Market Research Report

Global Specialty Insurance Market Report By Type Of Risk (Personal risk, Commercial risk, Mix risk), By Type Of Insurer (Retail Agents, Wholesaler, Other) And By Regions - Industry Trends, Size, Share, Growth, Estimation and Forecast, 2021-2028

April 2021
Report Formats: Report Formats
Global Sресіаltу Inѕurаnсе Market Overview 
The key driver impacting the sресіаltу inѕurаnсе market is the growing concerns related to property & casualty loss due to natural calamity and weakening profitability of specialty carrier in case of bad luck is surging people to take property & casualty insurance policies. For instance, According to the Insurance Information Institute, around 61 catastrophes occurred in the U.S. in 2019, as compared to 55 in 2018. Property/casualty (P/C) insurers paid out over $24.4 billion in property losses linked to catastrophes in 2019. Also, about one in 20 insured homes has a claim every year.  Homeowners' claims linked with wind or hail are the most recurrent; the costliest are related to fire and lightning in U.S. Net premiums on paper for the sector totaled $637.7 billion in 2019.The mean homeowner’s insurance premium increased by 1.6 percent in 2017, following a 1.6 percent rise in 2016. There are around seven million small businesses in the U.S. which range from construction industries to grocery stores to home-based businesses. Moreover, the growing number of starts ups entering the market, such as Friendsurance, Lemonade, and Policygenius have attracted large investments in the insurance sector is also estimated to be significant factor that adds growth to the market.
According to Value Market Research, the global sресіаltу inѕurаnсе market was valued at around USD 240 million in 2019 and is estimated to grow at a CAGR of about 5.75% during the forecast period of 2020 to 2026.

The broader technological developments and innovations strengthen many of InsurTech developments which is likely to improve market demand in the forecast period. For instance, the advancement in technology such as development of Mobile technology and applications (apps), Artificial intelligence (AI), algorithms and Robo-advice, Smart contracts, Blockchain /distributed ledgers technology (DLT), etc. However, the lack of guidance and awareness may hamper the global sресіаltу inѕurаnсе industry in the long run. Also, the Covid 19 pandemic outbreak has reduced trade, affected businesses, and gives rise to unemployment, which negatively impacts the market. The current industry trends, such as technology advancement, better distribution channels, and growing awareness about insurance, are expected to provide beneficial market opportunities for the market players.

The sресіаltу inѕurаnсе market is vast, with a large number of local and global players. The key leaders follow several strategies to improve their market position, such as mergers, acquisitions, expansions, product innovations, and extending product portfolio, to boost their market share globally. For instance, In March 2020, Unity Technologies had acquired Artomatix. It is an Ireland-based software company that utilizes AI and neural networks to rationalize 3D artistic workflows. The important players included Allianz, Argo Group, UnitedHealthcare, AXA, AIG, ACEandChubb, Tokio Marine, China Life, XL Group, PICC, Renaissance Re Holdings, Munich Re Selective Insurance, Hudson, Zurich, and others.

Global Sресіаltу Inѕurаnсе Market Share

In this research report, the sресіаltу inѕurаnсе market is segmented by type covers, application, and region.

Analysis by Type Covers:
By type, the report is categorized into life insurance and property insurance. Property inѕurаnсе dominate the type segment in 2019 with a maximum market share. The growing incidence of home and property loss due to fire, natural, and human-made disasters is boosting demand for specialty insurance in the coming years. Moreover, the rising awareness related to insurance and claims among consumers, thus driving the property insurance segment in the forecast period.

Analysis by Applications:
By applications, the report is categorized into personal and commercial. The commercial dominate the application segment in 2019 with a maximum market share. It is due to mounting demand for sресіаltу inѕurаnсеs across construction, environmental, healthcare, and energy industries. Moreover, PC gamers have a broad range of gaming titles at their disposal. The benefits associated with specialty insurance, such as competitive pricing, more flexible Underwriting, and protection against lawsuits, are enhancing demand for specialty insurance products by commercial consumers, thus contributing to the commercial segment's growth in the forecast period.

Analysis by Region:
In the regional outlook of the global sресіаltу inѕurаnсе market, the Europe and North America region dominates with a maximum market share in 2019. It is due to high awareness of insurance products and the presence of a large number of industries that demand specialty insurance coverage. Moreover, the many regions of North America and Europe are prone to natural disasters such as cyclones; hurricanes, etc. are certain factors driving the market in the forecast period. The Asia Pacific is estimated to grow at a considerable rate due to greater awareness of products, increasing income levels, and improved government-backed penetration.

Market Segmentation covered in the Report:
By Type Covers:
  • Life Insurance
  • Property Insurance
By Applications 
  • Commercial
  • Personal
By Region
  • North America
  • Europe
  • the Asia Pacific
  • Latin America
  • The Middle East and Africa

This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications. 

If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.

       1.1. Report Description
           1.1.1. Objective
           1.1.2. Target Audience
           1.1.3. Unique Selling Proposition (USP) & offerings
       1.2. Research Scope
       1.3. Research Methodology
           1.3.1. Market Research Process
           1.3.2. Market Research Methodology
       2.1. Highlights of Market
       2.2. Global Market Snapshot
       3.1. Introduction - Market Dynamics
       3.2. Market Drivers
       3.3. Market Restraints
       3.4. Opportunities
       3.5. Industry Trends
       3.6. Porter’s Five Force Analysis
       3.7. Market Attractiveness Analysis
           3.7.1 By Type Covers
           3.7.2 By Applications
           3.7.3 By Region
       4.1. Value Chain Analysis
       4.2. Raw Material Analysis
           4.2.1. List of Raw Materials
           4.2.2. Raw Material Manufactures List
           4.2.3. Price Trend of Key Raw Materials
       4.3. List of Potential Buyers
       4.4. Marketing Channel
           4.4.1. Direct Marketing
           4.4.2. Indirect Marketing
           4.4.3. Marketing Channel Development Trend
       5.1. Impact Analysis of Covid-19 Outbreak
           5.1.1. Direct Impact on Production
           5.1.2. Supply Chain and Market Disruption
           5.1.3. Financial Impact on Firms and Financial Markets
       5.2. COVID-19 Impact Analysis by Production, Import, Export and Demand
       5.3. Market: Pre V/S Post COVID-19
       5.4. Estimated Impact of the Coronavirus (COVID-19) Epidemic
       5.5. COVID-19: Micro and Macro Factor Analysis
       6.1 Overview by Type Covers
       6.2 Historical and Forecast Data
       6.3 Analysis by Type Covers
       6.4 Life Insurance Market by Regions
       6.6 Property Insurance Market by Regions
       7.1 Overview by Applications
       7.2 Historical and Forecast Data
       7.3 Analysis by Applications
       7.4 Commercial Market by Regions
       7.5 Personal Market by Regions
       8.1. Regional Outlook
       8.2. Introduction
       8.3. North America
           8.3.1. Overview, Historic and Forecast Data
           8.3.2. North America By Segment
           8.3.3. North America By Country
           8.3.4. United State
           8.3.5. Canada
           8.3.6. Mexico
       8.4. Europe
           8.4.1. Overview, Historic and Forecast Data
           8.4.2. Europe by Segment
           8.4.3. Europe by Country
           8.4.4. United Kingdom
           8.4.5. France
           8.4.6. Germany
           8.4.7. Italy
           8.4.8. Russia
           8.4.9. Rest Of Europe
       8.5. Asia Pacific
           8.5.1. Overview, Historic and Forecast Data
           8.5.2. Asia Pacific by Segment
           8.5.3. Asia Pacific by Country
           8.5.4. China
           8.5.5. India
           8.5.6. Japan
           8.5.7. South Korea
           8.5.8. Australia
           8.5.9. Rest Of Asia Pacific
       8.6. Latin America
           8.6.1. Overview, Historic and Forecast Data
           8.6.2. Latin America by Segment
           8.6.3. Latin America by Country
           8.6.4. Brazil
           8.6.5. Argentina
           8.6.6. Peru
           8.6.7. Chile
           8.6.8. Rest of Latin America
       8.7. Middle East & Africa
           8.7.1. Overview, Historic and Forecast Data
           8.7.2. Middle East & Africa by Segment
           8.7.3. Middle East & Africa by Country
           8.7.4. Saudi Arabia
           8.7.5. UAE
           8.7.6. Israel
           8.7.7. South Africa
           8.7.8. Rest Of Middle East And Africa
       9.1. Sресіаltу Inѕurаnсе Market Competition
       9.2. Partnership/Collaboration/Agreement
       9.3. Merger And Acquisitions
       9.4. New Product Launch
       9.5. Other Developments
       10.1. Company Share Analysis
       10.2. Market Concentration Rate
       10.3. Allianz
           10.3.1. Company Overview
           10.3.2. Financials
           10.3.3. Products
           10.3.4. Recent Developments
       10.4. Argo Group
           10.4.1. Company Overview
           10.4.2. Financials
           10.4.3. Products
           10.4.4. Recent Developments
       10.5. UnitedHealthcare
           10.5.1. Company Overview
           10.5.2. Financials
           10.5.3. Products
           10.5.4. Recent Developments
       10.6. AXA
           10.6.1. Company Overview
           10.6.2. Financials
           10.6.3. Products
           10.6.4. Recent Developments
       10.7. AIG
           10.7.1. Company Overview
           10.7.2. Financials
           10.7.3. Products
           10.7.4. Recent Developments
       10.8. ACEandChubb
           10.8.1. Company Overview
           10.8.2. Financials
           10.8.3. Products
           10.8.4. Recent Developments
       10.9. Tokio Marine
           10.9.1. Company Overview
           10.9.2. Financials
           10.9.3. Products
           10.9.4. Recent Developments
       10.10. China Life
           10.10.1. Company Overview
           10.10.2. Financials
           10.10.3. Products
           10.10.4. Recent Developments
       10.11. XL Group
           10.11.1. Company Overview
           10.11.2. Financials
           10.11.3. Products
           10.11.4. Recent Developments
       10.12. PICC
           10.12.1. Company Overview
           10.12.2. Financials
           10.12.3. Products
           10.12.4. Recent Developments
       10.13. Renaissance Re Holdings
           10.13.1. Company Overview
           10.13.2. Financials
           10.13.3. Products
           10.13.4. Recent Developments
       10.14. Munich Re Selective Insurance
           10.14.1. Company Overview
           10.14.2. Financials
           10.14.3. Products
           10.14.4. Recent Developments
       10.15. Hudson
           10.15.1. Company Overview
           10.15.2. Financials
           10.15.3. Products
           10.15.4. Recent Developments
       10.16. Zurich
           10.16.1. Company Overview
           10.16.2. Financials
           10.16.3. Products
           10.16.4. Recent Developments
 *Note - in company profiling, financial details and recent development are subject to availability or might not be covered in case of private companies

  •  Market Snapshot
  •  Drivers : Impact Analysis
  •  Restraints : Impact Analysis
  •  List of Raw Material
  •  List of Raw Material Manufactures
  •  List of Potential Buyers
  •  COVID-19 Impact Analysis by Production, Import, Export and Demand
  •  Pre V/S Post COVID-19
  •  Estimated Impact Of The Coronavirus (Covid-19) Epidemic
  •  COVID-19: Micro and Macro Factor Analysis
  •  Analysis by Type Covers (USD MN)
  •  Life Insurance Market by Geography (USD MN)
  •  Property Insurance Market by Geography (USD MN)
  •  Analysis Market by Applications  (USD MN)
  •  Commercial Market by Geography (USD MN)
  •  Personal Market by Geography (USD MN)
  •  Global Sресіаltу Inѕurаnсе Market by Geography (USD MN)
  •  North America Market Analysis (USD MN)
  •  United State Market Analysis (USD MN)
  •  Canada Market Analysis (USD MN)
  •  Mexico Market Analysis (USD MN)
  •  Europe Market Analysis (USD MN)
  •  Europe Market Estimate by Country (USD MN)
  •  United Kingdom Market Analysis (USD MN)
  •  France Market Analysis (USD MN)
  •  Germany Market Analysis (USD MN)
  •  Italy Market Analysis (USD MN)
  •  Russia Market Analysis (USD MN)
  •  Spain Market Analysis (USD MN)
  •  Rest of Europe Market Analysis (USD MN)
  •  Asia Pacific Market Analysis (USD MN)
  •  China Market Analysis (USD MN)
  •  Japan Market Analysis (USD MN)
  •  India Market Analysis (USD MN)
  •  South Korea Market Analysis (USD MN)
  •  Australia Market Analysis (USD MN)
  •  Rest of Asia Pacific Market Analysis (USD MN)
  •  Latin America Market Analysis (USD MN)
  •  Brazil Market Analysis (USD MN)
  •  Argentina Market Analysis (USD MN)
  •  Peru Market Analysis (USD MN)
  •  Chile Market Analysis (USD MN)
  •  Rest of Latin America Market Analysis (USD MN)
  •  Middle East & Africa Market Analysis (USD MN)
  •  Saudi Arabia Market Analysis (USD MN)
  •  UAE Market Analysis (USD MN)
  •  Israel Market Analysis (USD MN)
  •  South Africa Market Analysis (USD MN)
  •  Rest of Middle East and Africa Market Analysis (USD MN)
  •  Partnership/Collaboration/Agreement
  •  Mergers And Acquisiton
  •  Research Scope of Sресіаltу Inѕurаnсе Report
  •  Market Research Process
  •  Market Research Methodology
  •  Global Sресіаltу Inѕurаnсе Market Size, by Region (USD MN)
  •  Porters Five Forces Analysis
  •  Market Attractiveness Analysis by Type Covers
  •  Market Attractiveness Analysis by Applications
  •  Market Attractiveness Analysis by Region
  •  Value Chain Analysis
  •  Global Market Analysis by Type Covers (USD MN)
  •  Life Insurance Market by Geography (USD MN)
  •  Property Insurance Market by Geography (USD MN)
  •  Global Market Analysis by Applications  (USD MN)
  •  Commercial Market by Geography (USD MN)
  •  Personal Market by Geography (USD MN)
  •  Global Market by Revenue
  •  North America Market by Revenue
  •  Europe Market by Revenue
  •  Asia Pacific Market by Revenue
  •  Latin America Market by Revenue
  •  Middle East & Africa Market by Revenue
  •  Recent Development in Industry
  •  Company Market Share Analysis
 * Kindly note that the above listed are the basic tables and figures of the report and are not limited to the TOC.

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