Majority of Road Warriors Have Encountered a Mishap While Traveling in the Past Year
46% of Business Travelers are Not Offered Corporate Travel Insurance Policy
Alexandria, VA (February 27, 2014) – The Global Business Travel Association (GBTA) recently surveyed more than 500 business travelers in the United States and identified the top setbacks, disruptions and concerns travelers encounter while on the road. The GBTA study, Business Traveler Mishaps: The Real Risk of Business Travel, found that during the past 12 months, 75% of travelers encountered a mishap while traveling to their business destinations. The most frequently reported issues during travel included:
1. Travel delay due to weather (54%)
2. Delayed flight/train departure (48%)
3. Airplane incident (mechanical issue, late arrival, etc.) (40%)
4. Missed connecting flight (16%)
Frequent travelers are also concerned with safety while on the road. The main concerns during a business trip included:
1. Location of hotel (50%)
2. Airline safety record (36%)
3. Safety of ground transportation (35%)
4. Knowing who to call if issues arise (34%)
“Delays, cancellations and mechanical issues are an unfortunate, unpredictable aspect of business travel,” said GBTA vice president of research Joseph Bates. “Travel managers face all of these challenges and leading companies are working to address these issues. This research looks to provide travel managers with data that can help them uncover new methods and polices to ease stress for their business travelers.”
Surprisingly, nearly half of the study’s respondents (46%) said their company does not provide travel insurance or assistance services and they have not purchased these benefits from an outside agency. The benefits from these insurance policies compensate frequent travelers for trip interruptions and other unexpected expenses, which can help alleviate the burden from the traveler and improve the overall business travel experience.
“It’s important for individuals to feel confident in their travels, whether for business or leisure,” shares Scott Ackerman, Senior Vice President, Sales, Travel Guard. Travel Guard, a worldwide leader in travel insurance solutions and assistance, including emergency assistance, was a co-sponsor of this study. “To learn that business travelers have concerns about their safety, in addition to worries about travel disruptions that could derail their plans, is understandable, but they need not feel helpless. There are resources that offer 24/7 access to travel emergency and assistance services, which can help business travelers move beyond the travel disruption and keep business moving forward.”
Methodology
In the U.S. a total of 523 respondents completed the online survey during the week of September 16, 2013. To participate business travelers had to be employed full-time and have taken at least one business trip of a distance of at least 250 miles within the last 12 months.
The study, Business Traveler Mishaps: The Real Risk of Business Travel, is available exclusively to GBTA members by clicking here and non-members may purchase the report through the GBTA Foundation by emailing pyachnes@gbtafoundation.org.
About the GBTA Foundation:
The GBTA Foundation is the education and research foundation of the Global Business Travel Association (GBTA), the world’s premier business travel and corporate meetings organization. Collectively, GBTA’s 6,000-plus members manage over $340 billion of global business travel and meetings expenditures annually. GBTA provides its network of 21,000 business and government travel and meetings managers, as well as travel service providers, with networking events, news, education & professional development, research, and advocacy. The foundation was established in 1997 to support GBTA’s members and the industry as a whole. As the leading education and research foundation in the business travel industry, the GBTA Foundation seeks to fund initiatives to advance the business travel profession. The GBTA Foundation is a 501(c)(3) nonprofit organization. For more information, see gbta.org and gbta.org/foundation.
About Travel Guard:
Travel Guard is the marketing name for Travel Guard Worldwide, Inc. Travel Guard, a member of American International Group, Inc. (“AIG”), is a worldwide leader in travel insurance solutions and assistance, including emergency assistance, for millions of leisure and business travelers around the globe. American International Group, Inc. (AIG ) is a leading international insurance organization serving customers in more than 130 countries. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange.
Additional information about AIG can be found at www.aig.com | YouTube: www.youtube.com/aig |Twitter: @AIG_LatestNews| LinkedIn: http://www3.gbta.org/e/5572/company-aig/w254d/818808711
AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at www.aig.com. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries, and coverage is subject to actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property-casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.