Sep 8, 2025

Get 30% Off All Global Market Reports With Code ONLINE30 – Stay Ahead Of Trade Shifts, Macroeconomic Trends, And Industry Disruptors ” — The Business Research Company LONDON, GREATER LONDON, UNITED KINGDOM, September 8, 2025 / EINPresswire.com / -- Get 30% Off All Global Market Reports With Code ONLINE30 – Stay Ahead Of Trade Shifts, Macroeconomic Trends, And Industry Disruptors What Is The Expected Cagr For The Passenger Accident Insurance Market Through 2025? In recent times, the passenger accident insurance market has significantly expanded. The market, which is valued at $13.23 billion in 2024, is projected to increase to $14.12 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 6.7%. Factors such as increased usage of public transportation, heightened consciousness of personal safety, growing instances of cross-border travel, enhanced government commitment to public transit security, and an escalating demand for economical travel insurance have contributed to this historical growth. The future forecast predicts a noticeable spike in the passenger accident insurance market size over the coming years. The expectation is that it will swell to $18.08 billion by 2029, having grown at a compound annual growth rate (CAGR) of 6.4%. This anticipated uplift during the forecast period is due to several factors such as; increased usage of digital insurance platforms, rising demand for on-trip microinsurance, a higher rate of personalized insurance coverage adoption, a burgeoning middle-class in developing markets, and more collaborations between insurance companies and transport providers. Dominant trends predicted for the forecast period include advancements in technology that enable real-time policy issuance, innovative alterations in claims automation and fraud detection, progress in AI-facilitated risk assessment models, investments in insurance applications oriented towards mobile-first initiatives, and inventive strides in embedded insurance. Download a free sample of the passenger accident insurance market report: https://www.thebusinessresearchcompany.com/sample.aspx?id=27114&type=smp What Are The Key Factors Driving Growth In The Passenger Accident Insurance Market? Expectations are that the growing number of individuals traveling by air for business, recreation, and personal purposes, also known as air passenger traffic, will boost the development of the passenger accident insurance market . The surge in air passenger traffic can be attributed to the swift expansion of budget airlines, making air travel a more feasible option for a broader population, particularly in burgeoning markets and on local routes. Passenger accident insurance boosts travellers' confidence by offering payment for injuries or death during air travel and providing emergency assistance to promote more frequent air travel. For example, Eurostat, an EU-based statistical agency in Luxembourg, reported a noticeable increase in air travel in the EU in December 2023, with the total number of passengers hitting 820 million in 2022, a significant 119% rise compared to 2021. It's thus evident that the rising air passenger traffic is propelling the development of the passenger accident insurance market. What Are The Top Players Operating In The Passenger Accident Insurance Market? Major players in the Passenger Accident Insurance Global Market Report 2025 include: • Allianz SE • AXA S.A. • MetLife Inc. • Tokio Marine Holdings Inc. • The Progressive Corporation • Zurich Insurance Company Ltd • Chubb Limited • United Services Automobile Association (USAA) • Aviva plc • QBE Insurance Group Limited What Are The Upcoming Trends Of Passenger Accident Insurance Market In The Globe? Leading businesses in the passenger accident insurance market are innovating to develop robust solutions like travel accident protection plans. These innovations aim to extend all-inclusive coverage and fortify their market standing in the travel insurance division. A travel accident protection plan provides monetary coverage for accidental injuries, disabilities, or death while travelling. This ensures that travelers receive compensation and get help in unforeseen circumstances when on a trip. For instance, in September 2023, a reinsurance and insurance firm based in the UK, Everest Group Ltd., unveiled the Everest Business Travel Accident Insurance. This all-inclusive solution unifies insurance coverage with services related to travel, medical, and security. These are designed specifically for corporate and non-profit sector employers, their employees, and accompanying guests, during both domestic and international business journeys. The plan offers pre-departure advice, support for prescription medication, transportation to local medical practitioners, and emergency medical evacuation. Also, in a collaboration with Healix International, insured travelers are provided round-the-clock support while travelling within a country, travel monitoring, pre-journey evaluations and a comprehensive duty of care travel program that meets ISO 31-0030 standards. Comprehensive Segment-Wise Insights Into The Passenger Accident Insurance Market The passenger accident insurance market covered in this report is segmented – 1) By Policy Type: Single Trip Insurance, Annual Multi Trip Insurance, Group Insurance, Family Plan Insurance, Business Trip Insurance 2) By Coverage Type: Accidental Death Coverage, Medical Expenses Coverage, Personal Liability Insurance, Trip Cancellation Insurance, Emergency Evacuation Insurance 3) By Customer Type: Individual Travelers, Corporate Clients, Students, Senior Citizens, Adventure Travelers 4) By Distribution Channel: Direct Sales, Insurance Agents, Brokers, Travel Agencies, Mobile Applications Subsegments: 1) By Single Trip Insurance: Domestic Single Trip Coverage, International Single Trip Coverage, Short-Duration Travel Insurance, Adventure Activity Add-On Cover, One-Time Flight Accident Protection 2) By Annual Multi Trip Insurance: Frequent Flyer Accident Coverage, Regional Multi Trip Plans, Worldwide Multi Trip Protection, Unlimited Trip Duration Plans, Annual Policy With Emergency Add-Ons 3) By Group Insurance: Corporate Group Travel Accident Plans, Educational Group Travel Cover, Tour Group Insurance Policies, Non-Profit Organization Group Plans, Event-Based Group Travel Protection 4) By Family Plan Insurance: Family Flight Accident Insurance, Multi-Member Coverage Policies, Dependent Child Travel Protection, Spouse Inclusion Add-On Cover, Family Medical And Emergency Support 5) By Business Trip Insurance: Executive Travel Accident Coverage, Client Meeting Travel Protection, Conference And Seminar Travel Cover, Workforce Mobility Accident Plans, Short-Term Assignment Accident Insurance View the full passenger accident insurance market report: https://www.thebusinessresearchcompany.com/report/passenger-accident-insurance-global-market-report Global Passenger Accident Insurance Market - Regional Insights In the 2025 Global Market Report for Passenger Accident Insurance, North America held the top spot as the biggest market in 2024. It is projected that the quickest expanding region will be Asia-Pacific. Covered in the report are respective regions: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Browse Through More Reports Similar to the Global Passenger Accident Insurance Market 2025, By The Business Research Company Business Travel Accident Insurance Global Market Report 2025 https://www.thebusinessresearchcompany.com/report/business-travel-accident-insurance-global-market-report Accidental Death Insurance Global Market Report 2025 https://www.thebusinessresearchcompany.com/report/accidental-death-insurance-global-market-report Motor Insurance Global Market Report 2025 https://www.thebusinessresearchcompany.com/report/motor-insurance-global-market-report Speak With Our Expert: Saumya Sahay Americas +1 310-496-7795 Asia +44 7882 955267 & +91 8897263534 Europe +44 7882 955267 Email: saumyas@tbrc.info The Business Research Company - www.thebusinessresearchcompany.com Follow Us On: LinkedIn: https://in.linkedin.com/company/the-business-research-company Oliver Guirdham The Business Research Company info@tbrc.info Visit us on social media: LinkedIn Facebook X Legal Disclaimer: EIN Presswire provides this news content "as is" without warranty of any kind. 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