Summary

Senior Citizen Travel Insurance Market
The senior citizen travel insurance market was valued at $3.6 billion in 2023 and is projected to reach $16.7 billion by 2032, growing at a CAGR of 18.3% from 2024 to 2032.
Senior citizen travel insurance is a coverage plan designed for elderly travelers that particularly focuses on their health and age. It offers protection to individuals from unforeseen circumstances and covers the expenditure for medical expenses, trip interruptions, & travel-related risks. The crucial features of senior citizen travel insurance include high medical coverage, emergency treatment, lost baggage insurance, 24/7 assistance, and coverage for accidental death or dismemberment.

Increase in enthusiasm for traveling among the elderly population is a key driver of the senior citizen travel insurance market. In addition, rise in caution among the aged population regarding the potential health hazards fuels the adoption of travel insurance, thereby propelling the development of the market. Furthermore, the assimilation of travel insurance with wellness initiatives funded by the government propels the market growth significantly. A significant trend gaining prominence in the senior citizen travel insurance market is the availability of customization options in the coverage. This offers elderly travelers the flexibility to compose the terms of coverage as per their budget and requirements such as lost or delayed baggage, trip cancellation/interruption, annual or multi-trip coverage, and pre-existing conditions.

However, senior citizens remain at a high risk of medical emergencies, which increases the premium for travel insurance and hampers the development of the market. Moreover, lack of awareness regarding the existence of insurance policies dedicated to elderly travelers limits the customer base and restrains the market growth. On the contrary, partnerships and collaborations of insurance providers with travel booking agents & online websites are expected to present remunerative opportunities for the market. According to Business of Apps—a company providing critical insights into the app industry—travel apps generated a revenue of $629 billion in 2023, which was a 13% increase from 2022. Therefore, partnership with travel apps that particularly tailor tour plans for senior citizens is expected to open new avenues for the market.

Segment Review
The senior citizen travel insurance market is segmented into insurance cover, distribution channel, and region. On the basis of insurance cover, the market is divided into single-trip travel insurance, annual multi-trip travel insurance, and long-stay travel insurance. Depending on distribution channel, it is classified into insurance intermediaries, insurance companies, banks, insurance brokers, and insurance aggregators. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings
On the basis of insurance cover, the single-trip travel insurance segment held a high share of the market in 2023.
Depending on distribution channel, the insurance intermediaries segment dominated the market in 2023.
Region wise, North America was the highest revenue generator in 2023.
Competition Analysis
The major players in the global senior citizen travel insurance market include Zurich Insurance Group, AXA, Assicurazioni Generali S.p.A., PassportCard, Staysure, Just Travel Cover, American International Group, Inc., Trailfinders Ltd., Aviva, and Insurefor.com. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.

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Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)
● Consumer Buying Behavior Analysis
● End user preferences and pain points
● Industry life cycle assessment, by region
● Product Benchmarking / Product specification and applications
● Product Life Cycles
● Technology Trend Analysis
● Go To Market Strategy
● Market share analysis of players by products/segments
● New Product Development/ Product Matrix of Key Players
● Pain Point Analysis
● Regulatory Guidelines
● Strategic Recommendations
● Additional company profiles with specific to client's interest
● Additional country or region analysis- market size and forecast
● Brands Share Analysis
● Criss-cross segment analysis- market size and forecast
● Expanded list for Company Profiles
● Historic market data
● Key player details (including location, contact details, supplier/vendor network etc. in excel format)
● Market share analysis of players at global/region/country level
● SWOT Analysis
Key Market Segments
By Insurance Cover
● Single-trip travel insurance
● Annual multi-trip travel insurance
● Long-stay travel insurance
By Distribution Channel
● Insurance Intermediaries
● Insurance Companies
● Banks
● Insurance Brokers
● Insurance Aggregators
By Region
● North America
○ U.S.
○ Canada
● Europe
○ France
○ Germany
○ Italy
○ Spain
○ UK
○ Rest of Europe
● Asia-Pacific
○ China
○ Japan
○ India
○ South Korea
○ Australia
○ Rest of Asia-Pacific
● LAMEA
○ Latin America
○ Middle East
○ Africa
● Key Market Players
○ Zurich Insurance Group
○ AXA
○ Assicurazioni Generali S.p.A.
○ PassportCard
○ Staysure
○ Just Travel Cover
○ American International Group, Inc.
○ Trailfinders Ltd.
○ Aviva
○ Insurefor.com

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Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report Description
1.2. Key Market Segments
1.3. Key Benefits
1.4. Research Methodology
1.4.1. Primary Research
1.4.2. Secondary Research
1.4.3. Analyst Tools and Models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO Perspective
CHAPTER 3: MARKET LANDSCAPE
3.1. Market Definition and Scope
3.2. Key Findings
3.2.1. Top Investment Pockets
3.2.2. Top Winning Strategies
3.3. Porter's Five Forces Analysis
3.3.1. Bargaining Power of Suppliers
3.3.2. Threat of New Entrants
3.3.3. Threat of Substitutes
3.3.4. Competitive Rivalry
3.3.5. Bargaining Power among Buyers
3.4. Market Dynamics
3.4.1. Drivers
3.4.2. Restraints
3.4.3. Opportunities
CHAPTER 4: SENIOR CITIZEN TRAVEL INSURANCE MARKET, BY INSURANCE COVER
4.1. Market Overview
4.1.1 Market Size and Forecast, By Insurance Cover
4.2. Single-trip Travel Insurance
4.2.1. Key Market Trends, Growth Factors and Opportunities
4.2.2. Market Size and Forecast, By Region
4.2.3. Market Share Analysis, By Country
4.3. Annual Multi-trip Travel Insurance
4.3.1. Key Market Trends, Growth Factors and Opportunities
4.3.2. Market Size and Forecast, By Region
4.3.3. Market Share Analysis, By Country
4.4. Long-stay Travel Insurance
4.4.1. Key Market Trends, Growth Factors and Opportunities
4.4.2. Market Size and Forecast, By Region
4.4.3. Market Share Analysis, By Country
CHAPTER 5: SENIOR CITIZEN TRAVEL INSURANCE MARKET, BY DISTRIBUTION CHANNEL
5.1. Market Overview
5.1.1 Market Size and Forecast, By Distribution Channel
5.2. Insurance Intermediaries
5.2.1. Key Market Trends, Growth Factors and Opportunities
5.2.2. Market Size and Forecast, By Region
5.2.3. Market Share Analysis, By Country
5.3. Insurance Companies
5.3.1. Key Market Trends, Growth Factors and Opportunities
5.3.2. Market Size and Forecast, By Region
5.3.3. Market Share Analysis, By Country
5.4. Banks
5.4.1. Key Market Trends, Growth Factors and Opportunities
5.4.2. Market Size and Forecast, By Region
5.4.3. Market Share Analysis, By Country
5.5. Insurance Brokers
5.5.1. Key Market Trends, Growth Factors and Opportunities
5.5.2. Market Size and Forecast, By Region
5.5.3. Market Share Analysis, By Country
5.6. Insurance Aggregators
5.6.1. Key Market Trends, Growth Factors and Opportunities
5.6.2. Market Size and Forecast, By Region
5.6.3. Market Share Analysis, By Country
CHAPTER 6: SENIOR CITIZEN TRAVEL INSURANCE MARKET, BY REGION
6.1. Market Overview
6.1.1 Market Size and Forecast, By Region
6.2. North America
6.2.1. Key Market Trends and Opportunities
6.2.2. Market Size and Forecast, By Insurance Cover
6.2.3. Market Size and Forecast, By Distribution Channel
6.2.4. Market Size and Forecast, By Country
6.2.5. U.S. Senior Citizen Travel Insurance Market
6.2.5.1. Market Size and Forecast, By Insurance Cover
6.2.5.2. Market Size and Forecast, By Distribution Channel
6.2.6. Canada Senior Citizen Travel Insurance Market
6.2.6.1. Market Size and Forecast, By Insurance Cover
6.2.6.2. Market Size and Forecast, By Distribution Channel
6.3. Europe
6.3.1. Key Market Trends and Opportunities
6.3.2. Market Size and Forecast, By Insurance Cover
6.3.3. Market Size and Forecast, By Distribution Channel
6.3.4. Market Size and Forecast, By Country
6.3.5. France Senior Citizen Travel Insurance Market
6.3.5.1. Market Size and Forecast, By Insurance Cover
6.3.5.2. Market Size and Forecast, By Distribution Channel
6.3.6. Germany Senior Citizen Travel Insurance Market
6.3.6.1. Market Size and Forecast, By Insurance Cover
6.3.6.2. Market Size and Forecast, By Distribution Channel
6.3.7. Italy Senior Citizen Travel Insurance Market
6.3.7.1. Market Size and Forecast, By Insurance Cover
6.3.7.2. Market Size and Forecast, By Distribution Channel
6.3.8. Spain Senior Citizen Travel Insurance Market
6.3.8.1. Market Size and Forecast, By Insurance Cover
6.3.8.2. Market Size and Forecast, By Distribution Channel
6.3.9. UK Senior Citizen Travel Insurance Market
6.3.9.1. Market Size and Forecast, By Insurance Cover
6.3.9.2. Market Size and Forecast, By Distribution Channel
6.3.10. Rest Of Europe Senior Citizen Travel Insurance Market
6.3.10.1. Market Size and Forecast, By Insurance Cover
6.3.10.2. Market Size and Forecast, By Distribution Channel
6.4. Asia-Pacific
6.4.1. Key Market Trends and Opportunities
6.4.2. Market Size and Forecast, By Insurance Cover
6.4.3. Market Size and Forecast, By Distribution Channel
6.4.4. Market Size and Forecast, By Country
6.4.5. China Senior Citizen Travel Insurance Market
6.4.5.1. Market Size and Forecast, By Insurance Cover
6.4.5.2. Market Size and Forecast, By Distribution Channel
6.4.6. Japan Senior Citizen Travel Insurance Market
6.4.6.1. Market Size and Forecast, By Insurance Cover
6.4.6.2. Market Size and Forecast, By Distribution Channel
6.4.7. India Senior Citizen Travel Insurance Market
6.4.7.1. Market Size and Forecast, By Insurance Cover
6.4.7.2. Market Size and Forecast, By Distribution Channel
6.4.8. South Korea Senior Citizen Travel Insurance Market
6.4.8.1. Market Size and Forecast, By Insurance Cover
6.4.8.2. Market Size and Forecast, By Distribution Channel
6.4.9. Australia Senior Citizen Travel Insurance Market
6.4.9.1. Market Size and Forecast, By Insurance Cover
6.4.9.2. Market Size and Forecast, By Distribution Channel
6.4.10. Rest of Asia-Pacific Senior Citizen Travel Insurance Market
6.4.10.1. Market Size and Forecast, By Insurance Cover
6.4.10.2. Market Size and Forecast, By Distribution Channel
6.5. LAMEA
6.5.1. Key Market Trends and Opportunities
6.5.2. Market Size and Forecast, By Insurance Cover
6.5.3. Market Size and Forecast, By Distribution Channel
6.5.4. Market Size and Forecast, By Country
6.5.5. Latin America Senior Citizen Travel Insurance Market
6.5.5.1. Market Size and Forecast, By Insurance Cover
6.5.5.2. Market Size and Forecast, By Distribution Channel
6.5.6. Middle East Senior Citizen Travel Insurance Market
6.5.6.1. Market Size and Forecast, By Insurance Cover
6.5.6.2. Market Size and Forecast, By Distribution Channel
6.5.7. Africa Senior Citizen Travel Insurance Market
6.5.7.1. Market Size and Forecast, By Insurance Cover
6.5.7.2. Market Size and Forecast, By Distribution Channel
CHAPTER 7: COMPETITIVE LANDSCAPE
7.1. Introduction
7.2. Top Winning Strategies
7.3. Product Mapping Of Top 10 Player
7.4. Competitive Dashboard
7.5. Competitive Heatmap
7.6. Top Player Positioning, 2023
CHAPTER 8: COMPANY PROFILES
8.1. Zurich Insurance Group
8.1.1. Company Overview
8.1.2. Key Executives
8.1.3. Company Snapshot
8.1.4. Operating Business Segments
8.1.5. Product Portfolio
8.1.6. Business Performance
8.1.7. Key Strategic Moves and Developments
8.2. AXA
8.2.1. Company Overview
8.2.2. Key Executives
8.2.3. Company Snapshot
8.2.4. Operating Business Segments
8.2.5. Product Portfolio
8.2.6. Business Performance
8.2.7. Key Strategic Moves and Developments
8.3. Assicurazioni Generali S.p.A.
8.3.1. Company Overview
8.3.2. Key Executives
8.3.3. Company Snapshot
8.3.4. Operating Business Segments
8.3.5. Product Portfolio
8.3.6. Business Performance
8.3.7. Key Strategic Moves and Developments
8.4. PassportCard
8.4.1. Company Overview
8.4.2. Key Executives
8.4.3. Company Snapshot
8.4.4. Operating Business Segments
8.4.5. Product Portfolio
8.4.6. Business Performance
8.4.7. Key Strategic Moves and Developments
8.5. Staysure
8.5.1. Company Overview
8.5.2. Key Executives
8.5.3. Company Snapshot
8.5.4. Operating Business Segments
8.5.5. Product Portfolio
8.5.6. Business Performance
8.5.7. Key Strategic Moves and Developments
8.6. Just Travel Cover
8.6.1. Company Overview
8.6.2. Key Executives
8.6.3. Company Snapshot
8.6.4. Operating Business Segments
8.6.5. Product Portfolio
8.6.6. Business Performance
8.6.7. Key Strategic Moves and Developments
8.7. American International Group, Inc.
8.7.1. Company Overview
8.7.2. Key Executives
8.7.3. Company Snapshot
8.7.4. Operating Business Segments
8.7.5. Product Portfolio
8.7.6. Business Performance
8.7.7. Key Strategic Moves and Developments
8.8. Trailfinders Ltd.
8.8.1. Company Overview
8.8.2. Key Executives
8.8.3. Company Snapshot
8.8.4. Operating Business Segments
8.8.5. Product Portfolio
8.8.6. Business Performance
8.8.7. Key Strategic Moves and Developments
8.9. Aviva
8.9.1. Company Overview
8.9.2. Key Executives
8.9.3. Company Snapshot
8.9.4. Operating Business Segments
8.9.5. Product Portfolio
8.9.6. Business Performance
8.9.7. Key Strategic Moves and Developments
8.10. Insurefor.com
8.10.1. Company Overview
8.10.2. Key Executives
8.10.3. Company Snapshot
8.10.4. Operating Business Segments
8.10.5. Product Portfolio
8.10.6. Business Performance
8.10.7. Key Strategic Moves and Developments