Saudi Arabia travel insurance market is expected to grow at a steady rate during the forecast period. Travel insurance provides the passenger with the reassurance of any monetary loss recovery during the trip which elevates the mind of the passenger. The rising per capita income of the residents in Saudi Arabia is enabling them to opt for travel insurance policies during traveling. The oil industry is the major revenue-generating industry in Saudi Arabia and the government is trying to diversify and develop other sectors which are influencing the economic growth of the region. The surge in industrialization and the presence of a plethora of job opportunities are attracting a large number of tourists into Saudi Arabia in search of quality living standards. Travel insurance eases the financial burden over an individual and helps in paying the bills and covers financial losses that may occur during the trip. The rise in awareness among the consumers regarding the benefits offered by travel insurance policy coupled with the supportive government initiatives to promote the adoption of insurance policies in the region is expected to influence the travel insurance demand in Saudi Arabia.

The Saudi Arabia travel insurance market is segmented into insurance cover, sales medium, age group, regional distribution, and company. Based on age group, the market can be divided into senior citizens, adult, student, children, and others. The senior segment is expected to witness growth in the forecast period, 2022-20226. With growing age, there is an increased risk of getting infected by diseases or the chances of getting hurt which may happen while traveling on a trip. Also, companies are adopting attractive marketing strategies to attract more customers to buy the travel insurance policy.

The major players operating on the travel insurance market are Allianz Saudi Fransi Cooperative Insurance Co., METLIFE AIG ANB, AXA Cooperative Insurance Co, Seven Corners Inc., The Company for Cooperative Insurance, The Mediterranean & Gulf Insurance & Reinsurance Company, Bupa Arabia for Cooperative Insurance, United Cooperative Assurance Co, Arabia Insurance Cooperative Company, Al-Ahlia Insurance Co., and others. Major companies are developing advanced technologies and launching new services to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new service developments.

Years considered for this report:

Historical Years: 2016-2019

Base Year: 2020

Estimated Year: 2021

Forecast Period: 2022–2026

Objective of the Study:

  • To analyze and estimate the market size of Saudi Arabia travel insurance market from 2016 to 2019.
  • To estimate and forecast the market size of Saudi Arabia travel insurance market from 2020 to 2026 and growth rate until 2026.
  • To classify and forecast Saudi Arabia travel insurance market based on insurance cover, sales medium, age group, regional distribution, and company.
  • To identify dominant region or segment in the Saudi Arabia travel insurance market.
  • To identify drivers and challenges for Saudi Arabia travel insurance market.
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Saudi Arabia travel insurance market.
  • To identify and analyze the profile of leading players operating in Saudi Arabia travel insurance market.
  • To identify key sustainable strategies adopted by market players in Saudi Arabia travel insurance market.


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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of service providers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the service providers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the service providers, distribution channels and presence of all major players across the globe.

TechSci Research calculated the market size of Saudi Arabia travel insurance market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research. 

Key Target Audience:

  • Travel Insurance service provider companies
  • Market research and consulting firms
  • Government bodies such as regulating authorities and policy makers
  • Organizations, forums, and alliances related to travel insurance market

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, Saudi Arabia travel insurance market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Saudi Arabia Travel Insurance Market, By Insurance Cover:
    • Single-Trip Travel Insurance
    • Multi-Trip Travel Insurance
    • Others
  • Saudi Arabia Travel Insurance Market, By Sales Medium:
    • Insurance Aggregators/ Agents
    • Insurance Companies
    • Online
    • Others
  • Saudi Arabia Travel Insurance Market, By Age Group:
    • Senior Citizens
    • Adult
    • Student
    • Children
    • Others
  • Saudi Arabia Travel Insurance Market, By Region:
    • Western Region
    • Northern & Central Region
    • Eastern Region
    • Southern Region

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Saudi Arabia travel insurance market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).
Saudi Arabia travel insurance market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]  

In case you don’t find what you are looking for, please get in touch with our custom research team at [email protected]

1.    Product Overview

2.    Research Methodology

3.    Impact of COVID-19 on Saudi Arabia Travel Insurance Market

4.    Executive Summary

5.    Voice of Customer

6.    Saudi Arabia Travel Insurance Market Outlook

6.1.  Market Size & Forecast

6.1.1. By Value

6.2.  Market Share & Forecast

6.2.1. By Insurance Cover (Single-Trip Travel Insurance, Multi-Trip Travel Insurance)

6.2.2. By Sales Medium (Insurance Aggregators/ Agents, Insurance Companies, Online, Others)

6.2.3. By Age Group (Senior Citizens, Adult, Student, Children, Others)

6.2.4. By Region

6.2.5. By Company (2020)

6.3.  Product Market Map

7.    Saudi Arabia Single-Trip Travel Insurance Market Outlook

7.1.  Market Size & Forecast          

7.1.1. By Value

7.2.  Market Share & Forecast

7.2.1. By Sales Medium

7.2.2. By Age Group

7.2.3. By Region

8.    Saudi Arabia Multi-Trip Travel Insurance Market Outlook

8.1.  Market Size & Forecast          

8.1.1. By Value

8.2.  Market Share & Forecast

8.2.1. By Sales Medium

8.2.2. By Age Group

8.2.3. By Region

9.    Market Dynamics

9.1.  Drivers

9.2.  Challenges

10.  Market Trends & Developments

11.  Policy & Regulatory Landscape

12.  Saudi Arabia Economic Profile

13.  Competitive Landscape

13.1.              Company Profiles

13.1.1.   Allianz Saudi Fransi Cooperative Insurance Co.

13.1.2.   METLIFE AIG ANB

13.1.3.   AXA Cooperative Insurance Co

13.1.4.   Seven Corners Inc.

13.1.5.   The Company for Cooperative Insurance

13.1.6.   The Mediterranean & Gulf Insurance & Reinsurance Company

13.1.7.   Bupa Arabia for Cooperative Insurance

13.1.8.   United Cooperative Assurance Co

13.1.9.   Arabia Insurance Cooperative Company

13.1.10. Al-Ahlia Insurance Co.

14.  Strategic Recommendations

15.  About Us & Disclaimer

In case you don’t find what you are looking for, please get in touch with our custom research team at [email protected]