Dublin, July 12, 2024 (GLOBE NEWSWIRE) — The “USA Travel Insurance Market, By Type, By Risk Coverage, By Trip Type, By Destination, By Distribution Channel, By End User: By Country – Market Size, Industry Dynamics, Opportunity Analysis and Forecast for 2024-2032” report has been added to ResearchAndMarkets.com’s offering.
The USA Travel Insurance Market, valued at US$ 4.79 billion in 2023, is projected to expand at a CAGR of 18.14% during the forecast period to reach $21.15 billion by 2032
The robust expansion of the U.S. travel insurance market is driven by several pivotal factors. Notably, a resurgence in both international and domestic travel post-pandemic has underscored the necessity of travel insurance for protection against cancellations, medical emergencies, and other unforeseen incidents. Heightened awareness of travel-related risks, particularly due to COVID-19, has further solidified the role of travel insurance in trip planning. Technological advancements have simplified policy management and purchase through digital platforms, with AI and machine learning personalizing products and optimizing claims processes.
Additionally, stricter regulatory demands for travel insurance in various nations have compelled American travelers to secure policies, broadening the market. Insurers are developing innovative products for specific activities like adventure sports and eco-tourism. Moreover, strategic partnerships between insurance providers and travel industry…
