What is the market size of travel insurance market in India | Industry Trends & Forecast 2026

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Code: MTA11500

Publication Date: Dec 2025

What is the growth rate of the India Travel Insurance Market?

According to 6Wresearch internal database and industry insights, India Travel Insurance Market is expanding at a CAGR of around 10.9% during the forecast period 2026-2032.

The market is expanding due to growing demand for travel protection coverage, rising outbound and domestic tourism movement, increasing adoption of online insurance purchase platforms, advancements in digital policy processing and claim assistance, and rising awareness toward medical, trip cancellation, baggage loss, and emergency support protection while travelling.

Key Growth Drivers of the India Travel Insurance Market

The adoption of online and app-based travel insurance booking is increasing
The demand is rising for medical emergency and trip cancellation coverage
Rising international student, business, and leisure travel participation
Technological advancements in instant policy issuance and digital claims
Increasing collaborations between insurers, airlines, and travel agencies

India Travel Insurance Market Trends

India Travel Insurance Market is witnessing notable trends such as rising demand for customized and flexible insurance plans tailored to trip duration, destination, and traveller category. The market is experiencing growing adoption of multi-trip annual policies among frequent travellers. Digital issuance, automated underwriting, and AI-assisted claim validation are becoming more prevalent. The rise of student travel, education migration, and corporate travel is driving structured policy demand. Travel insurance bundling through fintech platforms, tour operators, and booking portals is gaining momentum. Medical coverage extensions, emergency evacuation benefits, and adventure travel protection options are expanding. Furthermore, domestic tourism growth is increasing uptake of short-term travel protection plans.

Emerging Developments in the India Travel Insurance Market

India Travel Insurance Market is progressing through advancements in real-time traveller assistance, smart claim settlement platforms, and integrated travel risk assessment tools. Increasing R&D in personalized insurance modelling and behaviour-based policy pricing is expanding market sophistication. Collaborations between insurers, digital travel platforms, and payment gateways are strengthening distribution networks. Expansion of embedded insurance models within ticketing systems is accelerating seamless adoption. Rising development of automated customer support for emergency responses is improving user experience. Growth in expatriate travel coverage and long-stay protection is widening service offerings. Additionally, enhanced coverage for baggage tracking, missed connections, and destination-specific risk coverage is contributing to market evolution.