|[February 12, 2014]
Research and Markets: Travel Insurance and Assistance in the Asia-Pacific Region
DUBLIN --(Business Wire)--
Research and Markets (http://www.researchandmarkets.com/research/tlff9k/travel_insurance)
has announced the addition of the "Travel
Insurance and Assistance in the Asia-Pacific Region" report to
Travel Insurance and Assistance in the Asia-Pacific Region investigates
the market for stand-alone travel insurance and assistance in ten
countries, namely, Australia, China, Hong Kong, India, Indonesia, Japan,
New Zealand, Singapore, South Korea and Taiwan.
This market is estimated by Finaccord to have been worth USD 3.63
billion in gross written premiums in 2012 having increased by over USD 1
billion since 2008. 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.
For the research, Finaccord investigated the distributio partnerships
of 1,220 travel trade, transportation and financial organisations across
the region; 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.
- the number of foreign trips (lasting one night or more) across the ten
Asia-Pacific countries increased from 162 million in 2008 to 219 million
in 2012, which equates to a compound annual growth rate of 7.8% during
- on average, annual policies accounted for 13.5% of all stand-alone
travel cover sold during 2012, and annual policies are perceived to be
most significant in Singapore and least widespread in Taiwan;
-across its various subsidiaries, AIG is the leading provider of travel
insurance and assistance in the Asia-pacific region, 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
- gross written premiums from stand-alone travel insurance and
assistance in the ten countries are forecast to increase to USD 5.24
billion in 2016 which, after taking inflation into account, would
represent an increase of 5.6% per year between 2012 and 2016.
For more information visit http://www.researchandmarkets.com/research/tlff9k/travel_insurance
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