Global Micro Insurance Market 2016-2020

  • ID: 3769438
  • Report
  • Region: Global
  • 81 pages
  • TechNavio
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FEATURED COMPANIES

  • Bajaj Allianz
  • HDFC Ergo
  • Hollard Insurance
  • Mapfre
  • MicroEnsure
  • NSIA Insurance
  • MORE
About the Microinsurance Market

Microinsurance products are coverage policies targeted at households with low-income levels. These plans provide tailored insurance policies for individuals with little or small saving plans. They offer lower value assets and compensation for injury, illness, or death to a person compared to other insurance policies. Microinsurance companies assist the not so well off by offering insurance plans that are tailored to their specific needs. The coverage value of the policy is lower than a typical insurance plan. Therefore, the insured customer pays considerably smaller premiums to the insurance company. The presence of the microinsurance market is strong in developing countries with high growing opportunities.

The analysts forecast the global microinsurance market to grow at a CAGR of 8.2% during the period 2016-2020.

Covered in this report

The report covers the present scenario and the growth prospects of the global microinsurance market for 2016-2020. To calculate the market size, we consider the total amount of microinsurance from the Americas, APAC, and EMEA.

The market is divided into the following segments based on geography:

- Americas
- APAC
- EMEA

The report, Global Microinsurance Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
- Alternative Insurance Company
- Bajaj Allianz
- IFFCO Tokio General Insurance
- Mapfre
- Pioneer Life

Other prominent vendors
- HDFC Ergo
- Hollard Insurance
- MicroEnsure
- NSIA Insurance
- PNB MetLife
- Protecta
- Tata AIA Life

Market drivers
- Different valuation strategies

Market challenges
- Difficulty in credit assessment of the insured

Market trends
- Microinsurance becoming mandatory

Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Bajaj Allianz
  • HDFC Ergo
  • Hollard Insurance
  • Mapfre
  • MicroEnsure
  • NSIA Insurance
  • MORE
PART 01: Executive summary
  • Highlights
PART 02: Scope of the report
  • Market overview
  • Top-vendor offerings
PART 03: Market research methodology
  • Research methodology
  • Economic indicators
PART 04: Introduction
  • Key market highlights
  • Microinsurance: Overview
  • Key players in microinsurance value chain
  • Microinsurance transaction
  • Role of policy and regulation in shaping the business environment of the microinsurance sector
  • Difference between traditional insurance and microinsurance
PART 05: Market landscape
  • Market overview
  • Market size and forecast
  • Five forces analysis
PART 06: Geographical segmentation
  • Geographical segmentation 2015
  • Geographical segmentation 2020
  • APAC
  • Americas
  • EMEA
PART 07: Market drivers
  • Consolidation in industry
  • Different valuation strategies
  • Development of life microinsurance, health microinsurance, and various kinds of agricultural insurance
PART 08: Impact of drivers

PART 09: Market challenges
  • Lack of awareness
  • Difficulty in credit assessment of the insured
  • Stringent capital requirements
PART 10: Impact of drivers and challenges

PART 11: Market trends
  • Microinsurance becoming mandatory
  • Increase in the customer connectivity
  • Leveraging social media channels for better market penetration
PART 12: Vendor landscape
  • Competitive landscape
  • Other prominent vendors
PART 13: Key vendor analysis
  • Alternative Insurance Company (AIC)
  • Bajaj Allianz
  • IFFCO Tokio General Insurance
  • Mapfre
  • Pioneer Life
PART 14: Appendix
  • List of abbreviations
PART 15: About the Author

List of Exhibits

Exhibit 01: Countries covered for market analysis
Exhibit 02: Product offerings
Exhibit 03: Key players in microinsurance value chain
Exhibit 04: Life cycle of microinsurance
Exhibit 05: Role of policy and regulation in shaping business environment of microinsurance sector
Exhibit 06: Difference between traditional insurance and microinsurance
Exhibit 07: Strategies to manage significant risks for low-income people in developing countries
Exhibit 08: Products offered by microinsurance providers
Exhibit 09: Types of property insurance
Exhibit 10: Damages and losses covered under property insurance
Exhibit 11: Concept of life insurance is based on two fundamental principles
Exhibit 12: Personal uses of life insurance business
Exhibit 13: Types of life insurance
Exhibit 14: Investments involved in a life insurance policy taken by an individual
Exhibit 15: Global microinsurance market 2015-2020 ($ billions)
Exhibit 16: Global microinsurance market by type 2015
Exhibit 17: Global microinsurance market by types 2015 ($ billions)
Exhibit 18: Reasons for upgrading capital management
Exhibit 19: Five forces analysis
Exhibit 20: Global microinsurance market by geography 2015
Exhibit 21: Global microinsurance market by geography 2020
Exhibit 22: Microinsurance market in APAC 2015-2020 ($ billions)
Exhibit 23: Key market healthcare insurance environment in APAC
Exhibit 24: Key market healthcare insurance environment in APAC
Exhibit 25: Microinsurance market in Americas 2015-2020 ($ billions)
Exhibit 26: Health saving account (HSA) contribution limits, deductibles, and out of pocket expenses limit in Americas 2015-2016
Exhibit 27: Microinsurance market in EMEA 2015-2020 ($ billions)
Exhibit 28: Whole life insurance policy features
Exhibit 29: Impact of drivers
Exhibit 30: Impact of drivers and challenges
Exhibit 31: Benefits of mandatory coverage
Exhibit 32: Innovations in customer services
Exhibit 33: Factors that drive customer satisfaction
Exhibit 34: Customer connectivity
Exhibit 35: Social media benefits to insurance firms
Exhibit 36: Bajaj Allianz: Product portfolio
Exhibit 37: IFFCO Tokio General Insurance: Product portfolio
Exhibit 38: Pioneer Life: Product portfolio
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Bajaj Allianz
  • HDFC Ergo
  • Hollard Insurance
  • Mapfre
  • MicroEnsure
  • NSIA Insurance
  • MORE
New Report Released: - Global Microinsurance Market 2016-2020

The author of the report recognizes the following companies as the key players in the global microinsurance market: Alternative Insurance Company, Bajaj Allianz, IFFCO Tokio General Insurance, Mapfre, and Pioneer Life.

Other Prominent Vendors in the market are: HDFC Ergo, Hollard Insurance, MicroEnsure, NSIA Insurance, PNB MetLife, Protecta, and Tata AIA Life.

Commenting on the report, an analyst from the research team said: “One trend which is exerting a positive influence on the market is the mandatory need for microinsurance. Mandatory coverage, often required in connection with a loan, is widespread in microinsurance, particularly among life and accident products. Some microinsurance products combine both mandatory and voluntary coverage policies, for example by requiring customers to purchase a base level of coverage with the option to add on either more coverage or more covered persons. Countries such as Brazil, India, Mexico, Peru, the Philippines, and Taiwan have already implemented some levels of regulation, both to support the adoption of microinsurance and to protect customers.”

According to the report, a key growth driver is the different valuation strategies used by insurance companies. The microinsurance industry is considered a cyclical industry. Therefore, microinsurers formulate different strategies to earn positive yields and generate cash flows. Such strategies should bring in stable earnings year-on-year for players in the microinsurance industry. The microinsurance companies are affected by the insurance industry's cyclicality, but the growth resulting from the changes in premiums may not influence the relative growth prospects of microinsurance companies. However, it is important to consider the fact that a microinsurance company’s underwriting activities do have an effect on the valuation of the insurer. This applies to instances when there is a growth in the rate of the premium.

Further, the report states that one challenge that could hamper market growth is the difficulty in credit assessment of the insured. It is critical for a microinsurance company to assess the creditworthiness of the insured before availing insurance services to minimize risks of default on repayments of premium.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Note: Product cover images may vary from those shown
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- Alternative Insurance Company
- Bajaj Allianz
- IFFCO Tokio General Insurance
- Mapfre
- Pioneer Life
- HDFC Ergo
- Hollard Insurance
- MicroEnsure
- NSIA Insurance
- PNB MetLife
- Protecta
- Tata AIA Life.
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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