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Personal Accident and Health Insurance in Venezuela, Key Trends and Opportunities to 2018

Published By :

Timetric

Published Date : Jun 2015

Category :

Health Insurance

No. of Pages : 191 Pages

Synopsis

Timetric’s 'Personal Accident and Health Insurance in the Venezuela, Key Trends and Opportunities to 2018' report provides in-depth market analysis, information and insights into the Venezuelan personal accident and health insurance segment, including:
  • The Venezuelan personal accident and health insurance segment’s growth prospects by insurance category
  • Key trends, drivers and challenges for the personal accident and health insurance segment
  • The various distribution channels in the Venezuelan personal accident and health insurance segment
  • The detailed competitive landscape in the personal accident and health insurance segment in Venezuela
  • Detailed regulatory policies of the Venezuelan insurance industry
  • Analysis of various consumer segments in Venezuelan personal accident and health insurance
Executive summary

Timetric’s 'Personal Accident and Health Insurance in the Venezuela, Key Trends and Opportunities to 2018' report provides detailed analysis of the market trends, drivers, challenges in the Venezuelan personal accident and health insurance segment. It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions during the review period (2009–2013) and forecast period (2013–2018). The report also analyzes distribution channels operating in the segment, and provides detailed information on the competitive landscape in the country. 

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in regulatory structure.

Scope

This report provides a comprehensive analysis of the personal accident and health insurance segment in Venezuela:
  • It provides historical values for the Venezuelan personal accident and health insurance segment for the report’s 2009–2013 review period, and projected figures for the 2013–2018 forecast period.
  • It offers a detailed analysis of the key categories in the Venezuelan personal accident and health insurance segment, along with market forecasts until 2018.
  • It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions.
  • It analyses the various distribution channels for personal accident and health insurance products in Venezuela.
  • It profiles the top personal accident and health insurance companies in Venezuela and outlines the key regulations affecting them.

Reasons to buy

  • Make strategic business decisions using in-depth historic and forecast market data related to the Venezuelan personal accident and health insurance segment and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Venezuelan personal accident and health insurance segment.
  • Assess the competitive dynamics in the personal accident and health insurance segment.
  • Identify the growth opportunities and market dynamics in key product categories.
  • Gain insights into key regulations governing the Venezuelan insurance industry and their impact on companies and the industry's future.

Key highlights

  • The personal health and accident segment was the second-largest segment in the Venezuelan insurance industry in 2013, accounting for 45.8% of the industry’s gross written premium.
  • Health insurance accounted for the largest share of the total personal accident and health gross written premium in 2013, with 95.6%.
  • The growth of the segment was partly due to residents’ growing preference for private hospitals for emergency treatment.
  • Increasing volume of outbound tourists to drive travel insurance.
  • Insurance brokers were the most popular distribution channel.
  • Statuary health insurance leaves less scope for private insurers.
  • Economic factors such as the growing population and economic expansion will support the segment to grow over the forecast period.
Table of Contents

1 Key Facts and Events

2 Executive Summary

3 Introduction
3.1 What is this Report About?
3.2 Definitions
3.3 Methodology

4 Venezuelan Insurance Industry Attractiveness
4.1 Insurance Industry Size, 2009–2018

5 Personal Accident and Health Insurance Segment Outlook
5.1 Consumer Segmentation
5.2 Key Drivers
5.3 Key Trends
5.4 Challenges
5.5 Personal Accident and Health Insurance Growth Prospects by Category
5.5.1 Personal accident insurance
5.5.2 Travel insurance
5.5.3 Life health insurance

6 Analysis by Distribution Channel
6.1 Direct Marketing
6.2 Bancassurance
6.3 Agencies
6.4 E-commerce
6.5 Brokers
6.6 Other Channels

7 Governance, Risk and Compliance
7.1 Legislation Overview and Historical Evolution
7.2 Latest Changes in Regulations
7.3 Legislation and Market Practice by Type of Insurance
7.3.1 Life insurance
7.3.2 Property insurance
7.3.3 Motor insurance
7.3.4 Liability insurance
7.3.5 Marine, aviation and transit insurance
7.3.6 Personal accident and health insurance
7.4 Compulsory Insurance
7.4.1 Health insurance
7.4.2 Motor third-party liability insurance
7.5 Supervision and Control
7.5.1 International Association of Insurance Supervisors (IAIS)
7.5.2 Superintendencia de la Actividad Aseguradora (Sudeaseg)
7.6 Non-Admitted Insurance Regulations
7.6.1 Overview
7.6.2 Intermediaries
7.6.3 Market practices
7.6.4 Fines and penalties
7.7 Company Registration and Operations
7.7.1 Types of insurance organization
7.7.2 Establishing a local company
7.7.3 Foreign ownership
7.7.4 Types of license
7.7.5 Capital requirements
7.7.6 Solvency margins
7.7.7 Reserve requirements
7.7.8 Investment regulations
7.7.9 Statutory return requirements
7.7.10 Fee structure
7.8 Taxation
7.8.1 Insurance premium or policy taxation
7.8.2 Withholding taxes on premium paid overseas
7.8.3 Corporate tax
7.8.4 VAT
7.8.5 Captives
7.9 Legal System
7.9.1 Introduction
7.9.2 Access to court
7.9.3 Alternative dispute resolution (ADR)

8 Competitive Landscape and Strategic Insights
8.1 Overview
8.2 Leading Companies in the Venezuelan Personal Accident and Health Insurance Segment
8.3 Seguros Horizonte SA – Company Overview
8.3.1 Seguros Horizonte SA – key facts
8.3.2 Seguros Horizonte SA – key financials
8.4 Mercantil Seguros CA – Company Overview
8.4.1 Mercantil Seguros CA – key facts
8.4.2 Mercantil Seguros CA – key financials
8.5 Seguros Caracas de Liberty Mutual – Company Overview
8.5.1 Seguros Caracas de Liberty Mutual – key facts
8.5.2 Seguros Caracas de Liberty Mutual – key financials
8.6 CA de Seguros La Occidental – Company Overview
8.6.1 CA de Seguros La Occidental – key facts
8.6.2 CA de Seguros La Occidental – key financials
8.7 Mapfre La Seguridad CA de Seguros – Company Overview
8.7.1 Mapfre La Seguridad CA de Seguros – key facts
8.7.2 Mapfre La Seguridad CA de Seguros – key financials
8.8 CNA de Seguros La Previsora – Company Overview
8.8.1 CNA de Seguros La Previsora – key facts
8.8.2 CNA de Seguros La Previsora – key financials
8.9 Seguros Federal CA – Company Overview
8.9.1 Seguros Federal CA – key facts
8.9.2 Seguros Federal CA – key financials
8.1 Seguros Altamira CA – Company Overview
8.10.1 Seguros Altamira CA – key facts
8.10.2 Seguros Altamira CA – key financials
8.11 Seguros Qualitas CA – Company Overview
8.11.1 Seguros Qualitas CA – key facts
8.11.2 Seguros Qualitas CA – key financials
8.12 Multinacional de Seguros CA – Company Overview
8.12.1 Multinacional de Seguros CA – key facts
8.12.2 Multinacional de Seguros CA – key financials

9 Appendix – 1
9.1 Economic Performance
9.1.1 GDP at constant prices (US$)
9.1.2 GDP per capita at constant prices (US$)
9.1.3 GDP at current prices (US$)
9.1.4 GDP per capita at current prices (US$)
9.1.5 Inflation rate
9.1.6 Exports as a percentage of GDP
9.1.7 Imports as a percentage of GDP
9.1.8 Annual average exchange rate US$–VEF
9.2 Infrastructure
9.2.1 Total internet subscribers
9.3 Labor Force
9.3.1 Unemployment rate
9.4 Demographics
9.4.1 Total population
9.4.2 Urban and rural populations
9.4.3 Age distribution of the total population
9.4.4 Life expectancy

10 Appendix – 2
10.1 Methodology
10.2 Contact Timetric
10.3 About Timetric
10.4 Timetric’s Services
10.5 Disclaimer

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