Market Overview:
The global non-life/property & casualty insurance market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for non-life/property & casualty insurance products, especially in developing countries. In addition, the growing awareness about the benefits of these products is also contributing to the market growth. The global non-life/property & casualty insurance market can be segmented on the basis of type, application and region. On the basis of type, it can be divided into work, travel, school and other types. The work segment is expected to account for a major share in terms of revenue in 2018 owing to rising number of accidents at workplaces across different geographies. However, with increasing awareness about safety measures among people and growing adoption of risk management practices by businesses worldwide; this segment is projected witness a decline in its share by 2030 end .On basis if application , OEMs are anticipated hold lion’s share throughout forecast period as they are required procure requisite coverages prior selling vehicles or equipment into specific markets .
Product Definition:
Non-Life/ Property & Casualty Insurance is a type of insurance that protects individuals and businesses against potential financial losses associated with events that are considered to be non-life threatening. This type of insurance is important because it can help protect people and businesses from large financial losses in the event that something unexpected happens.
Work:
Work is an accident or any activity which takes place in the natural environment and causes damage to persons or property. Work includes voluntary activities as well as those caused by physical force, heat, electricity, chemicals or radiation. The policy definition of work also includes events which are beyond human control such as an act of God. In most cases fire and theft are considered to be caused by chance rather than work.
Travel:
Travel and it's usage in non-life/ property & casualty insurance market is the premium paid by an insurer for promising to pay a policyholder or client to cover any losses that might occur during the period of insurance. The amount of travel is based on two factors, namely, type of policy ( inland or foreign ) and coverage ( hull/ machinery , cargo , passengers ).
Application Insights:
The OEMs segment held the largest market share in 2017. This is attributed to the high penetration of non-life/ property & casualty insurance as a service from original equipment manufacturers (OEMs). The aftermarket segment is expected to witness significant growth over the forecast period owing to rising product adoption by end users. Non-life/property & casualty insurance policies are increasingly being adopted by consumers, mainly for personal and household use, as an addition to their existing travel and medical coverages.
The Asia Pacific region is projected to exhibit significant growth over the forecast period on account of increasing investments in infrastructure development across various countries including China, India and Japan.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The growth can be attributed to rising per capita income, improving standard of living and increasing awareness about insurance plans. Asia Pacific accounted for a share of more than 50% in 2017 owing to presence of major non-life/ property & casualty insurance companies such as China Oceanwide Holdings Limited, AIA Group (Japan), Sun Life Financial (Singapore) and Prudential plc (U.K.). Moreover, economic stability in countries such as India and Japan has led them to become preferred destinations for international investors looking for high growth potential with low risk profiles associated with them.
Growth Factors:
- Increasing demand for insurance products owing to the rise in awareness about the benefits of insurance and its importance for risk management.
- Rapid urbanization and growing disposable income, which is resulting in an increase in demand for property & casualty (P&C) insurance products, especially motor vehicle and homeowners' insurance policies.
- The increasing incidence of natural disasters worldwide is also contributing to the growth of the P&C insurance market as insurers are compelled to offer more comprehensive coverage against such risks.
- Stringent regulations by governments across different countries mandating compulsory purchase of specific types of insurance policies are providing a boost to the non-life/P&C segment growth prospects .
Scope Of The Report
Report Attributes
Report Details
Report Title
Non-Life/ Property & Casualty Insurance Market Research Report
By Type
Work, Travel, School, Other
By Application
OEMs, Aftermarket
By Companies
Allian, American International Group, Assicurazion General, Aviva, CGU, China Pacific Property 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
184
Number of Tables & Figures
129
Customization Available
Yes, the report can be customized as per your need.
Global Non-Life/ Property & Casualty Insurance Market Report Segments:
The global Non-Life/ Property & Casualty Insurance market is segmented on the basis of:
Types
Work, Travel, School, Other
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
OEMs, Aftermarket
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:
- Allian
- American International Group
- Assicurazion General
- Aviva
- CGU
- China Pacific Property Insurance
Highlights of The Non-Life/ Property & Casualty 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:
- Work
- Travel
- School
- Other
- By Application:
- OEMs
- Aftermarket
- 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/ Property & Casualty 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?
Non-life/property and casualty insurance is a type of insurance that provides financial protection for people and their belongings in the event of a loss. This type of coverage can help cover costs associated with things like property damage, medical expenses, and lost income. Casualty insurance also covers the costs associated with unexpected injuries or deaths.
Some of the key players operating in the non-life/ property & casualty insurance market are Allian, American International Group, Assicurazion General, Aviva, CGU, China Pacific Property Insurance.
The non-life/ property & casualty insurance market is expected to register a CAGR of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Non-Life/ Property & Casualty 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 Non-Life/ Property & Casualty Insurance Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Non-Life/ Property & Casualty 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 Non-Life/ Property & Casualty 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 Non-Life/ Property & Casualty Insurance Market Size & Forecast, 2020-2028
4.5.1 Non-Life/ Property & Casualty Insurance Market Size and Y-o-Y Growth
4.5.2 Non-Life/ Property & Casualty 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 Work
5.2.2 Travel
5.2.3 School
5.2.4 Other
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 OEMs
6.2.2 Aftermarket
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Non-Life/ Property & Casualty 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 Non-Life/ Property & Casualty 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 Work
9.6.2 Travel
9.6.3 School
9.6.4 Other
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 OEMs
9.10.2 Aftermarket
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 Work
10.6.2 Travel
10.6.3 School
10.6.4 Other
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 OEMs
10.10.2 Aftermarket
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 Work
11.6.2 Travel
11.6.3 School
11.6.4 Other
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 OEMs
11.10.2 Aftermarket
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 Work
12.6.2 Travel
12.6.3 School
12.6.4 Other
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 OEMs
12.10.2 Aftermarket
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 Work
13.6.2 Travel
13.6.3 School
13.6.4 Other
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 OEMs
13.10.2 Aftermarket
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/ Property & Casualty Insurance Market: Competitive Dashboard
14.2 Global Non-Life/ Property & Casualty Insurance Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Allian
14.3.2 American International Group
14.3.3 Assicurazion General
14.3.4 Aviva
14.3.5 CGU
14.3.6 China Pacific Property Insurance
