Saudi Arabia Travel Insurance Market Report to 2027 - Featuring Allianz Saudi Fransi Cooperative Insurance, METLIFE AIG ANB, AXA Cooperative Insurance and Seven Corners Among Others - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Saudi Arabia Travel Insurance Market By Insurance Cover By Sales Medium By Age Group, By Region, Company Forecast & Opportunities, 2027" report has been added to ResearchAndMarkets.com's offering.

Saudi Arabia travel insurance market is expected to register a steady CAGR during the forecast period, 2023-2027.

Companies Mentioned:

• Allianz Saudi Fransi Cooperative Insurance Co.
• METLIFE AIG ANB
• AXA Cooperative Insurance Co
• Seven Corners Inc.
• The Company for Cooperative Insurance
• The Mediterranean & Gulf Insurance & Reinsurance Company
• Bupa Arabia for Cooperative Insurance
• United Cooperative Assurance Co
• Arabia Insurance Cooperative Company
• Al-Ahlia Insurance Co.

Factors such as the favorable government policies promoting the travel & tourism industry and the rise in the per capita income of consumers are driving the demand for Saudi Arabia travel insurance market. Also, the use of online sales channels by the market players to reach a greater number of tourists is expected to influence the market demand positively in the next five years.

The Saudi Arabia travel insurance market is segmented into insurance cover, sales medium, age group, regional distribution, and competitive landscape. Based on age group, the market can be divided into senior citizens, adult, student, children, and others. The senior segment is expected to account for significant growth in the forecast period, 2023-2027.

Growing older increases the danger of contracting diseases and increases the likelihood of suffering an injury while traveling. Additionally, businesses are implementing appealing marketing techniques to entice more clients to purchase travel insurance policies.

Based on insurance cover, the market is divided into single-trip travel insurance and multi-trip travel insurance. The multi-travel insurance segment is expected to capture the highest market share in the next five years. It is generally more economical and covers a number of trips under a single insurance cover. The ease and convenience of availing multi-trip travel insurance cover is driving the segment demand through the next five years.

The major players operating in the Saudi Arabia travel insurance market are Allianz Saudi Fransi Cooperative Insurance Co., METLIFE AIG ANB, AXA Cooperative Insurance Co, Seven Corners Inc., The Company for Cooperative Insurance, The Mediterranean & Gulf Insurance & Reinsurance Company, Bupa Arabia for Cooperative Insurance, United Cooperative Assurance Co, Arabia Insurance Cooperative Company, Al-Ahlia Insurance Co., and others.

Years considered for this report:

• Historical Years: 2017-2020
• Base Year: 2021
• Estimated Year: 2022
• Forecast Period: 2023-2027

Objective of the Study:

• To analyze the market size of Saudi Arabia travel insurance market from 2017 to 2021.
• To estimate and forecast the market size of Saudi Arabia travel insurance market from 2022 to 2027 and growth rate until 2027.
• To classify and forecast Saudi Arabia travel insurance market based on insurance cover, sales medium, age group, regional distribution, and company.
• To identify dominant region or segment in the Saudi Arabia travel insurance market.
• To identify drivers and challenges for Saudi Arabia travel insurance market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Saudi Arabia travel insurance market.
• To identify and analyze the profile of leading players operating in Saudi Arabia travel insurance market.
• To identify key sustainable strategies adopted by market players in Saudi Arabia travel insurance market.

Report Scope:

In this report, Saudi Arabia travel insurance market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Saudi Arabia Travel Insurance Market, By Insurance Cover:

• Single-Trip Travel Insurance
• Multi-Trip Travel Insurance
• Others

Saudi Arabia Travel Insurance Market, By Sales Medium:

• Insurance Aggregators/ Agents
• Insurance Companies
• Online
• Others

Saudi Arabia Travel Insurance Market, By Age Group:

• Senior Citizens
• Adult
• Student
• Children
• Others

Saudi Arabia Travel Insurance Market, By Region:

• Western Region
• Northern & Central Region
• Eastern Region
• Southern Region

For more information about this report visit https://www.researchandmarkets.com/r/16s8ua-arabia?w=4.