Insurance Market Is Set To Achieve Over $8 Trillion By 2026 With Increased Internet Based Risks – EIN News
Insurance Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
The Business Research Company’s Insurance Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
LONDON, GREATER LONDON , UK, March 23, 2022 /EINPresswire.com/ — The rapid growth in internet penetration and increased risks associated with internet use for critical transactions is driving the insurance industry growth. 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 market.
The global insurance market size is expected to grow from $5.38 trillion in 2021 to $5.94 trillion in 2022 at a compound annual growth rate (CAGR) of 10.4%. The global insurance market share is expected to grow to $8.40 trillion in 2026 at a CAGR of 9.1%.
Read more on the Global Insurance Market Report:
https://www.thebusinessresearchcompany.com/report/insurance-global-market-report
Peer-to-peer insurance is one of the insurance market trends which 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.
Major players covered in the global insurance industry are 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., and Japan Post Group
TBRC’s global insurance market report is segmented by type into life insurance, property and casualty insurance, health and medical insurance, by end-user into corporate, individual, by mode into online, offline.
Insurance Global Market Report 2022 – By Type (Life Insurance, Property And Casualty Insurance, Health And Medical Insurance), By End User (Corporate, Individual), By Mode (Online, Offline) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a insurance global market overview, forecast insurance market size and growth for the whole market, insurance market segments, geographies, insurance market trends, insurance market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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https://www.thebusinessresearchcompany.com/sample.aspx?id=230&type=smp
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March 23, 2022, 12:43 GMT
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