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Global Property and Casualty Insurance Market 2016-2020

  • Published: May 2016
  • Pages: 107
  • SKU: IRTNTR9411
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This market research report presents a comprehensive analysis of the key market trends, drivers, and challenges that influence the growth of global property and casualty insurance market. It also outlines the market shares for key regions such as the Americas, APAC, and EMEA. The leading vendors in this market are Allstate, Berkshire Hathaway, Liberty Mutual, State Farm, and Travelers.

Overview of the global property and casualty insurance market

Technavio’s market research analyst predicts the global property and casualty insurance market to grow at a CAGR of more than 5% by 2020.  The property insurance companies are recapitalizing, creating start-up capacity, and focusing on generating underwriting profits, to increase their profit margins during the forecast period. The key players in the market are aiming to maintain appropriate underwriting and pricing standards in the coming years. With a more flexible data management infrastructure and governance architecture, the sector will improve its transparency factor, which will help in the better formulation of models and frameworks to meet the demand of stakeholders.

To attract maximum customers, property and casualty insurance vendors are making use of cost-effective solutions in infrastructure, communications, and analytics. Several insurance companies are making use of social media platforms to collect customer feedback, resolve queries in real-time, and provide product updates. These platforms help the insurance companies to gain insights and scrutinize frauds. Moreover, the social media platforms boost transparency and provide an efficient platform for customers to evaluate different vendor offerings.

Geographical segmentation and analysis of the property and casualty insurance market

  • Americas
  • APAC
  • EMEA

During 2015, the Americas dominated the market and accounted for more than 46% of the total market share. Much of this region’s growth can be attributed to the favorable insurance environment and pro-business outlook. Factors such as digital transformation, market consolidation, and servitization of the industry will propel growth prospects for insurance companies in this region.

Competitive landscape and key vendors

This market is heavily regulated and fragmented. There is enormous competition among various vendors to be recognized as the fastest claim settling insurance company. High initial investments and fixed operational costs will restrict the entry of new players in the market.

Key players in the market include -

  • Allstate
  • Berkshire Hathaway
  • Liberty Mutual
  • State Farm
  • Travelers

Other prominent vendors in the property and casualty insurance market are American International Group, AXA, Chubb’s Federal Insurance, Continental Casualty, Farmers Insurance Group of Companies, Lloyd’s, Munich Re, Nationwide Mutual Insurance, State Farm Fire & Casualty, Wells Fargo, and Zurich Insurance Group.

Growth drivers, challenges, and upcoming trends: Increase in the customer connectivity

Upcoming trends such as a rise in customer connectivity are gaining momentum in the market. With more customers being interested in a click to call or click to chat options through different portals, there are tremendous growth opportunities for property and casualty insurance vendors to boost the quality of customer experience. The insurance companies are increasingly using digital marketing platforms for more customer engagement and better promotions of property and casualty insurance products.

This report provides a number of factors contributing to the adoption, limitations, and opportunities of the property and casualty insurance market. It also offers an analysis of each factor and an estimation of the extent to which the factors are likely to impact the overall market growth.

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 property and casualty insurance market?
  • What are the key market trends impacting the growth of the global property and casualty insurance market?
  • What are the challenges to market growth?
  • Who are the key vendors in the global property and casualty insurance market?
  • What are the market opportunities and threats faced by the vendors in the global property and casualty 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 property and casualty insurance market?

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

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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 property and casualty insurance
  • Types of property and casualty insurers
  • Property and casualty insurance transaction

PART 05: Market landscape

  • Market overview
  • Property and casualty insurance lines of business
  • Market size and forecast
  • Five forces analysis

PART 06: Market outlook of property and casualty insurance

PART 07: Geographical segmentation

  • Geographical segmentation 2015
  • Geographical segmentation 2020
  • Americas
  • EMEA
  • APAC

PART 08: Market drivers

  • Change in customer demographics and economic recovery
  • Consolidation in the industry
  • Increase in automobile sales
  • Different valuation strategies

PART 09: Impact of drivers

PART 10: Market challenges

  • Fraudulent motor vehicle claims
  • Number of risk variables in underwriting process
  • Impact on the pricing and rating system
  • Challenges faced by insurance brokerage firms
  • Lack of awareness and change in the regulatory environment in travel insurance

PART 11: Impact of drivers and challenges

PART 12: Market trends

  • Increase in the customer connectivity
  • Customer connectivity
  • Big data analytics
  • Innovations in property and casualty insurance
  • Improvement in capital management leading to greater performance of different investments
  • Leveraging social media channels for better market penetration

PART 13: Vendor landscape

  • Competitive landscape
  • Other prominent vendors

PART 14: Key vendor analysis

  • Allstate Insurance
  • Berkshire Hathaway
  • Liberty Mutual
  • State Farm
  • Travelers

PART 15: Appendix

  • List of abbreviations

PART 16: 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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