The 2025 Travel Insurance Barometer: United States Market Trends
The global travel insurance market in 2025 is undergoing a powerful expansion to an estimated $105.6 billion, fueled by a post-pandemic surge in travel and heightened risk awareness, with the United States market leading this trend as it grows to $7.71 billion, reflecting a significant 40% traveler penetration rate that nearly doubles the global average and underscores a fundamental shift in how Americans approach travel security.
The travel insurance market in 2025: overview and key numbers in the United States and in the world
Travel insurance penetration rate: How does the US rank in the world?
The travel insurance penetration rate measures the percentage of outbound travelers who purchase insurance, serving as a key indicator of market maturity and consumer risk awareness. In the US, this rate has seen a significant cultural shift, reflecting a growing understanding of the financial risks associated with international travel. This metric not only highlights market size but also signals potential growth opportunities for insurers.
The penetration rate in the US is estimated at 40% for 2025, a substantial increase from approximately 28% in the pre-pandemic era. This post-COVID surge underscores a fundamental change in traveler mindset, with health and cancellation risks now being primary considerations.
However, the US market still lags behind other developed nations like the United Kingdom, where the penetration rate is a staggering 78%, or neighboring Canada at 41%. This gap suggests a cultural difference in how travel risk is perceived and managed, with many European markets viewing insurance as a standard travel component.
Despite this, the rate in the US is well above the global average of 22%, indicating a relatively mature market with significant room for further expansion. Projections suggest the penetration rate in the US could reach 50% by 2030, driven by the rise of embedded insurance in travel booking platforms, innovative products from insurtechs, and a sustained high level of risk perception among consumers.
Travel Insurance Coverage Rate in the US and worldwide
Impact of the Pandemic on the US Travel Insurance Market
The pandemic acted as a powerful catalyst for the travel insurance market in the US. As outbound travel rebounded to 95% of 2019 levels by 2024, it was accompanied by a profound shift in consumer risk awareness. The experience of widespread disruptions and health concerns directly fueled a surge in demand for protection, pushing the insurance penetration rate from approximately 28% pre-pandemic to 40% by 2025. This evolution signifies a lasting change in traveler behavior, with insurance now viewed as an essential component of trip planning rather than an optional add-on.
Travel Insurance Subscriptions: Premiums and How to Subscribe
The average premium paid by a traveler is a key indicator of market dynamics, reflecting trip costs, perceived risks, and the pricing strategies of insurers. For the United States, this metric reveals a market characterized by higher-value trips and comprehensive coverage demands. Understanding this figure is essential for benchmarking against other mature travel insurance markets globally.
A comparison of average travel insurance premiums per policy across key markets in 2025.
- Sources: MarketWatch, Forbes, and national industry reports.
In 2025, the average premium per policy in the United States stands at $204, placing it at the higher end of the spectrum when compared to other Western markets.
This elevated premium is driven by several factors, including longer average trip durations, higher overall trip costs, and a strong consumer preference for policies with high coverage limits, particularly for medical expenses and trip cancellation (often exceeding $10,000).
In contrast, markets like the United Kingdom (£38) exhibit significantly lower average premiums, a reflection of shorter-duration trips (often within Europe) and a highly competitive price-comparison platform landscape.
The premium in the US typically aligns with the industry benchmark of 4-6% of the total trip cost, indicating that while the percentage is standard, the absolute cost of travel undertaken by Americans is substantially higher, thus driving up the insurance premium.
The distribution mix between bundled and direct sales is a critical indicator of consumer purchasing habits and the strategic focus of insurers. In the United States, the trend clearly favors integrated, point-of-sale offers, reflecting a market driven by convenience. This dynamic shapes how insurers partner with the broader travel industry to reach customers.
| Distribution Channel | Market Share in the US (2025) |
|---|---|
| Bundled with Trips/Flights | 55% |
| Direct Subscription (Insurer/Agent) | 30% |
| Other Channels | 15% |
*Source: Mordor Intelligence, GlobeNewswire*
The distribution landscape in the United States is dominated by embedded insurance, with 55% of policies sold as part of a travel package or flight booking. This high share is fueled by the seamless integration of insurance offers by major Online Travel Agencies (OTAs), airlines, and cruise lines at the digital checkout. For many American consumers, the convenience of a one-click purchase outweighs the process of seeking a standalone policy.
Conversely, the 30% share for direct subscriptions represents a more discerning segment of the market. These are typically experienced travelers, seniors, or those with specific needs who use comparison websites or go directly to insurers to find more comprehensive or specialized coverage. This split highlights a market where point-of-sale convenience is the primary driver for the mass market, while a significant niche actively researches and selects tailored insurance solutions.
The digitalization of the travel industry has fundamentally reshaped consumer purchasing habits, and insurance is no exception. In the United States, online channels have become the undisputed primary marketplace for travel policies. This shift reflects broader consumer preferences for convenience, comparison, and immediate access.
- Digital Share of Subscriptions (2025): 75% of all travel insurance policies in the US are purchased online.
- Forecast for 2030: This figure is projected to rise to 90%.
*Source: Mordor Intelligence, GlobeNewswire*
The dominance of digital channels in the US travel insurance market is a clear indicator of its maturity. A staggering 75% of policies are now purchased online, driven by the seamless integration of insurance offers within Online Travel Agency (OTA) booking paths, airline websites, and direct-to-consumer platforms. Consumers have grown accustomed to the ease of adding a policy with a single click during checkout or comparing options on aggregator sites like Squaremouth and InsureMyTrip.
Looking ahead, the forecast of 90% digital share by 2030 suggests that offline channels, such as traditional travel agents, will cater to an increasingly niche segment. For insurers, this underscores the critical importance of a robust digital strategy, focusing on user experience, API-driven partnerships, and mobile-first solutions to capture and retain the modern traveler.
Travel insurance claims in the US: frequency, types, and credit card share
Analyzing claim frequency and average amounts provides a clear picture of the primary risks faced by travelers from the US. This data is essential for insurers in product design and pricing, and for consumers in understanding the true value of their coverage. The distribution of claims highlights a clear hierarchy of travel-related risks, from frequent but manageable issues to rare but financially catastrophic events.
| Claim Type | Frequency (% of all claims) | Average Claim Amount |
|---|---|---|
| Trip Cancellation | 38% | $2,800 |
| Medical Expenses | 32% | $1,900 |
| Baggage Loss/Damage | 18% | $600 |
| Repatriation | 4% | $12,000 |
The claims landscape in the US is dominated by trip cancellation, which accounts for 38% of all claims and carries a substantial average cost of $2,800. This underscores the significant upfront financial investment American travelers make in their trips and the importance of protecting non-refundable deposits.
Medical expenses follow closely in frequency (32%), with an average claim of $1,900, reflecting the high cost of healthcare abroad and the critical need for robust medical coverage.
While baggage issues are relatively common (18% of claims), they represent the lowest financial impact at an average of $600.
Conversely, repatriation is the rarest type of claim at just 4%, but its staggering average cost of $12,000 highlights its role as a high-severity, low-frequency event that makes insurance indispensable. This data clearly maps the risk priorities for travelers from the US.
Credit card insurance plays a significant, though often secondary, role in the travel protection ecosystem in the US. Understanding its market share and its contribution to total claims is crucial for assessing how American travelers perceive and utilize this built-in benefit compared to comprehensive, standalone policies.
| Type of insurance | Share of travel insurance claims |
|---|---|
| Credit Card Insurance | 22% |
| Standalone Policies | 78% |
- Sources: Squaremouth, Insurer Data, Industry Estimates.
The data reveals a notable alignment: in the US, credit card insurance accounts for 22% of the market by preference and exactly 22% of all travel-related claims.
This symmetry suggests that while standalone policies dominate the market, the coverage offered by credit cards is not merely a passive perk but is actively used by consumers for claims at a rate proportional to its market share.
However, the fact that standalone policies are responsible for 78% of claims underscores their indispensable role in covering more significant or complex losses.
Travelers often rely on dedicated policies for higher-risk scenarios, such as major medical emergencies or costly trip cancellations, where the limited coverage of credit cards may prove insufficient.
Therefore, credit card insurance serves as a foundational layer of protection for many, but the demand for robust, comprehensive coverage continues to drive the standalone policy market in the US.
Preferred Travel Insurance Types, Destinations, and Profiles in the US
The US travel insurance market is distinctly shaped by consumer preferences, where single-trip policies for European destinations are the norm, primarily purchased by families and seniors. This analysis delves into the key policy formats, insured destinations, and traveler profiles that define demand in 2025.
The types of travel insurance coverage in the US
In the US, travel insurance preferences are heavily influenced by the high potential costs of unforeseen events, particularly medical emergencies and significant trip disruptions. The typical coverage structure reflects a consumer focus on mitigating major financial risks, with a growing demand for ancillary benefits that enhance the travel experience.
| Coverage Type | Details and Common Limits in the US (2025) |
|---|---|
| Medical Coverage | Limits: Typically between $100,000 and $500,000. Deductibles: Often low, ranging from $0 to $250. |
| Trip Cancellation | Maximum Reimbursement: Generally between $10,000 and $20,000 per person. |
| Baggage & Personal Effects | Limits: Coverage ranges from $1,000 to $2,500. Common Exclusions: High-value electronics, jewelry, and cash are often excluded. |
| Other Key Coverages | Liability: $100,000 to $1M. Assistance: 24/7 support is standard. Flight Delay: Compensation typically from $100 to $1,000. Teleconsultation: Offered in approximately 30% of plans. |
Deductibles: Often low, ranging from $0 to $250.
Common Exclusions: High-value electronics, jewelry, and cash are often excluded.
Assistance: 24/7 support is standard.
Flight Delay: Compensation typically from $100 to $1,000.
Teleconsultation: Offered in approximately 30% of plans.
*Source: Policy Terms & Conditions from major insurers, NerdWallet (2025).*
The coverage structure in the US travel insurance market clearly prioritizes protection against catastrophic financial loss.
The high limits for medical coverage are a direct response to the exorbitant cost of healthcare both domestically for visitors and for Americans traveling abroad, making it the primary driver for purchasing a policy.
Similarly, robust trip cancellation coverage, often reaching up to $20,000, caters to the significant upfront investments made in international flights and tours.
While baggage coverage is more modest, it addresses a common and tangible concern for travelers.
The increasing inclusion of services like teleconsultation signals a market shift towards not just financial protection but also providing practical, on-the-go assistance and convenience.
What are the preferred travel insurance types in the US?
The purchasing habits of American travelers reveal a clear preference for situational, trip-specific coverage, though reliance on bundled benefits and annual plans is significant. This segmentation underscores the diverse needs of the US market, from the occasional vacationer to the frequent globetrotter.
| Insurance Format | Market Share in the US (2025) |
|---|---|
| Single-Trip Policies | 60% |
| Credit Card Insurance | 22% |
| Annual Multi-Trip Policies | 18% |
The 60% market share of single-trip policies in the US underscores a purchasing model tied to specific, high-value trips where the risk is most palpable for consumers.
This dominance is heavily supported by the seamless integration of insurance offers at the point of sale by airlines and online travel agencies.
Credit card insurance, holding a 22% share, acts as a default layer of protection for many, prized for its convenience but often providing less comprehensive coverage than standalone options.
Annual policies, at 18%, cater to a strategic niche of frequent business and leisure travelers who value cost efficiency and the simplicity of "set it and forget it" coverage.
This distribution reveals a market divided between convenience-driven choices and deliberate, risk-assessed purchases.
The profile types most covered by travel insurance in the US
The travel insurance market in the US is heavily influenced by distinct demographic segments, each with unique travel patterns and risk considerations. Understanding which profiles are most frequently covered is key to grasping the core drivers of demand for comprehensive travel protection.
| Traveler Profile | Share of Covered Travelers in the US (2025) |
|---|---|
| Families with children | 34% |
| Seniors (65+) | 28% |
| Frequent business travelers | 18% |
| Digital nomads | 6% |
*Source: US insurer data (2025).*
The data reveals that families and seniors are the dominant consumer groups in the US travel insurance market.
Families with children (34%) represent the largest segment, driven by the high financial stakes of annual vacations and a heightened sense of responsibility for their children's well-being abroad.
Seniors (28%) follow closely, a demographic that is highly risk-averse due to greater health concerns and the higher likelihood of needing medical assistance while traveling.
For this group, robust medical coverage is often non-negotiable.
Frequent business travelers constitute a stable 18% of the market, typically covered through corporate plans or annual policies that offer convenience and value for multiple trips.
The emerging segment of digital nomads, though smaller at 6%, signals a growing need for long-term, flexible policies that cater to a work-from-anywhere lifestyle, a trend insurers are increasingly targeting with specialized products.
What are the most subscribed types of travel insurance coverage in the US?
The choice of destination significantly influences the decision to purchase travel insurance for travelers from the US. The data reveals that long-haul trips, regions with high medical costs, and countries with specific entry requirements are the primary drivers for insurance uptake.
- Europe (Schengen Area): A top destination, partly due to mandatory insurance requirements for certain visa applicants and the high cost of international travel.
- United Kingdom: Popular for tourism and business, with travelers seeking protection against trip cancellation and potential medical expenses.
- Australia: A long-haul destination where the high cost of the trip and medical care make insurance a prudent choice.
- Japan: Another high-value, long-distance trip where travelers look to protect their investment and cover potential medical needs.
- United States (for inbound travelers): Notably, the US itself is a highly insured destination for international visitors, driven by its notoriously expensive healthcare system.
This pattern of insured destinations highlights a sophisticated risk assessment by American travelers.
The prevalence of European destinations is linked not only to their popularity but also to the Schengen visa's insurance mandate, which institutionalizes the need for cover.
For long-haul destinations like Australia and Japan, the significant upfront cost of flights and accommodation makes trip cancellation coverage a primary motivator.
Furthermore, the high cost of healthcare in developed nations like the UK and Australia reinforces the value of robust medical coverage.
The fact that the US is a top insured destination for inbound travelers serves as a powerful domestic reminder of why medical coverage is a critical component of travel insurance.
What are the average travel insurance claim amounts in the US?
The average claim amount provides a clear financial justification for travel insurance, illustrating the potential costs travelers face from unexpected events. In the US, these figures vary significantly by claim type, highlighting the diverse risks covered by a comprehensive policy.
| Type of Claim | Average Amount Reported in the US (2025) |
|---|---|
| Repatriation | $12,000 |
| Trip Cancellation | $2,800 |
| Medical Expenses | $1,900 |
| Baggage Loss/Damage | $600 |
The data reveals the substantial financial protection offered by travel insurance in the US.
Repatriation stands out with an average claim of $12,000, representing the high cost of emergency medical transport back home, a critical but often overlooked benefit.
Trip cancellation, the most frequent claim, averages $2,800, reflecting the significant upfront investment US travelers make in international flights and accommodation.
The average medical expense claim of $1,900 underscores the cost of seeking even moderate healthcare abroad, while baggage claims at $600 cover the more common but less severe inconvenience of lost or damaged items.
These figures demonstrate that even a single claim can easily exceed the cost of a premium, validating insurance as an essential component of travel planning.
Understanding the Travel Insurance Structure: Offerings, Pricing, and Market Fragmentation
The travel insurance supply landscape in the US is a dynamic and competitive environment, shaped by the presence of global insurance powerhouses, specialized travel insurers, and a growing cohort of agile insurtechs. This supply-side structure dictates product availability, pricing, and the overall customer experience for American travelers. A deep dive into its key components reveals a market that is both mature and ripe for innovation.
The travel insurance market in the US is led by a mix of specialized providers and global insurance giants, each carving out a niche with distinct product strategies.
| Rank | Insurer | Market Share | Notable Features |
|---|---|---|---|
| 1 | Travelex | 14% | Strong all-around and family-focused coverage |
| 2 | Allianz | 13% | Excellent for business travel with a vast global network |
| 3 | AIG Travel Guard | 11% | Known for flexible plans and extensive add-on options |
| 4 | Nationwide | 8% | Offers strong value with broad, comprehensive policies |
| 5 | Seven Corners | 7% | Specializes in customizable plans with robust medical coverage |
*Source: Money.com, US News, 2025.*
The competitive landscape in the US is characterized by a few key leaders who command significant brand recognition and market share. However, the fact that the top five players collectively hold just over half the market (53%) indicates a healthy level of competition. This structure allows for both the stability provided by large, established insurers like Allianz and AIG, and the specialized innovation brought by focused players like Travelex and Seven Corners, creating a balanced and diverse market for consumers.
Understanding the competitive landscape is key to assessing market dynamics. The market in the US exhibits moderate concentration, suggesting a balance between established leaders and a healthy number of challengers.
- Market Structure: Moderately concentrated
- Number of Providers: Over 40 active insurers
- Top 5 Market Share: Approximately 53%
- Herfindahl-Hirschman Index (HHI): Estimated between 1,000 and 1,200
*Source: IBISWorld, Mordor Intelligence, 2025.*
With an HHI score in the moderate range and over 40 active providers, the market in the US is far from a monopoly. This environment fosters competition on price, coverage, and service. While consolidation is a persistent trend in the broader insurance industry, the travel sector continues to see new entrants, particularly from the insurtech space. This prevents the market from becoming overly dominated by a few players and ensures that innovation remains a key competitive differentiator.
Insurers in the US cater to a diverse range of traveler needs with a tiered product structure, from basic safety nets to comprehensive, premium packages.
- Medical-only packs: These plans offer essential emergency medical and evacuation coverage. They are typically marketed to budget-conscious travelers or those who already have trip cancellation protection through their credit cards.
- Multi-risk packages: This is the most common type of policy, bundling medical coverage with trip cancellation, interruption, baggage loss, and travel delays. These comprehensive plans are the standard offering for families and leisure travelers.
- Premium international plans: Designed for expensive or complex trips, these policies feature high coverage limits (e.g., for medical expenses and cancellation), and often include add-ons like "cancel for any reason" (CFAR) coverage and adventure sports protection.
The product landscape in the US is clearly segmented to match different risk appetites and trip types. Pricing is typically scaled based on the level of coverage, traveler's age, and trip cost. This tiered approach allows insurers to capture a wide customer base, from young backpackers needing basic medical coverage to affluent travelers seeking to protect a significant financial investment in their trip.
The influence of technology is increasingly visible, with several specialized insurtechs making their mark on the US travel insurance scene.
- Notable Insurtechs: Faye, Battleface, SafetyWing
- Key Innovations:
- Customer Experience: Fully digital platforms for purchasing, managing policies, and filing claims via user-friendly apps.
- Flexible Coverage: Policies tailored to specific needs, such as coverage for digital nomads (SafetyWing) or adventure travel (Battleface).
- Claims Automation: Use of technology for instant claim processing and payouts, particularly for common issues like flight delays.
Insurtechs are playing a crucial role in modernizing the travel insurance market in the US. While they may not have the market share of the established leaders, they are setting new standards for customer experience and product flexibility. Their digital-first approach and focus on niche segments are forcing traditional insurers to accelerate their own digital transformation efforts, leading to industry-wide improvements in service and product design. Many operate on a direct-to-consumer (B2C) basis, while others partner with travel providers to offer embedded insurance solutions.
Pricing strategies in the US travel insurance market are evolving from traditional models to more sophisticated, data-driven approaches.
- Flat-rate pricing: Still common for simpler single-trip or annual policies, where the price is determined by a few basic factors like destination region and duration.
- Dynamic pricing: Increasingly adopted, this model uses multiple variables—such as traveler age, exact destination, trip length, trip cost, and selected coverage levels—to calculate a more precise, risk-adjusted premium.
The clear trend in the US is towards dynamic pricing. As insurers gather more data and refine their underwriting algorithms, they can offer more personalized and competitive rates. This shift benefits both insurers, by allowing for more accurate risk management, and consumers, who receive a price that better reflects their specific travel profile. Insurtechs have been at the forefront of this trend, leveraging technology to make dynamic pricing the norm for their offerings.
The primary distribution channel for travel insurance in the US is through integration with travel providers, making it a seamless part of the booking process.
- Share of Distribution: 55% of policies are sold via Online Travel Agencies (OTAs), airlines, and tour operators.
- Key Partnerships: Major travel platforms like Expedia and Booking.com, as well as nearly all major airlines, have well-established partnerships with insurers to offer coverage at the point of sale.
The dominance of the embedded insurance model highlights the importance of strategic partnerships in the US market. For consumers, the convenience of purchasing insurance in the same transaction as their flight or hotel is a major advantage. For insurers, these partnerships provide access to a massive volume of customers at the exact moment they are considering travel risks. This deep integration makes the travel distribution channel the most critical battleground for market share.
For consumers who prefer to shop for insurance separately, a robust ecosystem of comparison platforms and technology-driven tools exists in the US.
- Main Aggregators: Squaremouth, InsureMyTrip, and TravelInsurance.com are the leading comparison websites, allowing users to compare quotes and policies from dozens of providers.
- API-driven Solutions: Application Programming Interfaces (APIs) are widely used by both aggregators and travel partners (OTAs, fintech apps) to seamlessly integrate insurance offers into their platforms.
Comparison platforms have empowered consumers in the US by increasing transparency and driving competition on price and features. They serve as a vital independent channel for travelers who want to research their options thoroughly. The underlying technology, particularly the use of APIs, is enabling a more connected insurance ecosystem where policies can be easily distributed and embedded across a wide range of digital platforms, from travel booking sites to personal finance apps.
Methodology and Sources
Methodology of the 2025 Global Travel Insurance Barometer
The 2025 Global Travel Insurance Barometer is the result of a comprehensive, multi-faceted research process designed to provide a reliable, transparent, and comparable analysis of the travel insurance landscape across key global markets. This methodology outlines the scope, data collection and processing techniques, and validation measures employed to ensure the credibility and accuracy of the findings presented.
1. Geographic Scope This study encompasses 35 countries, selected to provide a representative view of the global travel insurance market. The selection criteria included market size, regional significance, varying levels of market maturity, and the availability of reliable data. The countries included are: Argentina, Australia, Austria, Belgium, Brazil, Canada, China, Czech Republic, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Italy, Japan, Luxembourg, Malaysia, Mexico, Morocco, Netherlands, New Zealand, Philippines, Portugal, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, United Arab Emirates, the United Kingdom, and the United States.
2. Timeframe The primary reference year for all key indicators in this barometer is 2025. To provide context and identify trends, historical data from 2015 to 2025 has been included where available. Furthermore, forward-looking forecasts extending to 2030 are provided to offer insights into future market dynamics. It should be noted that for certain indicators, the most recent publicly available data may date from 2023 or 2024. In such cases, these figures were used as a baseline for statistical projections and modeling to generate accurate 2025 estimates.
3. Sources Used This barometer is built upon a multi-source data collection strategy, prioritizing official, public, and cross-validated information to ensure the highest degree of reliability. Estimations are used only when direct data is unavailable and are explicitly labeled as such. The primary categories of sources include:
- National and International Statistical Agencies: Macroeconomic and travel data from organizations such as the OECD, the World Bank, the UN World Tourism Organization (UNWTO), and the World Health Organization (WHO).
- Industry Associations and Insurance Regulators: Market-specific data, reports, and statistics from national and regional insurance bodies. Key sources include France Assureurs, Ifop, the Association of British Insurers (ABI), Gesamtverband der Deutschen Versicherungswirtschaft (GDV), Associazione Nazionale fra le Imprese Assicuratrici (ANIA), UNESPA, the Swiss Insurance Association, the U.S. Travel Insurance Association (UStiA), Insurance Europe, the National Association of Insurance Commissioners (NAIC), Superintendência de Seguros Privados (Susep), the Canadian Life and Health Insurance Association (CLHIA), Insurance Ireland, Insurance Sweden, the Insurance Council of New Zealand, the Hong Kong Insurance Authority, the Insurance Regulatory and Development Authority of India (IRDAI), the Mexican Association of Insurance Institutions (AMIS), Autorité de Contrôle des Assurances et de la Prévoyance Sociale (ACAPS), Associação Portuguesa de Seguradores (APS), the Monetary Authority of Singapore (MAS), the Insurance Association of Vietnam, the South African Insurance Association (SAIA), and other national federations.
- Market Research and Consulting Reports: In-depth analyses from specialized firms such as IBISWorld, Finaccord, Mordor Intelligence, and Grand View Research.
- Public Financial Disclosures: Annual reports, investor presentations, and regulatory filings from publicly listed insurers and reinsurers.
- Digital Platforms and Insurtech Studies: Data and insights from major Online Travel Agencies (OTAs), comparison platforms like Squaremouth, and specialized insurtechs such as Cover Genius.
- Consumer Surveys and Reputable Media: Findings from consumer behavior studies and reports from major financial and industry-specific press outlets.
4. Data Modeling & Estimations To ensure consistency and comparability across all 35 markets, a standardized data processing approach was implemented. Where direct data for a specific indicator was unavailable, particularly for metrics like market share or claim frequencies in certain countries, estimations were derived using established modeling techniques. For instance, when direct figures were missing for the United States, regional averages or extrapolations based on its market size and known insurance penetration rates were used to create a reliable estimate. Claims data were often averaged across multiple years to mitigate the impact of annual volatility. All financial figures, such as premiums and gross written premium (GWP), were converted to a common currency (USD or EUR) using the International Monetary Fund's reference exchange rates for 2025. Projections to 2030 were calculated based on Compound Annual Growth Rate (CAGR) assumptions derived from historical growth, current market dynamics, and analyst consensus.
5. Scope of Indicators The barometer is structured to provide a holistic view of each market by analyzing both supply-side and demand-side indicators. The supply-side analysis covers the competitive landscape, key insurers, product offerings, market structure, and technological innovations. The demand-side analysis focuses on consumer behavior, penetration rates, claim patterns, and the adoption of digital channels. Each section was designed to enable direct cross-country comparison while carefully preserving the unique local specificities of each market, including its legal environment, typical product formats, and cultural habits. This dual approach ensures that the barometer serves as both a global benchmark and a practical guide to the nuances of individual national markets.
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