Industry Background:
Special crime insurance is designed to protect the assets of an organization. It covers losses arising from the kidnap and holding for the ransom of a corporate employee or from the threat to do a person or to certain property if a ransom is not paid. It protects the assets of the business including merchandise for sale, real property, money, and securities.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Founder Shield (United States), Lockton (United States), SecureNow (India), Great American Insurance Group (United States), Zurich Insurance Group (Switzerland), Fidelity Services (India), Towergate Insurance (United Kingdom) and Crum & Forster (United States) |
This growth is primarily driven by Need to Protect the Business Sector and Financial Losses occurred from Employees or Workers.
Globally, a noticeable market trend is evident Growing Fraud and Crime Activities Major Players, such as Founder Shield (United States), Lockton (United States), SecureNow (India), Great American Insurance Group (United States), Zurich Insurance Group (Switzerland), Fidelity Services (India), Towergate Insurance (United Kingdom) and Crum & Forster (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. Global Special Crime Insurance is a fragmented market due to the presence of various players. The players are focusing on investing more in Launching New Policies. 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.
Key Developments in the Market:
On 4th January 2022, Zurich Insurance Group has acquired Special Insurance Services, Inc. The acquisition expands Zurich’s ability to deliver supplemental health insurance products and services, particularly gap medical, which are increasingly part of employer benefit packages.
On 28th July 2021, Ping an Insurance has launched the first batch of digital RMB insurance policies. The new launch offers discounts for policyholders who purchase the policies with digital RMB wallets. The policy provides protection for medical staff, offers policyholders a digital wallet experience, and offers digital RMB premium settlement.
Regulatory Insights:
As per the Law on Crime Insurance, “The provisions of the Law on Insurance shall apply to the relationships regulated by this Law to the extent that this Law does not provide otherwise.”
Influencing Trend:
Growing Fraud and Crime Activities
Market Growth Drivers:
Need to Protect the Business Sector and Financial Losses occurred from Employees or Workers
Challenges:
Strict Regulatory Guidelines on the Special Crime Insurance Agents
Restraints:
Economic Slowdown over the Globe
Opportunities:
High Adoption of Special Crime Insurance
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 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 showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze 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 includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Special Crime Insurance Market
- Analysis about New Entrants in Special Crime Insurance Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Special Crime Insurance Study Sheds Light on
The Special Crime Insurance Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Special Crime Insurance industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Special Crime 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.