Home > Media & Technology > Next Generation Technologies > Travel Credit Insurance Market

Travel Credit Insurance Market Share

Report ID: GMI9122
Published Date: Apr 2024
Report Format: PDF

Download Free Sample

Travel Credit Insurance Market Share

American Express, JPMorgan Chase, and AIG dominate the travel credit insurance industry holding market share over 25%. These companies offer a wide range of credit cards with robust travel insurance benefits, attracting a large customer base. Their established brand reputation and global presence instill trust and confidence among consumers, who perceive their insurance offerings as reliable and comprehensive. Additionally, these companies often provide tailored insurance solutions catering to various customer segments, including individual and business cardholders.

Furthermore, their extensive distribution networks and partnerships with travel agencies, airlines, and other stakeholders enhance their market reach and accessibility. American Express, JPMorgan Chase, and AIG's market dominance reflects their strategic positioning, product innovation, and customer-centric approach in the competitive travel credit insurance landscape.

Travel Credit Insurance Market Companies

Major companies operating in the travel credit insurance industry are:

American Express
JPMorgan Chase
Citi
Capital One
Bank of America
Wells Fargo
U.S. Bank
PNC Bank
Barclays
HSBC
Allianz Partners
Travelex Insurance Services
Nationwide

Authors: Preeti Wadhwani, Aishwarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of travel credit insurance reached USD 14.1 billion in 2023 and is set to witness 10% CAGR between 2024 and 2032, as travelers become more conscious of potential risks associated with their journeys.

The trip cancellation segment is expected to hold over 76% of the market share by 2032, owing to the increasing travel uncertainties and disruptions caused by events like natural disasters, political unrest, and health emergencies.

North America market size generated USD 4 billion in revenue in 2023, attributed to a large population of frequent travelers and a diverse range of destinations.

American Express, JPMorgan Chase, Citi, Capital One, Bank of America, Wells Fargo, U.S. Bank, PNC Bank, Barclays, HSBC, Allianz Partners, Travelex Insurance Services and Nationwide.