Mexico 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

Mexico Travel Insurance Market

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

Market Overview

The Mexico Travel Insurance Market size was valued at USD 586.5 million in 2023 and is predicted to reach USD 1359.9 million by 2030, with a CAGR of 11.6 % from 2024 to 2030. Travel insurance is a specialized form of insurance designed to provide protection and coverage to travelers against a wide range of potential risks and unforeseen circumstances that may arise before or during their journeys. It plays a crucial role in mitigating the financial impact of various travel-related emergencies, disruptions, and inconveniences, thereby offering travelers a sense of security and peace of mind throughout their trips.

One of its primary benefits is its ability to provide financial reimbursement and assistance in the event of trip cancellations or interruptions. This coverage includes unforeseen situations such as illness, injury, or emergencies, enabling travelers to recover non-refundable expenses associated with flights, accommodations, and other pre-paid arrangements.

Increasing Marketing and Awareness of Travel Insurance Drives the Mexico Industry

Enhancing marketing efforts and promoting awareness of travel insurance are vital drivers for the advancement of the travel insurance sector in the country. Through targeted marketing strategies, insurance providers can effectively convey the importance of travel insurance in mitigating risks and offering peace of mind to travelers. By showcasing real-life scenarios, testimonials, and case studies, insurers can educate consumers about the potential financial impacts of unforeseen events such as trip cancellations, medical emergencies, or lost luggage.

Additionally, by utilizing digital marketing channels, social media platforms, and collaborations with travel agencies or airlines, insurers can broaden their reach and enhance brand recognition. With the increasing awareness of travel insurance, more travelers appreciate its value and are inclined to purchase coverage, thereby expanding the customer base and driving industry growth.

Furthermore, regulatory requirements in specific destinations and the integration of travel insurance into travel packages or booking platforms further contribute to the adoption of insurance products. Overall, by effectively marketing and raising awareness of travel insurance, insurers can stimulate demand, improve customer engagement, and propel the growth of the travel insurance industry.

Evolving Travel Landscape Boost the Mexico Market Growth

The travel industry in the country undergoes constant evolution as consumer preferences, travel habits, and global trends shift over time. This transformation is evident in the rise of new destinations and inventive travel styles tailored to diverse interests and preferences. As travelers increasingly seek unique experiences and venture off the beaten path, they encounter a spectrum of new risks and challenges, from medical emergencies in remote locales to cancellations stemming from unforeseen circumstances. In response to these changing needs, travel insurance providers are adapting and crafting new insurance plans tailored to meet the specific requirements of modern travelers.

These providers may introduce specialized coverage for adventure activities, extended travel periods, or the lifestyle of digital nomads. By offering insurance options that resonate with emerging travel trends and destinations, insurers attract a broader clientele and extend their market presence. This proactive approach not only addresses the evolving demands of travelers but also fuels market expansion by furnishing comprehensive solutions that afford peace of mind and protection across a myriad of travel experiences. Ultimately, the symbiotic relationship between the evolving travel industry and innovative insurance offerings propels market growth and ensures that travelers have access to appropriate coverage for their diverse travel needs.

Regulatory Challenges Hinder the Mexico Market Growth

Navigating regulatory hurdles remains a significant challenge in the expansion of the travel insurance market in the country. Complying with various regulations across different regions and countries proves complex and costly for insurance providers. Moreover, regulatory changes or uncertainties may create barriers to entry for new players, constraining competition and innovation. Additionally, stringent regulations concerning coverage terms, pricing, and claims processing can hinder insurers' ability to offer flexible and customized products to meet evolving customer needs. These challenges not only increase administrative burdens but also limit opportunities for market expansion, impeding the overall growth potential of the travel insurance industry.

Integration of Blockchain Technology Creates Ample Opportunity for the Mexico Market Growth

The integration of blockchain technology introduces numerous opportunities for market growth in the travel insurance industry in the country. With its enhanced security, transparency, and efficiency in data management and transactions, blockchain helps mitigate fraudulent activities and enhances trust between insurers and customers. Smart contracts, enabled by blockchain, can automate policy issuance, claims processing, and settlements, thereby streamlining operations and reducing administrative costs for insurers.

Furthermore, blockchain's decentralized nature enables seamless collaboration among stakeholders, including insurers, travel agencies, and healthcare providers, facilitating faster and more accurate information sharing. This integration not only improves customer experiences by providing real-time updates and personalized services but also creates new possibilities for innovative insurance products, such as parametric insurance tailored to specific travel risks. Ultimately, blockchain technology establishes a strong foundation for market growth by driving operational efficiencies, cost reductions, and fostering greater trust and collaboration across the travel insurance ecosystem.

Competitive Landscape

Several market players operating in the Mexico 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. 

Mexico 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 586.5 Million

Revenue Forecast in 2030

USD 1359.9 Million

Growth Rate

CAGR of 11.6 % from 2024 to 2030

Analysis Period

2023–2030

Base Year Considered

2023

Forecast Period

2024–2030

Market Size Estimation

Million (USD)

Growth Factors

  • Increasing marketing and awareness of travel insurance drives the industry.

  • Evolving travel landscape boost 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      MEXICO 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       MEXICO TRAVEL INSURANCE MARKET BY AGE

           6.1      OVERVIEW

           6.2      MILLENNIALS MARKET

           6.3      GENERATION X MARKET

           6.4      BABY BOOMERS MARKET

7       MEXICO 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       MEXICO 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 COVERAGE MARKET

9       MEXICO 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       MEXICO 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       MEXICO 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   AXA SA

                         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   ZURICH INSURANCE GROUP LIMITED

                         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   AMERICAN INTERNATIONAL GROUP, INC.

                         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   CHUBB 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   AVIVA PLC

                         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   NATIONWIDE

                         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   BERKSHIRE HATHAWAY SPECIALITY INSURANCE

                         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   TRAVEL INSURED INTERNATIONAL

                         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   GENERALI GROUP AND OTHERS

                         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. MEXICO 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. MEXICO 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. MEXICO 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 COVERAGE, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 14. MEXICO 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. MEXICO 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. MEXICO 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. AXA SA: COMPANY SNAPSHOT

TABLE 38. AXA SA: OPERATING BUSINESS SEGMENTS

TABLE 39. AXA SA: PRODUCT PORTFOLIO

TABLE 40. AXA SA: SALES BY BUSINESS SEGMENTS (2021-2023)

TABLE 41. AXA SA: SALES BY GEOGRAPHIC SEGMENTS (2021-2023)

TABLE 42. AXA SA: KEY STRATERGY

TABLE 43. ZURICH INSURANCE GROUP LIMITED: COMPANY SNAPSHOT

TABLE 44. ZURICH INSURANCE GROUP LIMITED: OPERATING BUSINESS SEGMENTS

TABLE 45. ZURICH INSURANCE GROUP LIMITED: PRODUCT PORTFOLIO

TABLE 46. ZURICH INSURANCE GROUP LIMITED: SALES BY BUSINESS SEGMENTS (2021-2023)

TABLE 47. ZURICH INSURANCE GROUP LIMITED: SALES BY GEOGRAPHIC SEGMENTS (2021-2023)

TABLE 48. ZURICH INSURANCE GROUP LIMITED: KEY STRATERGY

TABLE 49. AMERICAN INTERNATIONAL GROUP, INC.: COMPANY SNAPSHOT

TABLE 50. AMERICAN INTERNATIONAL GROUP, INC.: OPERATING BUSINESS SEGMENTS

TABLE 51. AMERICAN INTERNATIONAL GROUP, INC.: PRODUCT PORTFOLIO

TABLE 52. AMERICAN INTERNATIONAL GROUP, INC.: SALES BY BUSINESS SEGMENTS (2021-2023)

TABLE 53. AMERICAN INTERNATIONAL GROUP, INC.: SALES BY GEOGRAPHIC SEGMENTS (2021-2023)

TABLE 54. AMERICAN INTERNATIONAL GROUP, INC.: KEY STRATERGY

TABLE 55. CHUBB LIMITED: COMPANY SNAPSHOT

TABLE 56. CHUBB LIMITED: OPERATING BUSINESS SEGMENTS

TABLE 57. CHUBB LIMITED: PRODUCT PORTFOLIO

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

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

TABLE 60. CHUBB LIMITED: KEY STRATERGY

TABLE 61. AVIVA PLC: COMPANY SNAPSHOT

TABLE 62. AVIVA PLC: OPERATING BUSINESS SEGMENTS

TABLE 63. AVIVA PLC: PRODUCT PORTFOLIO

TABLE 64. AVIVA PLC: SALES BY BUSINESS SEGMENTS (2021-2023)

TABLE 65. AVIVA PLC: SALES BY GEOGRAPHIC SEGMENTS (2021-2023)

TABLE 66. AVIVA PLC: KEY STRATERGY

TABLE 67. NATIONWIDE: COMPANY SNAPSHOT

TABLE 68. NATIONWIDE: OPERATING BUSINESS SEGMENTS

TABLE 69. NATIONWIDE: PRODUCT PORTFOLIO

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

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

TABLE 72. NATIONWIDE: KEY STRATERGY

TABLE 73. BERKSHIRE HATHAWAY SPECIALITY INSURANCE: COMPANY SNAPSHOT

TABLE 74. BERKSHIRE HATHAWAY SPECIALITY INSURANCE: OPERATING BUSINESS SEGMENTS

TABLE 75. BERKSHIRE HATHAWAY SPECIALITY INSURANCE: PRODUCT PORTFOLIO

TABLE 76. BERKSHIRE HATHAWAY SPECIALITY INSURANCE: SALES BY BUSINESS SEGMENTS (2021-2023)

TABLE 77. BERKSHIRE HATHAWAY SPECIALITY INSURANCE: SALES BY GEOGRAPHIC SEGMENTS (2021-2023)

TABLE 78. BERKSHIRE HATHAWAY SPECIALITY INSURANCE: KEY STRATERGY

TABLE 79. TRAVEL INSURED INTERNATIONAL: COMPANY SNAPSHOT

TABLE 80. TRAVEL INSURED INTERNATIONAL: OPERATING BUSINESS SEGMENTS

TABLE 81. TRAVEL INSURED INTERNATIONAL: PRODUCT PORTFOLIO

TABLE 82. TRAVEL INSURED INTERNATIONAL: SALES BY BUSINESS SEGMENTS (2021-2023)

TABLE 83. TRAVEL INSURED INTERNATIONAL: SALES BY GEOGRAPHIC SEGMENTS (2021-2023)

TABLE 84. TRAVEL INSURED INTERNATIONAL: KEY STRATERGY

TABLE 85. GENERALI GROUP AND OTHERS: COMPANY SNAPSHOT

TABLE 86. GENERALI GROUP AND OTHERS: OPERATING BUSINESS SEGMENTS

TABLE 87. GENERALI GROUP AND OTHERS: PRODUCT PORTFOLIO

TABLE 88. GENERALI GROUP AND OTHERS: SALES BY BUSINESS SEGMENTS (2021-2023)

TABLE 89. GENERALI GROUP AND OTHERS: SALES BY GEOGRAPHIC SEGMENTS (2021-2023)

TABLE 90. GENERALI GROUP AND OTHERS: 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. MEXICO 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. MEXICO 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. MEXICO 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 COVERAGE, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 19. MEXICO 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. MEXICO 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. MEXICO 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. AXA SA: NET SALES, (2021-2023)

FIGURE 39. AXA SA: PRIMARY MARKET COMPETITORS

FIGURE 40. ZURICH INSURANCE GROUP LIMITED: NET SALES, (2021-2023)

FIGURE 41. ZURICH INSURANCE GROUP LIMITED: PRIMARY MARKET COMPETITORS

FIGURE 42. AMERICAN INTERNATIONAL GROUP, INC.: NET SALES, (2021-2023)

FIGURE 43. AMERICAN INTERNATIONAL GROUP, INC.: PRIMARY MARKET COMPETITORS

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

FIGURE 45. CHUBB LIMITED: PRIMARY MARKET COMPETITORS

FIGURE 46. AVIVA PLC: NET SALES, (2021-2023)

FIGURE 47. AVIVA PLC: PRIMARY MARKET COMPETITORS

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

FIGURE 49. NATIONWIDE: PRIMARY MARKET COMPETITORS

FIGURE 50. BERKSHIRE HATHAWAY SPECIALITY INSURANCE: NET SALES, (2021-2023)

FIGURE 51. BERKSHIRE HATHAWAY SPECIALITY INSURANCE: PRIMARY MARKET COMPETITORS

FIGURE 52. TRAVEL INSURED INTERNATIONAL: NET SALES, (2021-2023)

FIGURE 53. TRAVEL INSURED INTERNATIONAL: PRIMARY MARKET COMPETITORS

FIGURE 54. GENERALI GROUP AND OTHERS: NET SALES, (2021-2023)

FIGURE 55. GENERALI GROUP AND OTHERS: PRIMARY MARKET COMPETITORS

KEY PLAYERS

  • 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


Frequently Asked Questions
What does travel insurance typically cover?

Travel insurance policies vary, but common coverage includes trip cancellation or interruption, medical expenses, emergency medical evacuation, lost or delayed luggage, travel delays, and assistance services such as 24/7 emergency assistance hotlines.

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

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

Which is the dominating region in the travel insurance market?

According to Next Move Strategy Consulting, North America is the dominant region in the travel insurance market.

What are the key players operating in the Mexico travel insurance market?

Several market players operating in the Mexico 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.

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

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