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Increase in number of Cargo Thefts to Boost Global Logistics Insurance Market

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Published on : Aug 24, 2017

ALBANY, New York, August 24, 2017 - The global logistics insurance market is expected to grow over forthcoming years due to various factors including the increase in number of cargo thefts. ResearchMoz.us has included a report, titled “Global Logistics Insurance Market 2017-2021,” which illustrates the significant factors influencing the growth of this market for the forecast period of 2017-2021. This report states that the market is anticipated to grow at a steady CAGR of 2.35% during the period 2017-2021.

Logistic insurance provides the customers with compensation in case of loss, injury, or damage of supply chains in exchange for a premium. Insurance services include various forms of compensation benefits such as pre-decided beneficiaries, compensation for accidental death, reimbursement of the cost associated with healthcare, protection of vehicles or property against loss or damage. Privatization of the transportation industry, increasing globalization, establishment of free trade zones, and the increasing foreign direct investment are few of the factors affecting the growth of the market in the positive manner. This report is a guide to various such trends that affect the market growth either in positive or negative way. This evaluation of various trends are expected to provide readers the various aspects of the market.

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The report considers the revenue generated by various vendors through sales of insurance products. As there are various product types of logistic insurances, the market is segment based on product type, which include aviation insurance, inland insurance, and marine insurance. Market share for these segments are estimated for the forecast period. The global logistics insurance market can be geographically segmented into Europe, the Middle East and Africa, Asia Pacific, and America. This report provides the growth estimations of this market for these regions over the forecast period. As various regional regulations and trends affect the regional segments, regulations and trends for these regions are evaluated.

The prominent players in this market include Marsh, Liberty Mutual Insurance, Integrity Transportation Insurance Agency, AXA, Aon, AIG, and AGCS. This report covers profiles of these companies. Strategies followed by these players to stay competitive, hurdles faced by them, opportunities present for them in this market, and their strengths and weakness are evaluated.

The increasing usage of smartphones in both emerging and developed markets is creating the need for implementing mobility in the part of business strategy. Implementation of mobility allows customers to store the policy data, locate insurance agent, calculate premium, and easily request a policy quote with the help of mobile apps. The emergence of digital technologies is motivating the players to explore new opportunities for improved customer experience, increasing governance, better risk selection, and additional premiums. Numerous insurers are implementing advanced technologies and adopting mobile-based and cloud-based technologies to fulfill the increasing demand in the emerging markets. This report gives the market players insights into the opportunities present for them in the market.

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