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Insurance, Reinsurance And Insurance Brokerage Global Market Report 2022: Cyber Insurance Represents A Burgeoning Sector Driven By Increasing Internet Penetration
Dublin, Aug. 01, 2022 (GLOBE NEWSWIRE) -- The "Insurance, Reinsurance And Insurance Brokerage Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global insurance, reinsurance and insurance brokerage market is expected to grow from $6,254.86 billion in 2021 to $6,905.65 billion in 2022 at a compound annual growth rate (CAGR) of 10.4%. The market is expected to grow to $9,762.37 billion in 2026 at a compound annual growth rate (CAGR) of 9%.
The insurance, reinsurance, and insurance brokerage market consists of sales of insurance by entities (organizations, sole traders, and partnerships) that are engaged in providing insurance and related activities such as underwriting (assuming the risk and assigning premiums) policies, insurance brokerage, and reinsurance.
North America was the largest region in the insurance, reinsurance, and insurance brokerage market in 2021. Asia Pacific was the second largest region in the insurance, reinsurance, and insurance brokerage. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The rapid growth in internet penetration and increased risks associated with internet use for critical transactions is driving the demand for cyber insurance. Cyber insurance covers internet-based risks and risks related to information technology infrastructure. It also covers property theft, business interruption, software and data loss, cyber extortion, network failure liability, cyber-crime, and physical asset damage.
For instance, in 2021, according to the National Health Authority of India, an Indian government agency, there were 1.18 billion mobile connections, 600 million smartphones, and 700 million Internet users in India, which are increasing by 25 million every quarter. Therefore, the rapid growth in internet penetration and increased risks associated with internet use drives the insurance, reinsurance, and insurance brokerage market.
Peer-to-peer insurance is gradually gaining prominence both in emerging and developed markets driven by the reduced cost of premium in emerging countries resulting from improved internet penetration in those regions. Peer-to-peer insurance is based on pooling insurance premiums of participating individuals that can be used to compensate future uncertain losses and share the left-over amount among participants. It aims to reduce premium and overhead costs than traditional Insurance Providers, decrease inefficiencies, and increase the transparency of businesses.
Scope
Markets Covered:
1) By Type: Insurance; Insurance Brokers And Agents; Reinsurance
2) By Mode: Online; Offline
3) By End User: Corporate; Individual
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Insurance, Reinsurance And Insurance Brokerage Market Characteristics
4. Insurance, Reinsurance And Insurance Brokerage Market Product Analysis
5. Insurance, Reinsurance And Insurance Brokerage Market Supply Chain
6. Insurance, Reinsurance And Insurance Brokerage Market Customer Information
7. Insurance, Reinsurance And Insurance Brokerage Market Trends And Strategies
8. Impact Of COVID-19 On Insurance, Reinsurance And Insurance Brokerage
9. Insurance, Reinsurance And Insurance Brokerage Market Size And Growth
10. Insurance, Reinsurance And Insurance Brokerage Market Regional Analysis
11. Insurance, Reinsurance And Insurance Brokerage Market Segmentation
12. Insurance, Reinsurance And Insurance Brokerage Market Segments
13. Insurance, Reinsurance And Insurance Brokerage Market Metrics
14. Asia-Pacific Insurance, Reinsurance And Insurance Brokerage Market
15. Western Europe Insurance, Reinsurance And Insurance Brokerage Market
16. Eastern Europe Insurance, Reinsurance And Insurance Brokerage Market
17. North America Insurance, Reinsurance And Insurance Brokerage Market
18. South America Insurance, Reinsurance And Insurance Brokerage Market
19. Middle East Insurance, Reinsurance And Insurance Brokerage Market
20. Africa Insurance, Reinsurance And Insurance Brokerage Market
21. Insurance, Reinsurance And Insurance Brokerage Market Competitive Landscape
22. Key Mergers And Acquisitions In The Insurance, Reinsurance And Insurance Brokerage Market
23. Market Background: Financial Services Market
24. Recommendations
25. Appendix
26. Copyright And Disclaimer
Companies Mentioned
Allianz Group
Ping An Insurance
Axa Group
Anthem Inc.
China Life Insurance
Centene
People's Insurance Company of China
Humana
Assicurazioni Generali S.p.A.
Japan Post Group
For more information about this report visit https://www.researchandmarkets.com/r/qj31vi
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