Industry Background:
Short term insurance policy covers various types of matters like a job change, health, car, death coverage, and various other things. The short-term insurance plans are typically for the period of 30 to 90 days and have a valid up to 12 months and provide protection for a limited period. This insurance is not costly as it is for the short term and requires a lesser premium amount than the long term insurance plans. It can be used by a group of people or any individual, although short term plan also varies according to the tenure.This growth is primarily driven by Increasing Demand for Low Premium Rates Insurance Plans and Growing Number of Diseases Over the Last Few Year Requires Health Insurance Plans to Cover the Expenses.
Attributes | Details |
---|
Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Million) |
Key Companies in Study | UnitedHealth Group (United States), OUTsurance Holdings Limited (South Africa), National General Insurance (United States), The IHC Group (United States), Aviva plc (United Kingdom), PSG Konsult Limited Group (South Africa), SBI Holdings (Japan), Pivot Health (United States), Lidwala Insurance (United Kingdom) and Liberty Mutual Group (United States) |
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 |
Globally, a noticeable market trend is evident Increasing Consumption of Short Term Health Insurance
. Major Players, such as UnitedHealth Group (United States), OUTsurance Holdings Limited (South Africa), National General Insurance (United States), The IHC Group (United States), Aviva plc (United Kingdom), PSG Konsult Limited Group (South Africa), SBI Holdings (Japan), Pivot Health (United States), Lidwala Insurance (United Kingdom) and Liberty Mutual Group (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
On 9th July 2020, Pivot Health, the insuretech coverage division of HealthCare.com, a leader in technology-enabled health insurance solutions, announced it has partnered with The North River Insurance Company, a subsidiary of the Crum & Forster enterprise, to market group short-term health insurance plans that offer financial protections and benefits for consumers.
Market Drivers
- Increasing Demand for Low Premium Rates Insurance Plans
- Growing Number of Diseases Over the Last Few Year Requires Health Insurance Plans to Cover the Expenses
Market Trend
- Increasing Consumption of Short Term Health Insurance
- Integration of Telematics and AI in the Short Term Insurance
Restraints
- Adherence to Stringent Regulatory Guidelines on the Short Term Insurance
Opportunities
Rising Technological Advancement in the Short Term Insurance
Challenges
A large number of Short Term Insurance Providing Companies
AMA Research follow 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 mostly 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 showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include 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, Short Term Insurance Study Sheds Light on
The Short Term Insurance Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Short Term Insurance industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Short Term 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 value they currently claim, or capture the new addressable opportunity.