Property and Casualty Insurance Market by Distribution Channel, Product Type, and Georaphy - Forecast and Analysis 2023-2027

Published: Oct 2023 Pages: 184 SKU: IRTNTR75412

Property and Casualty Insurance Market Forecast 2023-2027

The property and casualty insurance market is estimated to grow at a CAGR of 8.5% between 2022 and 2027. The market size is forecasted to increase by USD 676.06 million. Market growth hinges on various factors, notably the rise in unpredictable catastrophic events, the digital transformation of the insurance sector, and the escalating governmental mandates for compulsory insurance coverage. The surge in uncertain catastrophic events underscores the need for robust insurance solutions, driving market demand. Furthermore, the ongoing digitalization of the insurance industry is reshaping customer experiences, operational efficiency, and risk management strategies, driving market growth further. Additionally, the increasing regulatory landscape, with governments emphasizing mandatory insurance coverage across various sectors, is fueling market expansion. These factors collectively contribute to the dynamic growth trajectory of the insurance market, highlighting the crucial interplay between industry trends and regulatory frameworks in shaping market dynamics.

What will be the Size of the Market During the Forecast Period?

To learn more about this report, View Report Sample

Market Segmentation

This market report extensively covers market segmentation by distribution channel (direct business, agents, banks, and others), product type (fire insurance, motor insurance, marine insurance, aviation insurance, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

Market Dynamics and Customer Landscape

The market is driven by various factors, including the Automotive Industry growth and the increasing demand for Marine Insurance, Motor Insurance, and Fire Insurance. Insurance Density and Average Premium rates are key drivers shaping market penetration and competitiveness. Trends such as Digital Issuance and Digital Channels are revolutionizing customer interactions and policy management. However, challenges like managing Claim Ratio and navigating Foreign Partnership Insurers pose complexities. Strategic Investments and innovative Digital solutions are crucial for insurers to thrive in this dynamic landscape. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver

The digitalization of the insurance industry is notably driving market growth. Digitalization has led to significant changes in the insurance industry. Insurance companies are providing convenient, efficient, and personalized services to their clients. Insurtech companies leverage advanced technologies to offer innovative insurance products and services that are tailored to customers' preferences. This enables customers to easily compare insurance policies and choose the one that suits their demands. 

Moreover, insurance companies can use advanced tools to collect and analyze vast amounts of data. With the use of big data analytics and AI, they can provide personalized and targeted policies and pricing as well as risk management. The use of mobile apps and online platforms has also changed the insurance industry. Customers can easily access insurance services using their smartphones or computers, which makes the process of buying and managing insurance policies more convenient. These factors are expected to drive the growth of the global market during the forecast period.

Significant Market Trends

The increasing adoption of cloud-based solutions in the insurance industry is a key trend in the market. Cloud systems are cost-effective, as software services can be used on a pay-per-use basis. Limited requirements for hardware infrastructure, low dependency on in-house IT personnel, and low maintenance costs are some of the factors fueling the adoption of cloud-based solutions. This enables enterprises to focus on developing their core competencies.

Moreover, cloud-based property and casualty insurance solutions are flexible to scale up and down, depending on the company's requirements. They also enable high-speed deployment and low upfront costs. These solutions enable organizations to access data and services remotely. Moreover, they have a short implementation time, which further reduces the cost of implementation and improves the return on investment (ROI). Cloud-based property and casualty insurance solutions have various advantages compared with traditional property and casualty insurance offerings. Therefore, the rising adoption of cloud-based solutions in the insurance industry will boost the growth of the market during the forecast period.

Major Market Challenge

Data privacy and security concerns are challenging market growth. The insurance industry has been relying significantly more on technology in recent years for functions such as processing systems, online data, and electronic communication. However, technological advances make it easier for hackers and cybercriminals to access vulnerable data. The insurance industry can be adversely affected by the misuse of data from a device or the cloud. Any failure in cybersecurity can result in huge financial losses. The electronic vehicle (EV) revolution is reshaping the landscape of the fire insurance sector, prompting insurers to reassess risk factors and coverage options. With the rising popularity of EVs, the marine insurance sector witnesses a surge in gross written premiums, reflecting increased demand for coverage. Insurers are adapting to this shifting paradigm, innovating policies to meet the evolving needs of the market.

Moreover, the spread of COVID-19 compelled organizations to work remotely. Various organizations adopted remote working models even after the removal of lockdown measures. This has increased cybersecurity and data privacy risks for businesses. As per The Travelers Companies Travelers Risk Index Results 2022, cyber threats were the main concern for business decision-makers. Such issues can cause a loss of revenue for companies operating in the global market. These factors are expected to hinder the growth of the global market during the forecast period. 

Key Market Customer Landscape

The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Market Customer Landscape

Who are the Major Market Players?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Allianz SE - The company offers property and casualty insurance, such as environmental liability and personal accident insurance.

The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

  • American International Group Inc.
  • AXA Group
  • Berkshire Hathaway Inc.
  • Chubb Ltd.
  • CNA Financial Corp.
  • ICICI Bank Ltd.
  • Liberty Mutual Insurance Co.
  • Mitsubishi Corp
  • Munich Reinsurance Co.
  • Nationwide Mutual Insurance Co.
  • Sompo Holdings Inc.
  • State Farm Mutual Automobile Insurance Co.
  • The Allstate Corp.
  • The Travelers Co. Inc.
  • Toyota Motor Corp.
  • Universal Insurance Holdings Inc.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

What are the Fastest-Growing Segments in the Market?

The market is a dynamic sector that encompasses various insurance categories, including Marine Insurance, Motor Insurance, and Fire Insurance. One of the key metrics in this market is Insurance Density, which measures the level of insurance coverage relative to the population or specific segments. Premium rates play a crucial role in attracting customers, with insurers offering competitive rates based on risk assessment. The Automotive Industry has a significant impact on the market, especially with the advent of Electronic Vehicles (EVs). Insurers are adapting to the unique risks associated with EVs and exploring new opportunities for growth. Digital channels have revolutionized the insurance industry, enabling digital issuance of policies and enhancing customer experience. Insurers are leveraging digital technologies to streamline processes and improve efficiency. Claim ratio and Incurred claim ratio are important metrics that insurers monitor to assess their financial health and claims management strategies. Strategic partnerships with Foreign Insurers and smart Investments in technology and innovation are driving growth and competitiveness in the market.

The market share growth by the direct business segment will be significant during the forecast period. This segment includes the direct sale of insurance to buyers. Insurance companies provide a range of services, such as insurance quotes, policy applications, and claims management in direct business. Customers can rely on insurance agencies for all-around support throughout.

Get a glance at the market contribution of various segments View the PDF Sample

The direct business segment was valued at USD 458.38 million in 2017 and continued to grow until 2021. Insurance companies have a better understanding of customers' needs and preferences, which allows them to provide personalized services. This helps them create strong relationships with their clients and establish trust. These factors are expected to drive the direct business segment in the global market during the forecast period.

Which are the Key Regions for the Market?

For more insights on the market share of various regions Download PDF Sample now!

North America is estimated to contribute 45% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

Moreover, the presence of a large and affluent high-income group is driving the growth of the market in North America. This has created a significant demand for insurance products, especially property and casualty insurance. The high level of innovation and the adoption of advanced technologies are also driving the growth of the regional market. Insurers are leveraging advanced technologies to develop new products, enhance customer experience, and improve operational efficiency. The regulatory environment in North America is also contributing to the growth of the market in the region. The regulatory framework in the region is designed to protect consumers and ensure fair competition among insurers. Therefore, regulators work closely with insurance companies to promote market stability, consumer protection, and financial soundness. Such factors will drive the growth of the market in the region during the forecast period.

Segment Overview

The market report forecasts market growth by revenue at global, regional, & country levels and provides a market growth analysis of the latest trends and growth opportunities from 2017 to 2027. 

  • Distribution Channel Outlook
    • Direct business 
    • Agents 
    • Banks 
    • Others 
  • Product Type Outlook 
    • Fire insurance 
    • Motor insurance 
    • Marine insurance
    • Aviation insurance
    • Others 
  • Region Outlook 
    • North America
      • The U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa
    • South America
      • Argentina
      • Brazil
      • Chile

Market Analyst Overview

The market is influenced by various factors such as Insurance Density and Premium rates, particularly in the Automotive Industry where Electronic Vehicles are gaining prominence. The advent of Digital Insurance and Web Aggregators has reshaped the industry, with both Public Sector Insurers and Private Sector Insurers adapting to the digital era. Key segments like Property and Casualty Insurers, Vehicle Insurance, and Fire Insurance witness significant activity, with Marine Insurance and Motor Insurance also contributing to the market's Gross Written Premium.

Moreover, the rise of Digital Channels and Online Insurance platforms has led to a shift in Customer Service and Sales strategies, with a focus on Digital Issuance and Online Property and Casualty Insurance. Cyber Risks have emerged as a concern, prompting insurers to invest in Advanced Analytics and Artificial Intelligence for Risk Management. The Insurance Value Chain is undergoing digitization, with a strong emphasis on Smart Operations and Agile Workforces. Regulatory frameworks and partnerships with nontraditional providers also shape the Insurance Industry, driving Product Development and Customer Value Propositions.

Furthermore, the market is undergoing significant transformations due to several key factors such as Marine Insurance's gross written premium. With the rise of Electronic Vehicles (EVs), insurance companies are adapting their policies and premiums to cater to this growing segment. Property and Casualty Insurers are exploring new ways to cover EV-related risks and offer competitive rates. Apart from EVs, the market also encompasses various Other Insurance categories such as Fire Insurance and Marine Insurance, each with its own Gross Written Premium metrics. Motor Insurance is another crucial aspect, with insurers closely monitoring the Motor Insurance Gross Written Premium to assess market trends.

In addition, Artificial Intelligence (AI) plays a pivotal role in modern Property and Casualty Insurance operations, particularly in areas like Underwriting, Claims Management, and Risk Assessment. Insurers are also focusing on Strategic Workforce Planning to optimize their human resources and improve operational efficiency. Regulation is a key driver shaping the market landscape, ensuring compliance and consumer protection. Investments in technology and innovative solutions, along with collaborations with Foreign Partnership Insurers, are driving growth and enhancing the industry's competitiveness

Market Scope

Report Coverage

Details

Page number

184

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 8.5%

Market growth 2023-2027

USD 676.06 million

Market structure

Fragmented

YoY growth 2022-2023(%)

7.5

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 45%

Key countries

US, China, Japan, UK, and France

Competitive landscape

 Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks

Key companies profiled

Allianz SE, American International Group Inc., AXA Group, Berkshire Hathaway Inc., Chubb Ltd., CNA Financial Corp., ICICI Bank Ltd., Liberty Mutual Insurance Co., Mitsubishi Corp, Munich Reinsurance Co., Nationwide Mutual Insurance Co., Sompo Holdings Inc., State Farm Mutual Automobile Insurance Co., The Allstate Corp., The Travelers Co. Inc., Toyota Motor Corp., Universal Insurance Holdings Inc., USAA, Zurich Insurance Co. Ltd., and PICC Property and Casualty Co. Ltd.

Market dynamics

Parent market analysis, Market forecasting, 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.

View PDF Sample

What are the Key Data Covered in this Market Research Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the market between 2023 and 2027
  • Precise estimation of the size of the market and its contribution to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the market across North America, Europe, APAC, South America, and Middle East and Africa
  • Thorough market growth and forecasting analysis of the market’s competitive landscape and detailed information about companies
  • Comprehensive market research and growth analysis of factors that will challenge the growth of market companies

We can help! Our analysts can customize this market research report to meet your requirements. 

Get in touch

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Product Type
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global property and casualty insurance market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on global property and casualty insurance market 2017 - 2021 ($ million)
    • 4.2 Distribution Channel Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – Distribution Channel Segment 2017 - 2021 ($ million)
    • 4.3 Product Type Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – Product Type Segment 2017 - 2021 ($ million)
    • 4.4 Geography Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
    • 4.5 Country Segment Analysis 2017 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by Distribution Channel

    • 6.1 Market segments
      • Exhibit 30: Chart on Distribution Channel - Market share 2022-2027 (%)
      • Exhibit 31: Data Table on Distribution Channel - Market share 2022-2027 (%)
    • 6.2 Comparison by Distribution Channel
      • Exhibit 32: Chart on Comparison by Distribution Channel
      • Exhibit 33: Data Table on Comparison by Distribution Channel
    • 6.3 Direct business - Market size and forecast 2022-2027
      • Exhibit 34: Chart on Direct business - Market size and forecast 2022-2027 ($ million)
      • Exhibit 35: Data Table on Direct business - Market size and forecast 2022-2027 ($ million)
      • Exhibit 36: Chart on Direct business - Year-over-year growth 2022-2027 (%)
      • Exhibit 37: Data Table on Direct business - Year-over-year growth 2022-2027 (%)
    • 6.4 Agents - Market size and forecast 2022-2027
      • Exhibit 38: Chart on Agents - Market size and forecast 2022-2027 ($ million)
      • Exhibit 39: Data Table on Agents - Market size and forecast 2022-2027 ($ million)
      • Exhibit 40: Chart on Agents - Year-over-year growth 2022-2027 (%)
      • Exhibit 41: Data Table on Agents - Year-over-year growth 2022-2027 (%)
    • 6.5 Banks - Market size and forecast 2022-2027
      • Exhibit 42: Chart on Banks - Market size and forecast 2022-2027 ($ million)
      • Exhibit 43: Data Table on Banks - Market size and forecast 2022-2027 ($ million)
      • Exhibit 44: Chart on Banks - Year-over-year growth 2022-2027 (%)
      • Exhibit 45: Data Table on Banks - Year-over-year growth 2022-2027 (%)
    • 6.6 Others - Market size and forecast 2022-2027
      • Exhibit 46: Chart on Others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 47: Data Table on Others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 48: Chart on Others - Year-over-year growth 2022-2027 (%)
      • Exhibit 49: Data Table on Others - Year-over-year growth 2022-2027 (%)
    • 6.7 Market opportunity by Distribution Channel
      • Exhibit 50: Market opportunity by Distribution Channel ($ million)
      • Exhibit 51: Data Table on Market opportunity by Distribution Channel ($ million)

    7 Market Segmentation by Product Type

    • 7.1 Market segments
      • Exhibit 52: Chart on Product Type - Market share 2022-2027 (%)
      • Exhibit 53: Data Table on Product Type - Market share 2022-2027 (%)
    • 7.2 Comparison by Product Type
      • Exhibit 54: Chart on Comparison by Product Type
      • Exhibit 55: Data Table on Comparison by Product Type
    • 7.3 Fire insurance - Market size and forecast 2022-2027
      • Exhibit 56: Chart on Fire insurance - Market size and forecast 2022-2027 ($ million)
      • Exhibit 57: Data Table on Fire insurance - Market size and forecast 2022-2027 ($ million)
      • Exhibit 58: Chart on Fire insurance - Year-over-year growth 2022-2027 (%)
      • Exhibit 59: Data Table on Fire insurance - Year-over-year growth 2022-2027 (%)
    • 7.4 Motor insurance - Market size and forecast 2022-2027
      • Exhibit 60: Chart on Motor insurance - Market size and forecast 2022-2027 ($ million)
      • Exhibit 61: Data Table on Motor insurance - Market size and forecast 2022-2027 ($ million)
      • Exhibit 62: Chart on Motor insurance - Year-over-year growth 2022-2027 (%)
      • Exhibit 63: Data Table on Motor insurance - Year-over-year growth 2022-2027 (%)
    • 7.5 Marine insurance - Market size and forecast 2022-2027
      • Exhibit 64: Chart on Marine insurance - Market size and forecast 2022-2027 ($ million)
      • Exhibit 65: Data Table on Marine insurance - Market size and forecast 2022-2027 ($ million)
      • Exhibit 66: Chart on Marine insurance - Year-over-year growth 2022-2027 (%)
      • Exhibit 67: Data Table on Marine insurance - Year-over-year growth 2022-2027 (%)
    • 7.6 Aviation insurance - Market size and forecast 2022-2027
      • Exhibit 68: Chart on Aviation insurance - Market size and forecast 2022-2027 ($ million)
      • Exhibit 69: Data Table on Aviation insurance - Market size and forecast 2022-2027 ($ million)
      • Exhibit 70: Chart on Aviation insurance - Year-over-year growth 2022-2027 (%)
      • Exhibit 71: Data Table on Aviation insurance - Year-over-year growth 2022-2027 (%)
    • 7.7 Others - Market size and forecast 2022-2027
      • Exhibit 72: Chart on Others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 73: Data Table on Others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 74: Chart on Others - Year-over-year growth 2022-2027 (%)
      • Exhibit 75: Data Table on Others - Year-over-year growth 2022-2027 (%)
    • 7.8 Market opportunity by Product Type
      • Exhibit 76: Market opportunity by Product Type ($ million)
      • Exhibit 77: Data Table on Market opportunity by Product Type ($ million)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 78: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 79: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 80: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 81: Chart on Geographic comparison
      • Exhibit 82: Data Table on Geographic comparison
    • 9.3 North America - Market size and forecast 2022-2027
      • Exhibit 83: Chart on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 84: Data Table on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 85: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 86: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.4 Europe - Market size and forecast 2022-2027
      • Exhibit 87: Chart on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 88: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 89: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 90: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.5 APAC - Market size and forecast 2022-2027
      • Exhibit 91: Chart on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 92: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 93: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 94: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 9.6 South America - Market size and forecast 2022-2027
      • Exhibit 95: Chart on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 96: Data Table on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 97: Chart on South America - Year-over-year growth 2022-2027 (%)
      • Exhibit 98: Data Table on South America - Year-over-year growth 2022-2027 (%)
    • 9.7 Middle East and Africa - Market size and forecast 2022-2027
      • Exhibit 99: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 100: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 101: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Exhibit 102: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • 9.8 US - Market size and forecast 2022-2027
      • Exhibit 103: Chart on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 104: Data Table on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 105: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 106: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.9 China - Market size and forecast 2022-2027
      • Exhibit 107: Chart on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 108: Data Table on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 109: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 110: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.10 Japan - Market size and forecast 2022-2027
      • Exhibit 111: Chart on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 112: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 113: Chart on Japan - Year-over-year growth 2022-2027 (%)
      • Exhibit 114: Data Table on Japan - Year-over-year growth 2022-2027 (%)
    • 9.11 UK - Market size and forecast 2022-2027
      • Exhibit 115: Chart on UK - Market size and forecast 2022-2027 ($ million)
      • Exhibit 116: Data Table on UK - Market size and forecast 2022-2027 ($ million)
      • Exhibit 117: Chart on UK - Year-over-year growth 2022-2027 (%)
      • Exhibit 118: Data Table on UK - Year-over-year growth 2022-2027 (%)
    • 9.12 France - Market size and forecast 2022-2027
      • Exhibit 119: Chart on France - Market size and forecast 2022-2027 ($ million)
      • Exhibit 120: Data Table on France - Market size and forecast 2022-2027 ($ million)
      • Exhibit 121: Chart on France - Year-over-year growth 2022-2027 (%)
      • Exhibit 122: Data Table on France - Year-over-year growth 2022-2027 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 123: Market opportunity by geography ($ million)
      • Exhibit 124: Data Tables on Market opportunity by geography ($ million)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 125: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 126: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 127: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 128: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 129: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 130: Matrix on vendor position and classification
            • 12.3 Allianz SE
              • Exhibit 131: Allianz SE - Overview
              • Exhibit 132: Allianz SE - Business segments
              • Exhibit 133: Allianz SE - Key news
              • Exhibit 134: Allianz SE - Key offerings
              • Exhibit 135: Allianz SE - Segment focus
            • 12.4 American International Group Inc.
              • Exhibit 136: American International Group Inc. - Overview
              • Exhibit 137: American International Group Inc. - Business segments
              • Exhibit 138: American International Group Inc. - Key news
              • Exhibit 139: American International Group Inc. - Key offerings
              • Exhibit 140: American International Group Inc. - Segment focus
            • 12.5 AXA Group
              • Exhibit 141: AXA Group - Overview
              • Exhibit 142: AXA Group - Business segments
              • Exhibit 143: AXA Group - Key offerings
              • Exhibit 144: AXA Group - Segment focus
            • 12.6 Berkshire Hathaway Inc.
              • Exhibit 145: Berkshire Hathaway Inc. - Overview
              • Exhibit 146: Berkshire Hathaway Inc. - Business segments
              • Exhibit 147: Berkshire Hathaway Inc. - Key news
              • Exhibit 148: Berkshire Hathaway Inc. - Key offerings
              • Exhibit 149: Berkshire Hathaway Inc. - Segment focus
            • 12.7 Chubb Ltd.
              • Exhibit 150: Chubb Ltd. - Overview
              • Exhibit 151: Chubb Ltd. - Business segments
              • Exhibit 152: Chubb Ltd. - Key news
              • Exhibit 153: Chubb Ltd. - Key offerings
              • Exhibit 154: Chubb Ltd. - Segment focus
            • 12.8 CNA Financial Corp.
              • Exhibit 155: CNA Financial Corp. - Overview
              • Exhibit 156: CNA Financial Corp. - Business segments
              • Exhibit 157: CNA Financial Corp. - Key offerings
              • Exhibit 158: CNA Financial Corp. - Segment focus
            • 12.9 Liberty Mutual Insurance Co.
              • Exhibit 159: Liberty Mutual Insurance Co. - Overview
              • Exhibit 160: Liberty Mutual Insurance Co. - Business segments
              • Exhibit 161: Liberty Mutual Insurance Co. - Key offerings
              • Exhibit 162: Liberty Mutual Insurance Co. - Segment focus
            • 12.10 Munich Reinsurance Co.
              • Exhibit 163: Munich Reinsurance Co. - Overview
              • Exhibit 164: Munich Reinsurance Co. - Business segments
              • Exhibit 165: Munich Reinsurance Co. - Key offerings
              • Exhibit 166: Munich Reinsurance Co. - Segment focus
            • 12.11 Nationwide Mutual Insurance Co.
              • Exhibit 167: Nationwide Mutual Insurance Co. - Overview
              • Exhibit 168: Nationwide Mutual Insurance Co. - Product / Service
              • Exhibit 169: Nationwide Mutual Insurance Co. - Key offerings
            • 12.12 Sompo Holdings Inc.
              • Exhibit 170: Sompo Holdings Inc. - Overview
              • Exhibit 171: Sompo Holdings Inc. - Business segments
              • Exhibit 172: Sompo Holdings Inc. - Key news
              • Exhibit 173: Sompo Holdings Inc. - Key offerings
              • Exhibit 174: Sompo Holdings Inc. - Segment focus
            • 12.13 State Farm Mutual Automobile Insurance Co.
              • Exhibit 175: State Farm Mutual Automobile Insurance Co. - Overview
              • Exhibit 176: State Farm Mutual Automobile Insurance Co. - Product / Service
              • Exhibit 177: State Farm Mutual Automobile Insurance Co. - Key offerings
            • 12.14 The Allstate Corp.
              • Exhibit 178: The Allstate Corp. - Overview
              • Exhibit 179: The Allstate Corp. - Business segments
              • Exhibit 180: The Allstate Corp. - Key offerings
              • Exhibit 181: The Allstate Corp. - Segment focus
            • 12.15 The Travelers Co. Inc.
              • Exhibit 182: The Travelers Co. Inc. - Overview
              • Exhibit 183: The Travelers Co. Inc. - Business segments
              • Exhibit 184: The Travelers Co. Inc. - Key offerings
              • Exhibit 185: The Travelers Co. Inc. - Segment focus
            • 12.16 Toyota Motor Corp.
              • Exhibit 186: Toyota Motor Corp. - Overview
              • Exhibit 187: Toyota Motor Corp. - Business segments
              • Exhibit 188: Toyota Motor Corp. - Key offerings
              • Exhibit 189: Toyota Motor Corp. - Segment focus
            • 12.17 Zurich Insurance Co. Ltd.
              • Exhibit 190: Zurich Insurance Co. Ltd. - Overview
              • Exhibit 191: Zurich Insurance Co. Ltd. - Business segments
              • Exhibit 192: Zurich Insurance Co. Ltd. - Key offerings
              • Exhibit 193: Zurich Insurance Co. Ltd. - Segment focus

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 194: Inclusions checklist
                • Exhibit 195: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 196: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 197: Research methodology
                • Exhibit 198: Validation techniques employed for market sizing
                • Exhibit 199: Information sources
              • 13.5 List of abbreviations
                • Exhibit 200: List of abbreviations
              • adoption of multichannel marketing strategies: The key vendors in the market are striving to expand their target customer base by investing in marketing and promotional activities. Large specialized consumer service providers aim at strengthening their presence by investing in brand visibility activities, celebrity endorsements, and marketing through channels such as television, radio, the Internet, print media, posters, and direct mails. The competitors also use a targeted advertising approach and launch advertisements that are designed and crafted to promote the services and communicate the brand positioning.
                • attrition and training: Professional, skilled, and unskilled workforce is required to provide specialized consumer services. However, there is a shortage of skilled and professional workforce to meet the demand. For instance, in security services, a skilled workforce is required when new monitoring devices and security gadgets are developed and adopted. Several vendors provide rigorous training to their employees about the handling of critical tasks while serving specialized consumer services. However, the retention of such a workforce is a major challenge.

                  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

                  PURCHASE FULL REPORT OF

                  property and casualty insurance market

                  QUICK BUY

                  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?

                  Why should you prefer Technavio's market insights report?

                  • Off-the-shelf research reports
                  • Reports can be tailored to meet the customer's needs
                  • Trusted by more than 100 fortune 500 organizations
                  • Information about the market's key drivers, trends, and challenges
                  • Parent market analysis
                  • Every week, 50,000 people visit our subscription platform
                  • Detailed vendors report with competitive landscape
                  • Covid-19 impact and recovery analysis
                  • Data on revenue-generating market segments
                  • Details on the market shares of various regions
                  • Five-force market analysis