What is Extreme Sports Travel Insurance?
Extreme sports travel insurance coverage, also known as hazardous sports or extreme sports coverage, is an optional upgrade to some Arch Roam Right plans that cover incident that may occur while participating in hazardous sports. Most travel insurance policies are created with travelers' travel and medical needs in mind. However, due to the popularity of water sports, many travel insurance companies are including extreme and common water sports coverage, allowing adventurers to participate without fear of accidents or injuries. If you want to include water sports in your coverage, you must pay an additional fee because not all policies cover water sports. If your chosen sport is not covered by your policy, you are not covered in the event of an injury or accident while participating in that sport. Winter sports travel insurance policies cover a wide range of activities with varying levels of danger. However, many sports may not be covered by insurance policies. For example, while skiing can be included in many policies, ice climbing is less common.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Zurich Insurance Group (Switzerland), ACE & Chubb (Switzerland), MetLife (United States), Allianz SE (Germany), American International Group (United States), Sompo Japan Insurance (Japan), CSA Travel Protection (United States), Axa (France), Munich Re (Germany) and Assicurazioni Generali (Italy) |
The study covers a detailed analysis segmented by key business segments i.e. by type (Domestic Travel Insurance, International Travel Insurance, Group Travel Insurance and Single Travel Insurance) , by application (Insurance Intermediaries, Insurance Company, Banks and Insurance Broker) and major geographies. Research Analyst at AMA predicts that United States & Germans Players will contribute to the maximum growth of Global Extreme Sports Travel Insurance market throughout the predicted period.
The competition is expected to become even more intense in the years to come due to the entry of several new players in the market. To help clients improve their revenue shares in the market, this research study provides an in-depth analysis of the markets competitive landscape and offers information on the products offered by various leading companies. Additionally, this Extreme Sports Travel Insurance market report suggests strategies that Players can follow and highlights key areas they should focus on, in order to take maximum benefits of growth opportunities.
The report offers several leading Players, some of them are Zurich Insurance Group (Switzerland), ACE & Chubb (Switzerland), MetLife (United States), Allianz SE (Germany), American International Group (United States), Sompo Japan Insurance (Japan), CSA Travel Protection (United States), Axa (France), Munich Re (Germany) and Assicurazioni Generali (Italy).
Market Overview:
On 11th May 2022, ICICI Lombard General Insurance Company realized the benefits of the Bharti Axa acquisition sooner than expected but has chosen to invest the savings in the company's health and digital infrastructure.
All such activities must be carried out in strict accordance with the applicable governing body or authority's rules, regulations, and guidelines. Certain sports activities are never covered, whether you purchase the Adventure Sports Rider or not. Please keep in mind that this is only a summary of adventure sports and their exclusions.
The global market is extremely competitive, with a small number of providers competing against one another. The fierce competition, shifting consumer spending patterns, demographic trends, and frequent shifts in consumer preferences all present significant opportunities for market growth.
Influencing Trend:
Increasing Distribution Channels Such As Banks, Insurance Brokers, Aggregator and Others and Emphasizing on Online Platform to Sell Extreme Sports Travel Insurance
Market Growth Drivers:
Rising Awareness among Millennials to Secure Their Adventure Sports Travel Insurance and Investors Collaborating With Insurance Firms
Challenges:
Lack of Awareness in Middle Income Group People and Lack of Cross-Platform Operations of Some Types of Insurance
Restraints:
Lack of Transparency Associated With Insurance Policies and Issues Related To Claim Extreme Sports Travel Insurance
Opportunities:
Technological Developments in the Insurance Industry and Government Initiatives to Improve Travel Rule and Regulation
Key highlights of the Global Extreme Sports Travel Insurance market Study:
CAGR of the market during the forecast period 2021-2027
In-depth information on growth factors that will accelerate the Extreme Sports Travel Insurance market in next few years.
Detailed Insights on futuristic trends and changing consumer behavior
Forecast of the Global Extreme Sports Travel Insurance market size and its contribution to the parent market by type, application and by country.
A broad view of customer demand
Uncover markets competitive landscape and in-depth information on various Players
Comprehensive information about factors that will challenge the growth of Extreme Sports Travel Insurance Players
Transformation and Important Triggers:
Business transformation has taken hold across the broad corporate landscape due to the confluence of several important triggers, including:
A tipping point in globalization
A major slowdown in Western economies
Significant shifts in technology and cost structure
The challenges of regulatory compliance
New forms of competition developing
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Extreme Sports Travel Insurance market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, and SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Extreme Sports Travel Insurance market.
In order to make a priority list sorting is done based on revenue generated based on the latest reporting, using paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment> by targeting key target audience that includes New Entrants/Investors, Analysts and Strategic Business Planners, Extreme Sports Travel Insurance Distributors and Suppliers, Research Organizations and Consulting Companies, Government Bodies, End-Users and Others.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases, etc.