About Wellbeing in Insurance
Wellbeing in Insurance covers all mental health conditions, behavioral and developmental problems. Wellbeing refers to them being physically, mentally, and emotionally healthy. This type of insurance offers a variety of emotional, practical, and physical support services for organizations and their dependents, helping make transitions more comfortable and assignments more successful. It provides Employee Assistance Program, Wellness Coaching, Online Seminars, etc. programs in the workplace to help emotional and mental well-being among the individual.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
The global wellbeing in insurance market is fragmented due to the presence of several players at the global and regional levels. The level of competition among the companies in the wellbeing in insurance market is intense. Companies invest in the launch and new technologies to enhance their market presence. 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.
Association of British Insurers (ABI) (United Kingdom), Cigna (United States), RGA Reinsurance Company (United States), Aetna International (United States), Bupa Global (United Kingdom), GeoBlue. (United States), Allianz (Ireland), Star Health Insurance (India) and Aditya Birla Health Insurance Co. Limited. (India) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Wellbeing in Insurance market by Type (Workplace Wellbeing, Individual Wellbeing and Others), Application (Business and Individual) and Region.
On the basis of geography, the market of Wellbeing in Insurance has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, 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 Offering, the sub-segment i.e. Employee Assistance Program will boost the Wellbeing in Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Adoption of Wellbeing in Insurance In Organisation
Market Growth Drivers:
Growing Awareness About Physical And Mental and Rising Demand to Improve Health and Fitness of Employees
Challenges:
Cutthroat Competition in the Wellbeing in Insurance Market
Restraints:
Lack of Knowledge about Wellbeing in Insurance May Restraint the Market Growth
Opportunities:
Increasing Number of Small Businesses In the Developing Countries Creating Opportunities for Wellbeing in Insurance Market
On 30th October 2021, Bupa has launched Benefit Pocket, a new curated health and wellbeing app that is free to download for all Australians, regardless of whether they are Bupa members. The new app offers cashback rewards from more than 30 health and wellbeing partners, including Eco Modern Essentials, 28 by Sam Wood, Part and Parcel, Lovekins, and more.
Key Target Audience
Wellbeing in Insurance Providers, Wellbeing in Insurance Potential Investors, Wellbeing in Insurance Industry Associations, Research and Development Institutes, Regulatory Bodies 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.