Strategic Market Intelligence: Insurance Industry in Bolivia - Key Trends and Opportunities to 2022
Summary
Bolivia’s general insurance segment is expected to grow at a CAGR of 5.0% over the forecast period (2017-2022) - as of 2017, the segment recorded a GWP of BOB2.4 billion (US$348.0 million). The life insurance segment is expected to grow at a CAGR of 11.9% over the forecast period - as of 2017, the segment recorded a GWP of BOB1.0 billion (US$151.0 million). Bolivia’s reinsurance segment is expected to grow at a CAGR of 6.3% over the forecast period - as of 2017, the segment recorded a premium accepted of BOB133.8 million (US$19.4 million).
The general insurance industry was dominated by motor insurance, which constituted 34.0% of the segment’s GWP in 2017, followed by property insurance and personal accident and health insurance, with market shares of 22.1% and 19.9%. The life segment was largely dominated by mortgage relief insurance, which accounted for 66.4% of the segment’s GWP in 2017, followed by whole life category which accounted for 30.0% in the same year. As of 2017, there were 16 insurers in Bolivia, of which nine are life insurers.
Bancassurance was one of the preferred distribution channels in Bolivia during the review period (2013-2017). Many banks engage in the retail of insurance products, backed by major insurers in the country. As of 2017, 32 licensed insurance brokers and six reinsurance brokers were operational in Bolivia. During the review period, insurers such as Alianza, UNIVida and La Boliviana Ciacruz launched mobile applications for the online distribution of insurance policies.
The report "Strategic Market Intelligence: Insurance Industry in Bolivia - Key Trends and Opportunities to 2022", provides a detailed outlook by product category for the Bolivian insurance industry, and a comparison of the Bolivian insurance with its regional counterparts. It provides values for key performance indicators such as written premium, paid claims, loss ratio, penetration, and investment income during the review period (2013-2017) and forecast period (2017-2022). The report also gives a comprehensive overview of the Bolivian economy and demographics, and provides detailed information on the competitive landscape in the country.
The report brings together research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country.
Companies mentioned: Nacional Vida Seguros, Alianza Vida de Seguros, La Vitalicia Seguros, La Boliviana Ciacruz Seguros Personales S.A., Crediseguro S.A. Seguros Personales, Univida S.A., Seguros de Vida, Fortaleza S.A., Seguros Provida S.A., Alianza Compañía, La Boliviana Ciacruz, Bisa Seguros, Credinform International S.A., Fortaleza S.A., Latina Seguros, Nacional Vida, Bupa Insurance (Bolivia) S.A.
Scope
Reasons to Buy
Summary
Bolivia’s general insurance segment is expected to grow at a CAGR of 5.0% over the forecast period (2017-2022) - as of 2017, the segment recorded a GWP of BOB2.4 billion (US$348.0 million). The life insurance segment is expected to grow at a CAGR of 11.9% over the forecast period - as of 2017, the segment recorded a GWP of BOB1.0 billion (US$151.0 million). Bolivia’s reinsurance segment is expected to grow at a CAGR of 6.3% over the forecast period - as of 2017, the segment recorded a premium accepted of BOB133.8 million (US$19.4 million).
The general insurance industry was dominated by motor insurance, which constituted 34.0% of the segment’s GWP in 2017, followed by property insurance and personal accident and health insurance, with market shares of 22.1% and 19.9%. The life segment was largely dominated by mortgage relief insurance, which accounted for 66.4% of the segment’s GWP in 2017, followed by whole life category which accounted for 30.0% in the same year. As of 2017, there were 16 insurers in Bolivia, of which nine are life insurers.
Bancassurance was one of the preferred distribution channels in Bolivia during the review period (2013-2017). Many banks engage in the retail of insurance products, backed by major insurers in the country. As of 2017, 32 licensed insurance brokers and six reinsurance brokers were operational in Bolivia. During the review period, insurers such as Alianza, UNIVida and La Boliviana Ciacruz launched mobile applications for the online distribution of insurance policies.
The report "Strategic Market Intelligence: Insurance Industry in Bolivia - Key Trends and Opportunities to 2022", provides a detailed outlook by product category for the Bolivian insurance industry, and a comparison of the Bolivian insurance with its regional counterparts. It provides values for key performance indicators such as written premium, paid claims, loss ratio, penetration, and investment income during the review period (2013-2017) and forecast period (2017-2022). The report also gives a comprehensive overview of the Bolivian economy and demographics, and provides detailed information on the competitive landscape in the country.
The report brings together research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country.
Companies mentioned: Nacional Vida Seguros, Alianza Vida de Seguros, La Vitalicia Seguros, La Boliviana Ciacruz Seguros Personales S.A., Crediseguro S.A. Seguros Personales, Univida S.A., Seguros de Vida, Fortaleza S.A., Seguros Provida S.A., Alianza Compañía, La Boliviana Ciacruz, Bisa Seguros, Credinform International S.A., Fortaleza S.A., Latina Seguros, Nacional Vida, Bupa Insurance (Bolivia) S.A.
Scope
- This report provides a comprehensive analysis of the Insurance Industry in Bolivia.
- It provides historical values for the Bolivian insurance industry for the report’s 2013-2017 review period, and projected figures for the 2017-2022 forecast period.
- It offers a detailed analysis of the key categories in the Bolivian insurance industry, and market forecasts to 2022.
Reasons to Buy
- Make strategic business decisions using in-depth historic and forecast market data related to the Bolivian insurance industry, and each category within it.
- Understand the demand-side dynamics, key market trends and growth opportunities in the Bolivian insurance industry.
- Assess the competitive dynamics in the insurance industry.
- Identify growth opportunities and market dynamics in key product categories.
Table of Contents
- Executive Summary
- Economy Overview
- Regulatory Risk
- Life Insurance - Trend and KPIs
- General Insurance - Trend and KPIs
- General Insurance - Market Share and Concentration by Line of Business
- Reinsurance Overview
- Distribution Overview
- Competitive Landscape
- Competitor Profiles
- Appendix
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Nacional Vida Seguros
- Alianza Vida de Seguros
- La Vitalicia Seguros
- La Boliviana Ciacruz Seguros Personales S.A.
- Crediseguro S.A. Seguros Personales
- Univida S.A.
- Seguros de Vida Fortaleza S.A.
- Seguros Provida S.A.
- Alianza Compañía
- La Boliviana Ciacruz
- Bisa Seguros
- Credinform International S.A.
- Fortaleza S.A.
- Latina Seguros
- Nacional Vida
- Bupa Insurance (Bolivia) S.A.
