Global Accident Insurance Market Overview:
Accidents can occur anytime, anywhere, and one needs to manage the expenses not covered by major medical insurance. The introduction of accidental insurance provides an added layer of financial protection, which pays for expenses that are major medical insurance that does not cover. Accident Insurance, also known as supplemental accident insurance or personal accident insurance, pays benefits for accidental injuries. Each accident insurance may differ from each other but are majorly divided into categories to better access risk and coverages which include dislocation, laceration, concussion, fracture, eye injury, burn, dental and accident death and dismemberment. Some of the key players profiled in the study are Allianz Se (Germany), AXA (Singapore), Nippon Life Insurance (United States), American Intl. Group (United States), Aviva (United Kingdom), Assicurazioni Generali (Italy), Cardinal Health (United States), State Farm Insurance (United States), Dai-ichi Mutual Life Insurance (Japan), Munich Re Group (Germany), Zurich Financial Services (Switzerland), Prudential Financials (United States), Asahi Mutual Life Insurance (Japan), Sumitomo Life Insurance (Japan), MetLife (United States), Allstate (United States) and Aegon (Netherlands).
On the basis of geography, the market of Accident 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 Services, the sub-segment i.e. Ambulance will boost the Accident Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Time Period, the sub-segment i.e. Life Insurance will boost the Accident 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. Minors will boost the Accident Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Provider, the sub-segment i.e. Private will boost the Accident Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Rise in Number of Accidents around the Globe
- Government Focus on Accident Insurance
Market Trend
- Development of New Offers and Schemes by Insurance Companies
- Innovation in Accident Insurance Products
Restraints
- Stringent Government Rules and Regulations
Opportunities
- High Potential Growth In Emerging Market
- Addition of Attractive Features to the Plans by Insurance Companies
Challenges
- Lack of Awareness among the Customers
- Longer Time for Claim Reimbursement
According to WHI, Every year the lives of approximately 1.35 million people are cut short as a result of a road traffic crash. Between 20 and 50 million more people suffer non-fatal injuries, with many incurring a disability as a result of their injury. The 2030 Agenda for Sustainable Development has set an ambitious target of halving the global number of deaths and injuries from road traffic crashes by 2020.
Target Audience:
Accident Insurance Providers, Government Agencies, Commercial Research & Development Institutions, Government Organizations, Research Organizations, and Consulting Firms, Trade Associations and Industry Bodies and Others
Major Objectives Focused through this Study
To define, describe, and forecast the Global Accident Insurance market on the basis of product [Personal Injury Claims, Road Traffic Accidents, Work Accidents and Other] , application [Personal and Enterprise], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Accident Insurance market with respect to major geographies, namely, 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)
To strategically profile the key players and analyzing their market shares and core competencies in the Accident Insurance industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization:
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are Aetna (United States), CNP Assurances (France) and PingAn Insurance (China).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Accident Insurance market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.