Italy Travel Insurance Market Poised to Grow by 2023: Key Vendors, Industry Demand, Drivers and Outlook

A new market research report on the Italy Travel Insurance market has introduced by KD Market Insights. The report is dedicated to in-depth industry analysis of the Italy Travel Insurance market. The Italy Travel Insurance  analysis is broken down on different segmentation levels including Market By Product Type, By Distribution Channel, By End-User.

Travel insurance covers the cost incurred due to any problematic incidents while traveling. It includes trip cancellation losses, loss of baggage, medical treatment of patients, and loss of travel documents, evacuation, or deportation during an emergency, and some other unavoidable conditions. In the coming years, the Italy travel insurance market is projected to grow at a significant rate owing to its low penetration rate and growth in tourism industry. According to World Travel & Tourism Council (WTTC), Italy tourism sector will rise by 2.6% in the year 2017, and is expected to contribute around 5.1% of country's GDP by 2027.

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The growth of the travel insurance market is largely attributed to the growth in trend of availing travel insurance as a prerequisite for obtaining Visa to ensure that travelers are adequately covered in case of medical emergencies due to hospitalization in foreign countries and high costs of medical services during travel time.
However, lack of awareness regarding various insurance schemes and benefits of travel insurance are expected to hamper the growth of the Italy travel insurance market. Moreover, relaxed norms and low fluctuation in rates due to large number of competitors have resulted in decline of gross written premium.

The market is segmented based on type of distribution channel, product types, end user, and geography. Based on product type, it is classified into single trip, annual multi-trip, and long stay.

Based on distribution channel, the market is classified into insurance intermediaries, insurance company, bank, insurance broker, insurance aggregators, and others. Based on end user, it is classified into senior citizens, education travelers, backpackers, business travelers, family travelers, and fully independent traveler.

Some of the significant players profiled in the report are Allianz global assistance SAS, AXA Group, DARAG Deutsche Versicherungs- und R¼ckversicherungs-AG, Filo Diretto, Generali Group, Gruppo Cattolica Assicurazioni, MAPFRE S.A., Reale Mutua Assicurazioni, and UnipolSai Assicurazioni S.p.A. All these key players are involved in various strategic developments, such as partnerships, collaborations, mergers & acquisition and others to increase their market penetration in the industry.

KEY BENEFITS FOR STAKEHOLDERS

– In-depth analysis of the Italy travel insurance industry along with its dynamics is provided to understand the market scenario.
– Quantitative analysis of the current trends and future estimations from 2017 to 2023 is provided to assist strategists and stakeholders to capitalize on prevailing opportunities.
– Porter's Five Forces analysis examines the competitive structure of the Italy travel insurance market and provides a clear understanding of the factors that influence the market entry and expansion.
– Comprehensive analysis of the trends, sub-segments, and key revenue pockets are provided in the report.
– Detailed analysis of the key players and their business strategies are anticipated to assist stakeholders to take informed business decisions.
– Profile analysis of leading players that operate in the Italy travel insurance market are provided in the report, which highlight the major developmental strategies such as mergers & acquisitions, expansions, and new product launches adopted by these companies.

KEY MARKET SEGMENTS

By Product Type

– Single trip travel insurance
– Annual multi-trip travel insurance
– Long stay travel insurance

By Distribution Channel

– Insurance intermediaries
– Insurance company
– Bank
– Insurance broker
– Insurance aggregator
– Other

By End-User

– Senior citizen
– Education traveler
– Backpackers
– Business traveler
– Family traveler
– Fully independent traveler

The key players profiled in the report are as follows:

– UnipolSai Assicurazioni S.p. A
– Reale Mutua Assicurazioni
– Gruppo Cattolica Assicurazioni
– DARAG Deutsche Versicherungs- und R¼ckversicherungs-AG
– Generali Group
– Allianz Group
– AXA Group
– Filo Diretto
– MAPFRE SA

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Table of Content

CHAPTER 1 INTRODUCTION

1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS FOR STAKEHOLDERS
1.3. RESEARCH METHODOLOGY

1.3.1. Primary research
1.3.2. Secondary research
1.3.3. Analyst tools and models
1.3.4. Market segmentation

CHAPTER 2 EXECUTIVE SUMMARY

2.1. CXO PERSPECTIVE

CHAPTER 3 MARKET OVERVIEW

3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS

3.2.1. Top winning strategies
3.2.2. Top investment pockets
3.2.3. Top impacting factors

3.2.3.1. Growth in tourism sector
3.2.3.2. Surge in baby boomers travelers
3.2.3.3. Lack of knowledge and low penetration of insurance policies
3.2.3.4. Technological advancement in the travel insurance industry

3.3. PORTERS FIVE FORCES

3.3.1. Bargaining power of suppliers
3.3.2. Bargaining power of buyers
3.3.3. Threat of substitutes
3.3.4. Threat of new entrants
3.3.5. Competitive rivalry

3.4. MARKET PLAYER POSITIONING
3.5. MARKET DYNAMICS

3.5.1. Drivers

3.5.1.1. Growth in tourism sector
3.5.1.2. Stringent travel rules and regulation by government authorities
3.5.1.3. Surge in baby boomers travelers

3.5.2. Restraints

3.5.2.1. Lack of knowledge and low penetration of insurance policies

3.5.3. Opportunities

3.5.3.1. Technological advancement in the travel insurance industry

CHAPTER 4 ITALY TRAVEL INSURANCE MARKET, BY PRODUCT TYPE

4.1. OVERVIEW
4.2. SINGLE TRIP TRAVEL INSURANCE

4.2.1. Key market trends and growth factors
4.2.2. Market size and forecast

4.3. ANNUAL MULTI-TRIP TRAVEL INSURANCE

4.3.1. Key market trends and growth factors
4.3.2. Market size and forecast

4.4. LONG-STAY TRAVEL INSURANCE

4.4.1. Key market trends and growth factors
4.4.2. Market size and forecast

CHAPTER 5 ITALY TRAVEL INSURANCE MARKET, BY DISTRIBUTION CHANNEL

5.1. OVERVIEW
5.2. INSURANCE INTERMEDIARIES

5.2.1. Key market trends and growth factors
5.2.2. Market size and forecast

5.3. INSURANCE COMPANY

5.3.1. Key market trends and growth factors
5.3.2. Market size and forecast

5.4. BANK

5.4.1. Key market trends and growth factors
5.4.2. Market size and forecast

5.5. INSURANCE BROKER

5.5.1. Key market trends and growth factors
5.5.2. Market size and forecast

5.6. INSURANCE AGGREGATOR

5.6.1. Key market trends and growth factors
5.6.2. Market size and forecast

5.7. OTHER

5.7.1. Key market trends and growth factors
5.7.2. Market size and forecast

CHAPTER 6 ITALY TRAVEL INSURANCE MARKET, BY END USER

6.1. OVERVIEW
6.2. SENIOR CITIZEN

6.2.1. Key market trends and growth factors
6.2.2. Market size and forecast

6.3. EDUCATION TRAVELER

6.3.1. Key market trends and growth factors
6.3.2. Market size and forecast

6.4. BACKPACKERS

6.4.1. Key market trends and growth factors
6.4.2. Market size and forecast

6.5. BUSINESS TRAVELER

6.5.1. Key market trends and growth factors
6.5.2. Market size and forecast

6.6. FAMILY TRAVELER

6.6.1. Key market trends and growth factors
6.6.2. Market size and forecast

6.7. FULLY INDEPENDENT TRAVELER

6.7.1. Key market trends and growth factors
6.7.2. Market size and forecast

CHAPTER 7 COMPANY PROFILES

7.1. UNIPOLSAI ASSICURAZIONI S.P.A.

7.1.1. Company overview
7.1.2. Company snapshot
7.1.3. Operating business segments
7.1.4. Business performance
7.1.5. Key strategic moves and developments

7.2. REALE MUTUA ASSICURAZIONI

7.2.1. Company overview
7.2.2. Company snapshot
7.2.3. Operating business segments
7.2.4. Business performance
7.2.5. Key strategic moves and developments

7.3. GRUPPO CATTOLICA ASSICURAZIONI

7.3.1. Company overview
7.3.2. Company snapshot
7.3.3. Operating business segments
7.3.4. Business performance
7.3.5. Key strategic moves and developments

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