Life Annuity Insurance Market in Czech Republic Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026

Published: Jan 2022 Pages: 120 SKU: IRTNTR72176

The life annuity insurance market share in the Czech Republic is expected to increase by USD 602.58 million from 2021 to 2026, at a CAGR of 4.90%.

This life annuity insurance market in the Czech Republic research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the life annuity insurance market in the Czech Republic segmentation by premium type (single premium and regular premium) and premium paid type (normally paid and one-time paid). The life annuity insurance market in Czech Republic report also offers information on several market vendors, including Allianz Group, CSOB Pojistovna, Generali Ceska pojistovna, Kooperativa pojistovna, MetLife Services and Solutions LLC, NN Zivotni pojistovna N.V., and UNIQA among others.

What will the Life Annuity Insurance Market Size in Czech Republic be During the Forecast Period?

Download the Free Report Sample to Unlock the Life Annuity Insurance Market Size in Czech Republic for the Forecast Period and Other Important Statistics

 

Life Annuity Insurance Market in Czech Republic: Key Drivers, Trends, and Challenges

The increasing adoption of life annuity insurance is notably driving the life annuity insurance market growth in the Czech Republic, although factors such as vulnerability toward cybercrime may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the life annuity insurance industry in the Czech Republic. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Life Annuity Insurance Market Driver in Czech Republic

One of the key factors driving the life annuity insurance market growth in the Czech Republic is the increasing adoption of life annuity insurance because of the rising awareness and early adoption of insurance by consumers. The Czech Republic has stringent government regulations for subscription insurance, including insurance for life and health, retirement, or others. With the increasing awareness and demand for life annuity insurance in the Czech Republic, insurers are moving all existing insurance policies to digital platforms. Moreover, increasing life expectancy, favorable savings associated with insurance, and tax incentives on insurance products further encourage the customers toward life annuity insurance policies. Thus, the life annuity insurance market in the Czech Republic is expected to witness exponential growth during the forecast period.

Key Life Annuity Insurance Market Trend in Czech Republic

Another key factor driving the life annuity insurance market growth in the Czech Republic is the integration of IT and analytic solutions by key vendors. Analytic solutions help in propagating effective marketing strategies and underwriting services. Currently, insurance brokers employ data analytic tools to attain customer data and maintain a competitive edge in the market. Such tools help identify hidden data patterns by utilizing complex models and predicting possible future outcomes. The integration of IT and analytics help customers in availing vital information about portfolio metrics, financial risks, pricing inadequacies, and profitability. Analytic solutions facilitate actuaries and underwriting, claims processing, the prevention of identity theft, the identification of misrepresentation, and the checking of insurance frauds. Hence, the adoption of advanced technologies by vendors is expected to positively impact the market in focus during the forecast period.

Key Life Annuity Insurance Market Challenge in Czech Republic

One of the key challenges to the life annuity insurance market growth in the Czech Republic is the vulnerability toward cybercrime. The incidents of cybercrime include the hacking of computers and in-house software and intrusion into the intranet portals. The life annuity insurance market in the Czech Republic can be affected by the misappropriation of data on devices or the cloud and the selling of clients' confidential information to competitors. Any cybersecurity failure or data misuse could expose an organization's information to hackers. It could also result in a huge monetary loss to the vendors, and hence, the problem needs to be addressed at the source. Thus, the threat of cybercrime is anticipated to hamper the growth of the life annuity insurance market growth in the Czech Republic during the forecast period.

This life annuity insurance market in the Czech Republic analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the life annuity insurance market in the Czech Republic as a part of the global specialized consumer services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the life annuity insurance market in the Czech Republic during the forecast period.

Who are the Major Life Annuity Insurance Market Vendors in Czech Republic?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Allianz Group
  • CSOB Pojistovna
  • Generali Ceska pojistovna
  • Kooperativa pojistovna
  • MetLife Services and Solutions LLC
  • NN Zivotni pojistovna N.V.
  • UNIQA

 

This statistical study of the life annuity insurance market in the Czech Republic encompasses successful business strategies deployed by the key vendors. The life annuity insurance market in the Czech Republic is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Allianz Group - The company offers life annuity insurance that includes property-casualty insurance, health and life insurance, asset management, and many more, under the brand name of Allianz Group.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The life annuity insurance market in Czech Republic forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Life Annuity Insurance Market in Czech Republic Value Chain Analysis

Our report provides extensive information on the value chain analysis for the life annuity insurance market in the Czech Republic, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global specialized consumer services market includes the following core components:

  • Inputs
  • Operations
  • Marketing and sales
  • Support activities
  • Innovation

The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.

What are the Revenue-generating Premium Type Segments in the Life Annuity Insurance Market in Czech Republic?

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The life annuity insurance market share growth in the Czech Republic by the single premium segment will be significant during the forecast period. The growing adoption of single premium life annuity insurance by affluent people such as politicians, celebrities, corporate heads, industrialists, businessmen, landlords, and others is driving the growth of the market in focus through this segment.

This report provides an accurate prediction of the contribution of all the segments to the growth of the life annuity insurance market size in the Czech Republic and actionable market insights on post COVID-19 impact on each segment.

 

Life Annuity Insurance Market Scope in Czech Republic

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Decelerate at a CAGR of 4.90%

Market growth 2022-2026

$ 602.58 million

Market structure

Fragmented

YoY growth (%)

5.40

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Allianz Group, CSOB Pojistovna, Generali Ceska pojistovna, Kooperativa pojistovna, MetLife Services and Solutions LLC, NN Zivotni pojistovna N.V., and UNIQA

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Life Annuity Insurance Market in Czech Republic Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive life annuity insurance market growth in the Czech Republic during the next five years
  • Precise estimation of the life annuity insurance market size in the Czech Republic and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the life annuity insurance industry in the Czech Republic
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of life annuity insurance market vendors in the Czech Republic 

We can help! Our analysts can customize this report to meet your requirements. Get in touch

***1. Executive Summary                         

               **1.1 Market Overview 

                              *Exhibit 01:  Key Finding 1

                              *Exhibit 02:  Key Finding 2

                              *Exhibit 03:  Key Finding 6

                              *Exhibit 04:  Key Finding 5

                              *Exhibit 05:  Key Finding 7

***2. Market Landscape                            

               **2.1 Market ecosystem             

                              *Exhibit 06:  Parent market

                              *Exhibit 07:  Market Characteristics

               **2.2 Value chain analysis           

                              *Exhibit 08:  Value chain analysis

                              *2.2.1    Inputs

                              *2.2.2    Operations

                              *2.2.3    Marketing and sales

                              *2.2.4    Support activities

                              *2.2.5    Innovations

***3. Market Sizing                      

               **3.1 Market definition

                              *Exhibit 09:   Offerings of vendors included in the market definition

               **3.2 Market segment analysis  

                              *Exhibit 10:   Market segments

               **3.3 Market size 2021 

               **3.4 Market outlook: Forecast for 2021 - 2026 

                              *Exhibit 11:  Czech Republic - Market size and forecast 2021 - 2026 ($ million)

                              *Exhibit 12:  Czech Republic market: Year-over-year growth 2021 - 2026 (%)

***4. Five Forces Analysis                         

               **4.1 Five Forces Summary         

                              *Exhibit 13:  Five forces analysis 2021 & 2026

               **4.2 Bargaining power of buyers            

                              *Exhibit 14:  Bargaining power of buyers

               **4.3 Bargaining power of suppliers        

                              *Exhibit 15:  Bargaining power of suppliers

               **4.4 Threat of new entrants     

                              *Exhibit 16:  Threat of new entrants

               **4.5 Threat of substitutes          

                              *Exhibit 17:  Threat of substitutes

               **4.6 Threat of rivalry   

                              *Exhibit 18:  Threat of rivalry

               **4.7 Market condition 

                              *Exhibit 19:  Market condition - Five forces 2021

***5. Market Segmentation by Premium type                 

               **5.1 Market segments

                              *The segments covered in this chapter are:

  • *Single premium
  • *Regular premium

                              *Exhibit 20:  Premium type - Market share 2021-2026 (%)

               **5.2 Comparison by Premium type        

                              *Exhibit 21:  Comparison by Premium type

               **5.3     Single premium - Market size and forecast 2021-2026     

                              *Exhibit 22:  Single premium - Market size and forecast 2021-2026 ($ million)

                              *Exhibit 23:  Single premium - Year-over-year growth 2021-2026 (%)

               **5.4     Regular premium - Market size and forecast 2021-2026  

                              *Exhibit 24:  Regular premium - Market size and forecast 2021-2026 ($ million)

                              *Exhibit 25:  Regular premium - Year-over-year growth 2021-2026 (%)

               **5.5     Market opportunity by Premium type    

                              *Exhibit 26:  Market opportunity by Premium type

***6. Market Segmentation by Premium paid type                       

               **6.1 Market segments

                              *The segments covered in this chapter are:

  • * Normally paid
  • *One time paid

                              *Exhibit 27:  Premium paid type - Market share 2021-2026 (%)

               **6.2 Comparison by Courses    

                              *Exhibit 28:  Comparison by Premium paid type

               **6.3     Normally paid - Market size and forecast 2021-2026        

                              *Exhibit 29:  Normally paid - Market size and forecast 2021-2026 ($ million)

                              *Exhibit 30:  Normally paid - Year-over-year growth 2021-2026 (%)

               **6.4     One time paid - Market size and forecast 2021-2026        

                              *Exhibit 31:  One time paid - Market size and forecast 2021-2026 ($ million)

                              *Exhibit 27:  Language courses - Year-Exhibit 32:  One time paid - Year-over-year growth 2021-2026 (%)over-year growth 2020-2025 (%)

               **6.5     Market opportunity by Premium paid type          

                              *Exhibit 33:  Market opportunity by Premium paid type

***7. Customer Landscape                       

               **7.1     Overview            

                              *Exhibit 34:  Customer landscape

***8. Drivers, Challenges, and Trends                  

               **8.1 Market drivers      

                              *8.1.1    Increasing adoption of life annuity insurance

                              *8.1.2    Increasing government regulations on mandatory insurance coverages

                              *8.1.3    Growing geriatric population in Czech Republic

               **8.2 Market challenges              

                              *8.2.1    Vulnerability toward cybercrime 

                              *8.2.2    High cost of selling and administering insurance

                              *8.2.3    Stringent regulatory compliances

                              *Exhibit 35:  Impact of drivers and challenges

               **8.3 Market trends      

                              *8.3.1    Integration of IT and analytic solutions

                              *8.3.2    Emergence of digital marketing platform

                              *8.3.3    Increased number of campaigns organized by vendors

 

***9. Vendor Landscape                            

               **9.1     Competitive scenario     

               **9.2     Overview            

                              *Exhibit 36:  Vendor landscape

               **9.3     Landscape disruption     

                              *Exhibit 37:  Landscape disruption

                              *Exhibit 38:  Industry risks

***10. Vendor Analysis               

               **10.1 Vendors covered              

                              *Exhibit 39:  Vendors covered

               **10.2 Market positioning of vendors    

                              *Exhibit 40:  Market positioning of vendors

               **10.3   Allianz Group     

                              *Exhibit 41:  Allianz Group - Overview

                              *Exhibit 42:  Allianz Group - Business segments

                              *Exhibit 43:  Allianz Group- Key news

                              *Exhibit 44:  Allianz Group - Key offerings

                              *Exhibit 45:  Allianz Group - Segment focus

               **10.4   CSOB Pojistovna              

                              *Exhibit 46:  CSOB Pojistovna - Overview

                              *Exhibit 47:  CSOB Pojistovna - Product and service

                              *Exhibit 48:  CSOB Pojistovna - Key offerings

               **10.5   Generali Ceska pojistovna           

                              *Exhibit 49:  Generali Ceska pojistovna - Overview

                              *Exhibit 50:  Generali Ceska pojistovna - Product and service

                              *Exhibit 51:  Generali Ceska pojistovna - Key offerings

               **10.6   Kooperativa pojistovna  

                              *Exhibit 52:  Kooperativa pojistovna - Overview

                              *Exhibit 53:  Kooperativa pojistovna - Product and service

                              *Exhibit 54:  Kooperativa pojistovna- Key news

                              *Exhibit 55:  Kooperativa pojistovna - Key offerings

               **10.7   MetLife Services and Solutions LLC          

                              *Exhibit 56:  MetLife Services and Solutions LLC - Overview

                              *Exhibit 57:  MetLife Services and Solutions LLC - Product and service

                              *Exhibit 58:  MetLife Services and Solutions LLC - Key offerings

               **10.8   NN Zivotni pojistovna N.V.          

                              *Exhibit 59:  NN Zivotni pojistovna N.V. - Overview

                              *Exhibit 60:  NN Zivotni pojistovna N.V. - Product and service

                              *Exhibit 61:  NN Zivotni pojistovna N.V. - Key offerings

               **10.9   UNIQA

                              *Exhibit 62:  UNIQA  - Overview

                              *Exhibit 63:  UNIQA  - Product and service

                              *Exhibit 64:  UNIQA  - Key offerings

***11. Appendix                           

               **11.1 Scope of the report         

                              *11.1.1 ????Market definition

                              *11.1.2 Objective

                              *11.1.3 Notes and caveats

               **11.2 Currency conversion rates for US$            

                              *Exhibit 65:  Currency conversion rates for US$

               **11.3 Research Methodology   

                              *Exhibit 66:  Research Methodology

                              *Exhibit 67:  Validation techniques employed for market sizing

                              *Exhibit 68:  Information sources

               **11.4 List of abbreviations        

                              *Exhibit 69:  List of abbreviations

                             

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.

INFORMATION 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

DATA 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

REPORT 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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Key Questions Answered

  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?

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