Research Methodology – Travel Insurance Market
At Straits Research, we adopt a rigorous 360° research approach that integrates both primary and secondary research methodologies. This ensures accuracy, reliability, and actionable insights for stakeholders. Our methodology for the Travel Insurance Market comprises the following key stages:
Market Indicator & Macro-Factor Analysis
Our baseline thesis for the Travel Insurance Market is developed by integrating key market indicators and macroeconomic variables. These include:
Factors considered while calculating market size and share:
- Population of frequent travellers
- The number of people purchasing travel insurance globally or regionally
- The average premium for travel insurance policies
- Different types of travel insurance policies purchased (Single Trip, Annual/Multi-Trip, Long-Stay)
- Market penetration rates
- Sales distribution channels (direct, insurance brokers, travel agencies, online portals)
- Scope of coverage offered by different insurance providers
Key Market Indicators:
- Number of outbound travellers
- Average travel insurance premium rates and prices
- World tourism statistics
- Growth rate of the travel and tourism industry
- Screenings for travel-related health issues and natural disaster trends
- Travel Behaviour and Attitude Data, including propensity to purchase travel insurance
- Economic indicators like disposable income, employment rates, etc.
Growth Trends:
- Increase in international travel due to globalization and improved standard of living
- Increasing awareness about travel insurance
- Growth of online sales of travel insurance products
- Rising prevalence of travel-related issues such as luggage loss, medical emergencies, trip cancellation etc.
- Growth of adventure tourism leading to higher risk and therefore higher insurance demand
- Increased utilisation of data analytics and artificial intelligence in insurance sector to enhance customer experience
Secondary Research
Our secondary research forms the foundation of market understanding and scope definition. We collect and analyze information from multiple reliable sources to map the overall ecosystem of the Travel Insurance Market. Key inputs include:
- Annual reports, investor presentations, SEC filings
- Company press releases and product launch announcements
- Public executive interviews and earnings calls
- Strategy briefings and M&A updates
- Country-level industry associations and trade bodies
- Government dossiers, policy frameworks, and official releases
- Whitepapers, working papers, and public R&D initiatives
- Relevant Associations for the Travel Insurance Market
- Broker reports and financial analyst coverage
- Paid databases (Hoovers, Factiva, Refinitiv, Reuters, Statista, etc.)
- Import/export trade data and tariff databases
- Sector-specific journals, magazines, and news portals
- Global macroeconomic indicators and their cascading effect on the industry
- Demand–supply outlook and value chain analysis
- Consumer behaviour, adoption rates, and commercialization trends
Primary Research
To validate and enrich our secondary findings, we conduct extensive primary research with industry stakeholders across the value chain. This ensures we capture both qualitative insights and quantitative validation. Our primary research includes:
- Key Opinion Leader (KOL) Engagements
- Structured interviews with executives, product managers, and domain experts
- Paid and barter-based interviews across manufacturers, distributors, and end-users
- Discussions with stakeholders to validate demand-supply gaps
- Group discussions on emerging technologies, regulatory shifts, and adoption barriers
- Cross-verification of market sizing and forecasts with industry insiders
- Capturing business perspectives on growth opportunities and restraints
Data Triangulation & Forecasting
The final step of our research involves data triangulation ensuring accuracy through cross-verification of:
- Demand-side analysis (consumption patterns, adoption trends, customer spending)
- Supply-side analysis (production, capacity, distribution, and market availability)
- Macroeconomic & microeconomic impact factors
- Time-series analysis
- Regression and correlation studies
- Baseline modeling
- Expert validation at each stage
Outcome
The outcome is a comprehensive and validated market model that captures:
- Market sizing (historical, current, forecast)
- Growth drivers and restraints
- Opportunity mapping and investment hotspots
- Competitive positioning and strategic insights
Available for purchase with detailed segment data, forecasts, and regional insights.
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