The global microinsurance market is expected to grow at a CAGR of around 7% during 2019-2024
As a component of microfinance, microinsurance is the coverage offered to low-income households with limited income access and low-valued assets. It aids individuals belonging to the financially weaker section of the society by formulating a tailored plan with low premiums and provides compensation for illness, injury, disabilities and death. It also covers various property risks against crops, cattle and fire.
It merges multiple small financial units into a more massive structure and provides a cushion against unexpected losses and exorbitant interest rates charged by unorganized money lenders. Microinsurance can be delivered through various models such as the partner-agent model, all-in-one-insurance model, full-service model and community-based model which can be administered through certified institutions and intermediaries.
Growth of the insurance sector across the globe and increasing access to financial services among all classes of the society are the chief factors driving the market growth. Recent advancements such as peer-to-peer models and other such consumer-friendly insurance models are also positively influencing the market. These new trends provide consumers with access to ?exible products and an end-to-end digital experience ensuring transparency between the insurance taker and service provider. Additionally, as more products are becoming digitally available, microinsurance policies have gained preference amongst individuals in higher income segments as well.
This latest report provides a deep insight into the global microinsurance market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the global microinsurance market in any manner.
Key Questions Answered in This Report:
How has the global microinsurance market performed so far and how will it perform in the coming years?
What are the key regional markets in the global microinsurance industry?
What is the breakup of the market based on the product type?
What is the breakup of the market based on the provider?
What is the breakup of the market based on the model type?
What are the various stages in the value chain of the global microinsurance industry?
What are the key driving factors and challenges in the global microinsurance industry?
What is the structure of the global microinsurance industry and who are the key players?
What is the degree of competition in the global microinsurance industry?
What are the profit margins in the global microinsurance industry?
Key Topics Covered:
2 Scope and Methodology 2.1 Objectives of the Study 2.2 Stakeholders 2.3 Data Sources 2.4 Market Estimation 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction 4.1 Overview 4.2 Key Industry Trends
5 Global Microinsurance Market 5.1 Market Overview 5.2 Market Performance 5.3 Market Breakup by Product Type 5.4 Market Breakup by Provider 5.5 Market Breakup by Model Type 5.6 Market Breakup by Region 5.7 Market Forecast
6 Market Breakup by Product Type 6.1 Property Insurance 6.1.1 Market Trends 6.1.2 Market Forecast 6.2 Health Insurance 6.3 Life Insurance 6.4 Index Insurance 6.5 Accidental Death and Disability Insurance 6.6 Others
7 Market Breakup by Provider 7.1 Microinsurance (Commercially Viable) 7.1.1 Market Trends 7.1.2 Market Forecast 7.2 Microinsurance Through Aid/Government Support
8 Market Breakup by Model Type 8.1 Partner Agent Model 8.2 Full-Service Model 8.3 Provider Driven Model 8.4 Community-Based/Mutual Model 8.5 Others