Published on : Jul 14, 2016
ALBANY, New York, July 14, 2016: ResearchMoz.us has announced the addition of the “Global Micro Insurance Market 2016-2020” report to its offering. This study provides top-level information on the market with thorough forecasts on the key indicators in the forecast period 2016 to 2020. The study also presents an extensive evaluation coupled with quantitative insights on the micro insurance market. An analysis of the key risk factors, major opportunities, and chief trends within the market has also been presented in this research study. The competitive landscape of the market has also been thoroughly reviewed in this research study.
As per the report, the global micro insurance market is poised to rise at an 8.20% CAGR from 2016 to 2020. The report starts by presenting the introduction section covering the market overview and chief players within the micro insurance value chain. In addition, this part of the report also highlights how regulations and policies have been impacting the business environment of the market for micro insurance. In addition, the difference between micro insurance and traditional insurance has also been presented under this section of the report.
Micro insurance provides customized insurance coverage policies for people with low incomes and low saving plans. In return, the insured customer pays small premiums to the insurance company. Currently, the providers of micro insurance are focusing more on newer markets in order to meet the increasing demands of low-income customers in these markets by presenting top-notch coverage policies at economical rates.
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In the next part, the geographical segmentation of the market for micro insurance has been presented. In terms of geography, the report segments the market into Asia Pacific (APAC), the Americas, and Europe, the Middle East, and Africa (EMEA). Amongst these, APAC is expected to lead the market in the forecast horizon with a share of 80% by 2020. The development of the national economies, the legislative and regulatory growth, and the soaring count of individuals with low-income are the prime factors providing impetus to the growth of the micro insurance market in the region of APAC.
Next in the report is an analysis on the major dynamics shaping the development of this market. These include the top drivers, impeders, trends, and challenges. The increasing introduction of different types of valuation strategies is a prime factor boosting the growth of the global micro insurance market. The introduction of micro insurance globally through social media by the prime players is a key growth trend seen in this market. However, issues in assessing the credits of the insured individuals is a major factor restraining the growth of the global micro insurance market.
As per this study, the major vendors dominant in this market are Alternative Insurance Company, IFFCO Tokio General Insurance, Bajaj Allianz, Mapfre, Pioneer Life, Hollard Insurance, HDFC Ergo, MicroEnsure, PNB MetLife, and NSIA Insurance, among others.
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