Life & Health Insurance Market - Trends Forecast Till 2028

Life & Health Insurance Market, By Distribution Channel (Direct Sales, Brokers/Agents, Banks, and Others), Insurance Type (Diseases Insurance and Medical Insurance), Coverage (Preferred Provider Organizations (PPOs), Point of Service (POS), Health Maintenance Organizations (HMOs), and Exclusive Provider Organizations (EPOs)), End User Type (Group and Individuals), and Age Group (Senior Citizens, Adult, and Minors) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)

Published Date: July, 2021

Base Year Estimate: 2020

Report ID: D-IT-LHIM-283

Format:  

Number of Pages: 351

Domain: IT & Telecom

Life & Health Insurance Market – Trends Forecast Till 2028

Global Life & Health Insurance market is anticipated to reach USD 2,400 billion in 2021 growing at a CAGR of 6.9% during the forecasting period, 2021-2028.

Life insurance is a class of insurance which pays a death benefit to the beneficiaries in case of premature deaths. Health insurance in contrast pays for the medical facilities taken up by the person in case of health issues. Life insurance asses the risk of death and provide benefit to the associated family members whereas the health insurance asses the risk of health issues and illness and ensure proper treatment. The most recent collaboration in the sector is between Cerner and New York Life.

Due to the recent outbreak of pandemic along with the increased health care cost are some of the factors that have supported long-term expansion for Life & Health Insurance industry.

Life & Health Insurance Market Report

Global Life & Health Insurance market is segmented into Distribution Channel, Insurance Type, Coverage, End User Type, and Age Group and geography.

Distribution Channel segment is segmented into Direct Sales, Brokers/Agents, Banks, and Others

Insurance Type segment is segmented into Diseases Insurance and Medical Insurance

Coverage segment is segmented into Preferred Provider Organizations (PPOs), Point of Service (POS), Health Maintenance Organizations (HMOs), and Exclusive Provider Organizations (EPOs)

End User Type segment is segmented into Group and Individuals

Age group segment is segmented into Senior Citizens, Adult, and Minors

Geographically, global Life & Health Insurance market is sub segmented into North America, Europe, Asia-Pacific, Middle East and Africa and South America and insights are provided for each region and major countries within the regions

Key players in global Life & Health Insurance market are Companies Profiled Aetna Inc., AIA Group Limited, Allianz, ASSICURAZIONI GENERALI, S.P.A., Aviva, AXA, Cigna, Ping An Insurance (Group), Company of China, Ltd., UnitedHealth Group, Zurich  among others.

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Research Methodology

Secondary Research

This research method involved the usage of extensive secondary sources (such as directories and databases)—Hoovers, Avention, annual reports, investor presentation, conference like Jefferies conference)—to identify and collect information useful for this study of the Life & Health Insurance market. The purpose of secondary research was to identify and collection of extensive, technical, market-oriented, and commercial study the global Life & Health Insurance market. Through secondary the market is classified and segmented as per of industry trend, development, regional market. Product and technology development.

Primary Research

The primary sources mainly included several industry experts from the core and related industries and suppliers, manufacturers, distributors, alliances, and organizations related to all segments of this industry’s supply chain. In-depth interviews were conducted with various primary respondents—including key industry participants, subject matter experts (SMEs), C-level executives of key market players, and industry consultants, among other experts—to obtain and verify critical qualitative and quantitative information as well as to assess future prospects. The following figure depicts the market research methodology used in drafting this report on the Life & Health Insurance market.

Primary Respondent breakdown is given below:

Life & Health Insurance Market Primary Respondents

 

Market Sizing

Top-down and bottom approaches were used to derive the market estimate and validating the total revenue of the Life & Health Insurance market. This approach has also been used to derive the market for segmentation and sub-segmentation.

Data Validation

Impact analysis has been conducted for deriving the market size. After collecting the in-depth quantitative and qualitative data we contact primary respondent in order to gain 98.8% of confidence level on our data.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Reasons to Acquire

  • Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
  • Gain authentic and granular data access for Life & Health Insurance market so as to understand the trends and the factors involved behind changing market situations
  • Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
  • In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope

 

Report Feature

Descriptions

Market Revenue In 2021

USD 2,400 billion

Growth Rate

CAGR of 6.9% during the forecasting period, 2021-2028

Historical Data

2018-2019

Forecast Years

2021-2028

Base Year

2020

Units Considered

Revenue in USD billion and CAGR from 2021 to 2028

Report Segmentation

Distribution Channel, Insurance Type, Coverage , End User Type, and Age Group and Geography

Report Attribute

Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling

Regional Level Scope

North America, Europe, Asia-Pacific, South America, and Middle East and Africa

Country Level Scope

U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe)

Companies Profiled

Aetna Inc., AIA Group Limited, Allianz, ASSICURAZIONI GENERALI, S.P.A., Aviva, AXA, Cigna,

Ping An Insurance (Group), Company of China, Ltd.,

UnitedHealth Group,

Zurich 

Available Customization

In addition to the market data for Life & Health Insurance market, Delvens. offers client-centric report and customized according to the company’s specific demand and requirement.

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