Travel Insurance and Assistance in North and Latin America is a new market research publication announced by Reportstack. Travel Insurance and Assistance in North and Latin America investigates the market for stand-alone travel insurance and assistance in six countries, namely, Argentina, Brazil, Canada, Chile, Mexico and the US.
This market is estimated to have been worth USD 4.67 billion in gross written premiums in 2013 having increased by almost USD 1.40 billion since 2009. Moreover, the competitive and distribution dynamics of the market continue to evolve with new channels emerging and partnerships with major distributors subject to regular change.
It also analysed systematically the involvement in travel insurance in each country of other key distributor categories, namely automotive clubs, direct sales, online aggregators and brokers, other online brands, and retailers.
The report is accompanied by an Excel PartnerBASE™ dataset that details the travel insurance partnerships of each of the travel trade, transportation and financial organisations covered, plus a convenient market data annexe, also in Excel format.
Key findings from the executive summary include:
- the number of foreign trips (lasting one night or more) across the six countries in North and Latin America increased from 121 million in 2009 to 139 million in 2013, which equates to a compound annual growth rate of 3.6% during this period;
- on average, annual policies accounted for 10.6% of all stand-alone travel cover sold during 2013, and annual policies are perceived to be most significant in Canada and least widespread in Mexico;
- across its various subsidiaries, ACE is the leading provider of travel insurance and assistance in North and Latin America, as measured by the number of partnerships held with travel trade, transportation and financial organisations, and it is active in all ten of the countries investigated;
- gross written premiums from stand-alone travel insurance and assistance in the ten countries are forecast to increase to USD 6.53 billion in 2016 which, after taking inflation into account, would represent an increase of 5.2% per year between 2012 and 2016.
This market is estimated to have been worth USD 4.67 billion in gross written premiums in 2013 having increased by almost USD 1.40 billion since 2009. Moreover, the competitive and distribution dynamics of the market continue to evolve with new channels emerging and partnerships with major distributors subject to regular change.
It also analysed systematically the involvement in travel insurance in each country of other key distributor categories, namely automotive clubs, direct sales, online aggregators and brokers, other online brands, and retailers.
The report is accompanied by an Excel PartnerBASE™ dataset that details the travel insurance partnerships of each of the travel trade, transportation and financial organisations covered, plus a convenient market data annexe, also in Excel format.
Key findings from the executive summary include:
- the number of foreign trips (lasting one night or more) across the six countries in North and Latin America increased from 121 million in 2009 to 139 million in 2013, which equates to a compound annual growth rate of 3.6% during this period;
- on average, annual policies accounted for 10.6% of all stand-alone travel cover sold during 2013, and annual policies are perceived to be most significant in Canada and least widespread in Mexico;
- across its various subsidiaries, ACE is the leading provider of travel insurance and assistance in North and Latin America, as measured by the number of partnerships held with travel trade, transportation and financial organisations, and it is active in all ten of the countries investigated;
- gross written premiums from stand-alone travel insurance and assistance in the ten countries are forecast to increase to USD 6.53 billion in 2016 which, after taking inflation into account, would represent an increase of 5.2% per year between 2012 and 2016.
To view the table of contents and know more details please visit Travel Insurance and Assistance in North and Latin America report.
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