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Group Travel Insurance

Overview

ProcurementIQ’s Procurement Research Reports cover thousands of indirect purchasing lines. Our data and analysis help you strategically engage and negotiate with suppliers and give you the credibility to work with internal stakeholders and executives. ProcurementIQ’s Group Travel Insurance procurement research provides price trends and forecasts, supplier benchmarks and negotiation questions all intended to give your company leverage during the sourcing process.
doneBenchmark Price
doneRFP/RFQ/Negotiation Questions
done3 Year Price Forecast
doneSupply Chain Analysis
doneSupplier Intelligence
doneSample Buyer Decision Scorecard
REPORT SNAPSHOT

Group Travel Insurance - Recent Price Trend

In the three years to 2018, the price of group travel insurance has risen an estimated 0.2 percentage points to 10.7% of the trip cost per person, bolstered by rising demand for travel insurance. For example, the number of international trips by US residents has been increasing during the past three years, especially as an appreciating US dollar has made trips abroad relatively cheaper.

Group Travel Insurance - Total Cost of Ownership

The total cost of ownership for group travel insurance is medium. Although buyers pay a relatively small premium to hedge against the financial losses from a travel-related incident, buyers should be mindful of the costs associated with subpar group travel insurance policies, namely the deductible amount and the coverage limit.In general, a cheaper insurance policy entails a higher deductible,.

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About this Report

This report is intended to assist buyers of group travel insurance. A group travel insurance policy covers a group of people on the same travel itinerary. Organizations of all sizes procure group travel insurance policies for both domestic and international trips to hedge against any financial losses that could occur during a trip. Policies cover a range of travel-related incidents depending on buyers' needs, including trip cancelations, medical expenses and losses of baggage or belongings. This report does not cover health insurance, dental insurance or other types of property and casualty insurance.

Table of Contents

At a Glance

Executive Summary

Price Environment
 Price Fundamentals
  Benchmark Price
  Pricing Model
 Price Drivers
 Input Cost Drivers
 External Demand Drivers
 Recent Price Trend
 Price Forecast

Product Characteristics
 Product Life Cycle
 Total Cost of Ownership
 Product Specialization
 Related Goods
 Subsitute Goods
 Regulation
 Quality Control
Supply Chain & Vendors
 Supply Chain Dynamics
  Supply Chain Risk
  Geographic Locations
  Imports
 Competitive Environment
  Market Share Concentration
  Vendor Company Types
 Market Profitability
 Switching Cost

Purchasing Process
 Buying Basics
 Buying Lead Time
  Selection Process
  Buying-Decision Scorecard
 Key RFP Elements

Negotiation Questions

Buyer Power Score Components

Jargon & Glossary

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