NEW YORK, Jan. 17, 2017 /PRNewswire/ -- Life Insurance Providers are entities engaged in direct underwriting annuities and life insurance policies, disability income insurance policies and accidental death and dismemberment insurance policies. This includes both government and private owned Insurance Providers that underwrite both linked policies which act as insurance as well as investment policy and non-linked polices or annuities against uneventful events such as death, permanent disability and temporary disability.
Health Insurance Providers are companies primarily involved in direct underwriting health and medical insurance policies. Group hospitalization plans and Health Maintenance Organization HMO establishments (except those providing health care services) that provide health and medical insurance policies are included in this industry.
The Americas was the x largest geographic region in the life & health insurance services market in 2016, accounting for $x billion or x% of the global market. Asia was the x largest geographic market, accounting for $x billion or x% of the global market. Europe was the x largest geographic market, accounting for $x billion or x% of the global market. The Middle East and Africa accounted for x% and $x billion, while Oceania accounted for x% of the global life & health insurance market.
Rising Investments in Mobile and Internet Channel Strategies
Life and health insurance companies are formulating unique mobile and internet strategies as customers are increasingly choosing mobile and internet channels for insurance products purchase . Faster communication and the ability to compare products and services being offered by various companies is driving the customers to mobile and internet channels .Rise in investments in the mobile and internet channels is also being driven by increasing internet and smartphone penetration in both developed and developing economies.Brokers, agents, and employees are also using mobile and internet channels for tracking leads,provide quotes to customers,manage accounts and renewals. For instance, CastLight Health's mobile application offers medical services comparision feature based on the price and care comparision,thus indicating high mobile and internet channel adoption among customers leading to increasing investments in mobile and internet channel strategies.
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