LONDON--(BUSINESS WIRE)--SpendEdge, a global procurement market intelligence firm, has announced the release of their Global Travel Insurance Industry - Procurement Market Intelligence Report.
The spend momentum of this industry is primarily attributed to the steep rise in the number of business travelers owing to the rise in spend on business travel by corporate buyers. The business travelers’ segment is currently holding the largest share in the overall revenue generation of the global travel insurance industry and is predicted to grow at a CAGR of about 5.5% during the forecast period. Emergence and the subsequent popularity of online booking channels that offer lucrative options for service providers who get to combine travel insurance with travel tickets are also boosting the growth prospects of the service providers in the travel insurance industry. Request a Free Sample of this travel insurance industry procurement market intelligence report here!
North America and APAC are among the dominating regions within the travel insurance industry. An increase in the number of outbound and inbound business travelers is accounting for the demand growth of this industry in North America. The availability of online booking channels in North America and APAC is resulting in the rise of business travelers from the corporate sector who are creating substantial demand for travel insurance policies, thereby driving the category spend momentum in these regions.
Insights offered in this travel insurance industry procurement market intelligence report include supply market forecasts, major cost drivers, and category management insights. Such insights are relevant for both the buyers and the suppliers who seek a risk-free and a cost-effective procurement strategy. The category spend segmentation done in this market intelligence report will guide the investors in identifying the best investment areas as well as help them in identifying cost-saving opportunities in the market. Get free customization of this travel insurance industry procurement market intelligence report to get information tailored to your every requirement.
“An in-depth assessment of the cost components of coverage such as medical expense and AD&D will help buyers determine the cost-effectiveness of the insurance policy,” says SpendEdge procurement expert Tridib Bora.
This travel insurance industry procurement market intelligence report has estimated the following cost drivers to influence the category growth in the coming years:
- High demand for multi-trip segment will drive the category growth
- Increasing technology adoption will lead to category price growth
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SpendEdge’s procurement market intelligence reports for the financial services category provide detailed supply market forecasts and cost drivers that impact category growth. Such information will help procurement managers as well as the suppliers to determine the total cost of ownership and change their procurement strategies accordingly. Additionally, SpendEdge’s reports provide category management insights and information on the procurement best practices for the category.
Report scope snapshot: Travel insurance
Category pricing insights
- Pricing outlook
- Total cost of ownership analysis
- Supplier cost structure
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- Supplier-side levers
- Buyer-side levers
- Quantifying cost savings by negotiation strategies
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- Competitiveness index for suppliers
- Buyer power
- Supplier power score
- To view the table of contents of this market intelligence report, Download a FREE sample
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