Welcome!

News Feed Item

Allianz Travel Insurance Sharing Economy Index Reveals Twice as Many Americans to Use Hybrid Market for Summer Travel in 2016

Familiarity and Trust Boosts Non-Traditional and On-Demand Travel Services Airbnb, Uber, and Lyft for Value and Local Experience

RICHMOND, VA--(Marketwired - July 25, 2016) - More than double the amount of Americans plan to use sharing economy services for their travel plans this summer compared to 2015 due to an increase in familiarity and trust, according to the second annual Allianz Travel Insurance Sharing Economy Index released today by Allianz Global Assistance USA.

The first year-on-year survey to track consumer confidence in the sharing economy market for travel planning, the analysis found that one in three Americans (36 percent) say they are likely to use sharing economy services such as Airbnb, HomeAway, Uber or Lyft during their summer vacation this year. This is up from last year when just 17 percent of Americans said they were likely to use these services.

Millennials continue to lead the sharing economy trend with 65 percent aged 18-34 saying they are likely to use these services (up 37 percentage points from 2015), compared to the 33 percent aged 35-54 (up 16 points) and the 14 percent aged 55 or over (up eight percent) who are likely to use sharing economy services. Americans with an annual income of $50,000 or more (38 percent) are more likely to use sharing economy services than those with an income less than $50,000 (32 percent).

The survey found that this growth is the result of expanded familiarity and trust in the services. American millennials continue to increase in familiarity with 86 percent saying they are familiar with the sharing economy services offered (up 28 percentage points from 2015), compared to the 67 percent aged 35-54 (up 14 points) and the 49 percent aged 55 or over (up 20 points).

America is also becoming more aware of the variety of sharing economy services available with Uber topping the list with 62 percent of Americans saying they are familiar with the service (up 27 points from 2015). Airbnb is up 16 points with 35 percent familiarity and Lyft rose 19 points to 34 percent familiarity. Additionally, HomeAway (18 percent; up eight points), GetAround (11 percent; up four points) and Feastly (10 percent; up six points) all experienced growth in familiarity.

With greater familiarity also comes increased trust. The survey showed that 48 percent of Americans find sharing economy services such as Airbnb, HomeAway, Uber or Lyft to be trustworthy, up four points from 2015.

When asked about which services provide the better experience, the survey found that more Americans feel the sharing economy provides better value (26 percent; up nine percent) and a more authentic local experience (22 percent; up 10 percent), however they still prefer traditional services such as online services like Expedia.com, using a travel agent, or booking directly with a hotel, restaurant or car service for providing the better overall experience (25 percent), quality product (31 percent), booking (31 percent) and customer support when things go wrong (40 percent).

"We're at an interesting intersection right now between sharing economy and traditional services," said Daniel Durazo, director of communications at Allianz Global Assistance USA. "The playing field is quite level with many Americans having an uncertainty about which services provide the better experience, which opens an opportunity for the lesser known sharing economy to take a bigger stake as awareness continues to increase. There was already significant growth in use, familiarity and trust of the sharing economy over the last year showing that these services are not a fad and have great potential for longevity."

The Sharing Economy Index was established in 2015 by Allianz Global Assistance USA and is conducted each summer by national polling firm Ipsos Public Affairs.

Methodology: These are some of the findings of an Ipsos poll conducted on behalf of Allianz from May 3 to 10, 2016. For the survey, a sample of n=2,007 Americans was interviewed online via Ipsos's American online panel. The precision of Ipsos online surveys is measured using a Bayesian credibility interval. In this case, with a sample of this size, the results are considered accurate to within ± 2.5 percentage points, 19 times out of 20, of what they would have been had all Americans been polled. The margin of error will be larger within sub-groupings of the survey population.

Allianz Global Assistance USA

Allianz Global Assistance USA (AGA Service Company) is a leading consumer specialty insurance and assistance company. We insure 21 million customers annually and are best known for our Allianz Travel Insurance plans. In addition to travel insurance, Allianz Global Assistance USA offers tuition insurance, event ticket protection, registration protection for endurance events and unique travel assistance services such as international medical assistance and concierge services. The company also serves as an outsource provider for in-bound call center services and claims administration for health insurers, property and casualty insurers, and credit card companies.

For more information about Allianz Travel Insurance plans, please visit AllianzTravelInsurance.com or "Like" us on Facebook.

* - Terms, conditions, and exclusions apply to all plans. Plans are available only to U.S. residents. Not all plans are available in all jurisdictions. For a complete description of the coverage and benefit limits offered under your plan, carefully review your plan's Letter of Confirmation/Declarations and Certificate of Insurance/Policy. Insurance coverage is underwritten by BCS Insurance Company (OH, Administrative Office: Oakbrook Terrace, IL), rated "A-" (Excellent) by A.M. Best Co., under BCS Form No. 52.201 series or 52.401 series, or Jefferson Insurance Company (NY, Administrative Office: Richmond, VA), rated "A+" (Superior) by A.M. Best Co., under Jefferson Form No. 101-C series or 101-P series, depending on state of residence. Allianz Global Assistance and Allianz Travel Insurance are brands of AGA Service Company. AGA Service Company is the licensed producer and administrator of these plans and an affiliate of Jefferson Insurance Company. The insured shall not receive any special benefit or advantage due to the affiliation between AGA Service Company and Jefferson Insurance Company. Non-insurance benefits/products are provided and serviced by AGA Service Company. "Lyft" is a registered trademark of Lyft, Inc.; "AirBnB" is a registered trademark of Airbnb, Inc.; "GetAround" is a registered trademark of GetAround, Inc.; "Uber" is a registered trademark of Uber Technologies, Inc.; "Expedia.com" is a registered trademark of Expedia, Inc.; "Feastly" is a mark of Featly, Inc.; "HomeAway" is a registered trademark of HomeAway.com, Inc.; "Facebook" is a registered trademark of Facebook, Inc. (collectively, "Non-sponsors"). "Allianz Travel Insurance" and "Allianz Global Assistance" are marks of AGA Service Company. Marks not owned by AGA Service Company are used without permission. The Non-sponsors do not sponsor or endorse AGA Service Company or this advertisement, and AGA Service Company does not sponsor or endorse any of the Non-sponsors.

Media Contact:
Daniel Durazo
804.673.7175

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Darktrace is the world's leading AI company for cyber security. Created by mathematicians from the University of Cambridge, Darktrace's Enterprise Immune System is the first non-consumer application of machine learning to work at scale, across all network types, from physical, virtualized, and cloud, through to IoT and industrial control systems. Installed as a self-configuring cyber defense platform, Darktrace continuously learns what is ‘normal' for all devices and users, updating its understa...
Codete accelerates their clients growth through technological expertise and experience. Codite team works with organizations to meet the challenges that digitalization presents. Their clients include digital start-ups as well as established enterprises in the IT industry. To stay competitive in a highly innovative IT industry, strong R&D departments and bold spin-off initiatives is a must. Codete Data Science and Software Architects teams help corporate clients to stay up to date with the mod...
There are many examples of disruption in consumer space – Uber disrupting the cab industry, Airbnb disrupting the hospitality industry and so on; but have you wondered who is disrupting support and operations? AISERA helps make businesses and customers successful by offering consumer-like user experience for support and operations. We have built the world’s first AI-driven IT / HR / Cloud / Customer Support and Operations solution.
ScaleMP is presenting at CloudEXPO 2019, held June 24-26 in Santa Clara, and we’d love to see you there. At the conference, we’ll demonstrate how ScaleMP is solving one of the most vexing challenges for cloud — memory cost and limit of scale — and how our innovative vSMP MemoryONE solution provides affordable larger server memory for the private and public cloud. Please visit us at Booth No. 519 to connect with our experts and learn more about vSMP MemoryONE and how it is already serving some of...
Platform9, the leader in SaaS-managed hybrid cloud, has announced it will present five sessions at four upcoming industry conferences in June: BCS in London, DevOpsCon in Berlin, HPE Discover and Cloud Computing Expo 2019.
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throug...
When you're operating multiple services in production, building out forensics tools such as monitoring and observability becomes essential. Unfortunately, it is a real challenge balancing priorities between building new features and tools to help pinpoint root causes. Linkerd provides many of the tools you need to tame the chaos of operating microservices in a cloud native world. Because Linkerd is a transparent proxy that runs alongside your application, there are no code changes required. I...
In his general session at 21st Cloud Expo, Greg Dumas, Calligo’s Vice President and G.M. of US operations, discussed the new Global Data Protection Regulation and how Calligo can help business stay compliant in digitally globalized world. Greg Dumas is Calligo's Vice President and G.M. of US operations. Calligo is an established service provider that provides an innovative platform for trusted cloud solutions. Calligo’s customers are typically most concerned about GDPR compliance, application p...
Modern software design has fundamentally changed how we manage applications, causing many to turn to containers as the new virtual machine for resource management. As container adoption grows beyond stateless applications to stateful workloads, the need for persistent storage is foundational - something customers routinely cite as a top pain point. In his session at @DevOpsSummit at 21st Cloud Expo, Bill Borsari, Head of Systems Engineering at Datera, explored how organizations can reap the bene...
"NetApp's vision is how we help organizations manage data - delivering the right data in the right place, in the right time, to the people who need it, and doing it agnostic to what the platform is," explained Josh Atwell, Developer Advocate for NetApp, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Druva is the global leader in Cloud Data Protection and Management, delivering the industry's first data management-as-a-service solution that aggregates data from endpoints, servers and cloud applications and leverages the public cloud to offer a single pane of glass to enable data protection, governance and intelligence-dramatically increasing the availability and visibility of business critical information, while reducing the risk, cost and complexity of managing and protecting it. Druva's...
Kubernetes as a Container Platform is becoming a de facto for every enterprise. In my interactions with enterprises adopting container platform, I come across common questions: - How does application security work on this platform? What all do I need to secure? - How do I implement security in pipelines? - What about vulnerabilities discovered at a later point in time? - What are newer technologies like Istio Service Mesh bring to table?In this session, I will be addressing these commonly asked ...
BMC has unmatched experience in IT management, supporting 92 of the Forbes Global 100, and earning recognition as an ITSM Gartner Magic Quadrant Leader for five years running. Our solutions offer speed, agility, and efficiency to tackle business challenges in the areas of service management, automation, operations, and the mainframe.
Blockchain has shifted from hype to reality across many industries including Financial Services, Supply Chain, Retail, Healthcare and Government. While traditional tech and crypto organizations are generally male dominated, women have embraced blockchain technology from its inception. This is no more evident than at companies where women occupy many of the blockchain roles and leadership positions. Join this panel to hear three women in blockchain share their experience and their POV on the futu...
The Jevons Paradox suggests that when technological advances increase efficiency of a resource, it results in an overall increase in consumption. Writing on the increased use of coal as a result of technological improvements, 19th-century economist William Stanley Jevons found that these improvements led to the development of new ways to utilize coal. In his session at 19th Cloud Expo, Mark Thiele, Chief Strategy Officer for Apcera, compared the Jevons Paradox to modern-day enterprise IT, examin...