency. Blockchain's inherent transparency empowers insurance providers to securely access and authenticate transactional data, fostering trust between insurers and policyholders.

Competitive Landscape

Several market players operating in the GBA travel insurance market include Allianz Group, AXA SA, Zurich Insurance Group Limited, American International Group, Inc., Chubb Limited, Aviva PLC, Nationwide, Berkshire Hathaway Speciality Insurance, Travel Insured International, Generali Group and Others. 

GBA Travel Insurance Market Key Segments

By Age    

  • Millennials

  • Generation X 

  • Baby Boomers

By Income Level    

  • Low-income Travelers

  • Middle-income Travelers

  • High-income Travelers

By Coverage

  • Medical Coverage

  • Trip Cancellation Coverage

  • Baggage and Personal Belongings Coverage

  • Accidental Death and Dismemberment (AD&D) Coverage

By Days of Coverage

  • Short-Trip Insurance 

  • Standard Trip Insurance 

  • Extended Trip Insurance 

  • Multi-Trip Insurance

By End User

  • Pilgrim Travelers

  • Education Travelers

  • Business Travelers

  • Family Travelers

By Distributional Channel

  • Insurance Companies

  • Banks

  • Airlines

  • Online Platforms

  • Insurance Aggregators and Comparison Websites

  • Travel Agents and Tour Operators

REPORT SCOPE AND SEGMENTATION:

Parameters

Details

Market Size in 2023

USD 448.3 Million

Revenue Forecast in 2030

USD 1892.1 Million

Growth Rate

CAGR of 21.4% from 2024 to 2030

Analysis Period

2023–2030

Base Year Considered

2023

Forecast Period

2024–2030

Market Size Estimation

Million (USD)

Growth Factors

  • Rising Trend of Cross Border Employment in GBA Boost the Market Growth

  • Increasing Initiatives by Major Market Players Propels the Market Growth

Companies Profiled

10

Market Share

Available for 10 companies

Customization Scope

Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs.

Test

1      INTRODUCTION

           1.1      REPORT DESCRIPTION

           1.2      RESEARCH METHODOLOGY

                         1.2.1      SECONDARY RESEARCH

                         1.2.2      DATA ANALYSIS FRAMEWORK

                         1.2.3      MARKET SIZE ESTIMATION

                         1.2.4      FORECASTING

                         1.2.5      PRIMARY RESEARCH AND DATA VALIDATION

2      GBA TRAVEL INSURANCE MARKET – EXECUTIVE SUMMARY

           2.1.      MARKET SNAPSHOT, 2023 - 2030, Million USD

3      PORTER’S FIVE FORCE MODEL ANALYSIS

           3.1      BARGAINING POWER OF SUPPLIERS

           3.2      BARGAINING POWER OF BUYERS

           3.3      DEGREE OF COMPETITION

           3.4      THREAT OF SUBSTITUTE

           3.5      THREAT OF NEW ENTRANTS

4      MARKET SHARE ANALYSIS

           4.1      MARKET SHARE ANALYSIS OF TOP PROVIDERS, 2023

5      MARKET DYNAMICS

           5.1      GROWTH DRIVERS

                         5.1.1      DRIVER 1

                         5.1.2      DRIVER 2

                         5.1.3      DRIVER 3

                         5.1.4      DRIVER 4

           5.2      CHALLENGES

                         5.2.1      CHALLENGE 1

                         5.2.2      CHALLENGE 2

                         5.2.3      CHALLENGE 3

                         5.2.4      CHALLENGE 4

           5.3      OPPORTUNITIES

                         5.3.1      OPPORTUNITY 1

                         5.3.2      OPPORTUNITY 2

6       GBA TRAVEL INSURANCE MARKET BY AGE

           6.1      OVERVIEW

           6.2      MILLENNIALS MARKET

           6.3      GENERATION X MARKET

           6.4      BABY BOOMERS MARKET

7       GBA TRAVEL INSURANCE MARKET BY INCOME LEVEL

           7.1      OVERVIEW

           7.2      LOW-INCOME TRAVELERS MARKET

           7.3      MIDDLE-INCOME TRAVELERS MARKET

           7.4      HIGH-INCOME TRAVELERS MARKET

8       GBA TRAVEL INSURANCE MARKET BY COVERAGE

           8.1      OVERVIEW

           8.2      MEDICAL COVERAGE MARKET

           8.3      TRIP CANCELLATION COVERAGE MARKET

           8.4      BAGGAGE AND PERSONAL BELONGINGS COVERAGE MARKET

           8.5      ACCIDENTAL DEATH AND DISMEMBERMENT (AD AND D) COVERAGE MARKET

9       GBA TRAVEL INSURANCE MARKET BY DAYS OF COVERAGE

           9.1      OVERVIEW

           9.2      SHORT-TRIP INSURANCE MARKET

           9.3      STANDARD TRIP INSURANCE MARKET

           9.4      EXTENDED TRIP INSURANCE MARKET

           9.5      MULTI-TRIP INSURANCE MARKET

10       GBA TRAVEL INSURANCE MARKET BY END USER

           10.1      OVERVIEW

           10.2      PILGRIM TRAVELERS MARKET

           10.3      EDUCATION TRAVELERS MARKET

           10.4      BUSINESS TRAVELERS MARKET

           10.5      FAMILY TRAVELERS MARKET

11       GBA TRAVEL INSURANCE MARKET BY DISTRIBUTIONAL CHANNEL

           11.1      OVERVIEW

           11.2      INSURANCE COMPANIES MARKET

           11.3      BANKS MARKET

           11.4      AIRLINES MARKET

           11.5      ONLINE PLATFORMS MARKET

           11.6      INSURANCE AGGREGATORS AND COMPARISON WEBSITES MARKET

           11.7      TRAVEL AGENTS AND TOUR OPERATORS MARKET

12   COMPANY PROFILES

           12.1   ALLIANZ GROUP

                         12.1.1   COMPANY OVERVIEW

                         12.1.2   COMPANY SNAPSHOT

                         12.1.3   OPERATING BUSINESS SEGMENTS

                         12.1.4   PRODUCT PORTFOLIO

                         12.1.5   BUSINESS PERFORMANCE

                         12.1.6   BUSINESS SEGMENTS

                         12.1.7   GEOGRAPHIC SEGMENTS

                         12.1.8   KEY STRATEGIC MOVES AND DEVELOPMENT

                         12.1.9   PRIMARY MARKET COMPETITORS

           12.2   HSBC HOLDINGS PLC

                         12.2.1   COMPANY OVERVIEW

                         12.2.2   COMPANY SNAPSHOT

                         12.2.3   OPERATING BUSINESS SEGMENTS

                         12.2.4   PRODUCT PORTFOLIO

                         12.2.5   BUSINESS PERFORMANCE

                         12.2.6   BUSINESS SEGMENTS

                         12.2.7   GEOGRAPHIC SEGMENTS

                         12.2.8   KEY STRATEGIC MOVES AND DEVELOPMENT

                         12.2.9   PRIMARY MARKET COMPETITORS

           12.3   CHUBB INSURANCE HONG KONG LIMITE

                         12.3.1   COMPANY OVERVIEW

                         12.3.2   COMPANY SNAPSHOT

                         12.3.3   OPERATING BUSINESS SEGMENTS

                         12.3.4   PRODUCT PORTFOLIO

                         12.3.5   BUSINESS PERFORMANCE

                         12.3.6   BUSINESS SEGMENTS

                         12.3.7   GEOGRAPHIC SEGMENTS

                         12.3.8   KEY STRATEGIC MOVES AND DEVELOPMENT

                         12.3.9   PRIMARY MARKET COMPETITORS

           12.4   AIG INSURANCE HONG KONG LIMITED

                         12.4.1   COMPANY OVERVIEW

                         12.4.2   COMPANY SNAPSHOT

                         12.4.3   OPERATING BUSINESS SEGMENTS

                         12.4.4   PRODUCT PORTFOLIO

                         12.4.5   BUSINESS PERFORMANCE

                         12.4.6   BUSINESS SEGMENTS

                         12.4.7   GEOGRAPHIC SEGMENTS

                         12.4.8   KEY STRATEGIC MOVES AND DEVELOPMENT

                         12.4.9   PRIMARY MARKET COMPETITORS

           12.5   AIA GROUP LIMITED

                         12.5.1   COMPANY OVERVIEW

                         12.5.2   COMPANY SNAPSHOT

                         12.5.3   OPERATING BUSINESS SEGMENTS

                         12.5.4   PRODUCT PORTFOLIO

                         12.5.5   BUSINESS PERFORMANCE

                         12.5.6   BUSINESS SEGMENTS

                         12.5.7   GEOGRAPHIC SEGMENTS

                         12.5.8   KEY STRATEGIC MOVES AND DEVELOPMENT

                         12.5.9   PRIMARY MARKET COMPETITORS

           12.6   ZURICH INSURANCE GROUP

                         12.6.1   COMPANY OVERVIEW

                         12.6.2   COMPANY SNAPSHOT

                         12.6.3   OPERATING BUSINESS SEGMENTS

                         12.6.4   PRODUCT PORTFOLIO

                         12.6.5   BUSINESS PERFORMANCE

                         12.6.6   BUSINESS SEGMENTS

                         12.6.7   GEOGRAPHIC SEGMENTS

                         12.6.8   KEY STRATEGIC MOVES AND DEVELOPMENT

                         12.6.9   PRIMARY MARKET COMPETITORS

           12.7   MANULIFE

                         12.7.1   COMPANY OVERVIEW

                         12.7.2   COMPANY SNAPSHOT

                         12.7.3   OPERATING BUSINESS SEGMENTS

                         12.7.4   PRODUCT PORTFOLIO

                         12.7.5   BUSINESS PERFORMANCE

                         12.7.6   BUSINESS SEGMENTS

                         12.7.7   GEOGRAPHIC SEGMENTS

                         12.7.8   KEY STRATEGIC MOVES AND DEVELOPMENT

                         12.7.9   PRIMARY MARKET COMPETITORS

           12.8   PRUDENTIAL (HK) LIFE

                         12.8.1   COMPANY OVERVIEW

                         12.8.2   COMPANY SNAPSHOT

                         12.8.3   OPERATING BUSINESS SEGMENTS

                         12.8.4   PRODUCT PORTFOLIO

                         12.8.5   BUSINESS PERFORMANCE

                         12.8.6   BUSINESS SEGMENTS

                         12.8.7   GEOGRAPHIC SEGMENTS

                         12.8.8   KEY STRATEGIC MOVES AND DEVELOPMENT

                         12.8.9   PRIMARY MARKET COMPETITORS

           12.9   BOC LIFE

                         12.9.1   COMPANY OVERVIEW

                         12.9.2   COMPANY SNAPSHOT

                         12.9.3   OPERATING BUSINESS SEGMENTS

                         12.9.4   PRODUCT PORTFOLIO

                         12.9.5   BUSINESS PERFORMANCE

                         12.9.6   BUSINESS SEGMENTS

                         12.9.7   GEOGRAPHIC SEGMENTS

                         12.9.8   KEY STRATEGIC MOVES AND DEVELOPMENT

                         12.9.9   PRIMARY MARKET COMPETITORS

           12.10   AXA CHINA

                         12.10.1   COMPANY OVERVIEW

                         12.10.2   COMPANY SNAPSHOT

                         12.10.3   OPERATING BUSINESS SEGMENTS

                         12.10.4   PRODUCT PORTFOLIO

                         12.10.5   BUSINESS PERFORMANCE

                         12.10.6   BUSINESS SEGMENTS

                         12.10.7   GEOGRAPHIC SEGMENTS

                         12.10.8   KEY STRATEGIC MOVES AND DEVELOPMENT

                         12.10.9   PRIMARY MARKET COMPETITORS

LIST OF TABLES

TABLE 1. GBA TRAVEL INSURANCE MARKET VALUE, BY AGE, 2023-2030, (MILLION USD)

TABLE 2. MILLENNIALS, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 3. GENERATION X, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 4. BABY BOOMERS, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 5. GBA TRAVEL INSURANCE MARKET VALUE, BY INCOME LEVEL, 2023-2030, (MILLION USD)

TABLE 6. LOW-INCOME TRAVELERS, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 7. MIDDLE-INCOME TRAVELERS, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 8. HIGH-INCOME TRAVELERS, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 9. GBA TRAVEL INSURANCE MARKET VALUE, BY COVERAGE, 2023-2030, (MILLION USD)

TABLE 10. MEDICAL COVERAGE, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 11. TRIP CANCELLATION COVERAGE, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 12. BAGGAGE AND PERSONAL BELONGINGS COVERAGE, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 13. ACCIDENTAL DEATH AND DISMEMBERMENT (AD AND D) COVERAGE, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 14. GBA TRAVEL INSURANCE MARKET VALUE, BY DAYS OF COVERAGE, 2023-2030, (MILLION USD)

TABLE 15. SHORT-TRIP INSURANCE, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 16. STANDARD TRIP INSURANCE, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 17. EXTENDED TRIP INSURANCE, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 18. MULTI-TRIP INSURANCE, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 19. GBA TRAVEL INSURANCE MARKET VALUE, BY END USER, 2023-2030, (MILLION USD)

TABLE 20. PILGRIM TRAVELERS, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 21. EDUCATION TRAVELERS, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 22. BUSINESS TRAVELERS, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 23. FAMILY TRAVELERS, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 24. GBA TRAVEL INSURANCE MARKET VALUE, BY DISTRIBUTIONAL CHANNEL, 2023-2030, (MILLION USD)

TABLE 25. INSURANCE COMPANIES, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 26. BANKS, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 27. AIRLINES, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 28. ONLINE PLATFORMS, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 29. INSURANCE AGGREGATORS AND COMPARISON WEBSITES, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 30. TRAVEL AGENTS AND TOUR OPERATORS, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 31. ALLIANZ GROUP: COMPANY SNAPSHOT

TABLE 32. ALLIANZ GROUP: OPERATING BUSINESS SEGMENTS

TABLE 33. ALLIANZ GROUP: PRODUCT PORTFOLIO

TABLE 34. ALLIANZ GROUP: SALES BY BUSINESS SEGMENTS (2021-2023)

TABLE 35. ALLIANZ GROUP: SALES BY GEOGRAPHIC SEGMENTS (2021-2023)

TABLE 36. ALLIANZ GROUP: KEY STRATERGY

TABLE 37. HSBC HOLDINGS PLC: COMPANY SNAPSHOT

TABLE 38. HSBC HOLDINGS PLC: OPERATING BUSINESS SEGMENTS

TABLE 39. HSBC HOLDINGS PLC: PRODUCT PORTFOLIO

TABLE 40. HSBC HOLDINGS PLC: SALES BY BUSINESS SEGMENTS (2021-2023)

TABLE 41. HSBC HOLDINGS PLC: SALES BY GEOGRAPHIC SEGMENTS (2021-2023)

TABLE 42. HSBC HOLDINGS PLC: KEY STRATERGY

TABLE 43. CHUBB INSURANCE HONG KONG LIMITE: COMPANY SNAPSHOT

TABLE 44. CHUBB INSURANCE HONG KONG LIMITE: OPERATING BUSINESS SEGMENTS

TABLE 45. CHUBB INSURANCE HONG KONG LIMITE: PRODUCT PORTFOLIO

TABLE 46. CHUBB INSURANCE HONG KONG LIMITE: SALES BY BUSINESS SEGMENTS (2021-2023)

TABLE 47. CHUBB INSURANCE HONG KONG LIMITE: SALES BY GEOGRAPHIC SEGMENTS (2021-2023)

TABLE 48. CHUBB INSURANCE HONG KONG LIMITE: KEY STRATERGY

TABLE 49. AIG INSURANCE HONG KONG LIMITED: COMPANY SNAPSHOT

TABLE 50. AIG INSURANCE HONG KONG LIMITED: OPERATING BUSINESS SEGMENTS

TABLE 51. AIG INSURANCE HONG KONG LIMITED: PRODUCT PORTFOLIO

TABLE 52. AIG INSURANCE HONG KONG LIMITED: SALES BY BUSINESS SEGMENTS (2021-2023)

TABLE 53. AIG INSURANCE HONG KONG LIMITED: SALES BY GEOGRAPHIC SEGMENTS (2021-2023)

TABLE 54. AIG INSURANCE HONG KONG LIMITED: KEY STRATERGY

TABLE 55. AIA GROUP LIMITED: COMPANY SNAPSHOT

TABLE 56. AIA GROUP LIMITED: OPERATING BUSINESS SEGMENTS

TABLE 57. AIA GROUP LIMITED: PRODUCT PORTFOLIO

TABLE 58. AIA GROUP LIMITED: SALES BY BUSINESS SEGMENTS (2021-2023)

TABLE 59. AIA GROUP LIMITED: SALES BY GEOGRAPHIC SEGMENTS (2021-2023)

TABLE 60. AIA GROUP LIMITED: KEY STRATERGY

TABLE 61. ZURICH INSURANCE GROUP: COMPANY SNAPSHOT

TABLE 62. ZURICH INSURANCE GROUP: OPERATING BUSINESS SEGMENTS

TABLE 63. ZURICH INSURANCE GROUP: PRODUCT PORTFOLIO

TABLE 64. ZURICH INSURANCE GROUP: SALES BY BUSINESS SEGMENTS (2021-2023)

TABLE 65. ZURICH INSURANCE GROUP: SALES BY GEOGRAPHIC SEGMENTS (2021-2023)

TABLE 66. ZURICH INSURANCE GROUP: KEY STRATERGY

TABLE 67. MANULIFE: COMPANY SNAPSHOT

TABLE 68. MANULIFE: OPERATING BUSINESS SEGMENTS

TABLE 69. MANULIFE: PRODUCT PORTFOLIO

TABLE 70. MANULIFE: SALES BY BUSINESS SEGMENTS (2021-2023)

TABLE 71. MANULIFE: SALES BY GEOGRAPHIC SEGMENTS (2021-2023)

TABLE 72. MANULIFE: KEY STRATERGY

TABLE 73. PRUDENTIAL (HK) LIFE: COMPANY SNAPSHOT

TABLE 74. PRUDENTIAL (HK) LIFE: OPERATING BUSINESS SEGMENTS

TABLE 75. PRUDENTIAL (HK) LIFE: PRODUCT PORTFOLIO

TABLE 76. PRUDENTIAL (HK) LIFE: SALES BY BUSINESS SEGMENTS (2021-2023)

TABLE 77. PRUDENTIAL (HK) LIFE: SALES BY GEOGRAPHIC SEGMENTS (2021-2023)

TABLE 78. PRUDENTIAL (HK) LIFE: KEY STRATERGY

TABLE 79. BOC LIFE: COMPANY SNAPSHOT

TABLE 80. BOC LIFE: OPERATING BUSINESS SEGMENTS

TABLE 81. BOC LIFE: PRODUCT PORTFOLIO

TABLE 82. BOC LIFE: SALES BY BUSINESS SEGMENTS (2021-2023)

TABLE 83. BOC LIFE: SALES BY GEOGRAPHIC SEGMENTS (2021-2023)

TABLE 84. BOC LIFE: KEY STRATERGY

TABLE 85. AXA CHINA: COMPANY SNAPSHOT

TABLE 86. AXA CHINA: OPERATING BUSINESS SEGMENTS

TABLE 87. AXA CHINA: PRODUCT PORTFOLIO

TABLE 88. AXA CHINA: SALES BY BUSINESS SEGMENTS (2021-2023)

TABLE 89. AXA CHINA: SALES BY GEOGRAPHIC SEGMENTS (2021-2023)

TABLE 90. AXA CHINA: KEY STRATERGY

LIST OF FIGURES

FIGURE 1. BARGAINING POWER OF SUPPLIERS

FIGURE 2. BARGAINING POWER OF BUYERS

FIGURE 3. DEGREE OF COMPETITION

FIGURE 4. THREAT OF SUBSTITUTE

FIGURE 5. THREAT OF NEW ENTRANTS

FIGURE 6. GBA TRAVEL INSURANCE MARKET VALUE, BY AGE, 2023-2030, (MILLION USD)

FIGURE 7. MILLENNIALS, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 8. GENERATION X, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 9. BABY BOOMERS, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 10. GBA TRAVEL INSURANCE MARKET VALUE, BY INCOME LEVEL, 2023-2030, (MILLION USD)

FIGURE 11. LOW-INCOME TRAVELERS, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 12. MIDDLE-INCOME TRAVELERS, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 13. HIGH-INCOME TRAVELERS, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 14. GBA TRAVEL INSURANCE MARKET VALUE, BY COVERAGE, 2023-2030, (MILLION USD)

FIGURE 15. MEDICAL COVERAGE, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 16. TRIP CANCELLATION COVERAGE, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 17. BAGGAGE AND PERSONAL BELONGINGS COVERAGE, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 18. ACCIDENTAL DEATH AND DISMEMBERMENT (AD AND D) COVERAGE, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 19. GBA TRAVEL INSURANCE MARKET VALUE, BY DAYS OF COVERAGE, 2023-2030, (MILLION USD)

FIGURE 20. SHORT-TRIP INSURANCE, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 21. STANDARD TRIP INSURANCE, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 22. EXTENDED TRIP INSURANCE, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 23. MULTI-TRIP INSURANCE, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 24. GBA TRAVEL INSURANCE MARKET VALUE, BY END USER, 2023-2030, (MILLION USD)

FIGURE 25. PILGRIM TRAVELERS, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 26. EDUCATION TRAVELERS, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 27. BUSINESS TRAVELERS, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 28. FAMILY TRAVELERS, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 29. GBA TRAVEL INSURANCE MARKET VALUE, BY DISTRIBUTIONAL CHANNEL, 2023-2030, (MILLION USD)

FIGURE 30. INSURANCE COMPANIES, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 31. BANKS, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 32. AIRLINES, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 33. ONLINE PLATFORMS, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 34. INSURANCE AGGREGATORS AND COMPARISON WEBSITES, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 35. TRAVEL AGENTS AND TOUR OPERATORS, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 36. ALLIANZ GROUP: NET SALES, (2021-2023)

FIGURE 37. ALLIANZ GROUP: PRIMARY MARKET COMPETITORS

FIGURE 38. HSBC HOLDINGS PLC: NET SALES, (2021-2023)

FIGURE 39. HSBC HOLDINGS PLC: PRIMARY MARKET COMPETITORS

FIGURE 40. CHUBB INSURANCE HONG KONG LIMITE: NET SALES, (2021-2023)

FIGURE 41. CHUBB INSURANCE HONG KONG LIMITE: PRIMARY MARKET COMPETITORS

FIGURE 42. AIG INSURANCE HONG KONG LIMITED: NET SALES, (2021-2023)

FIGURE 43. AIG INSURANCE HONG KONG LIMITED: PRIMARY MARKET COMPETITORS

FIGURE 44. AIA GROUP LIMITED: NET SALES, (2021-2023)

FIGURE 45. AIA GROUP LIMITED: PRIMARY MARKET COMPETITORS

FIGURE 46. ZURICH INSURANCE GROUP: NET SALES, (2021-2023)

FIGURE 47. ZURICH INSURANCE GROUP: PRIMARY MARKET COMPETITORS

FIGURE 48. MANULIFE: NET SALES, (2021-2023)

FIGURE 49. MANULIFE: PRIMARY MARKET COMPETITORS

FIGURE 50. PRUDENTIAL (HK) LIFE: NET SALES, (2021-2023)

FIGURE 51. PRUDENTIAL (HK) LIFE: PRIMARY MARKET COMPETITORS

FIGURE 52. BOC LIFE: NET SALES, (2021-2023)

FIGURE 53. BOC LIFE: PRIMARY MARKET COMPETITORS

FIGURE 54. AXA CHINA: NET SALES, (2021-2023)

FIGURE 55. AXA CHINA: PRIMARY MARKET COMPETITORS

KEY PLAYERS

  • Allianz Group

  • HSBC Holdings PLC

  • Chubb Insurance Hong Kong Limite 

  • AIG Insurance Hong Kong Limited

  • AIA Group Limited

  • Zurich Insurance Group

  • Manulife

  • Prudential (HK) Life 

  • BOC LIFE

  • AXA China


Frequently Asked Questions
What are the leading players operating in the GBA travel insurance market?

The leading market players operating in the GBA Travel Insurance market are Allianz group, HSBC Holdings plc, Chubb Insurance GBA Limited, AIG Insurance GBA Limited, and Others.

What is the market size of the GBA travel insurance industry?

According to NMSC, The GBA travel insurance market is valued at USD 448.3 million in 2023.

What is the projected growth rate of the GBA travel insurance market?

As per NMSC, The projected growth rate of GBA travel insurance market is USD 1892.1million by 2030, with a CAGR of 21.4% from 2024 to 2030.

What age group tends to have the largest presence in the GBA travel insurance market?

By age group, millennials are the dominant segment in the GBA travel insurance market.

What are the key challenges faced by the GBA travel insurance market?

Regulatory challenges such as diverse and complex regulations imposed by governmental authorities across county restrain the growth of the market.