Industry Background:
Baby insurance is an investment cum insurance plan from life insurance companies, which offers financial safety to childhood dreams and goals including hospitalization due to injury or illness, clinical check-ups, child vaccination, higher education, and marriage. Various insurance plans automatically cover newborns as an extension of the mother’s insurance. Baby Insurance can take care of infants and children's healthcare requirementsThis growth is primarily driven by Various Benefits of Baby Insurance is a Major Growth Driver
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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) |
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 Munich Re (Germany), Zurich Insurance (Switzerland), Nippon Life Insurance (India), Japan Post Holdings (Japan), Allianz (Germany), AXA (France), Generali (Italy), Ping An Insurance (China), China Life Insurance (China) and Prudential PLC (United Kingdom), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 4th May 2021, Allianz has acquired a majority stake in Jubilee General Insurance Company in Kenya. After this acquisition, the company operate as Jubilee Allianz General Insurance Limited. The transaction helps to increase the global presence of Allianz.
On 12th September 2019, Zurich Insurance has launched its new ‘family-friendly’ policies. The new launch helps to enhance maternity, adoption, and paternity leave.Global Baby Insurance is a fragmented market due to the presence of various players. The players are focusing on investing more in Launching New Services. These will enhance their market presence. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Regulatory Insights:
According to the Insurance Regulatory and Development Authority of India, "The periodicity of returns of the insurance should be mentioned in the respective documents.
Influencing Trend:
Rising Peoples Preference towards Beneficial Investments
Market Growth Drivers:
Various Benefits of Baby Insurance is a Major Growth Driver and Growing Population across the Globe
Challenges:
Stringent Regulatory Guidelines on Standardization of Baby Insurance
Restraints:
Baby Insurance Offers Low Rate of Return and It is a Long Term Commitment and Increasing Fraud Activities
Opportunities:
Increasing the Need for Financial Protection for Childs can create Opportunities for the Baby Insurance Market Growth.
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 Baby Insurance Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Baby 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, and SEC filings of Baby 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, Baby Insurance Study Sheds Light on
The Baby Insurance Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Baby Insurance industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Baby Insurance industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, 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.