DUBLIN – (BUSINESS WIRE) – The “Global Embedded Insurance Business and Investment Opportunities – Q1 2022 Update” report has been added to ResearchAndMarkets.com’s offering.
According to this report the industry is expected to grow by 31.9% on an annual basis to reach US $ 56,979.8 million in 2022.
The embedded insurance industry is expected to grow steadily over the forecast period, recording a CAGR of 20.7% during 2022-2029. The embedded insurance revenues in the region will increase from US $ 56,979.8 million in 2022 to reach US $ 161,598.3 million by 2029.
The Asia Pacific is the largest embedded insurance market. The region is home to one-third of the world’s population and one of the world’s fastest-growing economies. The most significant number of insurtech firms are emerging in China and India. This is primarily due to a large uninsured population and the strong growth of the fintech industry.
Insurers and insurtech firms are widely experimenting with new insurance offerings, distribution models, and technological advancements resulting in innovations. In the recent four to eight quarters, there has been a significant increase in the number of funds raised by market players in the embedded insurance ecosystem.
Additionally, substantial growth in digitization in emerging countries such as Indonesia, Malaysia, Thailand, India is attracting the attention of market players. However, the number of technology companies trying to underwrite and sell policies will be limited in the region due to regulatory restrictions on issuing carrier licenses.
Insurers are making strategic investments in insurtech firms to expand their digital distribution channels
Leading insurance companies are planning to expand their operations across the globe, taking advantage of the tremendous growth opportunity that exists in the global embedded insurance industry.
The embedded insurance landscape is booming in Europe, and countries like the United Kingdom, Germany, and France have made significant contributions to the region’s embedded insurance business growth.
To remain competitive in the market and to keep pace with the ever-changing customer requirements, insurers in Europe are modifying their business models and working to improve their distribution channels. Furthermore, with the rising number of new entrants in the region, the European embedded insurance market is soaring. Considerable increases in fresh fundraising rounds are propelling the market to new heights.
According to the publisher analysis, European insurtech start-ups have surpassed the total capital investment of 2020 by more than US $ 1 billion in the first quarter of the year 2021, with a total of nearly US $ 2 billion invested across more than 50 transactions . Over the next four to eight quarters, rising finance activities are likely to raise embedded insurance demand.
The Africa & Middle East region witnessed significant growth in the embedded insurance demand by the mobility sector. Moreover, the embedded insurance market has already crossed the growth stage in the mobility embedded insurance product life cycle and is now moving towards the maturity stage at a considerable pace. The market witnessed numerous collaborations among ride-hailing, driver-sharing, and embedded insurers.
The global coronavirus pandemic has propelled the demand for health insurance products in the Latin American region. Looking at this growing demand for health insurance in the region, insurtech firms are improving their offerings to serve the health insurance segment in a better way.
Reasons to buy
In-depth Understanding of Embedded Finance Market Dynamics: Understand market opportunities and key trends along with forecast (2019-2028).
Insights into Opportunity by end-use sectors – Get market dynamics by end-use sectors to assess emerging opportunity across various end-use sectors.
Develop Market Specific Strategies: Identify growth segments and target specific opportunities to formulate embedded finance strategy; assess market specific key trends, drivers, and risks in the industry.
Get Sector Insights: Drawing from proprietary survey results, this report identifies opportunities across embedded lending, embedded insurance, embedded finance, and embedded wealth sectors.
Key Topics Covered:
1 About this Report
2 Embedded Insurance Industry Revenue Trend Analysis, 2020-2029
3 Embedded Insurance Industry Market Size and Forecast by Type of Insurance
3.1 Market Share Analysis by Type of Insurance
3.2 Life Insurance – Embedded Insurance Industry Revenue Trend Analysis, 2020-2029
3.3 Non-Life Insurance – Embedded Insurance Industry Revenue Trend Analysis, 2020-2029
4 Embedded Insurance Industry Market Size and Forecast by End Use Industry
4.1 Market Share Analysis by End Use Industry Segments
4.2 Consumer Products – Embedded Insurance Industry Revenue Trend Analysis, 2020-2029
4.3 Travel & Hospitality – Embedded Insurance Industry Revenue Trend Analysis, 2020-2029
4.4 Automotive – Embedded Insurance Industry Revenue Trend Analysis, 2020-2029
4.5 Healthcare – Embedded Insurance Industry Revenue Trend Analysis, 2020-2029
4.6 Real Estate – Embedded Insurance Industry Revenue Trend Analysis, 2020-2029
4.7 Transport & Logistics – Embedded Insurance Industry Revenue Trend Analysis, 2020-2029
4.8 Other – Embedded Insurance Industry Revenue Trend Analysis, 2020-2029
5 Embedded Insurance Industry Market Size and Forecast by Type of Offering
6 Further Reading
For more information about this report visit https://www.researchandmarkets.com/r/e2htzw