Corporate Travel Insurance Market Analysis

Insurance (Single Trip Travel Insurance, Annual Multi-Trip Travel Insurance, Long-Stay Travel Insurance)

The global corporate travel insurance market is segmented and analyzed for demand and supply by insurance into single-trip travel insurance, annual multi-trip travel insurance, and long-stay travel insurance. Out of these, the annual multi-trip travel insurance segment is projected to significantly grow over the forecast period on the back of an increasing count of corporate traveling, increasing spending on business travel, and normalizing travel restrictions after the pandemic which is adding up more such traveling. For instance, globally, business travel spending rose to nearly USD 750 billion in the year 2021.

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

By Insurance	Single-Trip Travel Insurance Annual Multi-Trip Travel Insurance Long-Stay Travel Insurance
By Coverage Type	Trip Delay Trip Cancellation Medical Expenses Property Damage Others
By Distribution Channel	Insurance Intermediaries Insurance Companies Insurance Broker Bank Others

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of corporate travel insurance is evaluated at USD 5.64 Billion.

The corporate travel insurance market size was valued at USD 4.79 Billion in 2023 and is projected to exceed USD 49.59 Billion by the end of 2036, registering over 19.7% CAGR during the forecast period i.e., between 2024-2036. Growing trend of government-mandate travel policies, rising number of external meetings and events, growing trend of online travel bookings, and escalating trend of bleisure into business trips are some major factors driving the growth of the market.

Europe is anticipated to dominate majority industry share by 2036, driven by increasing number of business travelers with high travel spending, increasing trend of travel and tourism, and significant economic growth of the region.

Seven Corners Inc., Berkshire Hathaway Specialty Insurance, TravelSafe Insurance, Assicurazioni Generali S.p.A., Trip Mate, Inc., AXA, Chubb Group Holdings Inc., Insure & Go Insurance Services Limited, Zurich Insurance Group Ltd, American International Group, Inc.

Corporate Travel Insurance Market Analysis