About the market…

“Over the last year, the travel insurance market has experienced a number of significant changes. Some large accounts have changed hands, new account relationships have been established with independent retailers and the market share of most players has changed due to a few established providers partially withdrawing from the business.

Annual multi-trip cover has grown in popularity and single-trip sales have suffered because of this. As the proportion of sales alters, the distribution pattern of travel insurance is also changing and consumers are increasingly purchasing cover from a variety of non-traditional sources.

The purchasing behaviour of travellers continues to change and people’s attitudes towards Internet purchasing are changing, becoming a new channel of cover sales. Mintel’s findings show how the industry has responded to these changes and estimates current market share.”

About Mintel’s report…

Using the latest consumer research, market size data and trend analysis, Mintel’s report offers you vital new insight into the current state of the market, its prospects and the attitudes of key target audiences. You can use Mintel’s market research to:

- Build consumer-focused marketing strategies to maximise sales throughout travel insurance sectors

- Discover new ways of tempting key target groups towards high-price points.

- Measure market sizes and assess the scope for new player and product entrants

- Create realistic sales strategies based on market forecasts and insight into market drivers.

Intriguing findings include…

Some 20% of people said that they would consider purchasing cover via the Internet if they received a money-off incentive

Since 2000, demand for independent holidays has risen by a remarkable 38%

60% of travel insurance purchased still comprises a one-off policy to cover a single trip, although annual policies continue to grow in popularity