Business Travel Insurance Market Size and Growth Rate:
According to our research report, the Business Travel Insurance Market size is poised to reach USD XX Billion by the end of 2023 from USD XX Billion in 2017 and this market witnessed a growth rate of XX% during the forecast period 2018-2023.
Business Travel Insurance Market Overview:
Business travel insurance provides insurance coverage for the business trips of a client or organization. In addition, it provides coverage against medical and hospital expenses related to an accident or illness, including medical evacuation if necessary, death or permanent disability, loss or delay of luggage, cancellation of flight due to weather conditions, cancellation of travel, loss of passport and other travel expenses.
Business Travel Insurance Market Growth Drivers:
The business travel insurance market is growing in popularity due to intensified international trade, business expansion abroad, rapid changes in the global economic order and business practices and the growing need to maintain relationships with the global base of customers. The increase in the number of baggage losses due to the increase in the arrival of tourists is an important factor for the market. Travel insurance is required to obtain a visa in countries such as the United States, France, Belgium and others. However, the low awareness of consumers about business travel insurance is holding back the growth of the market. Strict travel insurance regulations and a growing number of global security concerns offer lucrative opportunities for the market.
Business Travel Insurance Market Regional Existence:
Geographically, it is analyzed in North America (United States, Canada and Mexico), Europe (United Kingdom, Germany, France and the rest of Europe), Asia-Pacific (China, India, Japan and the rest of Europe) and LAMEA (Latin America, the Middle East and Africa). North America and Europe are the prominent regions in the world market for business travel insurance due to the awareness about its benefits among people and the increase in tourism industry.
Prominent Companies in the Business Travel Insurance Market analyzed in the report are:
- Assicurazioni Genarali
- Seven Corners
- Travel Safe Insurance
- USI Insurance Services
- MH Ross Travel
- American International Group
- AXA Group & Chubb
This research report includes following segmentation for the Business Travel Insurance Market size and forecast until 2023:
Business Travel Insurance Market – By Type:
Business Travel Insurance Market – By Application:
- Insurance Trade
- Insurance Company
- Insurance Broker
- Insurance Aggregator
Business Travel Insurance Market – By Geography:
- United Kingdom
- South Korea
Middle-East & Africa
Key Takeaways from Business Travel Insurance Market Report:
- For different Devices types, and applications offers calculated growth rates (CAGR %), Volume (Units), and Value ($M) in each region to estimate the Business Travel Insurance Market potential.
- Identify various driving factors, constraints and untold opportunities that can impact the Business Travel Insurance Market place.
- Know the position of your competitor based on the market shares, financial performance, strategical approaches, SWOT, product benchmarking and so on.
- Increase overall revenue by understanding the geographical impact on sales and distribution channels.
- Evaluate the increase in values at each step of the industry supply chain to improve process efficacy and optimize the value.
- Understand the market dynamics of leading players like deals, partnerships, new products, mergers and acquisitions in the last four years.
- Estimate the gaps in supply-demand, statics involved in import-export, and regulatory framework of the worldwide Business Travel Insurance Market in over 20 top nations.