Global Corporate Travel Insurance Market (2017-2024)- Research Nester

Corporate travel insurance is an insurance that is meant to cover medical expenses and others losses incurred while doing business travel. Corporate travel insurance includes an extensive range of benefits for various events such as trip cancellation, loss of baggage, evacuation due to medical conditions and others.

Market Size and Forecast

The corporate travel insurance market is showcased to witness a robust growth during the forecast period 2017-2024. The market is anticipated to flourish at a CAGR of 8.6% over the forecast period. Increase in business travels is expected to foster the growth of corporate travel insurance market across the globe.

Geographically, Europe region accounts for the largest market share in global corporate travel insurance market       followed by Asia-Pacific.

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Moreover, Europe is anticipated to continue its dominance over the forecast period owing to recent terror attacks in France, Germany, and other European countries. Moreover, rise in number of business travelers with high travel spending is expected to garner the growth of corporate travel insurance market in this region. Germany and France is likely to capture the largest market share in European corporate travel insurance market.

Asia-pacific is anticipated to maintain second position over the forecast period. The major countries witnessing the increased demand for corporate travel insurance include China, Korea and Japan. North America region is also witnessing a positive corporate travel insurance growth and is expected to witness the significant growth over the forecast period. Further, in North America, enhanced travel options and advanced technological access have made business traveler’s access to insurance companies easier, thereby escalating the adoption rate of corporate travel insurance.

Market Segmentation

Our in-depth analysis segmented the global corporate travel insurance market in the following segments:

By Insurance

Single trip travel insurance

Annual multi-trip travel insurance

Long-stay travel insurance

By Distribution Channel

Bank

Insurance company

Insurance intermediaries

Insurance broker

Others

By Region

Global corporate travel insurance market is further classified on the basis of region as follows:

North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis

Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis

Western and Eastern Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Western Europe) Market size, Y-O-Y growth & Opportunity Analysis

Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, South Korea &Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis

Middle East and North Africa (MENA) Market Size and Y-O-Y Growth Analysis

Growth Drivers and Challenges

Increase in expansion of business across the globe coupled with rising business travelers is anticipated to foster the demand for corporate travel insurance. Further, rising awareness among business travelers is anticipated to be the dynamic factor behind the rapid growth of corporate travel insurance market. Also, government regulation of several countries have made travel insurance mandatory, which is envisioned to bolster the growth of corporate travel insurance market.

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However, lack of awareness about insurance policies is believed to dampen the growth of corporate travel insurance market. Moreover, this can be attributed to various factors such as low percentage level of economic development of countries, extent of saving in financials and the reach of insurance sector.

Key players

The major key players for corporate travel insurance market are as follows

CSA Travel Protection

Company Overview

Key Product Offerings

Business Strategy

SWOT Analysis

Seven Corners

TravelSafe Insurance

USI Affinity

ACE Asia Pacific

Allianz Global Assistance

American International Group Inc.

AXA

Scope and Context

Overview of the Parent Market

Analyst View

Segmentation

The global corporate travel insurance market is segmented as follows:

By Insurance Market Size & Y-O-Y Growth Analysis

By Distribution Channel Market Size & Y-O-Y Growth Analysis

By Region Market Size & Y-O-Y Growth Analysis

Market Dynamics

Supply & Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment

To know more about this research, kindly visit: http://www.researchnester.com/reports/corporate-travel-insurance-market-global-demand-analysis-opportunity-outlook-2024/326

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