Industry Background:
Juvenile Insurance are the Insurance policies which are specifically designed for people under the age of 18 or 17 depending on the country. They are also known to provide wide tax advantaged savings, resulting in them emerging as financial planning tool. There are three major juvenile insurances offered, which include survival insurance, death insurance and the full comprehensive insurance. The Juvenile insurance can be segmented into two major parts based on the age group, that is under 10 and between 10 to 18 age group. Rising Insurance markets penetration and emergence of global pandemic has accelerated the market of the juvenile insurance. Currently, North America and Europe are the two prominent juvenile insurance markets.This growth is primarily driven by Easy and Fast Processing Time compared to Regular Insurance Policies
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Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Volume Unit | N |
Value Unit | USD (Million) |
Key Companies in Study | Allianz (Germany), MetLife (United States), AXA (France), PingAn (China), Assicurazioni Generali S.p.A. (Italy), Dai-ichi Mutual Life Insurance (Japan), Sumitomo Life Insurance (Japan), Aviva Plc (United Kingdom), Munich Re Group (Germany), Gerber Life Insurance (United States), Royal Neighbors of America, Liberty Bankers Life and Foresters Financial (Canada) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Life & Health Insurance sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Allianz (Germany), MetLife (United States), AXA (France), PingAn (China), Assicurazioni Generali S.p.A. (Italy), Dai-ichi Mutual Life Insurance (Japan), Sumitomo Life Insurance (Japan), Aviva Plc (United Kingdom), Munich Re Group (Germany), Gerber Life Insurance (United States), Royal Neighbors of America, Liberty Bankers Life and Foresters Financial (Canada), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Recent Global pandemic has surged the demand for insurance policies among various groups, one of them being for juveniles or children. The juvenile insurance are stable financial tool, which provide financial security against any health uncertainty of juvenile. The increasing penetration of insurance companies, and the rising competition has prompted various companies to offer customer friendly policy options, this has led to the growth of the market. North America along with Europe is the biggest market currently in the field of juvenile insurance.
Juvenile Insurance Market Dynamics:
Attributes | Details |
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Growth Drivers | - Easy and Fast Processing Time compared to Regular Insurance Policies
- Rising Health Uncertainties Due to Increasing Chronic Diseases and Recent Pandemic
- Increasing Penetration of Insurance Companies in Developed and in Certain Developing Countries
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Influencing Trends | - 10-18 Years Segment Accounts for Larger Market Share
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Restraints | - Less Awareness about the Benefits of the Juvenile Insurance
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Road Blocks / Challenges | - Market Penetration in Developing Countries Because of Lack of Awareness about Insurance in Such Countries
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Gaps & Opportunities | - Comprehensive Lifetime Coverage Policies are Gaining Popularity
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AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Juvenile Insurance Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the medium utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Juvenile Insurance Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols:
By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, SEC filings of Juvenile Insurance players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Juvenile Insurance Study Sheds Light on
The Juvenile Insurance Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Juvenile Insurance industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Juvenile Insurance industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.