Welcome!

News Feed Item

Travel Insurance and Assistance in China

NEW YORK, Jan. 28, 2014 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:

Travel Insurance and Assistance in China

http://www.reportlinker.com/p01142088/Travel-Insurance-and-Assistance-in-China.html#utm_source=prnewswire&utm_medium=pr&utm_campaign=Travel_Services

Finaccord's report titled Travel Insurance and Assistance in China is about the current status and likely future development of the market for stand-alone travel insurance policies in China. It includes the following unique features:

- data spanning 2008 to 2012 for the underlying travel market with segmentations by type of journey (between holiday and business trips) and by destination country;

- data for the size of the market for stand-alone travel insurance and assistance in China between 2008 and 2012 in terms of premiums and policies, with a segmentation between single-trip and annual cover;

- analyses of the share of distribution relationships of travel insurance providers split between travel trade, transportation and financial organisations, based on a primary survey of over 200 actual and potential distributors of stand-alone travel policies;

- a review of other direct and affinity distribution channels used in China, including cover packaged with payment cards and bank accounts as well as automotive clubs, direct sales, online aggregators and brokers, other online brands and retailers;

- forecasts to 2016 for both the underlying travel market and for the size of the market for stand-alone travel insurance and assistance in terms of premiums and policies, with the same segmentations as those specified above for the period from 2008 to 2012.

The report is accompanied by an Excel PartnerBASE™ dataset that details the travel insurance partnerships of each of the travel trade, transportation and financial organisations covered, plus a convenient market data annexe, also in Excel format. This annexe can be used as a convenient source of data already in Excel format which means that there is no need for users to re-enter data from the PDF report into their own Excel worksheets.

TABLE OF CONTENTS

0.0 EXECUTIVE SUMMARY 1

1.0 INTRODUCTION 3

What is this report about? 3
Rationale 3
This report updates and expands upon Finaccord's previous ground-breaking research 3
Methodology 3
Primary research 3
The survey includes more than 200 travel trade, transportation and financial organisations… 3
…and draws on a separate analysis of travel benefits linked to banking products 4
Market data 4
External sources 4
Travel insurance and assistance: how it all fits together 5
The term 'travel insurance' can refer to protection from a heterogeneous range of risks… 5
.and assistance companies play a fundamental role in the global travel insurance industry 5
Definitions 6
Terms and abbreviations 6
Types of packaged travel insurance and assistance 6
Operating models 7
Currencies, exchange rates and inflation 7
PartnerBASE and market data annexe 8
Finaccord 8

2.0 MARKET ANALYSIS 10

Introduction 10
Underlying foreign travel market 10
The number of foreign trips undertaken for leisure purposes grew at 17.5% per annum up to 2012 10
Three destinations account for over a half of China's outbound traffic 12
Market for travel insurance and assistance 12
In real terms, China's travel insurance market is growing at more than 20% per year… 12
…although it remains dominated by single-trip policies 12
Distribution through travel trade, transportation and financial organisations 14
Summary of organisations researched 14
Provision rates 15
More than 90% of travel agents and tour operators sell travel insurance. 15
.whereas availability from airlines and banks is significantly lower 15
Operating models 16
The vast majority of distributors choose to partner with a single, external underwriter. 16
.although captive and joint venture underwriters, plus one broker, are also active here 16
Competitor share of partnerships 18
Leading providers in the travel trade distribution channel include CPIC, PICC and Ping An. 18
.albeit Finaccord's research identifies a total of 18 providers as being active in this area. 19
.including joint venture CITIC-Prudential Life Insurance and one broker 19
AIG and Ping An each hold significant travel insurance partnerships with airlines. 20
. with the latter also a key provider to financial organisations. 21
. as are CIGNA & CMC Life and Taiping General 21
Travel insurance and assistance linked to payment cards and bank accounts 22
Around half of China's credit card products feature one or more forms of travel cover. 23
…with penetration generally stronger among premium cards 23
Other distribution channels 24
Automotive clubs 24
Automotive Alliance China collaborates with a number of travel insurance underwriters. 24
Direct distribution by insurance underwriters 25
Most of the leading insurers sell travel policies directly to consumers 25
Online aggregators and brokers 25
Several well-known insurance aggregators compare travel policies 25
Other online brands 25
Retailers 25
Just one retail brand has begun selling travel cover to its customers 25
Other types of distributor 25
Forecasts 26
Underlying foreign travel market 26
The number of foreign holiday trips is expected to exceed 135 million by 2016. 26
Market for travel insurance and assistance 27
.causing the volume of stand-alone travel policies sold to continue climbing rapidly 27

LIST OF GRAPHICS / TABLES

0.0 EXECUTIVE SUMMARY 1

Key market data for travel insurance and assistance in China, 2008, 2012 and 2016 2

1.0 INTRODUCTION 3

Travel insurance and assistance: how it all fits together 5

2.0 MARKET ANALYSIS 10

Number of foreign trips undertaken by residents of China, segmented by purpose of trip, 2008 to 2012 11
Number of foreign trips undertaken by residents of China, segmented by purpose of trip, 2008 to 2012 (table) 11
Destinations of foreign trips undertaken by residents of China, 2012 12
Estimated gross written premiums and policy numbers for travel insurance and assistance in China, 2008 to 2012 13
Estimated gross written premiums and policy numbers for travel insurance and assistance in China, 2008 to 2012 (table) 14
Summary of travel trade, transportation and financial organisations researched in China, segmented by type, 2013 15
Provision rates for stand-alone travel insurance and assistance in China, segmented by type of travel trade, transportation and financial organisation, 2013 16
Operating models used for stand-alone travel insurance and assistance in China, segmented by type of travel trade, transportation and financial organisation, 2013 17
Operating models used for stand-alone travel insurance and assistance in China, segmented by type of travel trade, transportation and financial organisation, 2013 (table) 18
Competitor share of partnerships for stand-alone travel insurance and assistance in China, 2013: travel trade organisations 20
Competitor share of partnerships for stand-alone travel insurance and assistance in China, 2013: transportation organisations 21
Competitor share of partnerships for stand-alone travel insurance and assistance in China, 2013: financial organisations 22
Provision rates for travel insurance and assistance linked to payment cards and bank accounts in China, segmented by product function and level, and by type of cover, 2013 24
Forecast number of foreign trips undertaken by residents of China, segmented by purpose of trip, 2016 26
Forecast number of foreign trips undertaken by residents of China, segmented by purpose of trip, 2016 (table) 27
Forecast gross written premiums and policy numbers for travel insurance and assistance in China, 2016 28
Forecast gross written premiums and policy numbers for travel insurance and assistance in China, 2016 (table) 28

To order this report: Travel Insurance and Assistance in China
http://www.reportlinker.com/p01142088/Travel-Insurance-and-Assistance-in-China.html#utm_source=prnewswire&utm_medium=pr&utm_campaign=Travel_Services

__________________________
Contact Clare: [email protected]
US: (339)-368-6001
Intl: +1 339-368-6001

SOURCE Reportlinker

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
In 2014, Amazon announced a new form of compute called Lambda. We didn't know it at the time, but this represented a fundamental shift in what we expect from cloud computing. Now, all of the major cloud computing vendors want to take part in this disruptive technology. In his session at 20th Cloud Expo, John Jelinek IV, a web developer at Linux Academy, will discuss why major players like AWS, Microsoft Azure, IBM Bluemix, and Google Cloud Platform are all trying to sidestep VMs and containers...
The many IoT deployments around the world are busy integrating smart devices and sensors into their enterprise IT infrastructures. Yet all of this technology – and there are an amazing number of choices – is of no use without the software to gather, communicate, and analyze the new data flows. Without software, there is no IT. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, Dave McCarthy, Director of Products at Bsquare Corporation; Alan Williamson, Principal ...
IoT is at the core or many Digital Transformation initiatives with the goal of re-inventing a company's business model. We all agree that collecting relevant IoT data will result in massive amounts of data needing to be stored. However, with the rapid development of IoT devices and ongoing business model transformation, we are not able to predict the volume and growth of IoT data. And with the lack of IoT history, traditional methods of IT and infrastructure planning based on the past do not app...
DevOps and microservices are permeating software engineering teams broadly, whether these teams are in pure software shops but happen to run a business, such Uber and Airbnb, or in companies that rely heavily on software to run more traditional business, such as financial firms or high-end manufacturers. Microservices and DevOps have created software development and therefore business speed and agility benefits, but they have also created problems; specifically, they have created software securi...
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
"There is a huge interest in Kubernetes. People are now starting to use Kubernetes and implement it," stated Sebastian Scheele, co-founder of Loodse, in this SYS-CON.tv interview at DevOps at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
A critical component of any IoT project is what to do with all the data being generated. This data needs to be captured, processed, structured, and stored in a way to facilitate different kinds of queries. Traditional data warehouse and analytical systems are mature technologies that can be used to handle certain kinds of queries, but they are not always well suited to many problems, particularly when there is a need for real-time insights.
Providing secure, mobile access to sensitive data sets is a critical element in realizing the full potential of cloud computing. However, large data caches remain inaccessible to edge devices for reasons of security, size, format or limited viewing capabilities. Medical imaging, computer aided design and seismic interpretation are just a few examples of industries facing this challenge. Rather than fighting for incremental gains by pulling these datasets to edge devices, we need to embrace the i...
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
In his session at DevOps Summit, Tapabrata Pal, Director of Enterprise Architecture at Capital One, will tell a story about how Capital One has embraced Agile and DevOps Security practices across the Enterprise – driven by Enterprise Architecture; bringing in Development, Operations and Information Security organizations together. Capital Ones DevOpsSec practice is based upon three "pillars" – Shift-Left, Automate Everything, Dashboard Everything. Within about three years, from 100% waterfall, C...
Fifty billion connected devices and still no winning protocols standards. HTTP, WebSockets, MQTT, and CoAP seem to be leading in the IoT protocol race at the moment but many more protocols are getting introduced on a regular basis. Each protocol has its pros and cons depending on the nature of the communications. Does there really need to be only one protocol to rule them all? Of course not. In his session at @ThingsExpo, Chris Matthieu, co-founder and CTO of Octoblu, walked through how Octob...
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, discussed the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports.
"We're bringing out a new application monitoring system to the DevOps space. It manages large enterprise applications that are distributed throughout a node in many enterprises and we manage them as one collective," explained Kevin Barnes, President of eCube Systems, in this SYS-CON.tv interview at DevOps at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.