Business and Corporate Travel Insurance Market Introduction
Nowadays, businesses are not limited to any state or country. Number of companies across various end user verticals have crossed international borders to explore the international opportunities and cement their position in the emerging markets. With globalization, business organizations are constantly working towards making their presence felt across the globe. In addition, to improve customer experience and overall business performance enterprises keep their business leaders to visit their offices and facilities located worldwide. Business and corporate travel insurance offers travel insurance to employees of a company and cover the person against emergency expenses incurred when they are on business trip. In the past few years, it has been observed that enterprises across verticals are inclined towards offering business and corporate travel insurance to their employees on a business trip. As it allows the enterprises to perform its responsibility and at the same time its increases the employee’s satisfaction level.
Significant increase in number of international trips for business purposes in the last few years have up-lifted the adoption of business and corporate travel insurance policies among enterprises. Further, increase in number of price comparison websites has increased the competition among business and corporate travel insurance policy providers and driven the premium lower. In addition, increase in number of multi-trip policies is accelerating the market both in terms of value and volume. Moreover, expansion in overseas business, introduction stringent regulation to mandate travel insurance are some of the major factors that are boosting the market growth.
The business and corporate travel insurance market is segmented into insurance cover, type of user, distribution channel, and region.
Based on insurance cover, the business and corporate travel insurance market includes annual multi-trip travel insurance and single trip travel insurance. By type of user, the market is segmented into B2B, B2C, and B2B2C. Distribution channel includes independent intermediaries/ brokers (national brokers, chain brokers and telebrokers, and others), company agents, utilities, retailers and affinity groups, banks, and others. Based on region, the global business and corporate travel insurance market is segmented into North America, Western Europe, Eastern Europe, Latin America, Asia-Pacific, and Middle East and Africa.
Business and Corporate Travel Insurance Market Competitive Landscape
Key players analysed in the global business and corporate travel insurance market are Europeesche, AIG, Allianz, Nationale-Nederlanden, Achmea, Unigarant (ANWB), Delta Lloyd, Chubb, De Goudse, REAAL, American International Group, USI Insurance Services LLC, and Seven Corners Inc.
Major Regions/Countries include:
- Western Europe
- United Kingdom
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific (APAC)
- Rest of Asia-Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa (MEA)
- North Africa
- South Africa
- Rest of MEA
This research report on business and corporate travel insurance market would be produced using first-hand market information gathered from industry experts and major participants across the value chain, during primary research. It would provide broad view of current market trends, growth factors and competitive analysis.