Dublin, Sept. 17, 2020 (GLOBE NEWSWIRE) -- The "Insurance Providers Global Market Report 2020-30: COVID-19 Impact and Recovery" report has been added to ResearchAndMarkets.com's offering.
This report provides 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.
The global insurance providers market is expected to decline from $5139 billion in 2019 to $5010.2 billion in 2020 at a compound annual growth rate (CAGR) of -2.6%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 6% from 2021 and reach $5860 billion in 2023.
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Description:
Where is the largest and fastest growing market for the insurance providers? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Insurance Providers market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider insurance providers market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($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.
North America was the largest region in the global insurance providers market, accounting for 34% of the market in 2019. Asia Pacific was the second largest region accounting for 31% of the global insurance providers market. Eastern Europe was the smallest region in the global insurance providers market.
UBI, which allows Insurance Providers to vary premiums depending on the behavior of consumers, is gaining traction amongst auto insurers. In particular, it is used in vehicle insurance based on the vehicle usage and driving behavior of drivers. The popularity of UBI is driven by the increased use of smartphones with features such as Global Positioning System (GPS), accelerometers and g-force tracking, which can be used to substitute telematics devices with mobile apps. Under UBI, auto insurers are offering pay as you drive (PAYD) and pay how you drive (PHYD) services. While PAYD insurance premium is calculated based on the distance covered by a vehicle, PHYD insurance premium is calculated based on the driving behavior of insured consumers. UBI is rapidly growing in regions such as Europe, Asia and America. According to a report by EY, global market penetration of UBI services is expected to increase from about 1% in 2015 to 15% by 2020.
The insurance providers 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).
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Insurance Providers Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Insurance Providers Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Insurance Providers Market Supply Chain
5.1. Supply Chain
5.2. Distribution
5.3. End Customers
6. Insurance Providers Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Insurance Providers Market Trends And Strategies
8. Insurance Providers Market Size And Growth
8.1. Market Size
8.2. Historic Market Growth, Value ($ Billion)
8.2.1. Drivers Of The Market
8.2.2. Restraints On The Market
8.3. Forecast Market Growth, Value ($ Billion)
8.3.1. Drivers Of The Market
8.3.2. Restraints On The Market
9. Insurance Providers Market Regional Analysis
9.1. Global Insurance Providers Market, 2019, By Region, Value ($ Billion)
9.2. Global Insurance Providers Market, 2015-2019, 2023F, 2025F, 2030F, Historic And Forecast, By Region
9.3. Global Insurance Providers Market, Growth And Market Share Comparison, By Region
10. Insurance Providers Market Segmentation
10.1. Global Insurance Providers Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
10.2. Global Insurance Providers Market, Segmentation By End User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
10.3. Global Insurance Providers Market, Segmentation By Mode, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
11. Insurance Providers Market Segments
11.1. Global Life Insurance Providers Market, Segmentation By Type, 2015-2019, 2023F, 2025F, 2030F, Value ($ Billion) - Term Life Insurance; Whole Life Insurance; Variable Life Insurance; Equity Indexed Life Insurance; Accidental Death Insurance; Other Life Insurance
11.2. Global Property & Casualty Insurance Providers Market, Segmentation By Type, 2015-2019, 2023F, 2025F, 2030F, Value ($ Billion) - Automobile Insurance Carriers; Malpractice/Indemnity Insurance Carriers; Fidelity Insurance Carriers; Mortgage Guaranty Insurance Carriers; Homeowners Insurance Carriers; Surety Insurance Carriers; Liability Insurance Carriers
11.3. Global Health & Medical Insurance Providers Market, Segmentation By Type, 2015-2019, 2023F, 2025F, 2030F, Value ($ Billion) - Hospitalization Insurance; Hospital Daily Cash Benefit Insurance; Critical Illness Insurance; Domiciliary Insurance; Others - Health & Medical Insurance Providers
12. Insurance Providers Market Metrics
12.1. Insurance Providers Market Size, Percentage Of GDP, 2015-2023, Global
12.2. Per Capita Average Insurance Providers Market Expenditure, 2015-2023, Global
13. Asia-Pacific Insurance Providers Market
14. Western Europe Insurance Providers Market
15. Eastern Europe Insurance Providers Market
16. North America Insurance Providers Market
17. South America Insurance Providers Market
18. Middle East Insurance Providers Market
19. Africa Insurance Providers Market
20. Insurance Providers Market Competitive Landscape
20.1. Competitive Market Overview
20.2. Market Shares
20.3. Company Profiles
20.3.1. Unitedhealth Group
20.3.1.1. Company Overview
20.3.1.2. Products And Services
20.3.1.3. Strategy
20.3.1.4. Financial Performance
20.3.2. AXA
20.3.2.1. Company Overview
20.3.2.2. Products And Services
20.3.2.3. Strategy
20.3.2.4. Financial Performance
20.3.3. Allianz
20.3.3.1. Company Overview
20.3.3.2. Products And Services
20.3.3.3. Strategy
20.3.3.4. Financial Performance
20.3.4. Generali
20.3.4.1. Company Overview
20.3.4.2. Products And Services
20.3.4.3. Strategy
20.3.4.4. Financial Performance
20.3.5. Ping An
20.3.5.1. Company Overview
20.3.5.2. Products And Services
20.3.5.3. Strategy
20.3.5.4. Financial Performance
21. Key Mergers And Acquisitions In The Insurance Providers Market
22. Market Background: Insurance(Providers, Brokers and Re-Insurers) Market
22.1. Insurance(Providers, Brokers and Re-Insurers) Market Characteristics
22.2. Insurance(Providers, Brokers and Re-Insurers) Market Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F Growth, By Segment, Value ($ Billion), Global
22.3. Global Insurance(Providers, Brokers and Re-Insurers) Market, 2019, By Region, Value ($ Billion)
22.4. Global Insurance(Providers, Brokers and Re-Insurers) Market, 2015-2019, 2023F, 2025F, 2030F, Historic And Forecast, By Region
22.5. Global Insurance(Providers, Brokers and Re-Insurers) Market, 2015-2019, 2023F, 2025F, 2030F, Segmentation By Type, Value ($ Billion)
23. Recommendations
23.1. Global Insurance Providers Market In 2023- Growth Countries
23.2. Global Insurance Providers Market In 2023- Growth Segments
23.3. Global Insurance Providers Market In 2023- Growth Strategies
24. Appendix
25. Copyright And Disclaimer
Companies Mentioned
- Unitedhealth Group
- AXA
- Allianz
- Generali
- Ping An
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