| Source: GlobalData Plc GlobalData Plc
London, UNITED KINGDOM
LONDON, June 22, 2022 (GLOBE NEWSWIRE) — The PA&H insurance market is expected to grow at a CAGR of more than 6% from 2020 to 2025. Telemedicine/ telehealth, mental health, and personalization trends will gain mainstream momentum over the coming years across all regions in the global personal health and accident insurance market.
The Personal Accident and Health Insurance Market Research Report offered by GlobalData Plc provides a detailed outlook of the global personal accident & health insurance industry. It provides values for key performance indicators such as written premium and loss ratio during the review period and forecast period. The report also gives a comprehensive overview of the global and regional personal accident & health insurance industry, key lines of business, key trends, drivers, challenges, regulatory overview and developments, and the impact of COVID-19 on the industry. Moreover, it provides insight into key technological developments impacting the global PA&H insurance industry.
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Personal Accident & Health Insurance Market Trends
The rise in popularity of health and wellness trends propelled wearable devices as tailored solutions into the mainstream, giving insurers access to detailed biometric and activity data from policyholders, allowing insurers to improve underwriting accuracy, prevent claims and increase customer engagement.
Technological advancements are also allowing insurers to customize requirements through which a personalized insurance proposition can be presented to enhance customers’ experience. AI, natural language processing, predictive analytics, and machine learning are a few technologies that insurers are adopting to provide hyper-personalization with behavior-based insurance products to customers.
Personal Accident & Health Insurance Market Segmentation by Region
North America dominated the global PA&H premiums in 2020 with the US leading the global market. Reduced healthcare claims and medical costs due to delayed or cancellation of many healthcare procedures offset any unprecedented rise in healthcare claims related to COVID-19 in the US.
Personal Accident & Health Insurance Market Analysis by Region
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Personal Accident & Health Insurance Market Segmentation by Lines of Business
Personal Accident & Health Insurance Market Analysis by Lines of Business
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Leading Companies in the Personal Accident & Health Insurance Market
Personal Accident & Health Insurance Market Analysis by Companies
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Personal Accident & Health Insurance Market Overview
Personal Accident & Health Insurance Market Report Scope
This report provides a comprehensive analysis of the global personal accident and health insurance industry –
Reasons to Buy
What was the personal accident & health insurance market size in 2020?
The PA&H insurance market size was valued at $1.6 trillion in 2020.
What is the personal accident & health insurance market growth rate?
The PA&H insurance market is expected to grow at a CAGR of more than 6% from 2020 to 2025.
Which are the key regions in the personal accident & health insurance market?
The key regions in the PA&H market are North America, Europe, Asia-Pacific, South & Central America, and Middle East & Africa.
What are the key lines of business in the personal accident & health insurance market?
The key segments in the PA&H insurance market are non-categorized life personal accident & health, life travel, life personal accident, life health, non-categorized general insurance personal accident & health, general insurance travel, general insurance personal accident, and general insurance health/ stand-alone health.
Which are the leading companies in the personal accident & health insurance market?
The leading PA&H insurance companies are UnitedHealth Group, Anthem Inc, Humana Group, Centene Corporation Group, HCSC Group, Ping An Insurance Company Of China Limited, CVS Health Corporation, Kaiser Foundation Group, Guidewell Mutual Holding Corporation, and Independence Health Group.
GlobalData is a leading provider of data, analytics, and insights on the world’s largest industries. In an increasingly fast-moving, complex, and uncertain world, it has never been harder for organizations and decision makers to predict and navigate the future. This is why GlobalData’s mission is to help our clients to decode the future and profit from faster, more informed decisions. As a leading information services company, thousands of clients rely on GlobalData for trusted, timely, and actionable intelligence. Our solutions are designed to provide a daily edge to professionals within corporations, financial institutions, professional services, and government agencies.
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