Finaccord’s report titled Travel Insurance and Assistance in South Africa is about the current status and likely future development of the market for stand-alone travel insurance policies in South Africa. It includes the following unique features:
data spanning 2012 to 2016 for the underlying travel market with a segmentation by type of journey (between holiday and business trips) and with related commentary concerning the popularity of different overseas destinations;
data for the size of the market for stand-alone travel insurance and assistance in South Africa between 2012 and 2016 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 120 actual and potential distributors of stand-alone travel policies including airlines, banks, insurance brands and specialised lenders, plus both traditional and online travel trade entities;
a review of other direct and affinity distribution channels used in South Africa including automotive clubs, direct sales, online aggregators, other online brands and retailers, plus cover packaged with payment cards and bank accounts;
estimates for the market share of travel insurance and assistance gross premiums for the top ten underwriters of this type of cover in South Africa in 2016 with these data points expressed as a percentage range (e.g. 5.0% to 7.5%);
forecasts to 2020 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 segmentation as that specified above for the period from 2012 to 2016.
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Finaccord is a market research, publishing and consulting company specialising in insurance and other financial services. Finaccord is part of Aon Global Operations, Singapore Branch.