U.S. Business Travel Accident Insurance Market is growing with factors such as demand for insurances with COVID-19 coverage. Rising international trade and global expansion are contributing to the growth of the U.S. business travel accident insurance market to a greater extent.
U.S. Business Travel Accident Insurance Market Scenario
According to Data Bridge Market Research, the market for U.S. business travel accident insurance in the U.S. has the highest market share. The market leader of U.S. business travel accident insurance is Chubb, with the largest market share of 14.74%, followed by A.G.A. Service Company (Subsidiary of Allianz Partners) 14.38%, American International Group, Inc. 9.98%.
- In October 2020, Chubb announced the launch of a new online accident insurance product for individuals and families. The new product provides access to extra insurance coverage and the ability to shop and purchase it virtually. The company has also provided its customers with flexible purchasing and servicing options such as offline, online, and via mobile. Thus the company has provided its customer with online purchase options starting from accident products
- In July 2021, American Express announced that their U.S. Platinum and Business Platinum Card members would have access to even more airport lounges and premium amenities when they travel. The members will be provided with world-class travel and lifestyle services and will also have access to exclusive travel programs, benefits, and offerings. With this, the company is baking their card-members to start their return to travel
Trends Impacting The Market
The U.S. business travel accident insurance market is becoming more competitive with companies like Chubb, A.G.A. Service Company (Subsidiary of Allianz Partners), American International Group, Inc., AXA ASSISTANCE USA INC, The Hartford, and American Express, among others. These are the top dominating companies in the business travel accident insurance market and have launched advanced services and solutions in the market. The data bridge market research new reports highlight the major growth factors and opportunities in the U.S. business travel accident insurance market.
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U.S. Business Travel Accident Insurance Market Developments
- In March 2021, Generali Global Assistance & Insurance Services announced that they would be supporting smart vaccination and digital health pass initiatives by adding custom options to their Travel Insurance offerings. The initiatives will allow travelers to verify their coverage prior to their departure and will give them an opportunity to update certain coverage limits, such as medical coverage, in accordance with the destination country's requirements. With this, the company will be able to provide a seamless travel experience to their customers
- In June 2020, Berkshire Hathaway Specialty Insurance's brand Berkshire Hathaway Travel Protection announced the launch of ExactCare Lite, new travel insurance that is made for road trip travelers. It can protect non-refundable lodging reservations and attraction tickets, also the trip disruption caused by traffic accidents. With this, the company has provided protection for drive vacations and mishaps most likely to occur on road trips
Scope of the U.S. Business Travel Accident Insurance Market
All country-based analysis of the U.S. business travel accident insurance market is further analyzed based on maximum granularity into further segmentation. The U.S. business travel accident insurance market is segmented into seven notable segments which are based on the type, user type, distribution channel, coverage, policy type, business size, and end-user.
- On the basis of type, the U.S. business travel accident insurance market is segmented into single trip coverage, annual multi-trip coverage, and others. On the basis of user type, the U.S. business travel accident insurance market is segmented into B2B, B2C, and B2B2C. On the basis of distribution channels, the U.S. business travel accident insurance market is segmented into the insurance company, banks, insurance brokers, insurance aggregators, and others. On the basis of coverage, the U.S. business travel accident insurance market is segmented into accidental medical, accidental death, accidental dismemberment, out-of-country medical, emergency medical evacuation, security evacuation, and others. On the basis of policy type, the U.S. business travel accident insurance market is segmented into local policies, global policies, and controlled master programs. On the basis of business size, the U.S. business travel accident insurance market is segmented into large businesses (more than 500 employees), mid-size businesses (10 - 500 employees), and small businesses (2 - 10 employees). All the segments are further divided into accidental medical, accidental death, accidental dismemberment, out-of-country medical, emergency medical evacuation, security evacuation, and others. On the basis of end-user, the U.S. business travel accident insurance market is segmented into corporate, government, and international travelers and employees (ex-pats).
To know more about the study contact https://www.databridgemarketresearch.com/jp/reports/us-business-travel-accident-insurance-market
Key Pointers Covered in U.S. Business Travel Accident Insurance Market Industry Trends and Forecast to 2028
- Market size
- Top to bottom market analysis
- Recent developments for market competitors
- Recent market value for different countries
- Market value and overview of business travel accident insurance market
- Company profiling of top eight players of business travel accident insurance market
Key Market Competitors Covered in the Report
- Chubb
- A.G.A. Service Company (Subsidiary of Allianz Partners)
- American International Group, Inc.
- AXA ASSISTANCE USA INC
- The Hartford
- American Express Company
- Arch Insurance Company (Subsidiary of Arch Capital Group Ltd.)
- Berkshire Hathaway Specialty Insurance (Subsidiary of Berkshire Hathaway Inc.)
- Generali Global Assistance & Insurance Services, Company (Subsidiary of ASSICURAZIONI GENERALI S.P.A.)
- Insubuy, L.L.C.
- International Medical Group, Inc.
- MetLife Services and Solutions, L.L.C.
- Tokio Marine H.C.C. (Subsidiary of Tokio Marine Holdings, Inc.)
- Travel Insured International
- Travelex Insurance Services Inc.
- VisitorsCoverage Inc.
Above are the key players covered in the report. To know more about an exhaustive list of U.S. business travel accident insurance market companies', contact us https://www.databridgemarketresearch.com/jp/toc/?dbmr=us-business-travel-accident-insurance-market
Research Methodology: U.S. Business Travel Accident Insurance Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or can drop down your inquiry.
The key research methodology used by the DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market timeline analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis, and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Primary Respondents
- Demand Side: Manufacturer, Healthcare Industry, Scientists, Research Laboratories
- Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers, among others.
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