Market Overview:
The global flood insurance market is expected to grow from USD XX million in 2018 to USD XX million by 2030, at a CAGR of X.X%. The growth of the market can be attributed to the increasing awareness about flood insurance and its benefits, rising number of natural disasters, and growing demand for property insurance. However, the high cost of premiums is expected to restrain the growth of this market during the forecast period. On the basis of type, life insurance accounted for a major share of the global flood insurance market in 2017. This segment is projected to grow at a higher CAGR than non-life insurance during the forecast period. On account of increasing awareness about floods and their potential damage, demand for life flood insurance is expected to increase significantly in developing countries such as India and China overthe next few years.
Product Definition:
Flood insurance is insurance that provides protection against losses caused by flooding. It is a form of property insurance that pays the policyholder for damage to their property caused by flood water. Flooding can happen anywhere, but there is a higher risk of flooding in areas near rivers and other bodies of water.
Life Insurance:
Life insurance is a contract between an insurer and an investor or policyholder, under which the former agreed to pay the latter a sum of money upon the death of the former. The amount paid depends on how much premiums have been paid during their life. In case noone collects, payments are made according to pre-determined terms and conditions stated in the policy.
Non-Life Insurance:
Non-life insurance is a type of insurance which does not give death benefit but other benefits such as income in case of the permanent disability or health coverage in case of illness. It also provides financial protection against risks associated with an event such as critical illness, terminal disease, and long-term care costs.
Application Insights:
The commercial application segment accounted for the largest share of 72.5% in 2017 and is projected to witness significant growth over the forecast period. The growing construction sector, particularly in emerging economies such as India and China, is anticipated to boost the demand for flood insurance policies for commercial buildings.
Floods are one of the most common natural disasters that affect a large number of people across various regions, thus making it important for them to have access to affordable insurance products that can help mitigate financial losses caused by floods or other similar calamities. Thus, rising awareness about benefits offered by these products coupled with increasing incidences of natural disasters such as floods will drive industry growth over the forecast period.
The residential application segment was valued at USD 37 billion in 2017 owing to increasing investments in real estate projects across various developing countries including Brazil, Indonesia.
Regional Analysis:
North America dominated the global market in 2017, with a share of over 40.0%. The growth is attributed to the presence of several insurance companies offering policies for natural disasters and/or flooding. Moreover, these companies are also members of associations that offer products and services related to flood risk management.
The Asia Pacific region is expected to witness significant growth over the forecast period owing to increasing coastallines resulting in an increased probability of floods across various countries including China, India, Japan etc.
Growth Factors:
- Increasing awareness about the benefits of flood insurance: There is a growing awareness among people about the importance of having flood insurance. This is because they understand that it can provide them with financial protection in case their property gets damaged due to a flood.
- Rising number of natural disasters: The number of natural disasters is on the rise, which is resulting in an increase in demand for flood insurance policies.
- Growing popularity of homeowners associations (HOAs): HOAs are becoming increasingly popular and more people are buying homes that are governed by HOAs. This is because HOAs come with certain benefits, such as lower home prices and better community amenities. One such benefit that HOAs offer members is access to affordable flood insurance rates through group discounts from insurers.
Scope Of The Report
Report Attributes
Report Details
Report Title
Flood Insurance Market Research Report
By Type
Life Insurance, Non-Life Insurance, Flood Insuranc
By Application
Commercial, Residential, Other
By Companies
Allianz, Zurich, Allstate, Tokio Marine, Assurant, Chubb, PICC, Sompo Japan Nipponkoa, CPIC, PingAn, Sunshine, Berkshire Hathaway, Suncorp, Progressive, American Strategic, Flood Insuranc
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
246
Number of Tables & Figures
173
Customization Available
Yes, the report can be customized as per your need.
Global Flood Insurance Market Report Segments:
The global Flood Insurance market is segmented on the basis of:
Types
Life Insurance, Non-Life Insurance, Flood Insuranc
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Commercial, Residential, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Allianz
- Zurich
- Allstate
- Tokio Marine
- Assurant
- Chubb
- PICC
- Sompo Japan Nipponkoa
- CPIC
- PingAn
- Sunshine
- Berkshire Hathaway
- Suncorp
- Progressive
- American Strategic
- Flood Insuranc
Highlights of The Flood Insurance Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Life Insurance
- Non-Life Insurance
- Flood Insuranc
- By Application:
- Commercial
- Residential
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Flood Insurance Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Flood insurance is a type of insurance that helps protect homeowners and businesses from damage caused by floods. Flood insurance can help cover the cost of repairs or replacement after a flood event.
Some of the key players operating in the flood insurance market are Allianz, Zurich, Allstate, Tokio Marine, Assurant, Chubb, PICC, Sompo Japan Nipponkoa, CPIC, PingAn, Sunshine, Berkshire Hathaway, Suncorp, Progressive, American Strategic, Flood Insuranc.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Flood Insurance Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Flood Insurance Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Flood Insurance Market - Supply Chain
4.5. Global Flood Insurance Market Forecast
4.5.1. Flood Insurance Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Flood Insurance Market Size (000 Units) and Y-o-Y Growth
4.5.3. Flood Insurance Market Absolute $ Opportunity
5. Global Flood Insurance Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Flood Insurance Market Size and Volume Forecast by Type
5.3.1. Life Insurance
5.3.2. Non-Life Insurance
5.3.3. Flood Insuranc
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Flood Insurance Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Flood Insurance Market Size and Volume Forecast by Application
6.3.1. Commercial
6.3.2. Residential
6.3.3. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Flood Insurance Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Flood Insurance Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Flood Insurance Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Flood Insurance Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Flood Insurance Demand Share Forecast, 2019-2026
9. North America Flood Insurance Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Flood Insurance Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Flood Insurance Market Size and Volume Forecast by Application
9.4.1. Commercial
9.4.2. Residential
9.4.3. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Flood Insurance Market Size and Volume Forecast by Type
9.7.1. Life Insurance
9.7.2. Non-Life Insurance
9.7.3. Flood Insuranc
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Flood Insurance Demand Share Forecast, 2019-2026
10. Latin America Flood Insurance Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Flood Insurance Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Flood Insurance Market Size and Volume Forecast by Application
10.4.1. Commercial
10.4.2. Residential
10.4.3. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Flood Insurance Market Size and Volume Forecast by Type
10.7.1. Life Insurance
10.7.2. Non-Life Insurance
10.7.3. Flood Insuranc
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Flood Insurance Demand Share Forecast, 2019-2026
11. Europe Flood Insurance Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Flood Insurance Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Flood Insurance Market Size and Volume Forecast by Application
11.4.1. Commercial
11.4.2. Residential
11.4.3. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Flood Insurance Market Size and Volume Forecast by Type
11.7.1. Life Insurance
11.7.2. Non-Life Insurance
11.7.3. Flood Insuranc
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. MarketAttractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Flood Insurance Demand Share, 2019-2026
12. Asia Pacific Flood Insurance Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Flood Insurance Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Flood Insurance Market Size and Volume Forecast by Application
12.4.1. Commercial
12.4.2. Residential
12.4.3. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Flood Insurance Market Size and Volume Forecast by Type
12.7.1. Life Insurance
12.7.2. Non-Life Insurance
12.7.3. Flood Insuranc
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Flood Insurance Demand Share, 2019-2026
13. Middle East & Africa Flood Insurance Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Flood Insurance Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Flood Insurance Market Size and Volume Forecast by Application
13.4.1. Commercial
13.4.2. Residential
13.4.3. Other
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Flood Insurance Market Size and Volume Forecast by Type
13.7.1. Life Insurance
13.7.2. Non-Life Insurance
13.7.3. Flood Insuranc
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Flood Insurance Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Flood Insurance Market: Market Share Analysis
14.2. Flood Insurance Distributors and Customers
14.3. Flood Insurance Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Allianz
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Zurich
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Allstate
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Tokio Marine
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Assurant
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Chubb
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. PICC
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Sompo Japan Nipponkoa
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. CPIC
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. PingAn
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Sunshine
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Berkshire Hathaway
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Suncorp
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Progressive
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. American Strategic
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Flood Insuranc
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
