Procurement Market Intelligence Report
Group Travel Insurance
Sourcing Guide & Market Intelligence
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Group Travel Insurance Global Overview
Definition
Summary
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. Key buyers include commercial businesses, educational institutions, religious organizations, and consumers.
This Report Includes:
- Emergency Travel Protection
- Trip Cancellation Coverage
Not in this Report:
- Health Insurance
- Dental Insurance
- Property & Casualty Insurance
Global Group Travel Insurance Market - Suppliers by Region
| Country/Region | Number of Suppliers |
|---|---|
| #1 China | 140 |
| #2 Europe | 130 |
| #3 United States | 95 |
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2
Geography Drilldown - US
Average Cost of Group Travel Insurance
United States
2026 Market Pricing$4.00 to $XX.XX
of trip costAverage Price
Prices in the Group Travel Insurance market range from $4.00 to $XX.XX, depending on Breadth of Coverage, Destination, Length of Trip, Ages of Travelers and Number of Travelers. For example, lower prices are associated with Coverage for trip cancellations or trip delays, Coverage for lost or damaged baggage and Coverage for emergency evacuations or medical expenses, whereas higher prices are associated with Riders for rental car coverage or canceling for any reason and More comprehensive policies.
Need the scoop on international price trends?
Between our Europe and Canada collections, we provide price data for 350 markets so you can instantly compare prices across borders. Or, use our custom research services for intel on prices in any region across the globe.
Group Travel Insurance Category Price Trends
Pricing trends are indicated by the compound annual growth rate (CAGR) during a set period of time. For the Group Travel Insurance market, prices in the US have grown 0.5% from 2022 to 2025. Subscribers can access price trend forecasts, price driver projections and forward-looking cost structure data. Learn more
United States (2022-2025)
United States (2025-2028)
Compound Annual Growth Rate
Wondering where prices are heading?
Price trend forecasts are available to subscribers, along with price driver projections and forward-looking cost structure data.
Cost Analysis - Total Cost of Ownership for Group Travel Insurance
Total cost of ownership is Medium in the Group Travel Insurance market. The average cost of ownership differs depending on the contract but generally includes costs negotiated before the contract begins, costs billed during the contract period and unforeseen costs. For example, unforeseen costs in the form of Emergencies may raise the total cost of ownership unexpectedly.
Negotiated Before
Set Up Fees
Billed During
Additional Fees
Unforeseen
Emergencies
Buyer Power in Procurement Negotiations
In 2026, buyer power amounts to 1.0 in the United States. Buyer power is most positively impacted by Availability of Substitutes. It is most negatively impacted by Recent Price Volatility. Subscribers can access details on eight other factors that impact buyer power. Learn more
United States
Buyer power forecasts: your glimpse into the future
Develop strategies for the upcoming year and identify unforeseen opportunities for buying now
- Actionable "Buy Now" and "Buy Later" insights
- Near-real-time updates to current and forecast Buyer Power Scores
- Methodology and weightings for Buyer Power Score Components
Supply Chain Risk
The average level of supply chain risk is assessed as Medium, which has a negative impact on buyer power. The level of supply chain risk is affected by industry volatility, barriers to entry, competition, import penetration, regulation and industry financial risk. Buyers in this market can mitigate procurement and supply chain management risks by monitoring risk levels for individual first and second tier suppliers:
1st
Tier Suppliers
- Copier & Office Equipment Wholesalers
- Reinsurance Carriers
- Computer & Packaged Software Wholesalers
2nd
Tier Suppliers
- Copier & Optical Machinery Manufacturers
- Portfolio Management Firms
- Insurance Brokers & Agencies
- Computer Peripheral Manufacturers
Biggest Group Travel Insurance Suppliers in the US by Revenue
The largest Group Travel Insurance vendors by revenue in the US are AXA AS, Arch Capital Group Ltd. and American International Group, Inc. Subscribers can sort and filter by market share concentration, profit level and other factors. Learn more
| Supplier | Operational Size | Headquarters | Number of Employees | Market Share (%) | Market Share Performance (3yr trend) | Total Revenue ($ million) | Profit Level (%) | Risk Level |
|---|---|---|---|---|---|---|---|---|
| Allianz Se | Global | Munich, DE | >10,001 | 5-10 | ||||
| Tokio Marine Holdings, Inc. | Global | Tokyo, JP | >10,001 | < 5 | ||||
| Berkshire Hathaway Inc. | Global | Omaha, NE | >10,000 | < 5 | ||||
| Zurich Insurance Group Ltd. | Global | Zurich, CH | >10,001 | < 5 | ||||
| Chubb Ltd | Global | ZURICH | >10,000 | < 5 | ||||
| American International Group, Inc. | Global | NEW YORK, NY | >10,000 | < 5 | ||||
| Arch Capital Group Ltd. | PEMBROKE | 1,001-10,000 | < 5 | |||||
| AXA AS | NEW YORK, NY | 1,001-10,000 | < 5 | |||||
| Hub International Ltd | International | Chicago, IL | >10,000 | < 5 | ||||
Looking for a list of suppliers by country?
Subscribers can access vendor information on Canadian and European suppliers, too. We also offer custom research services to help with vendor sourcing anywhere in the world.
Profit Analysis
The average profit margin across vendors in the Group Travel Insurance market is 13.2% and steady. Profit levels shift depending on suppliers' spend on wages, purchases and overhead. The highest cost component for vendors is Overhead. The cost trend for this component is stagnating, when considering movement between 2025 and 2026. To understand cost forecasts for 2027 and uncover the implications on profit, start your subscription. Learn more
Vendor & Supply Chain Analysis
Group travel insurance providers face low financial risk, mainly due to high-profit margins. Financial stability ensures that the insurer sustains the continuity of operations throughout the contract's life, which eliminates the risk of unexpected service disruptions for buyers.
There is low market share concentration among group travel insurers in the United States; the top four players account for less than 30.0% of total market revenue. This means that no single insurer can exert control over the market for group travel insurance, which forces operators to compete intensely in terms of pricing to garner clients.
Vendors of group travel insurance source inputs from many upstream suppliers, including copier and office equipment wholesalers, reinsurance carriers, and computer equipment wholesalers. Although vendors contend with a moderate level of risk in the supply chain, these risks rarely affect the price of group travel insurance or the availability of insurance policies.
The United States is a net importer of computers, meaning it imports more computers than it exports. While lower manufacturing costs abroad drive down prices for imported computers, relying on imports can lead to potential shortages or price increases if there are supply chain disruptions due to geopolitical tensions, trade disputes, or global crises.
Supplier Information
Allianz Se
Allianz Se is a public company operating globally in the finance & insurance sector. The company's offerings include investment management services, marine insurance, business interruption insurance, supply chain insurance, professional indemnity insurance. Founded in 1890, the company is currently headquartered... Subscribe to learn more
American International Group, Inc.
American International Group, Inc. is a public company operating globally in the finance and insurance sector. The company's offerings include product warranty insurance, building & contents insurance, commercial auto & truck insurance, cargo insurance, marine insurance. Founded in 1919, the company is currently... Subscribe to learn more
Arch Capital Group Ltd.
Arch Capital Group Ltd. is engaged in the marketing and servicing of insurance and related products reinsurance on an around the world basis. Its business is divided into three segments: insurance and reinsurance and mortgage (carried out by its international subsidiaries and includes excess and surplus line... Subscribe to learn more
AXA AS
AXA AS is a public company operating in the finance and insurance sector. The company's offerings include marine insurance, professional indemnity insurance, group travel insurance, life insurance, directors & officers liability insurance. The company is currently headquartered in NEW YORK, New York, United... Subscribe to learn more
Berkshire Hathaway Inc.
Berkshire Hathaway Inc. is a public company operating globally in the utilities, manufacturing and finance and insurance sectors. The company's offerings include truck trailers, natural gas, commercial auto & truck insurance, professional indemnity insurance, group travel insurance. Founded in 1929, the company... Subscribe to learn more
Chester Perfetto Agency, Inc.
Chester Perfetto Agency, Inc. is a private company operating nationally in the finance & insurance sector. The company's offerings include group travel insurance. Founded in 1971, the company is currently headquartered in Wyomissing, Pennsylvania, United States of America with an estimated 37 employees. Subscribe to learn more
Chubb Ltd
Chubb Ltd is a public company operating globally in the finance and insurance sector. The company's offerings include commercial auto & truck insurance, cargo insurance, marine insurance, business interruption insurance, supply chain insurance. Founded in 1882, the company is currently headquartered in ZURICH,... Subscribe to learn more
Hub International Ltd
Hub International Ltd is a private company operating internationally in the finance & insurance sector. The company's offerings include group travel insurance and insurance brokerage services. Founded in 1998, the company is currently headquartered in Chicago, Illinois, United States of America with an estimated... Subscribe to learn more
Nationwide Mutual Insurance Co
Nationwide Mutual Insurance Co is a private company operating nationally in the finance & insurance sector. The company's offerings include building & contents insurance, commercial auto & truck insurance, business interruption insurance, professional indemnity insurance, group travel insurance. Founded in... Subscribe to learn more
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Procurement Management KPIs for the Group Travel Insurance Market
Managing vendor performance throughout the contract period is easier when tracking specific key performance indicators (KPIs). For example, buyers should monitor Average Resolution Time and Claims Settlement Ratio. Buyers may experience better performance throughout their contracts if they establish service level agreements (SLAs) based on Support and other factors.
| KPI | Level of Importance (1-5) | Measurements | Key Considerations |
|---|---|---|---|
| Average Resolution Time |
|
Total resolution time Number of resolved tickets |
The average resolution time represents the average amount of time it takes to resolve a support ticket. The average resolution time can be used to determine a company’s support responsiveness. Since emergencies, trip cancellations, or delays often happen, fast-responding customer service teams will be crucial. |
| Claims Settlement Ratio |
|
Total number of claims Total number of claims settled |
The claims settlement ratio indicates the percentage of claims that an insurance provider has settled compared to the total number of claims received. A higher claims settlement ratio is a good indicator of the credibility and reliability of insurance providers. |
|
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Questions to Ask During Procurement Negotiations
How can I gain leverage during negotiations?
Qualifications
How many policies do you manage?
What licenses do you have that permit you to sell insurance?
Policies
What types of trip cancelation, interruption and delay coverage do you offer? What are the coverage limits on these items?
What are the requirements to qualify for a trip cancelation claim?
Logistics
What is the process for submitting a claim?
How long on average does it take your company to pay claims?
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Group Travel Insurance RFP Guidelines
What should my RFP include?
Organizational Overview
Buyers should give an overview of their organizations, including the industry, products and services offered, location(s), and type of ownership.
Buyers should describe their current policy and need for new coverage.
Statement Of Need
Buyers should specify the breadth of coverage for the policy, including the types of events to be covered (i.e., trip cancelations and delays, medical expenses, etc.).
Buyers should specify the coverage limit per person for each trip.
Project Budget
Buyers should request a breakdown of the policy's premiums and deductibles.
Buyers should outline any other costs for which insurers are responsible.
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We display average pricing information, trends and market data.
Our Reports include:
- Opportunity assessment
- Market dynamics
- Recent developments
- Positive and warning trends
- Buyer power levers
- Price environment and market pricing
- Geographic wage rates
- Global market updates
- Total cost of ownership
- Cost structure benchmarks and analysis
- Supply chain and vendors
- Global supplier breakdown
- Market share concentration
- Regulation and business requirements
- Vendor management and KPIs
- Sourcing strategy guidance
