Travel Insurance and Assistance in Qatar

  • April 2013
  • -
  • Finaccord
  • -
  • 30 pages

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

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 Qatar 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 70 actual and potential distributors of stand-alone travel policies;

- a review of other direct and affinity distribution channels used in Qatar, 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

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 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
Both Qatar's population and its foreign travel sector are growing well…
…although many trips are relatively short-haul, and only involve travel to Saudi Arabia or the UAE
Market for travel insurance and assistance
Uptake remains low, especially among intra-regional travellers, although awareness is rising
Finaccord estimates that this market is growing rapidly
Distribution through travel trade, transportation and financial organisations
Summary of organisations researched
Provision rates
Around half of airlines can offer travel policies to passengers based in Qatar
Operating models
Several travel agents offer consumers a choice of travel insurance provider
Competitor share of partnerships
Global insurers account for around 60% of travel trade distribution…
…although two local providers also boast several partnerships each
Doha Insurance is the underwriting partner for several airlines' schemes…
Doha Bank Assurance Company is behind the policies sold through its parent bank
Travel insurance and assistance linked to payment cards and bank accounts
The majority of credit card products feature one or more types of travel cover…
…and valuable, comprehensive policies are included with almost 60% of premium-level cards
Other distribution channels
Automotive clubs
Direct distribution by insurance underwriters
Qatar's two principal non-life insurers are both equipped for direct online sales
Online aggregators and brokers
Other online brands
Retailers
Other types of distributor
Forecasts
Underlying foreign travel market
Holiday travel is set to grow more quickly than the number of business trips
Market for travel insurance and assistance
The number of stand-alone travel policies in force is expected to rise by more than 11% a year
?
LIST OF GRAPHICS / TABLES
0.0 EXECUTIVE SUMMARY
Key market data for travel insurance and assistance in Qatar, 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 Qatar, segmented by purpose of trip, 2008 to 2012
Number of foreign trips undertaken by residents of Qatar, segmented by purpose of trip, 2008 to 2012 (table)
Estimated gross written premiums and policy numbers for travel insurance and assistance in Qatar, 2008 to 2012
Estimated gross written premiums and policy numbers for travel insurance and assistance in Qatar, 2008 to 2012 (table)
Summary of travel trade, transportation and financial organisations researched in Qatar, segmented by type, 2013
Provision rates for stand-alone travel insurance and assistance in Qatar, segmented by type of travel trade, transportation and financial organisation, 2013
Operating models used for stand-alone travel insurance and assistance in Qatar, segmented by type of travel trade, transportation and financial organisation, 2013
Operating models used for stand-alone travel insurance and assistance in Qatar, segmented by type of travel trade, transportation and financial organisation, 2013 (table)
Competitor share of partnerships for stand-alone travel insurance and assistance in Qatar, 2013: travel trade organisations
Competitor share of partnerships for stand-alone travel insurance and assistance in Qatar, 2013: transportation organisations
Competitor share of partnerships for stand-alone travel insurance and assistance in Qatar, 2013: financial organisations
Provision rates for travel insurance and assistance linked to payment cards and bank accounts in Qatar, segmented by product function and level, and by type of cover, 2013
Forecast number of foreign trips undertaken by residents of Qatar, segmented by purpose of trip, 2016
Forecast number of foreign trips undertaken by residents of Qatar, segmented by purpose of trip, 2016 (table)
Forecast gross written premiums and policy numbers for travel insurance and assistance in Qatar, 2016
Forecast gross written premiums and policy numbers for travel insurance and assistance in Qatar, 2016 (table)

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