Insurance Market Revenue Poised for Significant Growth During the Forecast Period of 2020-2027
The global Insurance market size is expected to reach USD 8,921.86 Billion at a steady revenue CAGR of 6.2% in 2028, according to latest analysis by Emergen Research. Increasing number of legal cases and disputes arising from e-Commerce sector are some key factors driving steady revenue growth of the global legal ODR market. Increasing number of legal cases and disputes arising from e-Commerce sector are some key factors driving steady revenue growth of the global legal ODR market Insurance providers are offering various novel benefits and schemes to attract more customers and along with hospitalization, many are also offering wellness benefits and mental health support. Rapid digitalization is enabling insurance providers to adapt to and adopt more advanced technologies, which is expected to drive market revenue growth in the coming years. Information about profit-making strategies and developmental strategies of major companies and manufacturers.
Rise in need for insurance policies among organizations to protect businesses from unforeseen losses is driving growth of insurance market. The report further offers a complete value chain analysis along with an analysis of the downstream buyers and upstream raw materials. Rapidly increasing elderly population, early onset of aging, increasing number of individuals following sedentary lifestyles, and increasing prevalence of various lifestyle-related diseases such as diabetes and heart diseases, cancer, and others are also driving demand for health insurance. The globally-disrupting incidence has impacted nearly every aspect of this business domain. Insurance companies have introduced apps that help users to order medicines, book lab tests, consult health experts online, raise and track claims, and participate in fitness challenges.
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Key players in the market include Berkshire Hathaway, AXA SA, China Life Insurance Co. Ltd., Aviva PLC, Prudential PLC, United Health Group Incorporated, Anthem Inc., Kaiser Foundation Group of Health Plans, Munich Reinsurance Company, and Centene Corporation.
Upsurge in cybercrimes and fraud and risks associated with online transactions is driving growth in demand for cyber insurance, which is further driving global insurance market growth. Insurance Market Size – USD 57.25 million in 2020, Market Growth – CAGR of 17.5 %, Market Trends –Increasing number of organizations opting for legal ODR. It also covers strategies adopted by prominent players such as mergers and acquisitions, collaborations, joint ventures, product launches, and brand promotions, among others. The report also provides deeper insights into the technological advancements, industrial landscape, and emerging product and technological developments in the Insurance market. This is the latest report that is inclusive of the current effect of the coronavirus on the market and its forecasted trend. The coronavirus attack on the world economy has impacted all, and thus its impacts are elucidated in-depth in the report for the Insurance market.
Emergen Research has segmented the global Insurance market on the basis of insurance type, service providers, end-use, sales channel, and region:
Insurance Type Outlook (Revenue, USD Billion; 2018–2028)
Life Insurance
Property Insurance
Health Insurance
Liability Insurance
Fire Insurance
Motor Insurance or Auto Insurance
Social Insurance
Others (Travel, Marine, Guarantee, Home)
Service Providers Outlook (Revenue, USD Billion; 2018–2028)
Public Insurance Providers
Private Insurance Providers
End-use Providers Outlook (Revenue, USD Billion; 2018–2028)
Individuals
Corporate
Others
Sales Channel Outlook (Revenue, USD Billion; 2018–2028)
Direct Sales
Brokers
Insurance Agents
Web Aggregators
Insurance Marketing Firm
Online
Others
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Key geographical areas:
North America
Europe
Asia Pacific
Latin America
Market Taxonomy:
Chapter 1: Methodology & Scope
Definition and forecast parameters
Methodology and forecast parameters
Data Sources
Chapter 2:
Executive Summary
Business trends
Regional trends
Product trends
End-use trends
Chapter 3:
Industry Insights
Industry segmentation
Industry landscape
Vendor matrix
Technological and innovation landscape
Chapter 4:
Regional Landscape
Chapter 5:
Company Profile
Business Overview
Financial Data
Product Landscape
Strategic Outlook
Key questions addressed in the report:
What are the key factors driving the global Insurance market?
Who are the key manufacturers in this market space?
Who are the distributors, traders and dealers of this market?
What are the market opportunities and risks affecting the performance of the vendors in the global Insurance market?
What are the sales and revenue estimations for the top manufacturers in this market over the projected timeline?
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