Base Year
Historical Year
Forecast Year
Value in AUD million
2024-2032
Australia Travel Insurance Market Outlook
*this image is indicative*
Single-trip travel insurance is driving the Australia travel insurance market growth as these are chosen by individuals or travellers due to their cost-effectiveness and customization.
These are more affordable than the other types of insurance coverage as these are taken generally for short-term vacations, specific travel events and frequent trips within a year. Its benefits and coverage can be modified to match the specific needs of travellers.
| Australia Travel Insurance Market Summary | Description | Value |
| Base Year | AUD Billion | 2023 |
| Historical period | AUD Billion | 2018-2023 |
| Forecast Period | AUD Billion | 2024-2032 |
| Market Size 2023 | AUD Billion | 10.6 |
| Market Size 2032 | AUD Billion | 15.3 |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 4.1% |
| CAGR 2024-2032 - Market by Region | Australian Capital Territory | 4.7% |
| CAGR 2024-2032 - Market by Region | Queensland | 3.7% |
| CAGR 2024-2032 - Market by Insurance Coverage | Annual Multi-trip Travel Insurance | 4.5% |
| CAGR 2024-2032 - Market by End Use | Business Travelers | 4.6% |
| Market Share by Region | New South Wales | XX% |
Increasing product innovations and customisation in travel insurance products due to evolving customer needs and preferences have expanded the Australia travel insurance market size. Insurance companies provide customizable add-on benefits in insurance products such as coverage of medical conditions, rental car insurance and pet care insurance.
Southern Cross Travel Insurance has revamped its travel care insurance policy to meet the specific needs of travel insurance customers who are pet owners and have introduced cover for additional pet care.
Australia Travel Insurance Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Insurance Coverage
Market Breakup by End Use
Market Breakup by Region
Business travellers often require specific coverage for trip cancellations, interruptions, and medical emergencies related to work-related travel. They also seek policies that include coverage for business equipment and liabilities. Family and Individual Travelers typically look for comprehensive travel insurance plans that cover a wide range of risks such as trip cancellations, medical emergencies, baggage loss, and personal liabilities during leisure travel.
| CAGR 2024-2032 - Market by | Region |
| Australian Capital Territory | 4.7% |
| Queensland | 3.7% |
| New South Wales | 3.3% |
| Victoria | XX% |
| Western Australia | XX% |
| Others | XX% |
The growth of the travel insurance market is fueled by increasing international and domestic travel creating the need for travel insurance products, companies provide customised solutions to individuals.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
Get in touch with us today for customized, data-driven solutions tailored to your unique requirements!
The market is projected to grow at a CAGR of 3.23% between 2024 and 2032.
Based on the type, the travel insurance market is bifurcated into single-trip travel insurance and annual multi-trip travel insurance.
Key players in the industry are Allianz Australia Limited, Zurich Financial Services Australia Ltd., nib Travel Services (Australia) Pty Ltd., Fast Cover Pty Ltd, AIG Australia Limited, 1Cover Pty Ltd., Australia Post Group, American Express Company, and AWP Australia Pty Ltd among others.
The different end-use in the travel insurance market include business travellers and family and individual travellers.
The market is broken down into New South Wales, Victoria, Queensland, Australian Capital Territory, and Western Australia and others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| Report Features | Details |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Insurance Coverage |
|
| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
Our step-by-step guide will help you select, purchase, and access your reports swiftly, ensuring you get the information that drives your decisions, right when you need it.
Choose the right license for your needs and access rights.
Add the report to your cart with one click and proceed to register.
Choose a payment option for a secure checkout. You will be redirected accordingly.
Pricing Plans
One User
Five Users
Unlimited Users
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
We employ meticulous research methods, blending advanced analytics and expert insights to deliver accurate, actionable industry intelligence, staying ahead of competitors.
Our skilled analysts offer unparalleled competitive advantage with detailed insights on current and emerging markets, ensuring your strategic edge.
We offer an in-depth yet simplified presentation of industry insights and analysis to meet your specific requirements effectively.
We ensure that you get unmatchable competitive advantage by providing detailed insights about the existing market scenario as well as the emerging and high growth markets.
Regions and Countries with the Highest Number of Returning Clients
Projects delivered with customization
Projects involving industry specific expertise
Analysts Support
Corporates choose us as their preferred partner
Commitment to Excellence
Diverse Teams
Innovative Solutions
Client Centric Approach
Continuous Improvement
Subscribe to our Newsletter
By subscribing you agree to with our privacy policy and provide
consent to
receive
updates
from our company.
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-120-433-0800
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City,1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
