A languorous increase in disposable income particularly in developing countries during the current downward draft because of the COVID 19 pandemic has potentially influenced the avoidance of travel insurance purchase.
Also, the dearth of consumer awareness about the practical details of the policies appropriate to one’s individual needs is certain challenges that need ironing out to effectuate the anticipated growth of the global travel insurance market.
According to UNWTO (The World Tourism Organization) as of January 2020, the international tourist arrivals as far as global overnight visitors increased by 4% in 2019 attaining 1.5 billion, approx. 54 million more than that of the previous year.
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