According to TechSci Research, United States business travel insurance market is expected to grow at a formidable rate during the forecast years. The United States business travel insurance market is driven by the growing international trade and expansion of businesses overseas. Additionally, rising number of international travels in order to maintain worldwide client relations is expected to spur the market during the next five years. Furthermore, United States has a travel insurance mandate to obtain VISA thereby driving the market in the country.
The United States business travel insurance market is segmented based on type of user, insurance cover, distribution channel, company and region. Based on distribution channel, the market can be fragmented into bank, insurance company, insurance intermediaries, insurance broker, insurance trade, insurance aggregator and others. The insurance company segment is expected to register the highest growth during forecast years. This can be accredited to the growing number of collaborations with enterprises and online travel agents (OTA). Additionally, the development of advanced technology solutions for the corporates has led the insurance companies to be the fastest growing segment among other distribution channels.
Major players operating in the United States business travel insurance market include Seven Corners Inc., Travel Safe Insurance, USI Insurance Services LLC, MH Ross Travel Insurance Services Inc., American International Group, Inc., Chubb Ltd., Search Results, CSA Travel Protection, MetLife, Inc, Allianz and others. The companies are developing advanced technologies and launching new services in order to stay competitive in the market.
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Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022–2026
Objective of the Study:
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of service providers across the region. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the service providers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the service providers, distribution channels and presence of all major players across the region.
TechSci Research calculated the market size of United States business travel insurance market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
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Key Target Audience:
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service provider companies and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, United States business travel insurance market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
o Single trip travel insurance
o Annual multi-trip travel insurance
o Long-stay travel insurance
o Bank
o Insurance company
o Insurance intermediaries
o Insurance broker
o Insurance Trade
o Insurance Aggregator
o Others
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in United States business travel insurance market.
About TechSci Research
TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.
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