The Philippines travel Insurance market was valued at USD 115.76 Million in 2025. The market is expected to grow at a CAGR of 19.80% during the forecast period of 2026-2035 to reach a value of USD 704.90 Million by 2035.
The Philippines travel Insurance market is witnessing a notable shift, moving beyond traditional coverage models toward data-driven, modular policies tailored for evolving traveller preferences. As international and domestic tourism rebound post-pandemic, there is an increasing demand for insurance products that reflect modern travel risks, ranging from health emergencies to cyber threats and trip cancellations. According to the Department of Tourism, international arrivals reached over 5.4 million in 2023, a strong rebound that is encouraging insurers to partner with airlines and OTAs (Online Travel Agencies) to offer embedded insurance solutions. Moreover, the Philippine Insurers and Reinsurers Association (PIRA) has been actively collaborating with the Insurance Commission to draft digital-first regulatory frameworks.
Moreover, the launch of AI-powered microinsurance platforms in collaboration with local fintech players like UBX and GCash, allowing real-time underwriting for low-premium policies, has been one standout development in the Philippines travel Insurance market. These systems use behavioural data and risk modelling to customise premiums. Start-ups are also deploying blockchain to fast-track claims processing, especially for flight delays or baggage loss.
Furthermore, the ASEAN Travel Corridor Arrangement Framework, designed to ease business and essential travel across Southeast Asia is reshaping the Philippines travel insurance market dynamics. By promoting greater regional mobility, it is driving demand for cross-border coverage and tailored insurance products. This, combined with the rise in overseas Filipino workers (OFWs), reaching over 2.16 million in 2023, has created steady demand for outbound insurance with broader medical and legal coverage. Insurers like Sun Life and Paramount Life now offer tailored policies for OFWs, including coverage for job loss and health emergencies.
Base Year
Historical Period
Forecast Period
The market observes several companies that are developing specific features in their travel insurance policies, such as those relevant to business trips, adventure tourism, and medical emergencies. These innovations are likely to open up avenues for growth and differentiation, further boosting the growth in the Philippines travel insurance market.
Digital solutions such as mobile apps and AI-enabled claim processing are reshaping the industry trends by enhancing customer experience while minimizing operational costs for B2B travel insurance companies in the Philippines.
As the world is recovering from COVID-19, global travel is again on the rise. This presents opportunities for companies to provide insurance policies that include COVID-related risks, ensuring safe travel for tourists and business travelers coming in or out of the Philippines.
Compound Annual Growth Rate
19.8%
Value in USD Million
2026-2035
*this image is indicative*
|
Philippines Travel Insurance Market Report Summary |
Description |
Value |
|
Base Year |
USD Million |
2025 |
|
Historical Period |
USD Million |
2019-2025 |
|
Forecast Period |
USD Million |
2026-2035 |
|
Market Size 2025 |
USD Million |
115.76 |
|
Market Size 2035 |
USD Million |
704.90 |
|
CAGR 2019-2025 |
Percentage |
XX% |
|
CAGR 2026-2035 |
Percentage |
19.80% |
|
CAGR 2026-2035 - Market by Age Group |
18 – 30 Years Old |
23.7% |
|
CAGR 2026-2035 - Market by Distribution Channel |
Online Travel Agencies (OTA) |
26.8% |
|
2025 Market Share by Agr Group |
Above 50 Years |
9.7% |
The surge in travel is boosting collaborations between insurance firms and OTAs or airlines to embed insurance directly at the point of booking, propelling Philippines travel Insurance market opportunities. For instance, Philippine Airlines has introduced bundled policies with viral infection protection and natural calamity add-ons in partnership with Chub Insurance. OTA platforms like Traveloka and Agoda are offering seamless travel protection, driving consumer convenience and uptake. These embedded options are gaining popularity for their ease and speed, especially among millennials and Gen Z.
Insurtech players are innovating with AI-powered risk models that analyse travellers’ past behaviour, destinations, travel frequency, and medical history, boosting the Philippines travel Insurance market trends and dynamics. These data points help insurers develop dynamic pricing structures, making travel insurance more accessible. For instance, Singlife Philippines offers an app-based travel protection plan that provides real-time quotes and policy adjustments. This usage-based model is particularly attractive to digital-native customers and gig economy workers who prefer on-demand solutions.
Delays in claim settlement have traditionally discouraged many Filipinos from buying travel insurance. However, the Philippines travel Insurance market is seeing an uptake in smart contracts powered by blockchain. Companies like Igloo and Standard Insurance are piloting automated claims for flight delays, triggered by verified airline data, reducing claim time by a significant extent. The Department of Information and Communications Technology (DICT) is also backing blockchain inclusion to increase financial transparency and efficiency in the insurance sector.
As the Philippines is prone to typhoons and natural calamities, insurers are increasingly offering climate-linked travel policies. For example, in November 2024, Malayan Insurance introduced a travel plan with disaster-triggered coverage. The plan activates automatically during typhoon alerts, providing additional medical and repatriation benefits. Such responsiveness is driving adoption in climate-sensitive provinces and destinations, propelling the growth of Philippines travel Insurance market. These insurance offerings are not only innovative but are also necessary for maintaining resilience in a country frequently impacted by weather events.
With the rise in digital nomadism and e-visa travel, cyber risks during international trips have become a concern. In response, the Philippines travel Insurance market is witnessing the emergence of hybrid travel-cyber insurance policies. Pioneer Insurance, in collaboration with local cyber-startups, now offers policies that cover digital identity theft, hacked online bookings, and data breaches. These offerings are tailored for business travellers and remote workers. Government focus on digital economy legislation further encourages such innovation, with the Cybercrime Investigation and Coordinating Center (CICC) promoting public-private partnerships in digital safety protocols.
The EMR’s report titled “Philippines Travel Insurance Market Report and Forecast 2026-2035” offers a detailed analysis of the market based on the following segments:
Market Breakup by Age Group
Key Insight: The travel insurance market in the Philippines, by age group segmentation, is shaped by lifestyle diversity. The 1-17 years old segment is led by purchases, made by parents, mainly for school excursions. Young adults aged 18-30 years are driving fast adoption due to digital integration and flexible coverage needs. Age group between 31-49 years dominate the market owing to family and business travel, while the above 50 years age group, though slower in uptake, seeks extensive medical add-ons and concierge services.
Market Breakup by Insurance Cover
Key Insight: All the coverage types as considered in the Philippines travel Insurance market report, cater to different traveller profiles. Single-trip insurance dominates the current market dynamics due to its affordability and ease of access, especially among leisure travellers. Annual multi-trip policies suit frequent flyers, offering better value and convenience. Long-stay and cyber-inclusive plans are rising rapidly, targeting niche groups such as remote workers, international students, and corporate travellers. These trends indicate a shift from static to hybrid, tech-integrated insurance models.
Market Breakup by End User
Key Insight: End users in the Philippines travel insurance market range from senior citizens to family groups and solo digital nomads. While business travellers dominate the market due to compliance and risk coverage needs, education travellers are emerging fast with support from cross-border educational partnerships. Family travellers often seek group policies for vacations, while senior citizens demand medical-intensive plans. Understanding these distinctions helps providers design responsive, segment-specific offerings.
Market Breakup by Distribution Channel
Key Insight: Traditional insurance firms continue to lead the Philippines travel insurance industry, with their reputation and regulatory trust. OTAs are growing rapidly, offering embedded, itinerary-based micro-policies. Banks serve as cross-sellers during forex or ticket transactions, while tour operators and cyber-agents act as bundled-policy vendors. Railway and airline operators provide added layers of convenience and trust, especially for domestic travellers.
By Age Group, the 31–49 Years Segment Clocks in the Larger Share of the Market
The 31-49 years age group, typically comprising working professionals and family travellers, drives the majority of travel insurance demand in the Philippines. Their higher disposable income and health awareness make them more likely to purchase comprehensive policies. Many travellers in this segment travel abroad for business or leisure, often to regions requiring mandatory insurance. Insurers such as FWD and BDO Life have tailored products offering child add-ons and partner coverage, aligning with their lifestyle needs. Embedded policies through corporate portals and e-wallet integration further ease accessibility. The digital-savvy nature of this group makes app-based insurance purchase and claims management particularly attractive.
Young Filipino travellers within the age group of 18-30 years, are increasingly drawn to short-term overseas gigs, digital nomadism, and low-budget adventure travel, prompting insurers to launch affordable, modular microinsurance policies. With a preference for mobile-first services, this group relies heavily on fintech channels and social commerce platforms to buy policies. Firms like GCash and Maya have enabled quick opt-in insurance, propelling Philippines travel Insurance market value. Partnerships with education agencies and budget airlines help promote coverage for students studying abroad or working on short-term contracts. Their adoption of crypto-friendly platforms and preference for real-time claim settlements also shape product innovation in this age group.
By Insurance Cover, Single–Trip Insurance Dominates the Travel Insurance Industry
Single-trip policies remain the dominant segment in the Philippines travel insurance industry, especially for leisure and first-time international travellers. Their simplicity, low cost, and one-time payment appeal to the majority of outbound travellers. Malayan and Pioneer Insurance have introduced dynamic plans that adjust based on destination risk index and trip duration. This segment is widely distributed through airline partnerships and e-wallet integration, allowing users to add insurance during ticket booking or online check-ins. The prevalence of short regional travel in Southeast Asia also boosts the appeal of this policy type, making it the go-to option for occasional travellers.
With the rise of remote work and academic exchange programmes, long-stay cyber insurance policies are gaining more traction in the Philippines travel Insurance market. These policies are tailored for digital influencers, freelancers, and overseas students, covering both physical health risks and digital threats like data breaches, identity theft, and unauthorised access. For example, BOXX Insurance and World Travel Protection launched cybersecurity tool for business travellers, with cloud-based coverage that includes VPN access and cyber hygiene education. These plans are often sold via digital banks and global e-learning platforms.
By End User, Business Travellers Occupy a Significant Share of the Market
Business travellers represent a consistent and lucrative segment for travel insurance companies in the Philippines. They often require multi-trip plans with tailored add-ons like delayed baggage, medical evacuation, or replacement of essential business gear. In the Philippines, companies are now integrating insurance into corporate travel portals. Providers such as AXA Philippines are offering dashboards to HR departments for bulk policy issuance and risk monitoring. Cross-border partnerships, particularly in ASEAN, have further bolstered the demand for travel insurance with legal assistance features.
Outbound Filipino students and international exchange participants are rapidly emerging as a high-potential user base, boosting the Philippines travel Insurance market revenue growth. Education consultancy firms and embassies are requiring proof of travel and medical insurance for visa approval. Insurance firms are working with universities in Australia, Canada, and Japan to offer affordable and compliant plans for Filipino students. For example, Auras Insurance offers bundled travel insurance with student advisory services. Typically, the coverage includes tuition protection, mental health support, and COVID-related delays. Fintech start-ups are also offering buy-now-pay-later options for students, further easing accessibility.
By Distribution Channel, Insurance Companies Register the Maximum Share of the Market Revenue
Insurance companies largely contribute to the overall Philippines travel Insurance market value, particularly for travellers preferring established brands and full-service packages. Most firms now provide hybrid access offering physical branches paired with AI-assisted chatbots and mobile apps. Firms like AXA, Malayan, and Prudential offer pre-trip consultations, in-trip emergency support, and post-trip feedback systems. Their in-house underwriting allows greater flexibility in policy customisation. Many companies also deploy APIs to integrate directly with booking platforms and fintech apps.
Online Cyber Agency (OTA) are revolutionising the Philippines travel insurance market dynamics through seamless, embedded policy options. Companies like Traveloka, Booking.com, and even local super-apps now offer click-to-insure functionality, with personalised plans based on itinerary data. OTAs are using predictive analytics to offer targeted upselling at checkout. Firms like Cebu Pacific have enabled in-app opt-ins, covering delays, accidents, and lost documents. The speed, transparency, and bundling flexibility offered by OTAs are ideal for time-sensitive and price-conscious travellers.
The Philippines travel insurance market players such as AXA, Prudential, Malayan, and FWD are increasingly investing in embedded insurance, cloud-based claims management, and digital onboarding systems. Their focus lies in integrating insurtech solutions while expanding regional footprints via partnerships with travel service providers. Start-ups like Kwik.insure and Igloo are gaining traction by introducing blockchain-based claims and gamified insurance platforms. Regulatory flexibility has enabled Philippines travel insurance companies to trial unconventional offerings, from NFT-backed policies to real-time disaster-linked coverage. Embedded coverage, blockchain claims, climate-responsive plans, AI-led pricing, and cyber-insurance bundling are some of the key trends that companies are focusing on to appeal to digital nomads and tech-aware business travellers. Collaboration with digital ID systems and fintech wallets has further removed friction from user onboarding. Key differentiators that players are currently focusing on are automation, cross-sector integration, and behavioural underwriting.
Pacific Cross Insurance is a company that was incorporated in 1949 and since then the company has expanded to be among the top travelers and health insurance players in the nation, majorly dealing with medical and emergency care. The company is based in Makati City.
Incorporated in 1930, Malayan Insurance is one of the oldest insurance companies in the Philippines, with headquarters in Makati. It offers all-inclusive coverage for travel insurance. The company's reputation for prompt processing of claims and its extensive network makes it especially popular for domestic and international travel.
AXA Philippines began operations in 1999. The company offers customized travel insurance solutions and boasts itself as innovative in products, digitalization, and customer-focused services that cater to every travel requirement.
Established in 2007, and based in Makati, Etiqa Philippines offers extensive travel insurance products with the intention of offering affordable coverage and flexibility in policies. The company has established a reputation with a people-oriented approach with much of its services being offered digitally to be easily accessible.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other key players in the Philippines travel insurance market report are Oona Insurance Corporation, Prudential Guarantee and Assurance, Inc., and Chubb Company, among others.
Explore the latest trends shaping the Philippines Travel Insurance Market 2026-2035 with our in-depth report. Gain strategic insights, future forecasts, and key market developments that can help you stay competitive. Download a free sample report or contact our team for customized consultation on Philippines Travel Insurance Market trends 2026.
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2025, the Philippines travel insurance market reached an approximate value of USD 115.76 Million.
The market is projected to grow at a CAGR of 19.80% between 2026 and 2035.
The market is estimated to witness healthy growth in the forecast period of 2026-2035 to reach a value of around USD 704.90 Million by 2035.
Key strategies driving the market include forging OTA alliances, launching modular products, integrating blockchain claims, investing in AI models, and partnering with fintech wallets to simplify access and expand coverage across traveller segments.
The key challenges are consumer mistrust, low financial literacy, and complex claim processes. Slow digital transformation among legacy insurers also limits real-time offerings needed by today's tech-first travellers.
The various age groups considered in the market report are 1 – 17 Years Old, 18 – 30 Years Old, 31 – 49 Years Old, and above 50 years.
The various insurance covers considered in the market report are single-trip insurance, annual multi-trip insurance, and long-stay travel insurance.
The end users considered in the Philippines travel insurance market report are senior citizens, education travelers, business travelers, family travelers, and others.
The major players in the market are Pacific Cross Insurance, Inc., Malayan Insurance Co., Inc., AXA Philippines, Etiqa Life and General Assurance Philippinenes, Inc., Oona Insurance Corporation, Prudential Guarantee and Assurance, Inc., and Chubb Company, among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Age Group |
|
| Breakup by Insurance Cover |
|
| Breakup by End User |
|
| Breakup by Distribution Channel |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
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