Online Insurance Market Expected to Reach $330.1 Billion by 2031—Allied Market Research. At a CAGR of 20.2%

Posted byamarketplaceresearch Leave a comment on Online Insurance Market Expected to Reach $330.1 Billion by 2031—Allied Market Research. At a CAGR of 20.2%

The global online insurance market was valued at $53.2 billion in 2021, and is projected to reach $330.1 billion by 2031, growing at a CAGR of 20.2% from 2022 to 2031.

The online insurance market is segmented on the basis of by, enterprise size, insurance type, end user, and region. On the basis of enterprise size, the market is bifurcated into large enterprises and SMEs. On the basis of insurance type, it is categorized into life insurance, motor insurance, health insurance, and others. By end user, it is classified into insurance companies, aggregators, and third-party administrators & brokers. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Download Free Sample Report: https://www.alliedmarketresearch.com/request-sample/32125

Report Coverage and Details:

Report Coverage Details

Forecast Period 20221-2031

Base Year 2021

Market Size in 2021 $53.2 billion.

Market Size in 2031 $330.1 billion.

CAGR 20.2%

No. of Pages in Report 263

Segments Covered Funding Type, Fund Size, Industry Vertical, and Region

Drivers Increase in technology sector

Rise in adoption of modern technologies in the insurance industry.

Increase in internet penetration

Increase in smart phone usage

“COVID-19 had a positive impact on the growth of the online insurance market owing to, increasing demand for strengthening the remote access policy and procedures, and providing an opportunity to regroup and redesign operational solutions to meet the demand of the policyholder by online platform.”

The report segments the global global online insurance market on the basis of funding type, fund size, industry vertical, and region. Based on funding type, the follow-on venture funding segment is expected to portray the highest CAGR of 24.4% during the forecast period. However, the first-time venture funding segment held the largest share in 2021, contributing to around three-fourths of the market.

The online insurance market is segmented on the basis of by, enterprise size, insurance type, end user, and region. On the basis of enterprise size, the market is bifurcated into large enterprises and SMEs. On the basis of insurance type, it is categorized into life insurance, motor insurance, health insurance, and others. By end user, it is classified into insurance companies, aggregators, and third-party administrators & brokers. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Request Customization : https://www.alliedmarketresearch.com/request-for-customization/32125

Based on enterprise size, the large enterprises segment held the major market share in 2021, holding more than two-thirds of the global online insurance market share, and is expected to maintain its leadership status during the forecast period. However, the SMEs segment, is expected to cite the fastest CAGR of 21.5% during the forecast period.

On the basis of insurance type, the life insurance segment held the largest market share in 2021, accounting for more than half of the global online insurance market share, and is expected to maintain its leadership status during the forecast period. Nevertheless, the health insurance segment, is expected to cite the highest CAGR of 22.6% during the forecast period.

In terms of end user, the insurance companies segment held the largest market share in 2021, accounting for half of the global online insurance market share. Furthermore, the same segment is expected to maintain its leadership status during the forecast period. Nevertheless, the third party administrators brokers segment, is expected to cite the highest CAGR of 21.8% during the forecast period.

Region-wise, the North American region held the major market share in 2021, grabbing nearly two-fifths of the global online insurance market share. Moreover, the North American market is slated to dominate the global market share during the forecast period. In addition, the Asia-Pacific region is expected to cite the fastest CAGR of 22.2% during the forecast period. The report also analyses other regions such as Europe and LAMEA.

The key players analyzed in the global online insurance market report includes Allianz SE, assicurazioni generali spa, AXA Group, Munich Re, Swiss Re, Aviva, Zurich Insurance Group, Esurance Insurance Services, Inc, Lemonade, Inc., and RooT

The report analyzes these key players in the global online insurance market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance, and operating segments by prominent players in the market. 

Connect Analyst: https://www.alliedmarketresearch.com/connect-to-analyst/32125

KEY BENEFITS FOR STAKEHOLDERS        

  • The study provides an in-depth analysis of the online insurance market forecast along with current & future trends to explain the imminent investment pockets.
  • Information about key drivers, restraints, & opportunities and their impact analysis on global online insurance market trends is provided in the report.
  • The Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
  • The online insurance market analysis from 2022 to 2031 is provided to determine the market potential.

Key Market Segments

Enterprise Size

  • Large Enterprises
  • SMEs

Insurance type

  • Life Insurance
  • Motor Insurance
  • Health Insurance
  • Others

End User

  • Insurance Companies
  • Aggregators
  • Third Party Administrators and Brokers

By Region

  • North America  (U.S., Canada)
  • Europe  (UK, Germany, France, Spain, Italy, Rest of Europe)
  • Asia-Pacific  (China, Japan, South Korea, India, Australia, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)

Trending Reports in BFSI Industry:

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact Us:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com

Web: www.alliedmarketresearch.com

Allied Market Research Blog: https://blog.alliedmarketresearch.com

Follow Us on | Facebook | LinkedIn | YouTube |

Leave a comment

Your email address will not be published. Required fields are marked *