Global Business Travel Accident Insurance Market Overview:
A travel accident insurance is a specialized type of travel insurance plan. It acts as life insurance and it is an insurance against accidental death and dismemberment in the case of a travel accident. The benefits are paid regardless of whether the traveler has other AD&D coverage and life insurance. Moreover, some of the insurance plans also cover emergency medical expenses. Limited insurance plans give the maximum reimbursements range to choose from and several are designed specifically for the regular business traveler and include coverage for non-medical emergency evacuations. Business travel accident insurance is an important benefit for many companies, particularly those with employees who frequently travel internationally on company business. According to AMA, the Global Business Travel Accident Insurance market is expected to see growth rate of 9.3%
- The Rapidly Rising International Trade
- The Growing Expansion of Businesses Globally
- Lack of Guidance of Business Travel Accident Insurance
- High Premium of Business Travel Accident Insurance
- Growing Awareness among Small Organizations to Protect Their Employees
- Addition of Attractive Features to the Plans by Insurance Companies
Some of the key players profiled in the report are Assicurazioni Generali (Italy), MetLife, Inc. (United States), Nationwide Mutual Insurance Company (United States), Zurich Insurance (Switzerland), AWP (Australia), AXA (France), American International Group (United States), Chubb Limited (United States), Tokio Marine Holdings (Tokyo) and Woodward Markwell Insurance Brokers (United Kingdom). Additionally, following companies can also be profiled that are part of our coverage like The Hartford (United States), Tata AIG General Insurance Company Limited (India) and Starr International Company (Bermuda). Analyst at AdvanceMarketAnalytics see United States Players to retain maximum share of Global Business Travel Accident Insurance market by 2024. Considering Market by Distribution Channel, the sub-segment i.e. Insurance Company will boost the Business Travel Accident Insurance market. Considering Market by End User, the sub-segment i.e. Corporations will boost the Business Travel Accident Insurance market.
On 24 Jan 2019, Zurich Insurance, a top three provider of travel insurance internationally, has announced the launch of Zurich Travel Insurance, a new travel protection proposition for Canadians traveling abroad. Coverages are available for emergency medical and dental care, trip cancellation and interruption, baggage loss and damage, flight and travel accident, and 24/7 travel assistance services.
On 31 Oct 2018, Generali has launched a new business travel insurance and assistance solution, helping employers meet their duty of care responsibilities. This comprehensive product offers a range of multilingual global assistance services on a 24/7 basis, as well as all the key cover that employers and employees expect when traveling.
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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The top-down and bottom-up approaches are used to estimate and validate the size of the Global Business Travel Accident Insurance market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Business Travel Accident Insurance market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Business Travel Accident Insurance Provider, Agents, Brokers, Traders, Industry Associations, Regulatory Bodies, Government Bodies and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.