Industry Analysis & Industry Trends
The growth trajectory of the Travel Insurance industry has been volatile over the past five years. Revenue growth is linked to the performance of financial markets and consumer propensity to demand travel insurance products. Overall, industry revenue is forecast to grow at an annualised 1.0% over the five years through 2015-16. Revenue is projected to increase by 1.4% in 2015-16, to reach $885.4 million, largely driven by continual growth in travel by Australians.
The strong Australian dollar for most of the past five years has bolstered Australians' enthusiasm for travel, and the number of international trips taken by Australians has increased consistently over the past five years. This trend has persisted even as the Australian dollar depreciated since 2012-13... purchase to read more
Industry Report - Industry Locations Chapter
A large proportion of travel insurance underwriters resides along the Eastern seaboard, where the Australian population is most densely populated. This follows a similar trend to most financial service providers who choose to locate themselves within close proximity to downstream industries and consumers. This is also prevalent in the Travel Insurance industry. Industry participants may be required to meet and communicate with clients to assess their conditions to underwrite insurance coverage.
As a result, New South Wales houses the highest proportion of industry establishments, at 38.5%... purchase to read more