A company that contacted MarketHub had an idea to enrich the standard travel insurance offered to its customers with additional medical assistance services. To make a final decision about the extension of the offer, the company needed market data from travel insurance market analysis.
To be sure that the idea of a new upsell service is not yet offered on the market by other insurers and there is a demand for it, the company wanted to find answers to questions such as:
- what the travel insurance market in Poland looks like,
- who buys travel insurance and what selects from the available options,
- what types of insurance products are available on the market.
Travel insurance market analysis
For the client, we prepared a report that contained information on Poland’s travel insurance market. In addition to the general characteristics of the market, we discussed in detail the distribution and sales channels of insurances. We also verified the data on who buys travel insurance, when and to what extent.
An extensive part of the report was an analysis of insurance products related to medical assistance. It contained information on travel policies, insurance products related to treatment abroad, insurances for foreigners, as well as private and group health insurances.
As part of the project, simulations of prices and ranges of exemplary travel insurance were carried out. The scopes and components of travel insurance have been analysed in detail in terms of the upsell service planned by the client.
In addition, the client received information on applications and other innovative solutions related to medical services that may be useful for tourists while travelling.
ADVANTAGES FOR THE CLIENT
Thanks to detailed information on the travel insurance market, the client was able to decide on the further development of the offer. It helped to minimise the risk associated with the new investment.
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* Due to a non-disclosure agreement, we are not allowed to present details of this market analysis in the above case study.