Consumer Shift toward Hybrid Offline & Online Purchasing Prompting Insurance Industry Players to Modify their Business Models

Published on : Jan 04, 2019

Albany, New York, January 4, 2019: The insurance industry worldwide is facing turbulent times, with the prevailing environment of low interest rates and challenging equity landscape. Tightening regulatory mandates, such as the rule of US Department of Labor (DOL), and the US tax guidelines are further posing significant impact on the insurance industry.

The shift toward hybrid online & offline research and purchasing among consumers has reached maturity in developed markets. Additionally, this shift continues to witness an accelerated pace in developing markets, given widespread adoption of mobile phones. This paradigm shift, coupled with the impacts of technology advancements and price-comparison websites, have been prompting insurers in modifying their business models.

Aforementioned insights have been extracted from the study titled, “Insurance Global Industry Guide 2013 – 2022,” incorporated recently to Market Research Hub’s all-inclusive repository.

 Emergence of integrated ecosystems for creating new monetization opportunities and risk pools, and adoption of Big Data and Analytics for management of spiraling data and creating value are expected to drive the insurance industry in the near future. However, greater market volatility witnessed recently is expected to influence value propositions offered by leading insurers.

Companies seeking lucrative growth opportunities in the insurance industry are exploring both emerging as well as developed markets. A key challenge being faced by players in the insurance industry is the surge in cost levels, with most carriers investing in technology but unable to realize their investment in automation translate into lower cost.

Insurance Global Market: Report Summary

The main objective of this market research report is to provide a brief analysis on the global insurance market, along with the analysis on key trends, drivers, opportunities, and challenges that affect the market growth. Value of the market has been provided in terms of gross premium income.

The report has provided a detailed discussion on the trends impacting the insurance market. It also delivers a segmental analysis of the insurance market, and includes essential market numbers such as value and volume comparison, and CAGRs of the market segments included in the report.

Furthermore, the report has also provided assessment of the insurance market by dividing it geographically into Asia-Pacific, Europe, France, Germany, Italy, and Japan. A country-level analysis on the insurance market in all these regions has also been offered in the report.

Insurance Global Market: Contents of the Report

The report covers 50 data tables along with various figures to depict the forecast, structure and outlook of the global insurance market. An overview of the insurance market has been provided in the market report, along with category segmentation and five forces analysis. Country specific analysis and data for Spain, United States, Germany, Netherlands, Italy, United Kingdom, Canada, Australia, Japan, and China has been covered in the report.

Moreover, the report provides detailed study of the competition landscape of the insurance market. Details of the key players include key financial metrics and analysis of competitive pressures present in the market.

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