The global Term Insurance market garnered revenue around USD 1465.8 Billion in 2019 and projected to reach USD 2021.62 Billion in 2027, with at a compound annual growth rate of 4.7% throughout the estimate period from 2020 to 2027.
The finance sector has been consistently treading through uncertainty and exhibited fluctuating growth patterns over the past few years due to an array of factors. A number of insurance companies have entered the current financial ecosystem around the world due to which, there is no dearth of insurance services, particularly in the urban regions of the world. Some of the factors that have had a negative impact on the demand for term insurance include looming threat of a global recession, low interest rates, and stagnant growth. At present, players operating in the current term insurance market landscape are focusing on devising strategic plans and transformation programs to roll out products and solutions to attract a larger consumer base.
This research report encompasses precise assessment of the market with the help of comprehensive qualitative insights and supportable prognoses regarding market size, consumption and production. The projections presented in the report have been derived using proven research methodologies and assumptions. It does so by means of comprehensive qualitative insights, historical statistics, and verifiable predictions about market revenue and sales.
The rapidly budding threat owed to the eruption of COVID-19 is impacting lives, communities, businesses, and industries across the globe. With businesses shuttered, flights grounded, COVID-19 is about to affect the global economy in different ways such as by directly upsetting production and demand, by generating supply chain disruption, and by its financial impact on firms and financial markets. Therefore, this report covers COVID-19 outbreak impact analysis on the Term Insurance market under the research study. The market estimates offered in the report are the outcome of in-depth extensive secondary research, primary interviews and in-house professional assessments. These market evaluations have been measured by reviewing the impact of numerous social, political and economic factors coupled with recent market dynamics affecting the Term Insurance market growth.
The global Term Insurance market is characterized by the presence of numerous small as well as medium scale companies. These players are largely focused towards forward integration via raw material production, product manufacturing, and distribution across various industry verticals. The report recognizes numerous crucial manufacturers of the market. This research study aids to comprehend the strategies and associations that companies are converging to survive in this competitive marketplace. This report assists in understanding footprints of the manufacturers with the help of their global revenue, production, capacity and average selling price analysis for period 2016-2027.
Major manufacturers analysed under this study comprises:
• AIA Group
• AIG
• Allianz SE
• AXA
• Berkshire Hathway
• Brighthouse Financial
• China Life Insurance
• Prudential PLC
• United Health Group
• Zurich Insurance Group
This report delivers market breakdown and its revenue, consumption, production analysis and projections by categorizing it depending on parameters such as type, application/end-user, and region. This research report delivers the analysis and prognosis of revenue, production, price, market share and growth trend for different products such as:
Term Insurance Market: Segmentation
Term Insurance Market, by Type
• Level Term Policy
• Renewable or Convertible
• Annual Renewable Term
• Mortgage Life Insurance
Term Insurance Market, by Buying Channel
• Direct Channel
o Direct Email
o Call Centers
o Online Company Websites
• Indirect Channel
o Agency
o Brokers
o Online Aggregators
Regional Analysis and Forecast
Further, this research study analyses market size, production, consumption and its advancement trends at global, regional, and country level for period 2016 to 2027 and covers following region in its scope:
• North America
? U.S.
? Canada
• Europe
? Germany
? U.K.
? Italy
? France
? Rest of EU
• Asia Pacific
? China
? India
? Japan
? Southeast Asia
? Rest of APAC
• Central & South America
? Brazil
? Argentina
? Rest of Central & South America
• Middle East and Africa
? UAE
? Saudi Arabia
? Rest of MEA
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