Market Overview:
The global insurance advertising market is expected to grow at a CAGR of 7.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for non-health insurance and life insurance products, and the growing use of digital marketing channels such as direct marketing, network marketing, mobile marketing, and other channels. In addition, the increasing population in developing countries is also contributing to the growth of this market. However, factors such as stringent government regulations and lack of awareness about insurance products are restraining the growth of this market.
Product Definition:
Insurance advertising is the marketing of insurance products to consumers. The purpose of insurance advertising is to inform potential policyholders about the benefits of buying coverage, and to encourage them to purchase policies from insurers. Advertising can be used to target specific demographics, such as young adults or seniors, or it can be aimed at a general audience.
Non-health Insurance:
Non-health insurance is the part of life insurance, health & accident insurance, annuity and disability insurance that protects against financial risks arising from sickness or injury at work.
The global non-health Insurance market was valued at USD 1,386.7 billion in 2014.
Life Insurance:
Life insurance is a contract between an insurer and an investor or a group of investors. The main objective of this policy is to provide financial protection to the insured person in case he/she dies without any heirs. The amount paid by the insurer as death benefit depends on the type of policy i.e., term, whole life, universal life, etc., and the coverage amount chosen by the buyer.
Application Insights:
The other application segment includes automotive, banking, financial services and insurance (BFSI), consumer goods & retail, travel & tourism and others. The growth of the BFSI sector is attributed to the increasing penetration of digital channels in this industry. Digital channels such as e-mail marketing, social media marketing have enabled insurers to reach out directly to customers through their preferred communication channel. This has resulted in an increased number of customers opting for BFSI products over other types due to the direct contact with insurers offered by these channels.
Direct Marketing is expected to be one of the prominent applications owing to its wide usage across all industries including life insurance, non-health insurance and others where consumers are likely ot make a purchase but need more information about a product or service before they act upon it or buy it outright.
Regional Analysis:
North America dominated the global arena in 2017, with a market share of over 35%. The region is expected to maintain its position through 2030. This can be attributed to the presence of a large number of insurance companies and high demand for insurance products. Furthermore, growing awareness about different types of policies and their benefits is also one factor that will help North America retain its dominance throughout the forecast period.
Asia Pacific on account rising disposable income has led to an increase in demand for insurance products such as life and health policies among others which are direct marketing or network marketing strategies. Moreover, countries such as China have been witnessing strong economic growth which has resulted into increased investments from various international players looking at lucrative opportunities present in this region along with low regulatory burden associated with these activities in comparison to other developed regions across the globe making it an attractive destination for global players operating within this industry to expand their business footprint thereby driving regional growth over next six years.
Growth Factors:
- Increasing demand for insurance products and services
- Rising awareness about the benefits of insurance among consumers
- Proliferation of digital channels and platforms for advertising insurance products and services
- Growing number of insurers entering the market to capitalize on the increasing demand for insurance products and services
- Emergence of new technologies that can help insurers reach out to a wider audience through innovative advertising campaigns
Scope Of The Report
Report Attributes
Report Details
Report Title
Insurance Advertising Market Research Report
By Type
Non-health Insurance, Life Insurance
By Application
Direct Marketing, Network Marketing, Mobile Marketing, Other
By Companies
UnitedHealth Group, Liberty Mutual, GEICO, Allstate Corporation, Berkshire Hathaway, The Progressive Corporation, MetLife, State Farm Mutual, Nationwide Mutua, Admiral Group, American Family Mutual, Farmers Insurance Group, Hastings Insurance
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
150
Number of Tables & Figures
105
Customization Available
Yes, the report can be customized as per your need.
Global Insurance Advertising Market Report Segments:
The global Insurance Advertising market is segmented on the basis of:
Types
Non-health Insurance, Life Insurance
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
Direct Marketing, Network Marketing, Mobile Marketing, 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:
- UnitedHealth Group
- Liberty Mutual
- GEICO
- Allstate Corporation
- Berkshire Hathaway
- The Progressive Corporation
- MetLife
- State Farm Mutual
- Nationwide Mutua
- Admiral Group
- American Family Mutual
- Farmers Insurance Group
- Hastings Insurance
Highlights of The Insurance Advertising 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:
- Non-health Insurance
- Life Insurance
- By Application:
- Direct Marketing
- Network Marketing
- Mobile Marketing
- 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 Insurance Advertising 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?
Insurance advertising is the use of media to promote and sell insurance products. Ads may feature people in peril, dramatic music, or humor.
Some of the key players operating in the insurance advertising market are UnitedHealth Group, Liberty Mutual, GEICO, Allstate Corporation, Berkshire Hathaway, The Progressive Corporation, MetLife, State Farm Mutual, Nationwide Mutua, Admiral Group, American Family Mutual, Farmers Insurance Group, Hastings Insurance.
The insurance advertising 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 Insurance Advertising 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 Insurance Advertising Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Insurance Advertising 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 Insurance Advertising 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 Insurance Advertising Market Size & Forecast, 2018-2028
4.5.1 Insurance Advertising Market Size and Y-o-Y Growth
4.5.2 Insurance Advertising Market Absolute $ Opportunity
Chapter 5 Global Insurance Advertising 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 Insurance Advertising Market Size Forecast by Type
5.2.1 Non-health Insurance
5.2.2 Life Insurance
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Insurance Advertising 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 Insurance Advertising Market Size Forecast by Applications
6.2.1 Direct Marketing
6.2.2 Network Marketing
6.2.3 Mobile Marketing
6.2.4 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Insurance Advertising 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 Insurance Advertising 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 Insurance Advertising Analysis and Forecast
9.1 Introduction
9.2 North America Insurance Advertising 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 Insurance Advertising Market Size Forecast by Type
9.6.1 Non-health Insurance
9.6.2 Life Insurance
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 Insurance Advertising Market Size Forecast by Applications
9.10.1 Direct Marketing
9.10.2 Network Marketing
9.10.3 Mobile Marketing
9.10.4 Other
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 Insurance Advertising Analysis and Forecast
10.1 Introduction
10.2 Europe Insurance Advertising 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 Insurance Advertising Market Size Forecast by Type
10.6.1 Non-health Insurance
10.6.2 Life Insurance
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 Insurance Advertising Market Size Forecast by Applications
10.10.1 Direct Marketing
10.10.2 Network Marketing
10.10.3 Mobile Marketing
10.10.4 Other
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 Insurance Advertising Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Insurance Advertising 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 Insurance Advertising Market Size Forecast by Type
11.6.1 Non-health Insurance
11.6.2 Life Insurance
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 Insurance Advertising Market Size Forecast by Applications
11.10.1 Direct Marketing
11.10.2 Network Marketing
11.10.3 Mobile Marketing
11.10.4 Other
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 Insurance Advertising Analysis and Forecast
12.1 Introduction
12.2 Latin America Insurance Advertising 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 Insurance Advertising Market Size Forecast by Type
12.6.1 Non-health Insurance
12.6.2 Life Insurance
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 Insurance Advertising Market Size Forecast by Applications
12.10.1 Direct Marketing
12.10.2 Network Marketing
12.10.3 Mobile Marketing
12.10.4 Other
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) Insurance Advertising Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Insurance Advertising 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) Insurance Advertising Market Size Forecast by Type
13.6.1 Non-health Insurance
13.6.2 Life Insurance
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) Insurance Advertising Market Size Forecast by Applications
13.10.1 Direct Marketing
13.10.2 Network Marketing
13.10.3 Mobile Marketing
13.10.4 Other
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 Insurance Advertising Market: Competitive Dashboard
14.2 Global Insurance Advertising Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 UnitedHealth Group
14.3.2 Liberty Mutual
14.3.3 GEICO
14.3.4 Allstate Corporation
14.3.5 Berkshire Hathaway
14.3.6 The Progressive Corporation
14.3.7 MetLife
14.3.8 State Farm Mutual
14.3.9 Nationwide Mutua
14.3.10 Admiral Group
14.3.11 American Family Mutual
14.3.12 Farmers Insurance Group
14.3.13 Hastings Insurance
