Mercado de seguros de acidentes de viagens de negócios dos EUA – Tendências e previsões do setor para 2030

Análise e dimensão do mercado de seguros de acidentes de viagens de negócios nos EUA

O seguro de viagem de negócios é muito útil para as organizações que enviam os seus colaboradores para diversos locais para fins comerciais. Para segurança dos colaboradores, diferentes organizações, sejam elas pequenas ou grandes empresas, adquirem diferentes apólices, como seguros de saúde , seguros de viagem e outros, à seguradora. Além disso, muitas pessoas vão de férias ou de férias uma vez por ano para se divertirem com a família e amigos, o que faz crescer a procura por seguros de viagem no mercado.

A Data Bridge Market Research analisa que o mercado de seguros de acidentes em viagens de negócios dos EUA deverá atingir um valor de 8.487,86 milhões de dólares até 2030, com um CAGR de 17,0% durante o período de previsão.

Definição de mercado

Every business trip is an investment for any company to grow and expand its business. The company must have employees at the client’s place to understand their processes, operation, and implementation. The perils of this investment can be lost baggage and passports, personal accidents, and even a hospital stay in a strange land. The protection is designed to minimize the risk and potential loss of an employee and compensate their families for their loss of income due to the accidental death or permanent disability of an employee.

U.S. Business Travel Accident Insurance Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of this is discussed in detail below:

Drivers

• Increase in Demand for Travel Insurance with COVID-19 Coverage

The pandemic has restricted people from traveling from one place to another due to the lockdown. As the lockdown restriction is lifted, people are ready to travel for their business purpose or enjoy vacations. But people are concerned about their health safety, which has raised the demand for COVID-19 coverage in their travel insurance. The companies offer insurance plans with COVID-19 coverage, including a quarantine stipend, travel cancellation if they test positive, medical care, and others to cater to the customers' demands.

For instance,

• In June, PwC’s COVID-19 Consumer Insurance and Retirement Pulse Survey uncovered that people are moving to have a long-term benefit policy. It was also found that 15% of survey takers say they want to purchase life insurance due to COVID-19, and 37% fear that the pandemic may impact their retirement plan financially.

Increase in Demand for Online Platforms to Purchase Insurance

Last year, staying-at-home customers' preference for online purchases of travel increased tremendously, which has led to the rise in demand for an online platform to buy insurance. Also, the online platform helps them compare different plans while purchasing, and it needs less time without moving physically, so consumer preference has changed to the online channel. To cater to this rising demand for online platforms, companies are either coming up with their website or partnering with different companies to provide their customer with online services.

• Rise in International Trade and Business Expansion Globally

Globalization has increased the integration of the world economy through the rise of international trade. Thus, both consumers and companies can now choose from a broader range of products and services. Also, many companies are expanding their geographical reach by investing in foreign companies and setting up their branches in other countries. They have to travel from one place to another numerous times to expand their business and look into the flow of operations. Many insurance companies are coming up with different plans such as multi-trip travel protection plans to help their clients for necessary coverage. Also, the companies are coming up with a plan which can provide them with complete travel safety.

RESTRAINTS

• Low Consumer Experiences in Terms of Coverages

As most consumers have less experience regarding coverage and benefit they may get, they do not buy travel insurance. Also, due to the high premiums of the insurance, customers mostly do not buy this policy. The lack of awareness about the insurance cost and its coverage benefit has hindered the market growth.

For instance,

• A study done by Wonderflow shows that the insurance industry struggles with a reputation issue. Customers feel distant from the insurance company as they are often believed to be self-interested and opportunistic. Because of the customer's opinion, nearly 44% of customers have had no interactions with their insurers in the last 18 months. Also, about 40% of the insurance customer are dissatisfied with the company’s services

Lack of Guidance Towards Business Travel Accident Insurance

Most of the people who travel abroad lack guidance about the benefits and coverage provided by the travel insurance company. They often do not even know that travel benefits such as trip cancellation coverage, emergency medical coverage, and many more. People mostly do not purchase insurance policies as they are not aware of the company's benefits, which is expected to restrain market growth.

For instance,

• Research conducted by BioMed Central Ltd shows that approximately 20–30% of travelers lack awareness about Emergency Medical Assistance Services (EMAS), and the percentage of travelers who have previously received medical assistance through these services is extremely low. Also, it was found that less than 5% of respondents had a previous experience with EMAS

Thus, the lack of guidance and awareness about the benefits of travel insurance plans is expected to restrain market growth

CHALLENGE

• Rise in Concern Regarding Data

Big Data has become an inherent part of the sector across the globe to provide personalized experiences to the customer. More and more data about every person is being generated faster and faster from different devices. However, the increased data sharing and usage have given rise to cyber-risks about consumers' data privacy. To achieve greater customer loyalty, companies should protect the customers' data and have transparent communication with the customers. But due to the rising demand of consumers to have custom insurance policies, data sharing has increased. While having custom-made police for themselves, customers have to provide their data such as their medical records, personal details, and many more. This information is stored in cloud-based storage, which a hacker can hack, which became a major challenge to market growth.

OPPORTUNITIES

• Rise in Attractive Features to the Insurance Plan by Companies

Many companies have different ideas to attract more customers and boost the industry after the lockdown. They are adding different features to their existing plan or coming up with new policy plans to attract customers. The companies give the customer access to different benefits such as providing premium amenities while traveling or adding a custom option to the policies.

For instance,

• 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. This member will be provided with world-class travel and lifestyle services and access to exclusive travel programs, benefits, and offerings. With this, the company is baking their card member to start their return to travel

Rise in Safety Concerns Among the People

The spread of coronavirus has made travelers very concerned about their health, leading to a rise in demand for travel insurance containing medical benefits. To cater to this demand, many companies are coming up with different benefits in their policies that can provide medical protection when in an emergency.

For instance,

• In July 2021, Generali Global Assistance announced that they have partnered with FootprintID to enhance its Trip Mate Travel Protection Plans. The partnership will allow travelers with Trip Mate protection plans to have access to FootprintID’s Portable Personal Health Records, which allow them to take their medical information with them anywhere. With this, the company will be able to elevate its level of care for its clients

U.S. Business Travel Accident Insurance Market Scope

O mercado de seguros de acidentes em viagens de negócios dos EUA está segmentado em sete segmentos notáveis ​​com base no tipo, tipo de utilizador, canal de distribuição, cobertura, tipo de apólice, tamanho do negócio e utilizador final. O crescimento entre estes segmentos irá ajudá-lo a analisar os principais segmentos de crescimento nas indústrias e fornecer aos utilizadores uma valiosa visão geral do mercado e insights de mercado para os ajudar a tomar decisões estratégicas para identificar as principais aplicações do mercado.

Tipo

• Cobertura de viagem única
• Cobertura anual multiviagens
• Outros

Com base no tipo, o mercado está segmentado em cobertura de viagem única, cobertura anual de múltiplas viagens, entre outros.

Tipo de utilizador

• B2B
• B2C
• B2B2C

Com base no tipo de utilizador, o mercado está segmentado em B2B, B2C e B2B2C.

Canal de distribuição

• Companhia de seguros
• Banco
• Corretores de seguros
• Agregadores de Seguros
• Outros

Com base no canal de distribuição, o mercado está segmentado em seguradoras, bancos, corretores de seguros, agregadores de seguros, entre outros.

Cobertura

• Morte Acidental
• Desmembramento Acidental
• Médico Acidental
• Médico fora do país
• Evacuação de segurança
• Evacuação Médica de Emergência
• Outros

Com base na cobertura, o mercado está segmentado em médico acidental, morte acidental, desmembramento acidental, médico fora do país, evacuação médica de emergência, evacuação de segurança, entre outros.

Tipo de política

• Políticas Locais
• Políticas Globais
• Programa Mestre Controlado

Com base no tipo de política, o mercado está segmentado em políticas locais, políticas globais e programa mestre controlado.

Tamanho do negócio

• Grandes empresas (mais de 500 colaboradores)
• Empresas de média dimensão (10 a 500 colaboradores)
• Pequenas empresas (2 a 10 colaboradores).

Com base na dimensão da empresa, o mercado está segmentado em grandes empresas (mais de 500 colaboradores), empresas de média dimensão (10 a 500 colaboradores) e pequenas empresas (2 a 10 colaboradores).

Utilizador final

• Corporativo
• Governo
• Viajantes e funcionários internacionais (EXPATS)

Com base no utilizador final, o mercado está segmentado em viajantes e funcionários corporativos, governamentais e internacionais (EXPATS).

Análise do cenário competitivo e da quota de mercado de seguros de acidentes de viagens de negócios nos EUA

O panorama competitivo do mercado de seguros de acidentes em viagens de negócios nos EUA fornece detalhes dos concorrentes. Os detalhes incluídos são a visão geral da empresa, finanças da empresa, receitas geradas, potencial de mercado, investimento em investigação e desenvolvimento, novas iniciativas de mercado, presença na Ásia-Pacífico, localizações e instalações de produção, capacidades de produção, pontos fortes e fracos da empresa, lançamento de produtos, largura e amplitude do produto e domínio da aplicação. Os dados acima fornecidos estão apenas relacionados com o foco das empresas no mercado.

Alguns dos principais players que operam no mercado de seguros de acidentes em viagens de negócios dos EUA são a AXA Partners USA SA, Travel Insured International, Arch Capital Group Ltd., GENERALI GLOBAL ASSISTANCE, Travelex Insurance Services Inc., VisitorsCoverage Inc, Berkshire Hathaway Speciality Insurance, AGA Service Company, MetLife Services and Solutions, LLC, Chubb, American Express, Tokio Marine HCC, The Hartford, American International Group, Inc., Insubuy, LLC e International Medical Group, Inc (uma subsidiária da SiriusPoint Ltd.), entre outros.

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