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Travel Insurance in Australia Industry Data and Analysis
Demand for the Travel Insurance industry is in flux, as consumer sentiment becomes shaky and conflict between the United States, Israel and Iran shakes global travel logistics. The ripple effects of the conflict will be felt in fuel prices and subsequently, airfares, with already battered consumers likely to hold off on some more expensive travel commitments. Insurers will battle their own reinsurance-related cost pressures and, in the meantime, facilitate delay, cancellation and other risk coverage services. Financial market performance, both equities and bonds, has also become uncertain, with insurers' investment revenue channels hoping for a wider market recovery and a quick resolution to geopolitical conflicts and supply-chain concerns. Travel experiences became one of the most popular forms of revenge spending coming out of the pandemic, with demand swiftly rebounding above pre-pandemic levels, a trend that could repeat on a smaller scale following logistical clarity. While international departures plummeted into early 2021-22, a lightning-fast recovery as restrictions lifted facilitated easier travel and a major upswing in demand. More recently, travellers have been hit with skyrocketing premium prices, enabling insurers to generate record returns despite the growing prevalence of underinsurance. Overall, industry revenue is expected to rise at an annualised rate of 37.8% over the five years through 2025-26 to $1.4 billion, compared with the pandemic-affected base year of 2020-21. This includes an anticipated faltering of 23.0% in the current year amid disruptions to travel activity.
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What's included in this industry analysis
IBISWorld's research coverage on the Travel Insurance industry in Australia includes market sizing, forecasting, data and analysis from 2016-2031. The most recent publication was released April 2026.
About this industry
What's this industry report about?
The Travel Insurance industry in Australia operates under the ANZSIC industry code OD4216. The industry underwrites (i.e. assumes, pools and spreads out the risk of financial losses over policyholders in exchange for premiums) travel insurance policies. Coverage can include losses from trip cancellation and delay, lost baggage and medical emergencies. Related terms covered in the Travel Insurance industry in Australia include coverage, reinsurance and distributors.
What's included in this industry?
Products and services covered in Travel Insurance industry in Australia include Cancellation insurance, Delay insurance and Medical insurance.
What companies are included in this industry?
Companies covered in the Travel Insurance industry in Australia include Zurich Travel Solutions, Allianz Australia and NIB Holdings.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Travel Insurance industry in Australia.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed products and service segmentation and analysis of major markets for the for the Travel Insurance industry in Australia.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Travel Insurance industry in Australia.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Travel Insurance industry in Australia. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Travel Insurance industry in Australia. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Travel Insurance industry in Australia. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Travel Insurance industry in Australia. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Travel Insurance industry in Australia.
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Frequently Asked Questions
What is the market size of the Travel Insurance industry in Australia in 2026?
The market size of the Travel Insurance industry in Australia is $1.4bn in 2026.
How many businesses are there in the Travel Insurance industry in Australia in 2026?
There are 43 businesses in the Travel Insurance industry in Australia, which has grown at a CAGR of 2.0 % between 2021 and 2026.
How may import tariffs affect the Travel Insurance industry in Australia?
The Travel Insurance industry in Australia is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Travel Insurance industry in Australia?
The Travel Insurance industry in Australia is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Travel Insurance industry in Australia grown or declined over the past 5 years?
The market size of the Travel Insurance industry in Australia has been growing at a CAGR of 37.8 % between 2021 and 2026.
What is the forecast growth of the Travel Insurance industry in Australia over the next 5 years?
Over the next five years, the Travel Insurance industry in Australia is expected to grow.
What are the biggest companies in the Travel Insurance industry in Australia?
The biggest companies operating in the Travel Insurance industry in Australia are Zurich Travel Solutions, Allianz Australia and NIB Holdings
What does the Travel Insurance industry in Australia include?
Luggage insurance and Travel delay insurance are part of the Travel Insurance industry in Australia.
Which companies have the highest market share in the Travel Insurance industry in Australia?
The company holding the most market share in the Travel Insurance industry in Australia is Zurich Travel Solutions.
How competitive is the Travel Insurance industry in Australia?
The level of competition is moderate and steady in the Travel Insurance industry in Australia.
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