Technavio’s research analyst predicts the global travel insurance market to grow steadily at a CAGR of 12% between 2016 and 2020. The rise of low-cost airlines is the primary growth driver for this market. With the emergence of low-cost airlines, there has been an increase in the number of airport passengers. This, in turn, has led to an increase in the gross travel insurance premium, which has hiked the profit margins of the top travel insurance vendors. With competiton in the market at an all time high, companies must solidify their positions within the search engines to ensure a profitable year ahead.
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