Edison, NJ -- (SBWire) -- 09/24/2020 --The Global Accident Insurance Market has witnessed continuous growth in the last few years and is projected to grow even further during the forecast period of 2020-2026. The exploration provides a 360° view and insights, highlighting major outcomes of the industry. These insights help the business decision-makers to formulate better business plans and make informed decisions to improved profitability. In addition, the study helps venture or private players in understanding the companies in more detail to make better informed decisions.
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Summary
Global Accident Insurance Market Overview:
Accidents can occur anytime, anywhere, and one needs to manage the expenses not covered by major medical insurance. The introduction of accidental insurance provides an added layer of financial protection, which pays for expenses that are major medical insurance that does not cover. Accident Insurance, also known as supplemental accident insurance or personal accident insurance, pays benefits for accidental injuries. Each accident insurance may differ from each other but are majorly divided into categories to better access risk and coverages which include dislocation, laceration, concussion, fracture, eye injury, burn, dental and accident death and dismemberment.
Market Drivers
Rise in Number of Accidents around the Globe
Government Focus on Accident Insurance
Market Trend
Development of New Offers and Schemes by Insurance Companies
Innovation in Accident Insurance Products
Restraints
Stringent Government Rules and Regulations
Opportunities
High Potential Growth In Emerging Market
Addition of Attractive Features to the Plans by Insurance Companies
Challenges
Lack of Awareness among the Customers
Longer Time for Claim Reimbursement
Competitive Landscape:
Some of the key players profiled in the report are Allianz, AXA, Nippon Life Insurance, American Intl. Group, Aviva, Assicurazioni Generali, Cardinal Health, State Farm Insurance, Dai-ichi Mutual Life Insurance, Munich Re Group, Zurich Financial Services, Prudential, Asahi Mutual Life Insurance, Sumitomo Life Insurance, MetLife, Allstate, Aegon, Aetna, CNP Assurances and PingAn. Analyst at HTF MI see United States Players to retain maximum share of Global Accident Insurance market by 2025. Considering Market by Services, the sub-segment i.e. Ambulance will boost the Accident Insurance market. Considering Market by Time Period, the sub-segment i.e. Life Insurance will boost the Accident Insurance market. Considering Market by End User, the sub-segment i.e. Minors will boost the Accident Insurance market. Considering Market by Provider, the sub-segment i.e. Private will boost the Accident Insurance market.
According to WHI, Every year the lives of approximately 1.35 million people are cut short as a result of a road traffic crash. Between 20 and 50 million more people suffer non-fatal injuries, with many incurring a disability as a result of their injury. The 2030 Agenda for Sustainable Development has set an ambitious target of halving the global number of deaths and injuries from road traffic crashes by 2020.
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Available Customization:
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Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Accident Insurance market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Accident Insurance market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Accident Insurance Providers, Government Agencies, Commercial Research & Development Institutions, Government Organizations, Research Organizations, and Consulting Firms, Trade Associations and Industry Bodies and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.
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