About Sports Insurance
Sports Insurance protects assets with adequate insurance. It is designed to cover professional players, clubs, groups in the sports industry. There are different types of sports insurance and other categories. With the rapid development in the life insurance industry majorly in the Asia Pacific industry. The companies operating in this industry are moving towards digitization.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies operating in these industries are focusing more on efficient growth, improvement of operational efficiency and productivity, achieving high safety standards, and focus on maintaining sustainable development. To meet a high market share, and developing a socially responsible business company is identifying various strategic pillars such as mergers & acquisitions, new product launch, product enhancement, and others. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Sports 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.
Allianz (Germany), Metlife (United States), Aviva (United Kingdom), Allstate (United States), Nationwide (United Kingdom), Sadler & Company (United States), Bajaj Finserv Ltd. (India), Sure Sports (United States), China Life Insurance (China) and China Pacific Life Insurance (China) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Policybazaar (India), Understand Insurance (Australia) and General & Medical Healthcare (England).
Segmentation Overview
AMA Research has segmented the market of Global Sports Insurance market by Type (Sports Disability Insurance, Excess Medical Insurance, Primary and Secondary School Sports Insurance and Other), Application (Professional Sports, Amateur Sports, School Sports and Other) and Region.
On the basis of geography, the market of Sports 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 Sales Channels, the sub-segment i.e. Insurance Agents/Brokers will boost the Sports Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology, the sub-segment i.e. Blockchain will boost the Sports Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rapid Development in Sales Channels with Technology Advancement and High Adoption of Direct Channels to Selling Policies
Market Growth Drivers:
Increase in Injury Rates in Sports Industry, Development in Sports Industry and Development in Economies Along with Increase in Middle-Class Population
Challenges:
Lack of End User Awareness
Restraints:
The Slowdown in Sport Activities Because of Coronavirus Pandemics
Opportunities:
Development in New Accounting Standards and Regulation and Cost Optimization Strategies Driving New Investment in Future
Market Leaders and their expansionary development strategies
In Oct 2018, AXA becomes the Official Global Insurance Partner of Liverpool Football Club
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Sports Insurance Providers, Government Regulatory and Research Organizations and End-Use Industries
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.