What is Personal Lines Insurance Market Scope?
The term personal lines insurance refers to any kind of insurance, which covers individuals against loss that results from injury, death, or loss of property. These insurance lines generally protect people and their families from losses they couldn’t afford to cover on their own. Personal insurance lines make it possible to do things such as driving a car and owning a home without risking financial ruin. The rising incidences of natural disasters such as flood, tornado, & earthquake is the key driver fueling the growth of the market.
Influencing Trend:
The Rising Popularity of Online Distribution Channel
Market Growth Drivers:
The Growing Event of Unforeseeable Accidents, The Rising Incidences of Natural Disasters such as Flood, Tornado, & Earthquake and Upusurging Adoption of Personal Lines Insurance to Secure Financial Losses
Restraints:
Current COVID-19 Pandemic is expected to Hamper the Growth
The Personal Lines Insurance market study is being classified by Type (Homeowners Insurance, Flood Insurance, Earthquake Insurance, Renters Insurance, Automobile Insurance, Life Insurance, Disability Insurance, Umbrella Insurance and Health Insurance), by Application and major geographies with country level break-up.
The US personal lines insurance market is highly competitive due to the presence of multiple leading vendors. These players are adopting some organic and inorganic strategies such as a merger, acquisition, partnership, among others in other to gain a competitive advantage. Analysts at AMA predicts that Players from United States will contribute to the maximum growth of United States Personal Lines Insurance market throughout the predicted period.
State Farm (United States), Liberty Mutual Insurance (United States), Allstate Corp. (United States), Berkshire Hathaway Inc. (United States), Travelers Companies Inc. (United States), Farmers Insurance Group of Companies (United States), Nationwide Mutual Group (United States), American International Group (United States), Progressive Corp. (United States) and USAA Insurance Group (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Chubb (United States), American Intl Group (AIG) (United States), Hartford Group (United States), Swiss Reinsurance Group (Switzerland) and Zurich Insurance (Switzerland).
Segmentation Analysis
Analyst at AMA have segmented the market study of United States Personal Lines Insurance market by Type, Application and Region.
On the basis of geography, the market of Personal Lines 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).
Key Target Audience
Personal Lines Insurance Companies, Regulatory & Government Bodies, Potential Investors, End Users and Others
Personal Lines Insurance Market Study: Important Years
Attributes | Details |
---|
Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (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 |
Major Highlights of Market Study
Demand Determinants: Identifying top-notch application and business segments that seek high growth potentials in Personal Lines Insurance Market.
Key Strategic Developments: To target untapped regions more aggressively by focusing on product/service developments, innovation and R & D, new launches, Merger & acquisitions, JVs & partnerships.
Forces & Market Dynamics: Growth drivers, restraints & opportunities available in Personal Lines Insurance industry is examined with reference relevant market sectors and sub-sectors.
Customization available in this Study:
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research features not just specific market sizing estimates, but also includes significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets, To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.