About Equestrian Insurance
Equestrian insurance is the insurance policy for the horse industry providing various plans and coverage for the horse industry. It protects against the uncertain expenses which might affect the horses, farms and equestrian professionals, and others associated with it. The equestrian insurance is used by horse farms, horse industry associations, rodeos, equestrian professionals, clubs, and shows associated horse industry.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Kay Cassell Equine Insurance (United States, Allen Financial Insurance Group (United States), Madden Equine Insurance (United States), Wright Group Brokers Ltd (United States), KBIS British Equestrian Insurance, Philip Baker Insurance Services (United States), Equestrian Group (United Kingdom), AXA XL (France), Markel Corporation (United States), American Equine Insurance Group (United States), MS Amlin (United Kingdom) and Henry Equestrian Plan MGA (Canada) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Equestrian Insurance market by Type (Major Medical Insurance, Surgery Insurance, Full Mortality Insurance, Limited Mortality Insurance, Loss of Use Insurance and Personal Liability Insurance), Application (Personal and Commercial) and Region.
On the basis of geography, the market of Equestrian Insurance has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution, the sub-segment i.e. Online will boost the Equestrian Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Equestrian Association will boost the Equestrian Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The popularity of Major Medical Insurance Coverage in Equestrian Insurance
Market Growth Drivers:
Growing Horse Owners Around the World and Need for Insuring the Horse's Health and Expenses Associated with them
Challenges:
Stiff Competition in the Equestrian Insurance Market and Regulatory Guidelines Associated with Equestrian Insurance
Restraints:
High-Cost Investment in the Premium Involved with Equestrian Insurance
Opportunities:
Surging Demand for the Equestrian Insurance Among the Horse Associations and Farms
Market Leaders and their expansionary development strategies
On 5th February 2020, US Equestrian Launches New Guaranteed Insurance Benefits Program for Members. US Equestrian announced this week that it has added new customized health coverage options for your individual and small business needs including short-term medical, accident, critical illness, hospital, short and long-term disability, dental, and vision.
On 13th January 2020, MS Amlin, the London-based re/insurer, announced the launch of David Ashby Underwriting Ltd (DAU), a specialist equine MGA. MS Amlin will serve as lead underwriter for the MGA and provide 50% of capacity for DAU through a joint venture with specialist insurer Hiscox, which provides the other 50% of capacity.
Key Target Audience
Equestrian Insurance Providers, Equestrian Insurance Distributors, Equestrian Insurance Industry Association, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.