Market Overview:
The global accident insurance market is expected to grow at a CAGR of 7.5% from 2018 to 2030. The market growth is attributed to the increasing incidence of accidents, rising awareness about the benefits of accident insurance, and growing demand for customized accident insurance products. The personal injury claims segment is expected to account for the largest share of the global accident insurance market in 2018. This segment is driven by the increasing number of road traffic accidents and work accidents across the world. The Asia Pacific region is expected to be the fastest-growing region in terms of CAGR during the forecast period.
Product Definition:
Accident insurance is a type of insurance that covers the costs associated with accidental injuries. This can include medical expenses, rehabilitation costs, and lost income. Accident insurance is important because it can help protect individuals from financially devastating accidents.
Personal Injury Claims:
Personal injury claims, also called accident insurance or no-fault insurance, are a type of insurance that helps pay medical expenses and lost wages if an individual is injured in an accident. In most U.S. states, the law requires automobile insurers to provide personal injury protection (PIP) coverage to drivers who have purchased liability auto insurance.
Road Traffic Accidents:
Road traffic accidents (RTAs) are the leading cause of death among children and young adults in developed countries. According to the World Health Organization (WHO), RTAs account for more than 30% of all deaths occurring due to road traffic crashes. The WHO has also reported that in developing countries, such as India, over 50% of road crash fatalities occur due to RTAs.
Application Insights:
The personal application segment held the largest share of over 60.0% in 2017. The growth can be attributed to the rising number of motor vehicle drivers and passengers across the globe. According to WHO, it is estimated that around 1 billion people worldwide drive cars daily, which accounts for nearly 2/3rds of global road traffic. Increasing road connectivity and construction of new roads are expected to boost passenger car sales globally over the forecast period, thereby driving demand for GACI policies worldwide during this period.
Enterprise application is projected to witness significant growth at a CAGR exceeding 8% from 2018 to 2030 owing to increasing investments by companies in order with their employees on overseas business trips or domestic travels as well as at home or abroad based on company needs and requirements regarding employee safety while traveling either commercially or recreationally using company vehicles etc.
Regional Analysis:
Europe dominated the global market in 2017, with a share of over 35.0% owing to the high rate of industrial accidents and occupational diseases across countries such as Russia, U.K., Germany, Italy among others. The growth is majorly attributed to increasing adoption of safety management systems that include employee accident insurance schemes along with third-party liability cover for business owners/managers under which accidental injuries are covered including medical expenses (hospitalization), rehabilitation services and lost wages up to a maximum limit specified by law or contract.
Growth Factors:
- Increasing awareness about the benefits of accident insurance policies
- Rising number of road accidents and subsequent increase in the demand for accident insurance policies
- Growing popularity of online insurance purchase channels
- Proliferation of private health care services and their increasing affordability
- Implementation of stringent safety norms by governments across countries
Scope Of The Report
Report Attributes
Report Details
Report Title
Accident Insurance Market Research Report
By Type
Personal Injury Claims, Road Traffic Accidents, Work Accidents, Others
By Application
Personal, Enterprise
By Companies
Allianz, Assicurazioni Generali, China Life Insurance, MetLife, PingAn, AXA, Sumitomo Life Insurance, Aegon, Dai-ichi Mutual Life Insurance, CPIC, Aviva, Munich Re Group, Zurich Financial Services, Nippon Life Insurance, Gerber Life Insurance, AIG
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
129
Number of Tables & Figures
91
Customization Available
Yes, the report can be customized as per your need.
Global Accident Insurance Market Report Segments:
The global Accident Insurance market is segmented on the basis of:
Types
Personal Injury Claims, Road Traffic Accidents, Work Accidents, Others
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
Personal, Enterprise
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
- Assicurazioni Generali
- China Life Insurance
- MetLife
- PingAn
- AXA
- Sumitomo Life Insurance
- Aegon
- Dai-ichi Mutual Life Insurance
- CPIC
- Aviva
- Munich Re Group
- Zurich Financial Services
- Nippon Life Insurance
- Gerber Life Insurance
- AIG
Highlights of The Accident 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:
- Personal Injury Claims
- Road Traffic Accidents
- Work Accidents
- Others
- By Application:
- Personal
- Enterprise
- 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 Accident 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?
Accident insurance is a type of insurance that helps cover the costs associated with accidents, including medical expenses, lost wages, and property damage.
Some of the key players operating in the accident insurance market are Allianz, Assicurazioni Generali, China Life Insurance, MetLife, PingAn, AXA, Sumitomo Life Insurance, Aegon, Dai-ichi Mutual Life Insurance, CPIC, Aviva, Munich Re Group, Zurich Financial Services, Nippon Life Insurance, Gerber Life Insurance, AIG.
The accident insurance market is expected to register a CAGR of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Accident Insurance Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Accident Insurance Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Accident Insurance Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Accident Insurance Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Accident Insurance Market Size & Forecast, 2020-2028
4.5.1 Accident Insurance Market Size and Y-o-Y Growth
4.5.2 Accident Insurance Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Personal Injury Claims
5.2.2 Road Traffic Accidents
5.2.3 Work Accidents
5.2.4 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Personal
6.2.2 Enterprise
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Accident Insurance Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Accident Insurance Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Personal Injury Claims
9.6.2 Road Traffic Accidents
9.6.3 Work Accidents
9.6.4 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Personal
9.10.2 Enterprise
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Personal Injury Claims
10.6.2 Road Traffic Accidents
10.6.3 Work Accidents
10.6.4 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Personal
10.10.2 Enterprise
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Personal Injury Claims
11.6.2 Road Traffic Accidents
11.6.3 Work Accidents
11.6.4 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Personal
11.10.2 Enterprise
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Personal Injury Claims
12.6.2 Road Traffic Accidents
12.6.3 Work Accidents
12.6.4 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Personal
12.10.2 Enterprise
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size 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 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Personal Injury Claims
13.6.2 Road Traffic Accidents
13.6.3 Work Accidents
13.6.4 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Personal
13.10.2 Enterprise
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Accident Insurance Market: Competitive Dashboard
14.2 Global Accident Insurance Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Allianz
14.3.2 Assicurazioni Generali
14.3.3 China Life Insurance
14.3.4 MetLife
14.3.5 PingAn
14.3.6 AXA
14.3.7 Sumitomo Life Insurance
14.3.8 Aegon
14.3.9 Dai-ichi Mutual Life Insurance
14.3.10 CPIC
14.3.11 Aviva
14.3.12 Munich Re Group
14.3.13 Zurich Financial Services
14.3.14 Nippon Life Insurance
14.3.15 Gerber Life Insurance
14.3.16 AIG
