Term Life Insurance Global Market Opportunities And Strategies To 2030 report from the publisher provides the strategists, marketers and senior management with the critical information they need to assess the global term life insurance market.
Reasons to Purchase
Description:
Where is the largest and fastest growing market for the term life insurance market? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The global term life insurance market opportunities and strategies to 2030 report from the publisher answers all these questions and many more.
The report covers the following chapters:
1. Executive Summary – The executive summary section of the report gives a brief overview and summary of the report.
2. Report Structure – This section gives the structure of the report and the information covered in the various sections.
3. Introduction – This section gives the segmentation of the term life insurance market by geography and segmentation by type of insurance and by type of distribution channel covered in this report.
4. Market Characteristics – The market characteristics section of the report defines and explains the term life insurance market. This chapter includes different product/services covered in the report and basic definitions.
5. Trends And Strategies – This chapter describes the major trends shaping the term life insurance market. This section highlights likely future developments in the market and suggests approaches companies can take to exploit these opportunities.
6. Global Market Size And Growth – This section contains the global historic (2015-2019) and forecast (2019-2023, 2025F, 2030F) market values, and drivers and restraints that support and restrain the growth of the market in the historic and forecast periods.
7. Segmentation – This section contains the market values (2015 – 2023, 2025F, 2030F) and analysis for different segments in the market.
8. Regional And Country Analysis – This section contains the historic (2015-2019), forecast (2023, 2025 and 2030) market value and growth and market share comparison by region and countries.
9. Regional Market Size and Growth – This section contains the region’s market size (2019), historic and forecast (2015 – 2023, 2025F, 2030F) market values, and growth and market share comparison of major countries within the region. This report includes information on all the regions (Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa).
10. Competitive Landscape – This section covers details on the competitive landscape of the global term life insurance market, estimated market shares and company profiles of the leading players.
11. Key Mergers And Acquisitions – This chapter gives the information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
12. Conclusions And Recommendations – This section includes conclusions and recommendations based on findings of the research. This section gives information on growth opportunities across countries, segments and strategies to be followed in those markets. It gives an understanding of where there is significant business to be gained by competitors in the next five years.
13. Appendix – This section includes details on the NAICS codes covered, abbreviations, currencies and research inquiries used in this report.
Markets Covered:
By Type Of Insurance: Individual Level Term Life Insurance; Group Level Term Life Insurance; Decreasing Term Life Insurance
By Type Of Distribution Channel: Tied Agents And Branches; Brokers; Bancassurance; Direct And Other Channels
Companies Mentioned: MetLife; Aegon Life Insurance Company; Prudential Financial; Northwestern Mutual; State Farm
Countries: China, India, Japan, Indonesia, South Korea USA, UK, Germany, France, Brazil
Regions: Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Time series: Two five-year periods, one three-year period and one six-year period.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
This product will be delivered within 3-5 business days.
Reasons to Purchase
- Outperform competitors using accurate up to date demand-side dynamics information.
- Identify growth segments for investment.
- Facilitate decision making on the basis of historic and forecast data and the drivers and restraints on the market.
- Create regional and country strategies on the basis of local data and analysis.
- Stay abreast of the latest customer and market research findings
- Benchmark performance against key competitors.
- Develop strategies based on likely future developments.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
- Gain a global perspective on the development of the market.
Description:
Where is the largest and fastest growing market for the term life insurance market? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The global term life insurance market opportunities and strategies to 2030 report from the publisher answers all these questions and many more.
The report covers the following chapters:
1. Executive Summary – The executive summary section of the report gives a brief overview and summary of the report.
2. Report Structure – This section gives the structure of the report and the information covered in the various sections.
3. Introduction – This section gives the segmentation of the term life insurance market by geography and segmentation by type of insurance and by type of distribution channel covered in this report.
4. Market Characteristics – The market characteristics section of the report defines and explains the term life insurance market. This chapter includes different product/services covered in the report and basic definitions.
5. Trends And Strategies – This chapter describes the major trends shaping the term life insurance market. This section highlights likely future developments in the market and suggests approaches companies can take to exploit these opportunities.
6. Global Market Size And Growth – This section contains the global historic (2015-2019) and forecast (2019-2023, 2025F, 2030F) market values, and drivers and restraints that support and restrain the growth of the market in the historic and forecast periods.
7. Segmentation – This section contains the market values (2015 – 2023, 2025F, 2030F) and analysis for different segments in the market.
8. Regional And Country Analysis – This section contains the historic (2015-2019), forecast (2023, 2025 and 2030) market value and growth and market share comparison by region and countries.
9. Regional Market Size and Growth – This section contains the region’s market size (2019), historic and forecast (2015 – 2023, 2025F, 2030F) market values, and growth and market share comparison of major countries within the region. This report includes information on all the regions (Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa).
10. Competitive Landscape – This section covers details on the competitive landscape of the global term life insurance market, estimated market shares and company profiles of the leading players.
11. Key Mergers And Acquisitions – This chapter gives the information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
12. Conclusions And Recommendations – This section includes conclusions and recommendations based on findings of the research. This section gives information on growth opportunities across countries, segments and strategies to be followed in those markets. It gives an understanding of where there is significant business to be gained by competitors in the next five years.
13. Appendix – This section includes details on the NAICS codes covered, abbreviations, currencies and research inquiries used in this report.
Markets Covered:
By Type Of Insurance: Individual Level Term Life Insurance; Group Level Term Life Insurance; Decreasing Term Life Insurance
By Type Of Distribution Channel: Tied Agents And Branches; Brokers; Bancassurance; Direct And Other Channels
Companies Mentioned: MetLife; Aegon Life Insurance Company; Prudential Financial; Northwestern Mutual; State Farm
Countries: China, India, Japan, Indonesia, South Korea USA, UK, Germany, France, Brazil
Regions: Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Time series: Two five-year periods, one three-year period and one six-year period.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
This product will be delivered within 3-5 business days.
Table of Contents
1. Term Life Insurance Market Executive Summary2. Table of Contents3. List of Figures4. List of Tables5. Report Structure
6. Introduction
7. Term Life Insurance Market Characteristics
8. Global Term Life Insurance Market Size And Growth
9. Global Term Life Insurance Market Segmentation
10. Term Life Insurance Market, Regional And Country Analysis
11. Asia-Pacific Term Life Insurance Market
12. Western Europe Term Life Insurance Market
13. Eastern Europe Term Life Insurance Market
14. North America Term Life Insurance Market
15. South America Term Life Insurance Market
16. Middle East Term Life Insurance Market
17. Africa Term Life Insurance Market
18. Global Term Life Insurance Market Competitive Landscape
19. Key Mergers And Acquisitions In The Term Life Insurance Market
20. Term Life Insurance Market Trends And Strategies
21. Term Life Insurance Market Future Outlook and Potential Analysis
22. Term Life Insurance Market, Conclusions And Recommendations
23. Appendix
Executive Summary
This report describes and evaluates the global term life insurance market. It covers two five-year periods, one three-year period and one six-year period including, 2015 to 2019, termed the historic period, and 2019 to 2023 forecast period, 2023-2025 forecast period and 2025 -2030 the forecast period.The global term life insurance market reached a value of nearly $778.8 billion in 2019, having grown at a compound annual growth rate (CAGR) of 6.87% since 2015, and is expected to grow at a CAGR of 9.67% to nearly $1,126.6 billion by 2023. Also, the market is expected to grow to $1,353.0 billion in 2025 at a CAGR of 9.59% and to $2,217.9 billion in 2030 at a CAGR of 10.39%.
Growth in the historic period resulted from economic growth, and government led insurance reforms. Factors that negatively affected growth in the historic period were lack of awareness, and limited coverage of illness death causes mistrust.
Going forward, growth of middle-class group in emerging market, and increase in chronic diseases and disabilities are expected to drive the market. Factor that could hinder the growth of the term life insurance market in the future include non-investment grade.
The term life insurance market is segmented by type of insurance into individual level term life insurance, group level term life insurance, and decreasing term life insurance. The individual level term life insurance market was the largest segment of the term life insurance market, accounting for $600.93 billion or 77.2% of the total market in 2019. The group level term insurance market is expected to be the fastest growing segment going forward at a CAGR of 13.2% during 2019-2023.
The term life insurance market is segmented by type of distribution channel into tied agents and branches, brokers, bancassurance, and direct and other channels. The tied agents and branches was the largest segment of the term life insurance market by distribution channel, accounting for $256.03 billion or 32.9% of the total market in 2019. The bancassurance market is expected to be the fastest-growing segment going forward at a CAGR of 14.1% during 2019-2023.
Asia Pacific was the largest region in the term life insurance market, accounting for 49.4% of the global market in 2019. It was followed by North America and Western Europe, and the other regions. Going forward, the fastest growing regions in the term life insurance market will be Eastern Europe and Asia Pacific, where growth will be at CAGRs of 17.1% and 14.9% respectively from 2019-2023.
The global term life insurance market is highly fragmented with a large number of small players in the market. The top ten competitors of the market made up to 3.30% share of the total market in 2018. Major players in the market include MetLife, Aegon Life Insurance Company, Prudential Financial, Northwestern Mutual, State Farm, and others.
The top growth potential in the term life insurance market by type of insurance will arise in individual level term life insurance market, which will gain $234.38 billion of global annual sales by 2023. The top growth potential in the term life insurance market by type of distribution channel will arise in bancassurance market, which will gain $129.74 billion of global annual sales by 2023. The term life insurance market size will gain the most in China at $214.18 billion. Market-trend-based strategies for the term life insurance market include integrating their processes with advance technologies to automate business processes, using big data analytics solutions to analyze large volume of data, and investing in technologies. Player-adopted strategies in the term life insurance industry include expanding distribution network through joint ventures and partnerships with third parties, and improving customer engagement through strategic acquisitions.
To take advantage of the opportunities, the publisher recommends the term life insurance companies to offer tailored insurance policies, collaborate with tech startups to offer the best term life insurance policies to the clients, use automation and big data technologies to improve operational efficiencies, expand offerings in emerging markets, provide competitively priced offerings and focus on creating advertising content on digital platforms to increase sales, among other strategies.
Companies Mentioned
- ABSA Insurance and Financial Advisers (Pty) Limited
- Aegon Life Insurance Company
- AEGON Sony Life Insurance Co., Ltd.
- Al Alamiya (Saudi Arabia)
- AlfaStrakhovanie Group
- Alliance Insurance (UAE)
- Allianz Life Insurance Japan Ltd.
- AR LIFE
- ASKA Insurance Company
- Aviva
- AXA Life Insurance Co., Ltd.
- Bajaj Allianz Life Insurance
- Bradesco Vida E Previdencia S.A
- Brighthouse Financial (MetLife)
- Buruj Cooperative Insurance (Saudi Arabia)
- China Pacific Insurance (Group) Company Ltd
- CNP Assurances
- Companhia de seguros aliança do brasil
- Crecer Seguros
- Empire Life
- FWD Fuji Life insurance Company, Limited
- Generali Assurances
- Great-West Lifeco, Inc.
- HBOS Financial Services
- HDFC Standard Life Insurance
- IA Financial Group
- ICICI Prudential Life Insurance
- Industrial and General Insurance Plc (IGI)
- Intesa Sanpaolo Vita
- John Hancock
- Kotak Life Insurance
- Life Insurance Corporation of India
- Lincoln National
- Liverpool Victoria
- Manulife Financial
- MAPFRE Argentina
- Mashreq bank (UAE)
- MassMutual
- Medicare Life Insurance Co., Ltd.
- Menora Mivtachim Insurance
- MetLife
- MetLife UAE
- Munich Re Insurance Unit Ergo
- New York Life
- Northwestern Mutual
- Northwestern Mutual
- Ohio National Seguros de Vida
- Ping An Insurance (Group) of China Ltd.
- Poste Vita
- Powszechny Zakład Ubezpieczeń (PZU)
- Prudential Financial
- RBC Insurance
- Rosgosstrakh
- Royal London
- SCOR
- Scottish Widows
- Sogaz Insurance Group
- Standard Life
- State Farm
- Sun Life Financial
- Tokio Marine & Nichido Life Insurance Co., Ltd.
- Transamerica
- UNIQA
- Vitality
- Zurich