Global Property Insurance Market to grow at a CAGR of 5.6% during the period 2016 - 2020; Finds New Report

Report forecast the global property insurance market to grow at a CAGR of 5.6% during the period 2016-2020.

A property insurance policy covers any loss or damage to personal or commercial property. It also insures against loss or damage to the contents that are kept on the property and are under the control of the customers. However, if the property is given on rent or lease, the owner is expected to take appropriate insurance by the terms of the lease or contract. The more kind of loss the policy covers, the higher the premium.

The report covers the present scenario and the growth prospects of the global property insurance market for 2016-2020. To calculate the market size, the report considers two types of property insurance premium: personal and commercial.

The market is divided into the following segments based on geography:

• Americas
• APAC
• EMEA

According to the report, a key driver of market growth is the use of risk management tools. The property insurance vendors are looking for strong investment returns that they can reinvest to get higher yields. This brings in profitability to the system. Therefore, it is important that the vendors meet the customers' demand while challenging the increased risk and uncertainty. For instance, PACE is an advanced software application tool that integrates the management of the property risk survey reports and evaluates it. Its advanced security features include a hierarchy permission-based system that gives full access to customers' data. Such features ensure transparency in the risk management solutions.

Further, the report states that one challenge that would impact market growth is the effect of pricing and rating systems used by the insurance industry.

Global Property Insurance Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the Global Property Insurance Market: American International Group, Allstate Insurance, Berkshire Hathaway Homestate, and Liberty Mutual Insurance.

Other Prominent Vendors in the market are: State Farm Fire & Casualty Co., Nationwide Mutual Insurance Co., Farmers Insurance Group of Companies, Chubb’s Federal Insurance Co., CNA Financial Corp.’s Continental Casualty Company, Wells Fargo, Munich Re, Zurich Insurance Group, AXA, and Lloyd’s.

Market driver

• Risk management tools
• For a full, detailed list, view our report

Market challenge

• Effect of pricing and rating system
• For a full, detailed list, view our report

Market trend

• Data analytics and predictive modeling strategy
• For a full, detailed list, view our report

Key questions answered in this report

• What will the market size be in 2020 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the key vendors?
• What are the strengths and weaknesses of the key vendors?

Spanning over 55 pages and 20 Exhibit “Global Property Insurance Market 2016 - 2020” report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Market segmentation by property, Geographical segmentation, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Appendix.

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