About Niche Insurance
Niche insurance provides policies to those who are affected by changes in lifestyle, environmental changes, and the evolving risks that come along with it. For example, there is a risk to SMEs about cyber security which costs their business huge damage. such type of threats can be overcome by the niche insurance.there are various types of insurance comes under the niche insurance which will boost the market in the future.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Niche Insurance market throughout the forecasted period. 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.
UnitedHealth Group (United States), Liberty Mutual Group (United States), GEICO (United States), Allstate Corporation (United States), Berkshire Hathaway Inc. (United States), The Progressive Corporation (United States), MetLife, Inc. (United States), Nationwide Mutual Insurance Company (United States), Admiral Group plc (United Kingdom) and American Family Insurance (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Hastings Insurance Services Ltd (United Kingdom), PICC Group (China) and Ping An Insurance (China).
Segmentation Overview
AMA Research has segmented the market of Global Niche Insurance market by Type (Company Lottery Insurance, Wedding Insurance, Body Part Insurance, Multiple Birth Insurance, Kidnapping and Ransom Insurance and Alien Abduction Insurance), Application (Personal and Group) and Region.
On the basis of geography, the market of Niche 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 Channel, the sub-segment i.e. Online will boost the Niche Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Development of New Offers and Schemes by Insurance Companies
Market Growth Drivers:
Increasing Cyberthreat and System Failure in SME's and Changing Lifestyle and Habits among Population are Adopted the Niche Insurance
Challenges:
Lack of Awareness among the Customers
Restraints:
Concerns Regarding Fraud Issues
Opportunities:
High Potential Growth In Emerging Market and Rising Incidence of Climate Change and Natural Disasters Demanding the Various Niche Insurance
Key Target Audience
Niche Insurance Providers, Potential Investors, Government and Research Organizations, Market Research and Consulting Firms 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.