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Insurance Industry Almanac 2024: Insurance Industry Market Research, Statistics, Trends and Leading Companies

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    Book

  • 490 Pages
  • November 2023
  • Plunkett Research Ltd
  • ID: 5185337

Key Findings:

A complete market research report, including forecasts and market estimates, technologies analysis, and developments at innovative firms within the Insurance Industry.  Gain vital insights that can help shape strategy for business development, product development, and investments.

Key Features:

  • Business trends analysis
  • In-depth industry overview
  • Technology trends analysis
  • Forecasts
  • Spending, investment, and consumption discussions
  • In-depth industry statistics and metrics
  • Industry employment numbers

Additional Key Features Include:

  • Industry Glossary
  • Industry Contacts list, including Professional Societies and Industry Associations
  • Profiles of industry-leading companies
  • U.S. and Global Firms
  • Publicly held, Private and Subsidiaries
  • Executive Contacts
  • Revenues
  • For Public Companies: Detailed Financial Summaries

Pages: 492

Statistical Tables Provided: 12

Companies Profiled: 350

Geographic Focus: Global

Key Questions Answered Include:

  • How is the industry evolving?
  • How is the industry being shaped by new technologies?
  • How is demand growing in emerging markets and mature economies?
  • What is the size of the market now and in the future?
  • What are the financial results of the leading companies?
  • What are the names and titles of top executives?
  • What are the top companies and what are their revenues?

This feature-rich report covers competitive intelligence, market research and business analysis - everything you need to know about the Insurance Industry.

Major Trends Affecting the Insurance Industry

  1. Introduction to the Insurance Industry
  2. Sophisticated Risk Management and Prevention Programs Lead to Lower Losses
  3. Risk Managers Seek Certification
  4. Independent Agencies Continue to Dominate Commercial Insurance, but Play a Lesser Role in Personal Lines
  5. Insurance Direct Selling and E-Commerce Grow
  6. Insurance Underwriting Uses Artificial Intelligence (AI)/Policy Holders Allow Their Habits to Be Tracked for Lower Insurance Rates
  7. Artificial Intelligence (AI) Enables Life Insurance Underwriting
  8. States Pick Up Some Wind and Flood Risk for Homeowners/Underwriters Rely on Sophisticated Risk Analysis Technology to Set Rates
  9. No End in Sight to the Growth of Specialized Insurance Lines
  10. Health Sharing Ministries Attract Millions of Members
  11. Annuity Account Managers Create New Product Strategies
  12. Major U.S., Japanese and European Insurance Firms See Vast Promise in Chinese, Southeast Asian, and Emerging Markets
  13. Continued Rise in Health Care Costs
  14. Number of Uninsured Americans Declines But Remains High
  15. U.S. Affordable Care Act (ACA) of 2010 Rewrote the Rules and Increased Coverage, But Costs Continue to Rise
  16. Employers Fight Rapidly Growing Health Care Premiums/Require Employees to Pay a Significant Share of Costs
  17. Insurance Companies Change Strategies Due to Affordable Care Act (ACA) and Rapidly Rising Costs of Care
  18. Malpractice Suits Are Blamed for Rising Health Care Costs/Tort Reform Is Capping Awards for Damages
  19. Hedge Funds and Private Equity Play a Major Role in Financial Products Including Derivatives, Lending, and Insurance
  20. Aging Populations, Baby Boomers Create Opportunities/U.S. Pension Accounts Top $36.7 Trillion
  21. Basel III, Dodd-Frank Act and Volcker Act Increase Regulation/European Solvency II and MiFID 2 Take Effect
  22. Financial Technology (FinTech) Enables Online Lending, Insurance and Robo Advisors
  23. Drones Save Time and Money in a Variety of Industries Including Insurance, Real Estate, and Construction
  24. Gig Economy and Self-Driving Cars Pose Insurance Challenges and Underwriting Opportunities
  25. The Future of the Insurance Industry and Risk Management

Insurance Industry Statistics

  1. Insurance Industry Statistics and Market Size Overview
  2. Assets & Liabilities of U.S. Property-Casualty Insurance Companies: 2020-2nd Quarter 2023
  3. Assets & Liabilities of U.S. Life Insurance Companies: 2020-2nd Quarter 2023
  4. Employers' Costs for Total Compensation and Health Insurance, by Selected Characteristics, U.S.: Selected Years, 2019-2023
  5. The Nation's Health Dollar: 2023 Where It Came From (Projected)
  6. The Nation’s Health Dollar: 2023 Where It Went (Estimated)
  7. Number & Percent of Persons of All Ages with and without Health Insurance Coverage, U.S.: 2007-2022
  8. Number & Percent of Persons without Health Insurance Coverage, by Age Group, U.S.: 2000-2022
  9. Medical Care Benefits in the U.S.: Access, Participation and Take-Up Rates, March 2023
  10. Retirement Benefits in the U.S.: Access, Participation and Take-Up Rates, March 2023
  11. Employment in the Insurance Industry, U.S.: 2017-July 2023

Table of Contents

  • Introduction
  • How to Use This Book
Chapter 1: Major Trends Affecting the Insurance Industry
  • Introduction to the Insurance Industry
  • Sophisticated Risk Management and Prevention Programs Lead to Lower Losses
  • Risk Managers Seek Certification
  • Independent Agencies Continue to Dominate Commercial Insurance, but Play a Lesser Role in Personal Lines
  • Insurance Direct Selling and E-Commerce Grow
  • Insurance Underwriting Uses Artificial Intelligence (AI)/Policy Holders Allow Their Habits to Be Tracked for Lower Insurance Rates
  • Artificial Intelligence (AI) Enables Life Insurance Underwriting
  • States Pick Up Some Wind and Flood Risk for Homeowners/Underwriters Rely on Sophisticated Risk Analysis Technology to Set Rates
  • No End in Sight to the Growth of Specialized Insurance Lines
  • Health Sharing Ministries Attract Millions of Members
  • Annuity Account Managers Create New Product Strategies
  • Major U.S., Japanese and European Insurance Firms See Vast Promise in Chinese, Southeast Asian and Emerging Markets
  • Continued Rise in Health Care Costs
  • Number of Uninsured Americans Declines But Remains High
  • U.S. Affordable Care Act (ACA) of 2010 Rewrote the Rules and Increased Coverage, But Costs Continue to Rise
  • Employers Fight Rapidly Growing Health Care Premiums/Require Employees to Pay a Significant Share of Costs
  • Insurance Companies Change Strategies Due to Affordable Care Act (ACA) and Rapidly Rising Costs of Care
  • Malpractice Suits Are Blamed for Rising Health Care Costs/Tort Reform Is Capping Awards for Damages
  • Hedge Funds and Private Equity Play a Major Role in Financial Products Including Derivatives, Lending and Insurance
  • Aging Populations, Baby Boomers Create Opportunities/U.S. Pension Accounts Top $36.7 Trillion
  • Basel III, Dodd-Frank Act and Volcker Act Increase Regulation/European Solvency II and MiFID 2 Take Effect
  • Financial Technology (FinTech) Enables Online Lending, Insurance and Robo Advisors
  • Drones Save Time and Money in a Variety of Industries Including Insurance, Real Estate and Construction
  • Gig Economy and Self-Driving Cars Pose Insurance Challenges and Underwriting Opportunities
  • The Future of the Insurance Industry and Risk Management
Chapter 2: Insurance Industry Statistics
  • Insurance Industry Statistics and Market Size Overview
  • Assets & Liabilities of U.S. Property-Casualty Insurance Companies: 2020-2nd Quarter 2023
  • Assets & Liabilities of U.S. Life Insurance Companies: 2020-2nd Quarter 2023
  • Employers' Costs for Total Compensation and Health Insurance, by Selected Characteristics, U.S.: Selected Years, 2019-2023
  • The Nation's Health Dollar: 2023 Where It Came From (Projected)
  • The Nation’s Health Dollar: 2023 Where It Went (Estimated)
  • Number & Percent of Persons of All Ages with and without Health Insurance Coverage, U.S.: 2007-2022
  • Number & Percent of Persons without Health Insurance Coverage, by Age Group, U.S.: 2000-2022
  • Medical Care Benefits in the U.S.: Access, Participation and Take-Up Rates, March 2023
  • Retirement Benefits in the U.S.: Access, Participation and Take-Up Rates, March 2023
  • Employment in the Insurance Industry, U.S.: 2017-July 2023
Chapter 3: Important Insurance Industry Contacts
  • (Addresses, Phone Numbers and Internet Sites)
Chapter 4: THE INSURANCE 350
  • Who They Are and How They Were Chosen
  • Index of Companies Within Industry Groups
  • Alphabetical Index
  • Index of U.S. Headquarters Location by State
  • Index of Non-U.S. Headquarters Location by Country
  • Individual Data Profiles on Each of THE INSURANCE 350
Additional Indexes
  • Index of Hot Spots for Advancement for Women/Minorities
  • Index by Subsidiaries, Brand Names and Selected Affiliations
  • A Short Insurance Industry Glossary

Companies Mentioned

  • Aditya Birla Capital Ltd
  • Admiral Group plc
  • Aegon NV
  • AFLAC Incorporated
  • Ageas SA/NV
  • AIA Group Limited
  • Alexander Forbes Limited
  • Allianz SE
  • Allstate Corporation (The)
  • Ambac Financial Group Inc
  • American Financial Group Inc
  • American International Group Inc (AIG)
  • Ameriprise Financial Inc
  • AMERISAFE Inc
  • Aon plc
  • Arch Capital Group Ltd
  • Argo Group International Holdings Ltd
  • Arthur J Gallagher & Co
  • Aspen Insurance Holdings Limited
  • ASR Nederland NV
  • Assicurazioni Generali SpA
  • Assurant Inc
  • Assured Guaranty Ltd
  • Atlantic American Corporation
  • Aviva plc
  • AXA SA
  • AXIS Capital Holdings Limited
  • Baloise Holding AG
  • Bank of America Corporation
  • Beazley plc
  • Berkshire Hathaway Inc (Holding Co)
  • BOC Hong Kong (Holdings) Limited
  • Bright Health Group Inc
  • Brown & Brown Inc
  • Centene Corporation
  • China Life Insurance Company Limited
  • China Pacific Insurance Group Company Limited
  • China Reinsurance (Group) Corporation (China Re)
  • China Taiping Insurance Holdings Company Limited
  • China United Insurance Service Inc
  • Chubb Limited
  • Cigna Corporation
  • Cincinnati Financial Corporation
  • Citizens Inc
  • Clover Health Investments Corp
  • CNA Financial Corporation
  • CNO Financial Group Inc
  • CNP Assurances SA
  • CorVel Corporation
  • Crawford & Company
  • Dai-ichi Life Holdings Inc
  • DB Insurance Co Ltd
  • Direct Line Insurance Group plc
  • Ebix Inc
  • eHealth Inc
  • Elevance Health Inc
  • Employers Holdings Inc
  • Equitable Holdings Inc
  • Erie Indemnity Company
  • Essent Group Ltd
  • Everest Group Ltd
  • Fairfax Financial Holdings Limited
  • Fidelity National Financial Inc
  • First Acceptance Corporation
  • First American Financial Corporation
  • Fiserv Inc
  • Fosun International Limited
  • frontdoor inc
  • Genworth Financial Inc
  • Gjensidige Forsikring ASA
  • Globe Life Inc
  • Goosehead Insurance Inc
  • Great-West Lifeco Inc
  • Guidewire Software Inc
  • Hallmark Financial Services Inc
  • Hannover Re SE (Hannover Ruck SE)
  • Hanover Insurance Group Inc (The)
  • Hanwha General Insurance Co Ltd
  • Hartford Financial Services Group Inc (The)
  • HCI Group Inc
  • Hilltop Holdings Inc
  • Hippo Holdings Inc
  • Horace Mann Educators Corporation
  • HSBC Holdings Plc
  • Humana Inc
  • Hyundai Marine & Fire Insurance Co Ltd
  • iA Financial Corporation Inc
  • ING Group (ING Groep NV)
  • Insurance Australia Group Limited
  • Intact Financial Corporation
  • Japan Post Holdings Co Ltd
  • Japan Post Insurance Co Ltd
  • Kansas City Life Insurance Company
  • Kemper Corporation
  • Kingsway Financial Services Inc
  • Korean Reinsurance Company
  • Legal & General Group plc
  • Lemonade Inc
  • Lincoln National Corporation
  • Lloyds Banking Group plc
  • Loews Corporation
  • Maiden Holdings Ltd
  • Manulife Financial Corporation
  • Mapfre SA
  • Markel Corporation
  • Marsh & McLennan Companies Inc
  • MBIA Inc
  • Medibank Private Limited
  • Mercury General Corporation
  • Meritz Financial Group Inc
  • MetLife Inc
  • MGIC Investment Corporation
  • Molina Healthcare Inc
  • Momentum Metropolitan Holdings Limited
  • MS&AD Insurance Group Holdings Inc
  • MultiPlan Inc
  • Munich Re Group
  • National Reinsurance Corporation of the Philippines
  • National Western Life Group Inc
  • New China Life Insurance Co Ltd
  • NN Group NV
  • Nuernberger Beteiligungs AG
  • Old Mutual Limited
  • Old Republic International Corporation
  • ORIX Corporation
  • Oscar Health Inc
  • Pacific Health Care Organization Inc
  • PartnerRe Ltd
  • People's Insurance Co (Group) of China Ltd (The)
  • PICC Property and Casualty Company Limited
  • Ping An Insurance (Group) Company of China Ltd
  • Powszechny Zaklad Ubezpieczen SA (Grupa PZU)
  • Primerica Inc
  • Principal Financial Group Inc
  • ProAssurance Corporation
  • Progressive Corporation (The)
  • Prudential Financial Inc
  • Prudential Public Limited Company
  • QBE Insurance Group Limited
  • Radian Group Inc
  • Reinsurance Group of America Inc
  • RenaissanceRe Holdings Ltd
  • RLI Corp
  • Root Inc
  • Sagen MI Canada Inc
  • Sagicor Financial Co Ltd
  • Sampo plc
  • Samsung Fire & Marine Insurance Co Ltd
  • Samsung Life Insurance Co Ltd
  • SCOR SE
  • Selective Insurance Group Inc
  • SelectQuote Inc
  • Seven & I Holdings Co Ltd
  • Sompo Holdings Inc
  • Stewart Information Services Corporation
  • Sun Life Financial Inc
  • Suncorp Group Limited
  • Swiss Life Holding AG
  • Swiss Reinsurance Company
  • T&D Holdings Inc
  • Talanx AG
  • Tokio Marine Holdings Inc
  • TongYang Life Insurance Co Ltd
  • Travelers Companies Inc (The)
  • Tryg AS
  • Unipol Gruppo SpA
  • UnipolSai Assicurazioni SpA
  • UNIQA Insurance Group AG
  • UnitedHealth Group Inc
  • Universal Insurance Holdings Inc
  • Unum Group
  • Verisk Analytics Inc
  • Voya Financial Inc
  • W R Berkley Corporation
  • Wells Fargo & Company
  • White Mountains Insurance Group Ltd
  • WTW (Willis Towers Watson)
  • Wustenrot & Wurttembergische AG
  • Zurich Insurance Group AG

Methodology

The data development evolved from research methods originally established by the founder of the company.

 

Through the years, a research methodology evolved based on strict guidelines used to build and maintain the content of six proprietary business and industry databases:

  • An industry trends database
  • An industry statistics database
  • Industry Analytics (deep financial data for hundreds of Industry codes)
  • A leading companies database
  • A business and industry glossary database
  • An industry associations and professional societies database
  • Analysts are trained to follow research formulas and methodology. They use company-approved sources in their work and post their findings daily to proprietary databases. All research results go through multi-step editing processes. And, all results are date-stamped.
Primary sources include:
  • Internal research, analysis, fact-checking and data gathering by the Research staff.
  • Over 3,500 industry associations, professional societies and government agencies worldwide with which the publisher maintains relationships and/or from which they obtain industry-specific/country-specific data.
  • Financial analysts, industry executives and industry experts with whom the publisher maintains communications.
  • Corporate disclosure documents and financial statements.
  • Industry conference proceedings.
  • Analysis of white papers, reports, periodicals and publications.
  • Multiple proprietaries, government, industry and financial databases developed by the publisher.

 

 

 

 

 

 

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