Business Travel Insurance Market Scope
The global business travel insurance market is expected to witness high growth in the forecasted period due to the rapidly changing global economic order & trade practices. Business travel insurance provides insurance cover for business trips of a customer or an organization and other many services. Additionally, it provides dismemberment benefits and accidental death coverage for employees who are traveling for their company’s business. The growth of the business travel market is driven by huge investments made by regional governments.
The market study is being classified and major geographies with country level break-up.
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Business Travel Insurance market throughout the predicted period.
Assicurazioni Genarali (Italy), Allianz (Germany), Seven Corners (United States), Travel Safe Insurance (United States), USI Insurance Services (United States), MH Ross Travel (United States), American International Group (United States), AXA Group (France), Chubb (United States) and Insure and Go Insurance Services Ltd. (United Kingdom) are some of the key players profiled in the study.
AdvanceMarketAnalytics has segmented the market of Global Business Travel Insurance market by Type, Application and Region.
On the basis of application, Corporation segment is dominating the market in the year 2018
On the basis of geography, the market of Business Travel Insurance has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
On 22nd July 2019, Seven Corners Inc., innovative international travel insurance and specialty benefit management company, today announces the launch of their new “Adventure Team” program. This data-backed initiative includes a unique digital community for travelers to connect and share experiences and educational information about travel insurance and how it works. and On 5th February 2019, Europ Assistance, part of Generali Group, announces that it has acquired from Arthur J. Gallagher a 100% stake of Trip Mate, a managing general agent leader in the tour operator travel insurance market in the United States.
On 29th August 2018, Allianz Partners has announced the launch of three new innovation centers focusing on travel, health, and assistance.
- Growing Demand for Multi-Trip Policies
- The Rise in Incidence of Loss of Luggage due to the Increase in Tourist Arrivals Acts
- Expansion Of Overseas Business
- Significant Growth in Number of Business Trip
- High Adoption of Business Travel Insurance in Enterprises
- Travel Insurance is Mandated to Obtain VISA in Countries such as the U.S., France, Belgium, and Others
- Increase in Global Safety Concerns
- Lack of Awareness towards Business Travel Insurance among Consumers
- Stringent Regulations towards Travel Insurance
Key Target AudienceBusiness Travel Insurance Providers, Government Regulatory Bodies, Government Research Organizations, Private Research Organizations and Others
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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