Market Research

Cheap Insurance Market – Check What Segment Global Players are Bypassing

Jun 22, 2020 4:42 AM ET
iCrowd Newswire - Jun 22, 2020

AMA Research added a comprehensive research document of 200+ pages on ‘Cheap Insurance’ market with detailed insights on growth factors and strategies. The study segments key regions that includes North America, Europe, Asia-Pacific with country level break-up and provide volume* and value related cross segmented information by each country. Some of the important players from a wide list of coverage used under bottom-up approach are Axa S.A. (France), Munich Reinsurance (Germany), Allianz SE (Germany), The Allstate Corporation (United States), State Farm Insurance (United States), Berkshire Hathaway (United States), Nippon Life Insurance (Japan), Assicurazioni Generali S.p.A. (Italy), American International Group, Inc. (United States), MetLife, Inc. (United States).

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Cheap insurance is related to cover risks usually for a shorter period such as one year. It provides various advantages such as provides protection against the occurrence of uncertain events, financial support, co-operative method of spreading risks and others. Demand for cheap insurance has increased, due to the rising number of the consumer from APAC region such as India. For instance, according to India Brand Equity Foundation, the non-life insurance companies witnessed increase of 13.1% in their collective premium in November to more than USD 20.09 billion. Therefore, it will help to increase the market growth.

Market Segmentation
by  Application (Motor Insurance {Car, Bike, Scooter, Others}, Marine Insurance, Medical Insurance, Fire Insurance), Policy Term (0-5 Years, 5-10 Years, 10 Years or above), Discount Types (Safety Discounts, Building Discounts, Group Discounts, Loyalty Discounts), Incurred Claim Ratio (0-60%, 60-80%, 80% or above)

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Highlights of Influencing Trends: Introduction of various technology such as artificial intelligence, machine learning and others are some major trends of the market.

Market Growth Drivers: There is a significant demand for cheap insurance, increasing awareness and a rise in population. For instance, according to India Brand Equity Foundation,  Gross direct premiums of non-life insurers in India reached more than USD 13.66 billion in FY20 gross direct premiums reached USD 5.87 billion) billion. Hence, it will affect the growth of the market in the future.

Restraints: Growing Inflation Rate is Causing Increase in Costs & Policy Cancellations

Challenges: It is found that, sometimes, the total amount of premium might be higher than the policy amount receivable on maturity, which cloud be challenges for market growth.

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Country level Break-up includes:
North America (United States, Canada and Mexico)
Europe (Germany, France, United Kingdom, Spain, Italy, Netherlands, Switzerland, Nordic, Others)
Asia-Pacific (Japan, China, Australia, India, Taiwan, South Korea, Middle East & Africa, Others)

On Special Request we do offer a dedicated and focus report on regional or by country level scope.

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Some Strategic Points Covered in Table of Content of Global Cheap Insurance Market:

Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the Cheap Insurance market

Chapter 2: Exclusive Summary – the basic information of the Cheap Insurance Market.

Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges of the Cheap Insurance

Chapter 4: Presenting the Cheap Insurance Market Factor Analysis Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.

Chapter 5-7: Displaying the by Type, End User and Region 2014-2019. Evaluating the leading manufacturers of the Cheap Insurance market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile. Market Estimates by segments, by countries and by manufacturers with revenue share and sales by key countries in these various countries (2020-2025).

Chapter 8 & 9: Displaying the Appendix, Methodology and Data Source Finally, Cheap Insurance Market is a valuable source of guidance for individuals and companies.

How Research Study of AMA helps clients in their decision making:

  • Creating strategies for new product development
  • Supporting & Adjust Investment/business decisions
  • Benchmark and judge own competitiveness
  • Aiding in the business planning process
  • Serving as a credible, independent check on company internal forecasts
  • Supporting acquisition strategies

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Thanks for reading this article, you can also get individual chapter wise section or region wise report version like North America, Europe or Asia.

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Our Analyst is tracking high growth study with detailed statistical and in-depth analysis of market trends & dynamics that provide a complete overview of the industry. We follow an extensive research methodology coupled with critical insights related industry factors and market forces to generate the best value for our clients. We Provides reliable primary and secondary data sources, our analysts and consultants derive informative and usable data suited for our clients business needs. The research study enable clients to meet varied market objectives a from global footprint expansion to supply chain optimization and from competitor profiling to M&As.

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