Gross written premiums in the South Korean personal accident and health insurance segment increased from KRW9.0 trillion (US$8.2 billion) in 2008 to KRW20.8 trillion (US$18.4 billion) in 2012, at a CAGR of 23.2% during the review period (2008–2012). This growth was primarily generated by the country’s high traffic accident rates, increased penetration of health insurance products, rising disposable income, improved awareness of the benefits of health insurance, increased outbound tourism, the country’s aging population and rising healthcare expenditure. Over the forecast period (2013–2017), the segment’s key growth driver is expected to be the increased participation of private health insurers following government measures designed to contain the country’s rising public healthcare expenditure.
The report provides in depth market analysis, information and insights into the South Korean personal accident and health insurance segment, including:
- The South Korean personal accident and health insurance segment’s growth prospects by insurance categories
- Key trends and drivers for the personal accident and health insurance segment
- The various distribution channels in the South Korean personal accident and health insurance segment
- Detailed competitive landscape in the personal accident and health insurance segment in South Korea
- Detailed regulatory framework of the South Korean insurance industry
- A description of the personal accident and health reinsurance segment in South Korea
- Porter's Five Forces Analysis of the personal accident and health insurance segment
- Benchmarking section on the South Korean personal accident and health insurance segment in comparison to other countries in the category of US$60-150 billion of total gross written premiums
Scope
This report provides a comprehensive analysis of the personal accident and health insurance segment in South Korea:
- It provides historical values for South Korea's personal accident and health insurance segment for the report’s 2008–2012 review period and forecast figures for the 2012–2017 forecast period
- It offers a detailed analysis of the key sub-segments in South Korea's personal accident and health insurance segment, along with market forecasts until 2017
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
- It analyses the various distribution channels for personal accident and health insurance products in South Korea
- Using Porter’s industry-standard "Five Forces" analysis, it details the competitive landscape in South Korea for the personal accident and health insurance segment
- It provides a detailed analysis of the reinsurance segment in South Korea and its growth prospects
- It profiles the top personal accident and health insurance companies in South Korea and outlines the key regulations affecting them
Reasons To Buy
- Make strategic business decisions using in depth historic and forecast market data related to the South Korean personal accident and health insurance segment and each category within it
- Understand the demand-side dynamics, key market trends and growth opportunities within the South Korean personal accident and health insurance segment
- Assess the competitive dynamics in the personal accident and health insurance segment, along with the reinsurance segment
- Identify the growth opportunities and market dynamics within key product categories
- Gain insights into key regulations governing the South Korean insurance segment and its impact on companies and the market's future
Key Highlights
- The segment’s written premium grew from KRW9.0 trillion (US$8.2 billion) in 2008 to KRW20.75 trillion (US$18.4 billion) in 2012, after recording a review-period CAGR of 23.2%
- The personal accident category was the largest in the segment, accounting for 57.7% of the segment’s written premiums in 2012
- The country’s National Health Insurance (NHI), which does not cover all diseases, and rising healthcare expenditure will encourage the growing urban population to invest in private health insurance
- Health insurance was the second-largest category in the personal accident and health segment in 2012, accounting for 39.6% of the segment’s written premium
- The increasing number of outbound tourists is expected to drive growth in the travel insurance category over the forecast period
- The segment remains highly competitive, and challenges arise from the need of firms to increase their market share while underwriting a profitable business model.
Spanning over 229 pages, 121 tables and 164 figures, “Personal Accident and Health Insurance in South Korea, Key Trends and Opportunities to 2017” report provides information on market overview, drivers and challenge, competition and key trends.
In addition to covering The Regional Market Dynamics, Personal Accident and Health Insurance Segment – Regional Benchmarking, South Korean Insurance Industry Attractiveness, Personal Accident and Health Insurance Segment Outlook, Analysis by Distribution Channels, Porter’s Five Forces Analysis – South Korean Personal Accident and Health Insurance, Reinsurance Growth Dynamics and Challenges, Governance, Risk and Compliance, Competitive Landscape and Strategic Insights, Business Environment and Country Risk, Appendix. The report cover 5 companies Samsung Life Insurance Co. Ltd, Kyobo Life Insurance Co. Ltd, Dongbu Insurance Co. Ltd, Lotte Non-Life Insurance Co. Ltd, MetLife Insurance Co. of Korea Ltd.
For more information visit : http://www.marketresearchreports.com/timetric/personal-accident-and-health-insurance-south-korea-key-trends-and-opportunities-2017
Find all Insurance reports under a single page
No comments:
Post a Comment