Chubb, A.G.A. Service Company And American International Group, Inc. Are Dominating The U.S. Business Travel Accident Insurance Market In 2020

The U.S. Business Travel Accident Insurance Market is said to grow with a CAGR of 16.4 % in the forecast period of 2021 to 2028. The years considered for the study are as are mentioned below.

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U.S. business travel accident insurance market is a highly fragmented market, which includes a number of key international players as well as local players. The market has witnessed increased strategic developments owing to favorable market scenarios.

Chubb is the dominating player in U.S. Business Travel Accident Insurance Market. The other key players existing in the market include 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. among others.

Chubb

Chubb is headquartered in Zurich, Switzerland, and was founded in 1792. The company is a global insurance and reinsurance organization which are serving the needs of a different group of clients worldwide. The company operates in business segment North America commercial P&C insurance, North America personal P&C insurance, North America agricultural insurance, overseas general insurance, global reinsurance, and life insurance, of which North America commercial P&C insurance is the market focused segment. The company offers a wide range of products categories such as individuals and families, businesses, life and health protection in which businesses is the market-focused category.

• 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

The company has a wide global presence across Europe, Americas, Asia-Pacific, and the Middle-East & Africa with its various subsidiaries such as Combined Insurance (U.S.), FEDERAL INSURANCE CO (U.S.), Insurance Company of North America (U.S.), Bellemead Development Corporation (U.S.), Chubb Capital Trust I (U.S.) among others.

A.G.A. Service Company

A.G.A. Service Company is headquartered in Illinois, U.S. The company is engaged in providing travel insurance and assistance to people anytime and anywhere. The company offers a wide range of products categories such as Plan and Claim, of which Plan is the market-focused category.

• In March 2021, Allianz Partners announced the enhancements of its travel insurance products to provide coverage to customers who become ill with COVID-19 or a future epidemic. The enhancements add epidemic-related illness as a covered reason to cancel or interrupt a trip or seek reimbursement for emergency medical care, emergency medical transportation, change fees, and loyalty points redeposit fees. Thus the company will assist the travelers whom the COVID-19 crisis had impacted

The company has a wide global presence across Europe, the Americas, Asia-Pacific, and the Middle East and Africa.

American International Group, Inc.

American International Group, Inc. is headquartered in New York, U.S., and was founded in 1919. The company is a global insurance organization that has a wide range of property-casualty insurance, life insurance, retirement solutions, and other financial services to support its clients in business. The company operates in the business segments such as general insurance, life and retirement, and other operations, of which general insurance is the market-focused segment. The company offers a wide range of products categories such as individuals and families and business & enterprise in which business & enterprise is the market focused category.

• In June 2019, A.I.G. Travel announced an educational initiative designed to boost awareness of student travel safety considerations and help the students have a safe and confident journey anywhere in the world. The initiative, encompassing the Student Travel Safety microsite, focuses on sharing practical advice, actionable tips, and helpful resources for students, their parents, study abroad organizations, universities, and other key stakeholders. With this, the company brings forward a safe-plan plan for students, mitigating risk and help ensure they enjoy travel

The company has a wide global presence across Europe, the Americas, Asia-Pacific, and Middle-East and Africa with its various subsidiaries such as American International Group, Inc. (U.S.), A.I.G. Capital Corporation (U.S.), A.I.G. Global Asset Management Holdings Corp. (U.S.), A.I.G. Asset Management (U.S.), L.L.C. (U.S.), A.I.G. Global Real Estate Investment Corp. (U.S.), among others.