Europe Travel Insurance Market Global Opportunity Analysis and Industry Forecast, 2016-2022 Europe Travel Insurance Market by Distribution Channel, Insurance Cover, and End User: Global Opportunity Analysis and Industry Forecast, 20162022, the Europe travel insurance market was valued at $5,390 million in 2016, and is estimated to reach $ 7,583 million by 2023, registering a CAGR of 5.9% from 2016 to 2022. In 2016, the insurance intermediaries segment is estimated to dominate the Europe travel insurance market.
Access Full Summary at: https://www.alliedmarketresearch.com/europe-travelinsurance-market The key driver for the growth of Europe travel insurance market is the trend of countries within the region adopting travel insurance as a prerequisite for obtaining VISA. Furthermore, government and insurance regulatory bodies are creating a high-level awareness to the population and generating the demand for the growth of Europe travel insurance market. Low penetration level of insurance market and less awareness about the benefit related to travel insurance restrain the market growth. UK is the market leader and accounted for 29% share of the Europe market in 2016, followed by Germany. UK is expected to maintain its dominance in the Europe travel insurance market, due to the process of Brexit, as the majority of the UK travelers are rely on European Health Insurance Card (EHIC) instead of purchasing a travel insurance policy to save money. However, Austria and Switzerland is estimated to grow at the highest CAGR of 7.5% and 7.1% during the forecast period, respectively. Exponential market growth in Austria is due to the gradual improvement in its economy and increase in tourism promotional activities by the Austria National Tourist Office. Based on distribution channel, traditional sources such as tour operators and travel agents have maintained their dominance in providing insurance policies with the help of advanced technology, combined with good training, and competitive pricing. However, with the changing consumer behavior and growth in digitalized channels, the online insurance aggregators have also gained market share. During the forecast period insurance aggregator is projected to grow at a CAGR of 10.6%. Download Request Sample Copy of https://www.alliedmarketresearch.com/request-sample/2291
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