Global Catastrophe Insurance Market 2016-2020

  • Published: Sep 2016
  • Pages: 83
  • SKU: IRTNTR10295
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This market research report analyzes the key players in the global catastrophe insurance market such as AIG, Allianz, AXA, Berkshire Hathaway, and Lloyds. The report presents a competitive analysis of the market based on different geographical regions such as the Americas, APAC, and EMEA. The report also presents a detailed analysis of all the major factors that will drive and challenge market growth and the key market trends as well.

Global outlook of the catastrophe insurance market

Technavio’s market research analysts predict a steady growth of the global catastrophe insurance market in the next four years by calculating the growth of the global insurance losses market which is expected to grow at a CAGR of more than 5% by 2020. This industry research report identifies the pricing and valuation strategies of catastrophe bonds to be one of the major factors that will have a positive impact on the growth of this market in the coming years. Since the insurance industry is cyclical, insurance providers have the need to formulate different strategies that bring in stable earnings to earn positive yields and generate cash flows. Catastrophe bonds help investors to earn good returns that are uncorrelated with the broader financial markets and also helps portfolio managers understand the attributes of pricing trends, and in turn, make informed decisions in allocating capital. Cat bonds or catastrophic bonds can transfer insurance risk to the capital markets, and have evolved into valuable risk management and investment tools and also provide an alternative means to capitalize reinsurance transactions.

Realizing the need to broaden their Internet-based strategies, insurance companies will soon start leveraging social media channels for better market penetration and customer connectivity. Social media can also be used by insurance providers as a marketing channel for launching new catastrophic insurance plans and services. Several insurance providers have already started using social media platforms to collect customer feedback, resolve queries in real-time, provide updates on products, and also for investigating insurance frauds. Moreover, social media platforms can also help insurance providers boost their transparency and offer customers a platform to review catastrophe coverage offered by different vendors.

Competitive landscape and key vendors

Insurance companies are currently focusing on the underwriting period that ranges from 1 year to 5 years to help them clearly understand the impact of climatic changes in the future with the help of the Cat models. The coming years will witness heavy participation from investors, policymakers, and corporate risk managers, which in turn, will help deepen risk analysis. Several insurers are making constant efforts to adjust the stochastic event set and hazard module that represents different projections from climate models. This will further aid in understanding the future risk and associated losses through the window. Moreover, catastrophic insurance vendors are also focusing on practices that will help them in exploring the impacts of particular geographies and infrastructure types and are also making use of vulnerability modifiers that will help them minimize future risks and hazards. The growing demand for minimizing future risks and hazards will also bring in more opportunities for partnerships between the insurance and Cat modeling community and the climate modeling community.

The leading vendors in the market are -

  • AIG
  • Allianz
  • AXA
  • Berkshire Hathaway
  • Lloyds

The other prominent vendors in the market are Allstate, Aviva, Liberty Mutual, and Zurich Insurance Group.

Geographical segmentation and analysis of the catastrophe insurance market

  • Americas
  • APAC
  • EMEA

This market study predicts that in terms of geographical regions, the Americas will be the major revenue contributor to the catastrophe insurance market throughout the forecast period will account for more than 65% of the total market shares by 2020. Factors such as digital transformation, market consolidation, and servitization of the industry impact the growth of the market. Analysts estimate that during the next four years, the catastrophic health care market will grow at a CAGR of more than 4% in this region.

Key questions answered in the report include

  • What will the market size and the growth rate be in 2020?
  • What are the key factors driving the global catastrophe insurance market?
  • What are the key market trends impacting the growth of the global catastrophe insurance market?
  • What are the challenges to market growth?
  • Who are the key vendors in the global catastrophe insurance market?
  • What are the market opportunities and threats faced by the vendors in the global catastrophe insurance market?
  • Trending factors influencing the market shares of the Americas, APAC, and EMEA.
  • What are the key outcomes of the five forces analysis of the global catastrophe insurance market?

Technavio also offers customization on reports based on specific client requirement.

Related reports

Catastrophe insurance is a kind of insurance that protects both commercial and residential sectors against natural disasters like floods and hurricanes, earthquakes, and man-made adversities such as terrorist attacks. Besides human fatalities, natural catastrophes also cause significant financial losses. This type of insurance is generally excluded from standard hazard insurance policies owing to its low-probability. Insurers adapt to uncertain catastrophic risks by increasing their insurance rates, which in turn leads to lower loss ratios post-catastrophic events. Catastrophic losses due to natural disasters are very problematic and complicated from an insurance standpoint. The firms with low levels of homeowners’ premiums are most adversely affected by the catastrophes.

The report, global catastrophe insurance market, is part of Technavio’s ICT research portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as automatic identification system, cloud computing, data center, enterprise application, IT security, ITO and BPO, and product lifecycle management. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.

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Table of Contents

PART 01: Executive summary

  • Highlights

PART 02: Scope of  the report

  • Market overview
  • Top-vendor offerings

PART 03: Market research methodology

  • Research methodology
  • Economic indicators

PART 04: Introduction

  • Key market highlights
  • Definition of catastrophe insurance
  • Difference between catastrophe and non-catastrophe exposure
  • Catastrophe insurance transaction

PART 05: Market landscape

  • Market overview
  • Global insured losses and forecast

Five forces analysis

PART 06: Geographical segmentation

  • Geographical segmentation
  • Americas
  • APAC
  • EMEA

PART 07: Market drivers

  • Catastrophe bond pricing and valuation strategies
  • Regulatory support for public-private cooperation on building resilient infrastructure and better risk governance
  • Climatic changes

PART 08: Impact of drivers

PART 09: Market challenges

  • Impact of catastrophic losses on the insurers' balance sheets and on pricing and rating system
  • Modeling of climatic hazards
  • Challenges faced by insurance brokerage firms

PART 10: Impact of drivers and challenges

PART 11: Market trends

  • Improvement in capital management leading to greater performance of different investments
  • Use of big data analytics to design catastrophe policies
  • Leveraging social media channels for better market penetration and for better customer connectivity

PART 12: Vendor landscape

  • Competitive landscape
  • Other prominent vendors

PART 13: Key vendor profiles

  • American International Group, Inc.
  • Allianz
  • AXA
  • Berkshire Hathaway
  • Lloyds

PART 14: Appendix

  • List of abbreviations

PART 15: Explore Technavio

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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