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Corporate Travel Insurance Market 2017-2024 Strategic Opportunities and Trend Analysis

01-14-2020 01:40 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Kenneth Research

Corporate Travel Insurance Market 2017-2024 Will Grow At A CAGR of 8.6%

Corporate Travel Insurance Market 2017-2024 Will Grow At A CAGR of 8.6%

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.

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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.

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.

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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.

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
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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.

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.

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Contact Us

Kenneth Research

Email: Sales@kennethresearch.com

Phone: +1 313 462 0609

About Kenneth Research:

Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products’ demand, growth and opportunities for new and existing players.

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