The global SME insurance market is expected to grow at a CAGR of 6.2% during the forecast period, from 2021 to 2030. The growth in this market is attributed to the increasing demand for SME insurance products and services from small and medium-sized enterprises (SMEs) across the globe. The increasing number of SMEs in emerging economies such as India, China, Brazil, and Mexico has led to an increase in demand for these products and services.
The global SME insurance market by type includes property insurance, public liability insurance, business interruption insurance, workers compensation insurance, goods in transit insurance. Property Insurance segment accounted for the largest share of the global SME Insurance Market with a share of 39%. This can be attributed to its wide range of coverage options that are available for businesses such as buildings or machinery which are prone to damage or theft. Public Liability Insurance segment accounted for 27% share due to its wide range of coverage options that are available for businesses such as accidents caused by employees or contractors which may result in lawsuits against them. Business Interruption Insurance segment accounted for 18% share due to its wide range of coverage options that are available for businesses such as loss incurred due to natural disasters which may result in temporary closure or permanent closure leading up losses incurred on revenue generation activities like production and sales activities etc, Workers Compensation Insurance segment accounted 12% share due its wide range of coverage options that are available for businesses such as injuries sustained by employees while performing their duties which may lead up medical expenses etc, Goods In Transit Insurance segment accounted 8% share due its wide range of coverage options that are available for businesses like theft during transportation process leading up losses incurred on revenue generation activities like production and sales activities etc,.
Some Of The Growth Factors Of This Market:
- The SME Insurance market is expected to reach $3,890 million by 2022.
- There are many factors that can affect the growth of the SME Insurance market such as economic conditions and government regulations.
- One factor that can affect the growth of the SME Insurance market is an increase in cyber attacks.
Industry Growth Insights published a new data on “SME Insurance Market”. The research report is titled “SME Insurance Market research by Types (Property Insurance, Public Liability Insurance, Business Interruption Insurance, Workers Compensation Insurance, Goods in Transit Insurance), By Applications (Bancassurance, Digital & Direct Channels, Brokers, Agency), By Players/Companies AIA, AIG, AXA, Tokio Marine, Sompo, Allianz, CPIC, Samsung Life Insurance, PingAn, Chubb, Great Eastern, China Life, PICC, Muang Thai, Hong Leong”.
Scope Of The Report
Report Attributes
Report Details
Report Title
SME Insurance Market Research Report
By Type
Property Insurance, Public Liability Insurance, Business Interruption Insurance, Workers Compensation Insurance, Goods in Transit Insurance
By Application
Bancassurance, Digital & Direct Channels, Brokers, Agency
By Companies
AIA, AIG, AXA, Tokio Marine, Sompo, Allianz, CPIC, Samsung Life Insurance, PingAn, Chubb, Great Eastern, China Life, PICC, Muang Thai, Hong Leong
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
243
Number of Tables & Figures
171
Customization Available
Yes, the report can be customized as per your need.
Global SME Insurance Market Report Segments:
The global SME Insurance market is segmented on the basis of:
Types
Property Insurance, Public Liability Insurance, Business Interruption Insurance, Workers Compensation Insurance, Goods in Transit 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
Bancassurance, Digital & Direct Channels, Brokers, Agency
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:
- AIA
- AIG
- AXA
- Tokio Marine
- Sompo
- Allianz
- CPIC
- Samsung Life Insurance
- PingAn
- Chubb
- Great Eastern
- China Life
- PICC
- Muang Thai
- Hong Leong
Highlights of The SME 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:
- Property Insurance
- Public Liability Insurance
- Business Interruption Insurance
- Workers Compensation Insurance
- Goods in Transit Insurance
- By Application:
- Bancassurance
- Digital & Direct Channels
- Brokers
- Agency
- 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 SME 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?
Small business insurance is a type of insurance that helps protect businesses from financial losses due to accidents, natural disasters, or other unforeseen events. It can provide coverage for both personal and property damage, as well as business interruption.
Some of the key players operating in the sme insurance market are AIA, AIG, AXA, Tokio Marine, Sompo, Allianz, CPIC, Samsung Life Insurance, PingAn, Chubb, Great Eastern, China Life, PICC, Muang Thai, Hong Leong.
The sme insurance market is expected to grow at a compound annual growth rate of 6.2%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. SME 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. SME Insurance Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. SME Insurance Market - Supply Chain
4.5. Global SME Insurance Market Forecast
4.5.1. SME Insurance Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. SME Insurance Market Size (000 Units) and Y-o-Y Growth
4.5.3. SME Insurance Market Absolute $ Opportunity
5. Global SME 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. SME Insurance Market Size and Volume Forecast by Type
5.3.1. Property Insurance
5.3.2. Public Liability Insurance
5.3.3. Business Interruption Insurance
5.3.4. Workers Compensation Insurance
5.3.5. Goods in Transit Insurance
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global SME 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. SME Insurance Market Size and Volume Forecast by Application
6.3.1. Bancassurance
6.3.2. Digital & Direct Channels
6.3.3. Brokers
6.3.4. Agency
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global SME 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. SME 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 SME 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. SME 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 SME Insurance Demand Share Forecast, 2019-2029
9. North America SME 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 SME 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 SME Insurance Market Size and Volume Forecast by Application
9.4.1. Bancassurance
9.4.2. Digital & Direct Channels
9.4.3. Brokers
9.4.4. Agency
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America SME Insurance Market Size and Volume Forecast by Type
9.7.1. Property Insurance
9.7.2. Public Liability Insurance
9.7.3. Business Interruption Insurance
9.7.4. Workers Compensation Insurance
9.7.5. Goods in Transit Insurance
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 SME Insurance Demand Share Forecast, 2019-2029
10. Latin America SME 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 SME 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 SME Insurance Market Size and Volume Forecast by Application
10.4.1. Bancassurance
10.4.2. Digital & Direct Channels
10.4.3. Brokers
10.4.4. Agency
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America SME Insurance Market Size and Volume Forecast by Type
10.7.1. Property Insurance
10.7.2. Public Liability Insurance
10.7.3. Business Interruption Insurance
10.7.4. Workers Compensation Insurance
10.7.5. Goods in Transit Insurance
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 SME Insurance Demand Share Forecast, 2019-2029
11. Europe SME 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 SME 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 SME Insurance Market Size and Volume Forecast by Application
11.4.1. Bancassurance
11.4.2. Digital & Direct Channels
11.4.3. Brokers
11.4.4. Agency
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe SME Insurance Market Size and Volume Forecast by Type
11.7.1. Property Insurance
11.7.2. Public Liability Insurance
11.7.3. Business Interruption Insurance
11.7.4. Workers Compensation Insuranc
11.7.5. Goods in Transit Insurance
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/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 SME Insurance Demand Share, 2019-2029
12. Asia Pacific SME 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 SME 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 SME Insurance Market Size and Volume Forecast by Application
12.4.1. Bancassurance
12.4.2. Digital & Direct Channels
12.4.3. Brokers
12.4.4. Agency
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific SME Insurance Market Size and Volume Forecast by Type
12.7.1. Property Insurance
12.7.2. Public Liability Insurance
12.7.3. Business Interruption Insurance
12.7.4. Workers Compensation Insurance
12.7.5. Goods in Transit Insurance
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 SME Insurance Demand Share, 2019-2029
13. Middle East & Africa SME 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 SME 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 SME Insurance Market Size and Volume Forecast by Application
13.4.1. Bancassurance
13.4.2. Digital & Direct Channels
13.4.3. Brokers
13.4.4. Agency
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa SME Insurance Market Size and Volume Forecast by Type
13.7.1. Property Insurance
13.7.2. Public Liability Insurance
13.7.3. Business Interruption Insurance
13.7.4. Workers Compensation Insurance
13.7.5. Goods in Transit Insurance
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 SME Insurance Demand Share, 2019-2029
14. Competition Landscape
14.1. Global SME Insurance Market: Market Share Analysis
14.2. SME Insurance Distributors and Customers
14.3. SME Insurance Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. AIA
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. AIG
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. AXA
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. Sompo
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Allianz
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. CPIC
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Samsung Life Insurance
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. PingAn
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Chubb
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Great Eastern
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. China Life
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. PICC
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Muang Thai
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Hong Leong
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
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
