Insurance Global Market Report 2021: COVID-19 Impact and Recovery to 2030 provides the strategists, marketers and senior management with the critical information they need to assess the global insurance providers market as it emerges from the COVID-19 shut down.
Reasons to Purchase
Description:
Where is the largest and fastest growing market for the insurance providers? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Insurance Providers market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider insurance providers market, and compares it with other markets.
Scope
Markets Covered:
1) By Type: Life Insurance; Property & Casualty Insurance; Health & Medical Insurance
2) By End User: Corporate; Individual
3) By Mode: Online; Offline
Subsegments Covered: Term Life Insurance; Whole Life Insurance; Variable Life Insurance; Equity Indexed Life Insurance; Accidental Death Insurance; Other Life Insurance; Automobile Insurance Carriers; Malpractice/Indemnity Insurance Carriers; Fidelity Insurance Carriers; Mortgage Guaranty Insurance Carriers; Homeowners Insurance Carriers; Surety Insurance Carriers; Liability Insurance Carriers; Hospitalization Insurance; Hospital Daily Cash Benefit Insurance; Critical Illness Insurance; Domiciliary Insurance; Other Health & Medical Insurance
Companies Mentioned: Unitedhealth Group; AXA; Allianz; Generali; Ping An
Metrics Covered: Number of Enterprises; Number of Employees
Countries: Argentina; Australia; Austria; Belgium; Brazil; Canada; Chile; China; Colombia; Czech Republic; Denmark; Egypt; Finland; France; Germany; Hong Kong; India; Indonesia; Ireland; Israel; Italy; Japan; Malaysia; Mexico; Netherlands; New Zealand; Nigeria; Norway; Peru; Philippines; Poland; Portugal; Romania; Russia; Saudi Arabia; Singapore; South Africa; South Korea; Spain; Sweden; Switzerland; Thailand; Turkey; UAE; UK; USA; Venezuela; Vietnam
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita, insurance providers indicators comparison.
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
Description:
Where is the largest and fastest growing market for the insurance providers? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Insurance Providers market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider insurance providers market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery.
- Market segmentations break down market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
- The insurance providers market section of the report gives context. It compares the insurance providers market with other segments of the insurance(providers, brokers and re-insurers) market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, insurance providers indicators comparison.
Scope
Markets Covered:
1) By Type: Life Insurance; Property & Casualty Insurance; Health & Medical Insurance
2) By End User: Corporate; Individual
3) By Mode: Online; Offline
Subsegments Covered: Term Life Insurance; Whole Life Insurance; Variable Life Insurance; Equity Indexed Life Insurance; Accidental Death Insurance; Other Life Insurance; Automobile Insurance Carriers; Malpractice/Indemnity Insurance Carriers; Fidelity Insurance Carriers; Mortgage Guaranty Insurance Carriers; Homeowners Insurance Carriers; Surety Insurance Carriers; Liability Insurance Carriers; Hospitalization Insurance; Hospital Daily Cash Benefit Insurance; Critical Illness Insurance; Domiciliary Insurance; Other Health & Medical Insurance
Companies Mentioned: Unitedhealth Group; AXA; Allianz; Generali; Ping An
Metrics Covered: Number of Enterprises; Number of Employees
Countries: Argentina; Australia; Austria; Belgium; Brazil; Canada; Chile; China; Colombia; Czech Republic; Denmark; Egypt; Finland; France; Germany; Hong Kong; India; Indonesia; Ireland; Israel; Italy; Japan; Malaysia; Mexico; Netherlands; New Zealand; Nigeria; Norway; Peru; Philippines; Poland; Portugal; Romania; Russia; Saudi Arabia; Singapore; South Africa; South Korea; Spain; Sweden; Switzerland; Thailand; Turkey; UAE; UK; USA; Venezuela; Vietnam
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita, insurance providers indicators comparison.
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Frequently Asked Questions about the Global Insurance Market
What is the estimated value of the Global Insurance Market?
What is the growth rate of the Global Insurance Market?
What is the forecasted size of the Global Insurance Market?
Who are the key companies in the Global Insurance Market?
| Report Attribute | Details |
|---|---|
| Published | January 2021 |
| Forecast Period | 2021 - 2025 |
| Estimated Market Value ( USD | $ 5050.31 billion |
| Forecasted Market Value ( USD | $ 6390.73 billion |
| Compound Annual Growth Rate | 6.1% |
| Regions Covered | Global |
Table of Contents
1. Executive Summary2. Report Structure7. Insurance Market Trends And Strategies8. Impact Of COVID-19 On Insurance22. Key Mergers And Acquisitions In The Insurance Market26. Copyright And Disclaimer
3. Insurance Market Characteristics
4. Insurance Market Product Analysis
5. Insurance Market Supply Chain
6. Insurance Market Customer Information
9. Insurance Market Size And Growth
10. Insurance Market Regional Analysis
11. Insurance Market Segmentation
12. Insurance Market Segments
13. Insurance Market Metrics
14. Asia-Pacific Insurance Market
15. Western Europe Insurance Market
16. Eastern Europe Insurance Market
17. North America Insurance Market
18. South America Insurance Market
19. Middle East Insurance Market
20. Africa Insurance Market
21. Insurance Market Competitive Landscape
23. Market Background: Insurance(Providers, Brokers and Re-Insurers) Market
24. Recommendations
25. Appendix
Executive Summary
Major companies in the insurance market include Unitedhealth Group; AXA; Allianz; Generali and Ping An.The global insurance market is expected to grow from $4474.49 billion in 2020 to $5050.31 billion in 2021 at a compound annual growth rate (CAGR) of 12.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $6390.73 billion in 2025 at a CAGR of 6%.
The insurance market consists of sales of insurance products by entities (organizations, sole traders and partnerships) that undertake underwriting (assuming the risk and assigning premiums) on annuities and insurance policies. Insurance providers invest premiums to build up a portfolio of financial assets to be used against future claims. Direct insurance providers are entities that are engaged in primary underwriting and assuming the risk of annuities and insurance policies. Reinsurance providers are businesses that assume all or part of the risk associated with an existing insurance policy or set of policies, originally underwritten by another insurance carrier (direct insurance carrier). The insurance providers market is segmented into life insurance; property & casualty insurance; and health & medical insurance.
North America was the largest region in the global insurance market, accounting for 34% of the market in 2020. Asia Pacific was the second largest region accounting for 31% of the global insurance market. Eastern Europe was the smallest region in the global insurance market.
Peer-to-peer insurance is gradually gaining prominence both in emerging and developed markets driven by reduced cost of premium in emerging countries resulting from improved internet penetration in those regions. Peer-to-peer insurance is based on pooling insurance premiums of participating individuals that can be used to compensate future uncertain losses and share the left-over amount among participants. It aims to reduce premium and overhead costs than traditional Insurance Providers, decrease inefficiencies and increase transparency of businesses.
The rapid growth in internet penetration and increased risks associated with internet use for critical transactions is driving the demand for cyber insurance. Cyber insurance covers internet-based risks and risks related to information technology infrastructure. It also covers property theft, business interruption, software and data loss, cyber extortion, network failure liability, cyber-crime and physical asset damage. For example, according to a report by McAfee and Center for Strategic and International Studies in 2018, cybercrimes costed businesses $600 billion globally. To capitalize on the concerns associated with cybercrimes, insurers are offering cyber insurance to customers to businesses with high exposure to cyberattacks.
Companies Mentioned
A selection of companies mentioned in this report includes:
- Unitedhealth Group
- AXA
- Allianz
- Generali
- Ping An
Methodology
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