About Professional Indemnity Insurance Market
Professional indemnity insurance is a sub-category of liability and financial insurance. It refers to a form of liability insurance that protects businesses that provide advice or professional services to clients. The insurance provides compensation claims to businesses in case of any damages or losses. For example, if a buyer allegedly provides inadequate advice, services, or designs that cause its client financial loss, then professional indemnity insurance covers the related legal costs and expenses.
Factors such as rapid urbanization across emerging markets are encouraging the shift from an agro-based or industrial economy to a service-sector economy, which in turn has increased the sales of professional indemnity insurance. The adoption and implementation of digital technologies and analytics in professional indemnity insurance helps service providers tap new market opportunities in terms of acquiring additional premiums, better risk management, and improved consumer experience.
Covered in this report
The report provides actionable insights to improve source-to-contract cycle performance in the Global Professional Indemnity Insurance Market. It helps sourcing professionals formulate better category strategies, enhance savings, understand supplier and market challenges, and implement sourcing best practices.
The report, Global Professional Indemnity Insurance Market, provides up-to-date information about market shifts and potential risks, as well as in-depth knowledge of products and services, which can help in planning and in executing category management activities. It focuses on the cost-saving aspects of procurement and on providing insights that can lead to optimization of category spend.
Category driver
Category management strategy
Procurement best practices
Key questions answered in this report
You can request one free hour of our analyst’s time when you purchase this market report. Details are provided within the report.
Professional indemnity insurance is a sub-category of liability and financial insurance. It refers to a form of liability insurance that protects businesses that provide advice or professional services to clients. The insurance provides compensation claims to businesses in case of any damages or losses. For example, if a buyer allegedly provides inadequate advice, services, or designs that cause its client financial loss, then professional indemnity insurance covers the related legal costs and expenses.
Factors such as rapid urbanization across emerging markets are encouraging the shift from an agro-based or industrial economy to a service-sector economy, which in turn has increased the sales of professional indemnity insurance. The adoption and implementation of digital technologies and analytics in professional indemnity insurance helps service providers tap new market opportunities in terms of acquiring additional premiums, better risk management, and improved consumer experience.
Covered in this report
The report provides actionable insights to improve source-to-contract cycle performance in the Global Professional Indemnity Insurance Market. It helps sourcing professionals formulate better category strategies, enhance savings, understand supplier and market challenges, and implement sourcing best practices.
The report, Global Professional Indemnity Insurance Market, provides up-to-date information about market shifts and potential risks, as well as in-depth knowledge of products and services, which can help in planning and in executing category management activities. It focuses on the cost-saving aspects of procurement and on providing insights that can lead to optimization of category spend.
Category driver
- Adoption and implementation of digital technologies
- For a full, detailed list, view our report
Category management strategy
- Demand forecasting and governance
- For a full, detailed list, view our report
Procurement best practices
- Engage in long-term contracts
- For a full, detailed list, view our report
Key questions answered in this report
- What are the market dynamics?
- What are the key market trends?
- What are the category growth drivers?
- What are the constraints on category growth?
- Who are the suppliers in this market?
- What are the demand-supply shifts?
- What are the major category requirements?
- What are the procurement best practices in this market?
You can request one free hour of our analyst’s time when you purchase this market report. Details are provided within the report.
Table of Contents
PART 01: Executive Summary
PART 02: Market Insights
PART 03: Category Pricing Insights
PART 04: Cost-saving Opportunities
PART 05: Best Practices
PART 06: Category Ecosystem
PART 07: Category Management Strategy
PART 08: Category Management Enablers
PART 09: Suppliers Selection
PART 10: Suppliers Under Coverage
PART 11: US Market Insights
PART 12: Category Definition
PART 13: Appendix
List of Exhibits
Executive Summary
New Report Released: Global Professional Indemnity Insurance Category - Procurement Market Intelligence Report 2018-2022.The author of the report recognizes the following companies as the key suppliers in the Global Professional Indemnity Insurance Category - Procurement Market Intelligence Report: Allianz, AIG, AXA, Aon, Chubb, Zurich Insurance, Tokyo Marine, Aviva, Hiscox, and Arthur J. Gallagher.
Commenting on the report, an analyst from the research team said: “One of the procurement best practices for buyers is to assess service providers' capability to employ analytical tools for effective calculation of insurance premiums.”
According to the report, one of the key growth contributors for the global professional indemnity insurance market is the rapid urbanization across emerging markets.
Further, the report states that one of the key category management strategies for the buyers in the global professional indemnity insurance market is to reduce the procurement and operational costs by consolidating various insurance services under one vendor.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains actionable insights to improve source-to-contract cycle performance in addition to a PESTLE analysis.
Companies Mentioned
- Allianz
- AIG
- AXA
- Aon
- Chubb
- Zurich Insurance Group
Methodology
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