Insurance Market Key Players, Competitive Landscape, Growth, Statistics, Revenue

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Increasing need for insurance policies across organizations to protect businesses from unforeseen losses is a key factor driving revenue growth of the insurance market

The new report titled ‘Global Insurance Market’, published by Emergen Research, is methodically curated by our team of analysts, keeping readers’ understanding in mind, and includes a wide-ranging database of industry distribution. Advent of new deep learning techniques and technologies, such as convolutional neural networks and Artificial Intelligence (AI) are positively impacting market revenue growth. AI has potential to effectively mimic reasoning, perception, learning and problem solving. Using AI, insurance providers can shift from current approach of ‘detect and repair’ to ‘predict and prevent’, thereby transforming every aspect of the insurance industry. Changing industry patterns will also result in customers becoming more adept at using advanced technologies to improve decision making, purchase decision, reduce cost, and optimize customer experience.

The globally-disrupting incidence has impacted nearly every aspect of this business domain. However, the latest study expounds on the present market scenario and forecasts the pandemic’s aftermath, with respect to this industry. Furthermore, the major aspects of the market have been discussed in the report, with expert opinions on the current status of the market.

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Property insurance segment revenue is expected to register a significantly rapid rate during the forecast period, owing to increasing number of owners taking coverage to protect property. The policy cavers financial reimbursement to renter or owner for a structure or its content in case of theft or damage.

Some of the key participants in this industry 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

The global Insurance market report studies the prudent tactics undertaken by the leading market players, such as partnerships and collaborations, mergers acquisitions, new product launches, and joint ventures.

Key regions covered in the report:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East Africa

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Web aggregators are insurance portals used to assist clients to compare insurance products by showing information of various products offered by different providers. When clients are seeking to purchase a product, web aggregators direct the clients to the provider.

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; 2018–2030)
    • 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; 2018–2030)
    • Public Insurance Providers
    • Private Insurance Providers
  • End-use Outlook (Revenue, USD Billion; 2018–2030)
    • Individuals
    • Corporate
    • Others
  • Sales Channel Outlook (Revenue, USD Billion; 2018–2030)
    • Direct Sales
    • Brokers
    • Insurance Agents
    • Web Aggregators
    • Insurance Marketing Firm
    • Online

Web aggregators receive rewards and numerations for leads converted into insurance policies. Several companies are partnering with these portals, which is expected to drive revenue growth of the web aggregators segment during the forecast period.

Questions addressed in the report:

  • What is the estimated market growth rate throughout the forecast period?
  • Which end-use industry is expected to witness the highest demand for Insurance in the near future?
  • What is the regulatory framework governing the application of Insurance in the food industry?
  • Which manufacturing processes are utilized for the production of Insurance?

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