Market Overview:
The global non-life insurance service market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The market growth is attributed to the increasing demand for non-life insurance services across the globe. Non-life insurance services are used to protect individuals and businesses against financial losses arising from events such as natural disasters, accidents, and theft. The global non-life insurance service market can be segmented on the basis of type, application, and region. On the basis of type, the market can be divided into homeowner’s insurance, commercial property insurance, natural disaster insurance, and others. Commercial property Insurance is expected to account for a major share of the global non-life Insurance service Market in 2018 owing to rising instances of commercial property damage across different geographies.
Product Definition:
Non-life insurance service is a type of insurance that provides coverage for property damage, personal injury, and other losses that are not associated with life. Non-life insurance policies are typically less expensive than life insurance policies, and they can provide important protection in the event of a loss.
Homeowner’s Insurance:
Homeowners insurance is a type of non-life insurance service that provides protection against losses due to fire, theft, and other hazards. Homeowners policies are designed to help protect residential property and assets from damage or loss caused by covered causes such as lightning, windstorm, smoke detectors going off due to fire/smoke, vandalism or theft. The coverage provided under homeowners policies varies according to state regulations in the U.S.
Commercial Property Insurance:
Commercial property insurance is a form of non-life insurance service that provides protection and coverage for various commercial properties against risks such as fire, explosion, theft, etc. It also covers the building contents (fixtures) against risks such as damage by water or fire. Commercial property policies are generally written with an emphasis on broadening the policyholder's rights and duties rather than focusing on narrow exclusions.
Application Insights:
The others application segment includes pet insurance, disability insurance and unemployment insurance. The growth of the non-life assurance services market is expected to be driven by the increasing demand for bancassurance services. Bancassurance is a financial service offered by banks that offers life insurers an opportunity to tap into the growing retail deposits market through its branches. As per Association of British Insurers (ABI), in 2017, around 70% of U.K.-based life insurers were members of at least one network and 40% were active participants in more than five networks simultaneously.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The growth can be attributed to increasing per capita income, rising household investments, and a growing middle-class population. According to the Asian Development Bank Institute (ADBI), Asia Pacific households had a per capita disposable income of USD X thousand in 2016 and this number is projected to reach USD X by 2020 at an estimated growth rate of 10% from 2016 to 2020.
Europe accounted for over 25% share of global revenue in 2017 owing high importance given by consumers towards financial security.
Growth Factors:
- Increasing demand for insurance services from the middle-class population in developing countries.
- Rapid growth of the e-commerce sector, which is expected to drive demand for online insurance products and services.
- Rising awareness about the benefits of insurance among consumers, especially in developing countries.
- Proliferation of new technologies that are helping insurers to develop innovative products and services offerings.
Scope Of The Report
Report Attributes
Report Details
Report Title
Non-Life Insurance Service Market Research Report
By Type
Homeowner’s Insurance, Commercial Property Insurance, Natural Disaster Insurance, Others
By Application
Insurance Brokers, Bancassurance, Others
By Companies
Berkshire Hathaway, Allianz, Munich Re Group, AIG, State Farm Insurance Cos., Zurich Insurance Group, MS&AD Insurance Group Holdings, Tokio Marine Holdings, People's Insurance Co. of China, NKSJ Holdings
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
204
Number of Tables & Figures
143
Customization Available
Yes, the report can be customized as per your need.
Global Non-Life Insurance Service Market Report Segments:
The global Non-Life Insurance Service market is segmented on the basis of:
Types
Homeowner’s Insurance, Commercial Property Insurance, Natural Disaster Insurance, 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
Insurance Brokers, Bancassurance, Others
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:
- Berkshire Hathaway
- Allianz
- Munich Re Group
- AIG
- State Farm Insurance Cos.
- Zurich Insurance Group
- MS&AD Insurance Group Holdings
- Tokio Marine Holdings
- People's Insurance Co. of China
- NKSJ Holdings
Highlights of The Non-Life Insurance Service 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:
- Homeowner’s Insurance
- Commercial Property Insurance
- Natural Disaster Insurance
- Others
- By Application:
- Insurance Brokers
- Bancassurance
- Others
- 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 Non-Life Insurance Service 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?
Non-life insurance service is a type of insurance that provides financial protection in the event of an unexpected death. This type of coverage can provide benefits such as funeral expenses, burial costs, and income replacement for the deceased's family.
Some of the key players operating in the non-life insurance service market are Berkshire Hathaway, Allianz, Munich Re Group, AIG, State Farm Insurance Cos., Zurich Insurance Group, MS&AD Insurance Group Holdings, Tokio Marine Holdings, People's Insurance Co. of China, NKSJ Holdings.
The non-life insurance service market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Non-Life Insurance Service 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 Non-Life Insurance Service Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Non-Life Insurance Service 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 Non-Life Insurance Service 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 Non-Life Insurance Service Market Size & Forecast, 2018-2028
4.5.1 Non-Life Insurance Service Market Size and Y-o-Y Growth
4.5.2 Non-Life Insurance Service Market Absolute $ Opportunity
Chapter 5 Global Non-Life Insurance Service 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 Non-Life Insurance Service Market Size Forecast by Type
5.2.1 Homeowner’s Insurance
5.2.2 Commercial Property Insurance
5.2.3 Natural Disaster Insurance
5.2.4 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Non-Life Insurance Service 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 Non-Life Insurance Service Market Size Forecast by Applications
6.2.1 Insurance Brokers
6.2.2 Bancassurance
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Non-Life Insurance Service 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 Non-Life Insurance Service 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 Non-Life Insurance Service Analysis and Forecast
9.1 Introduction
9.2 North America Non-Life Insurance Service 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 Non-Life Insurance Service Market Size Forecast by Type
9.6.1 Homeowner’s Insurance
9.6.2 Commercial Property Insurance
9.6.3 Natural Disaster Insurance
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 Non-Life Insurance Service Market Size Forecast by Applications
9.10.1 Insurance Brokers
9.10.2 Bancassurance
9.10.3 Others
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 Non-Life Insurance Service Analysis and Forecast
10.1 Introduction
10.2 Europe Non-Life Insurance Service 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 Non-Life Insurance Service Market Size Forecast by Type
10.6.1 Homeowner’s Insurance
10.6.2 Commercial Property Insurance
10.6.3 Natural Disaster Insurance
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 Non-Life Insurance Service Market Size Forecast by Applications
10.10.1 Insurance Brokers
10.10.2 Bancassurance
10.10.3 Others
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 Non-Life Insurance Service Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Non-Life Insurance Service 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 Non-Life Insurance Service Market Size Forecast by Type
11.6.1 Homeowner’s Insurance
11.6.2 Commercial Property Insurance
11.6.3 Natural Disaster Insurance
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 Non-Life Insurance Service Market Size Forecast by Applications
11.10.1 Insurance Brokers
11.10.2 Bancassurance
11.10.3 Others
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 Non-Life Insurance Service Analysis and Forecast
12.1 Introduction
12.2 Latin America Non-Life Insurance Service 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 Non-Life Insurance Service Market Size Forecast by Type
12.6.1 Homeowner’s Insurance
12.6.2 Commercial Property Insurance
12.6.3 Natural Disaster Insurance
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 Non-Life Insurance Service Market Size Forecast by Applications
12.10.1 Insurance Brokers
12.10.2 Bancassurance
12.10.3 Others
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) Non-Life Insurance Service Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Non-Life Insurance Service 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) Non-Life Insurance Service Market Size Forecast by Type
13.6.1 Homeowner’s Insurance
13.6.2 Commercial Property Insurance
13.6.3 Natural Disaster Insurance
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) Non-Life Insurance Service Market Size Forecast by Applications
13.10.1 Insurance Brokers
13.10.2 Bancassurance
13.10.3 Others
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 Non-Life Insurance Service Market: Competitive Dashboard
14.2 Global Non-Life Insurance Service Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Berkshire Hathaway
14.3.2 Allianz
14.3.3 Munich Re Group
14.3.4 AIG
14.3.5 State Farm Insurance Cos.
14.3.6 Zurich Insurance Group
14.3.7 MS&AD Insurance Group Holdings
14.3.8 Tokio Marine Holdings
14.3.9 People's Insurance Co. of China
14.3.10 NKSJ Holdings
