Travel Insurance and Assistance in Bahrain

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Jun 18, 2013, 11:42 ET

NEW YORK, June 18, 2013 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:

Travel Insurance and Assistance in Bahrain
http://www.reportlinker.com/p01360799/Travel-Insurance-and-Assistance-in-Bahrain.html#utm_source=prnewswire&utm_medium=pr&utm_campaign=Travel_Services

Finaccord's report titled Travel Insurance and Assistance in Bahrain is about the current status and likely future development of the market for stand-alone travel insurance policies in Bahrain.

It includes the following unique features:

- data spanning 2008 to 2012 for the underlying travel market with segmentations by type of journey (between holiday and business trips) and with related commentary concerning the popularity of different overseas destinations;

- data for the size of the market for stand-alone travel insurance and assistance in Bahrain between 2008 and 2012 in terms of premiums and policies, with a segmentation between single-trip and annual cover;

- analyses of the share of distribution relationships of travel insurance providers split between travel trade, transportation and financial organisations, based on a primary survey of over 70 actual and potential distributors of stand-alone travel policies;

- a review of other direct and affinity distribution channels used in Bahrain, including cover packaged with payment cards and bank accounts as well as automotive clubs, direct sales, online aggregators and brokers, other online brands and retailers;

- forecasts to 2016 for both the underlying travel market and for the size of the market for stand-alone travel insurance and assistance in terms of premiums and policies, with the same segmentations as those specified above for the period from 2008 to 2012.

The report is accompanied by an Excel PartnerBASE dataset that details the travel insurance partnerships of each of the travel trade, transportation and financial organisations covered, plus a convenient market data annexe, also in Excel format. This annexe can be used as a convenient source of data already in Excel format which means that there is no need for users to re-enter data from the PDF report into their own Excel worksheets.

Table of Contents

0.0 EXECUTIVE SUMMARY
1.0 INTRODUCTION
What is this report about?
Rationale
This report builds upon Finaccord's ground-breaking studies of this topic in other regions
Methodology
Primary research
The survey includes more than 70 travel trade, transportation and financial organisations…
…and draws on an analysis of various travel benefits linked to banking products
Market data
External sources
Travel insurance and assistance: how it all fits together
The term 'travel insurance' can refer to protection from a heterogeneous range of risks…
...and assistance companies play a fundamental role in the global travel insurance industry
Definitions
Terms and abbreviations
Types of packaged travel insurance and assistance
Operating models
Currencies, exchange rates and inflation
PartnerBASE
Finaccord

2.0 MARKET ANALYSIS
Introduction
Underlying foreign travel market
Residents of Bahrain undertake an estimated 0.7 million overnight trips every year…
…although the majority of these travellers do not go beyond the Middle East region
Market for travel insurance and assistance
In real terms, Bahrain's stand-alone travel insurance market is growing at nearly 18% per year…
…and an increasing proportion of travel policies take the form of annual or multi-trip cover
Distribution through travel trade, transportation and financial organisations
Summary of organisations researched
Provision rates
Less than two thirds of conventional travel agents offer travel insurance to their clients
Operating models
The vast majority of distributors in Bahrain choose to partner with a single, external underwriter
Competitor share of partnerships
In Bahrain, travel trade distribution is dominated by one multinational insurer...
…whereas Chartis benefits from an international agreement with an online travel portal
Mondial Assistance organises cover for several airlines, in partnership with a local insurer…
…and there are seemingly few other competitors active in the transportation sector
Joint venture insurer Medgulf Allianz Takaful is the leading partner for banks
Travel insurance and assistance linked to payment cards and bank accounts
More than half of credit cards products feature some form of travel insurance…
…whereas packaged bank accounts are not commonplace in Bahrain
Other distribution channels
Automotive clubs
Direct distribution by insurance underwriters
Most of Bahrain's large non-life underwriters sell travel policies direct to the consumer
Online aggregators and brokers
Other online brands
Retailers
Other types of distributor
Forecasts
Underlying foreign travel market
The number of foreign holiday trips is expected to grow at around 7% per annum
Market for travel insurance and assistance
In nominal terms, premiums are likely to exhibit annual growth of more than 10% in the coming years
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LIST OF GRAPHICS / TABLES
0.0 EXECUTIVE SUMMARY
Key market data for travel insurance and assistance in Bahrain, 2008, 2012 and 2016
1.0 INTRODUCTION
Travel insurance and assistance: how it all fits together
2.0 MARKET ANALYSIS
Number of foreign trips undertaken by residents of Bahrain, segmented by purpose of trip, 2008 to 2012
Number of foreign trips undertaken by residents of Bahrain, segmented by purpose of trip, 2008 to 2012 (table)
Estimated gross written premiums and policy numbers for travel insurance and assistance in Bahrain, 2008 to 2012
Estimated gross written premiums and policy numbers for travel insurance and assistance in Bahrain, 2008 to 2012 (table)
Summary of travel trade, transportation and financial organisations researched in Bahrain, segmented by type, 2013
Provision rates for stand-alone travel insurance and assistance in Bahrain, segmented by type of travel trade, transportation and financial organisation, 2013
Operating models used for stand-alone travel insurance and assistance in Bahrain, segmented by type of travel trade, transportation and financial organisation, 2013
Operating models used for stand-alone travel insurance and assistance in Bahrain, segmented by type of travel trade, transportation and financial organisation, 2013 (table)
Competitor share of partnerships for stand-alone travel insurance and assistance in Bahrain, 2013: travel trade organisations
Competitor share of partnerships for stand-alone travel insurance and assistance in Bahrain, 2013: transportation organisations
Competitor share of partnerships for stand-alone travel insurance and assistance in Bahrain, 2013: financial organisations
Provision rates for travel insurance and assistance linked to payment cards and bank accounts in Bahrain, segmented by product function and level, and by type of cover, 2013
Forecast number of foreign trips undertaken by residents of Bahrain, segmented by purpose of trip, 2016
Forecast number of foreign trips undertaken by residents of Bahrain, segmented by purpose of trip, 2016 (table)
Forecast gross written premiums and policy numbers for travel insurance and assistance in Bahrain, 2016
Forecast gross written premiums and policy numbers for travel insurance and assistance in Bahrain, 2016 (table)