Market Overview:
The global cruise travel insurance market is expected to grow at a CAGR of 7.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for cruise travel and the subsequent increase in the number of cruises being offered by various cruise operators across different regions. In addition, the growing awareness about the benefits of having insurance coverage for cruises is also contributing to market growth. The global cruise travel insurance market can be segmented on the basis of type, application, and region. On the basis of type, it can be divided into single trip coverage, annual multi-trip coverage, and other types such as emergency medical evacuation policies or trip cancellation policies etc. Annual multi-trip coverage is expected to witness higher growth duringthe forecast period as it offers convenience and covers multiple trips within a year at a lower premium cost as compared to buying individual single trip policies each time one takes a vacation/cruise holiday. ).
Product Definition:
Cruise travel insurance provides coverage for the unexpected, such as trip cancellation or interruption, loss of baggage, and emergency medical expenses. It is important to have cruise travel insurance because it can help you recover some of the costs associated with your trip if something goes wrong.
Single Trip Coverage:
Single trip coverage is a travel insurance policy that covers one journey, either by air, land or sea. It can be availed for cruise vacations as well as for trips to foreign countries. Single trip policies are designed to provide medical and financial protection in case of an accident, illness or any other unforeseen event during the travel.
Annual Multi Trip Coverage:
An annual multi-trip coverage is a travel insurance policy that provides cover for an individual traveler for multiple trips. It can be availed either as a standalone product or in conjunction with other travel insurance policies such as the standard multi-trip policy and the European health cover. Annual Multi Trip Coverage (AMTC) is designed to provide travelers with financial protection in case of unexpected events during a single trip, which may require multiple trips to resolve.
Application Insights:
The cruise ship passengers insurance application segment dominated the overall industry in terms of revenue share in 2017. The segment is expected to continue its dominance over the forecast period owing to various factors such as increasing number of cruise ships, growing popularity of destination weddings and honeymoons, and rising disposable income among consumers globally.
The company or the passenger buys an insurance policy from an insurer or an agent for a particular trip. This type of travel insurance plan is ideal for travelers who have already purchased their tickets and are looking forward to traveling soon. Single-trip coverage provides financial assistance if there is any medical emergency during a single trip abroad, whereas annual multi-trip coverage covers several trips taken by one person throughout the year with different airlines/cruise lines (subject to maximum limit).
Regional Analysis:
The market in North America is expected to witness significant growth over the forecast period owing to the presence of a large number of cruise ship operators and passengers. The region accounted for more than 50% share in 2016, owing to high demand from U.S., Canada, and Mexico. In addition, growing trend towards luxury travel is also expected to drive regional market growth over the forecast period.
Asia Pacific was estimated as largest regional market in 2016 due to increasing passenger traffic on cruise ships coupled with growing awareness about various insurance schemes offered by intermediaries or Cruise Line Insurance Corporation (CLIC). Increasing expenditure power among middle-class income groups of China & India has led them opting for premium cruises on long haul routes thus creating opportunities for CLIC’s products such as Allianz Global Cruising (AGC) Ltd.
Growth Factors:
- Increasing demand for cruise travel as a leisure activity
- Rising disposable income of consumers in developed countries
- Proliferation of online booking platforms and travel agencies catering to cruise travel
- Growing popularity of luxury cruises and river cruises
- Expansion of the global cruise fleet
Scope Of The Report
Report Attributes
Report Details
Report Title
Cruise Travel Insurance Market Research Report
By Type
Single Trip Coverage, Annual Multi Trip Coverage, Other
By Application
Insurance Intermediaries, Insurance Company, Bank, Insurance Broker, Others
By Companies
Allianz, AIG, Munich RE, Generali, Tokio Marine, Sompo Japan, CSA Travel Protection, AXA, Pingan Baoxian, Mapfre Asistencia, USI Affinity, Seven Corners, Hanse Merkur, MH Ross, STARR
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
247
Number of Tables & Figures
173
Customization Available
Yes, the report can be customized as per your need.
Global Cruise Travel Insurance Market Report Segments:
The global Cruise Travel Insurance market is segmented on the basis of:
Types
Single Trip Coverage, Annual Multi Trip Coverage, Other
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Insurance Intermediaries, Insurance Company, Bank, Insurance Broker, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Allianz
- AIG
- Munich RE
- Generali
- Tokio Marine
- Sompo Japan
- CSA Travel Protection
- AXA
- Pingan Baoxian
- Mapfre Asistencia
- USI Affinity
- Seven Corners
- Hanse Merkur
- MH Ross
- STARR
Highlights of The Cruise Travel Insurance Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Single Trip Coverage
- Annual Multi Trip Coverage
- Other
- By Application:
- Insurance Intermediaries
- Insurance Company
- Bank
- Insurance Broker
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Cruise Travel Insurance Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Cruise travel insurance is a type of travel insurance that covers passengers during their cruise trip. This type of coverage can help protect passengers from unexpected expenses, such as medical bills or lost luggage.
Some of the major companies in the cruise travel insurance market are Allianz, AIG, Munich RE, Generali, Tokio Marine, Sompo Japan, CSA Travel Protection, AXA, Pingan Baoxian, Mapfre Asistencia, USI Affinity, Seven Corners, Hanse Merkur, MH Ross, STARR.
The cruise travel insurance market is expected to register a CAGR of 7.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Cruise Travel Insurance Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Cruise Travel Insurance Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Cruise Travel Insurance Market - Supply Chain
4.5. Global Cruise Travel Insurance Market Forecast
4.5.1. Cruise Travel Insurance Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Cruise Travel Insurance Market Size (000 Units) and Y-o-Y Growth
4.5.3. Cruise Travel Insurance Market Absolute $ Opportunity
5. Global Cruise Travel Insurance Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Cruise Travel Insurance Market Size and Volume Forecast by Type
5.3.1. Single Trip Coverage
5.3.2. Annual Multi Trip Coverage
5.3.3. Other
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Cruise Travel Insurance Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Cruise Travel Insurance Market Size and Volume Forecast by Application
6.3.1. Insurance Intermediaries
6.3.2. Insurance Company
6.3.3. Bank
6.3.4. Insurance Broker
6.3.5. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Cruise Travel Insurance Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Cruise Travel Insurance Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Cruise Travel Insurance Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Cruise Travel Insurance Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Cruise Travel Insurance Demand Share Forecast, 2019-2026
9. North America Cruise Travel Insurance Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Cruise Travel Insurance Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Cruise Travel Insurance Market Size and Volume Forecast by Application
9.4.1. Insurance Intermediaries
9.4.2. Insurance Company
9.4.3. Bank
9.4.4. Insurance Broker
9.4.5. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Cruise Travel Insurance Market Size and Volume Forecast by Type
9.7.1. Single Trip Coverage
9.7.2. Annual Multi Trip Coverage
9.7.3. Other
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Cruise Travel Insurance Demand Share Forecast, 2019-2026
10. Latin America Cruise Travel Insurance Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Cruise Travel Insurance Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Cruise Travel Insurance Market Size and Volume Forecast by Application
10.4.1. Insurance Intermediaries
10.4.2. Insurance Company
10.4.3. Bank
10.4.4. Insurance Broker
10.4.5. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Cruise Travel Insurance Market Size and Volume Forecast by Type
10.7.1. Single Trip Coverage
10.7.2. Annual Multi Trip Coverage
10.7.3. Other
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Cruise Travel Insurance Demand Share Forecast, 2019-2026
11. Europe Cruise Travel Insurance Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Cruise Travel Insurance Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Cruise Travel Insurance Market Size and Volume Forecast by Application
11.4.1. Insurance Intermediaries
11.4.2. Insurance Company
11.4.3. Bank
11.4.4. Insurance Broker
11.4.5. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Cruise Travel Insurance Market Size and Volume Forecast by Type
11.7.1. Single Trip Coverage
11.7.2. Annual Multi Trip Coverage
11.7.3. Other
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Cruise Travel Insurance Demand Share, 2019-2026
12. Asia Pacific Cruise Travel Insurance Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Cruise Travel Insurance Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Cruise Travel Insurance Market Size and Volume Forecast by Application
12.4.1. Insurance Intermediaries
12.4.2. Insurance Company
12.4.3. Bank
12.4.4. Insurance Broker
12.4.5. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Cruise Travel Insurance Market Size and Volume Forecast by Type
12.7.1. Single Trip Coverage
12.7.2. Annual Multi Trip Coverage
12.7.3. Other
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Cruise Travel Insurance Demand Share, 2019-2026
13. Middle East & Africa Cruise Travel Insurance Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Cruise Travel Insurance Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Cruise Travel Insurance Market Size and Volume Forecast by Application
13.4.1. Insurance Intermediaries
13.4.2. Insurance Company
13.4.3. Bank
13.4.4. Insurance Broker
13.4.5. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Cruise Travel Insurance Market Size and Volume Forecast by Type
13.7.1. Single Trip Coverage
13.7.2. Annual Multi Trip Coverage
13.7.3. Other
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Cruise Travel Insurance Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Cruise Travel Insurance Market: Market Share Analysis
14.2. Cruise Travel Insurance Distributors and Customers
14.3. Cruise Travel Insurance Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Allianz
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. AIG
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Munich RE
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Generali
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Tokio Marine
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Sompo Japan
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. CSA Travel Protection
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. AXA
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Pingan Baoxian
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Mapfre Asistencia
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. USI Affinity
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Seven Corners
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Hanse Merkur
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. MH Ross
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. STARR
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook