Flood Insurance Market Scope
Flood insurance is refer as the specific insurance coverage which is against property loss from flooding. Insurers often refer to the topographical maps which denote lowlands, floodplains and flood-ways that are susceptible to flooding to determine the risk factors for specific properties. Due to the rising threat related to the natural calamities insurance related to the life are been increasing, while there are some threats as well which are associated with the flood insurance, which is due to the trust factor and also there is low awareness about the flood insurance in some of the under developed locations.
According to AMA, the Global Flood Insurance market is expected to see growth rate of 15.6% and may see market size of USD18.9 Billion by 2026.
The market is fragmented by key vendors who are focusing on production technologies, improving efficiency and shelf life. Growth opportunities can be captured by tracking the ongoing process improvement and financial flexibility to invest in optimal strategies Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Flood Insurance market throughout the predicted period.
Allianz (Germany), Zurich Financial Services (Switzerland), Allstate (United States), Tokio Marine (Japan), Assurant (United States), Chubb (United States), PICC (China), Sompo Japan Nipponkoa (Japan), CPIC (China) and PingAn (China) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Berkshire Hathaway (United States), Suncorp (Australia), Progressive (United States) and American Strategic (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Flood Insurance market by Type (Life Insurance and Non-Life Insurance), by Application (Residential, Commercial and Other) and Region with country level break-up.
On the basis of geography, the market of Flood 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).
Market Trend
- Rising inclination towards different capital investment
Market Drivers
- High volume industrialised countries and Global economic growth
Opportunities
- The sector is undergoing extraordinary modernisation
Restraints
- Building trust factor issues
Challenges
- Lack of information towards the under developed location
Key Target Audience
Banks, Financial bodies, Channel partners, Industry association, Downstream vendors, Government and investment communities and Research organisation and associations