Austria Insurance Market Analysis and Growth Report, 2018
Austria Insurance Market Analysis and Growth Report, 2018

Report Summary:

researchFOLKS’ ’‘Austria Insurance Market Analysis” report offers a retrospective analysis of trends and events occurred in the industry in the recent few years with forward looking statements and also a comprehensive view on the impact of growing customer data volume and technology adoption in the industry. The report also provides accurately validated market statistics of both life and non-life segments along with the future projections till 2022. 

Technology, connectivity and internet usage has revolutionized the industry and offering huge growth opportunities for the insurers, which is encouraging them to pursue innovation with data and technology providers in order to improve their capabilities and product offerings. However, this has created evolving risks from cyber threats. In our report, we pinpoint how the insurers are responding to changing technology landscape and addressing cyber related issues in greater detail.

Our report also touches on various innovative distribution channels adopted by insurers, market growth drivers, emerging technologies in the market and industry benchmarking with other peer countries and their relative market positioning for both life and non-life business segments. In addition, the report also touches on regulatory framework, and broader implications of regulatory policy changes on insurance market.

Insurance Market in Austria - Highlights of the report:

Increase in gross premiums written in the insurance industry of Austria in 2018 by 0.21% to reach close to EUR 5.23 billion, with the non-life insurance premium volume of EUR 3.13 billion or 59.79 %, the life insurance with EUR 1.54 billion or 29.36 % and the health insurance with EUR 568 million or 10.85 %. The traditional life insurance has declined by 8.35% while the unit-linked and index-linked insurance grew by 5.19%.

The Austrian Financial Market Authority (FMA) governs and regulated the insurance industry of the country. The FMA controls all the insurance bodies of Austria containing the list of insurance undertakings that includes all the permitted insurance companies operating in the country. Insurance density and amount invested in the insurance contracts are two principal factors that define the increasing or decreasing rate of the insurance market in Austria.

Digitalization in products and service in the insurance industry is increasing the customer experience and managing the distribution channels. InsurTech with the use of mobile digital communication platforms and internet recommendation systems improve the reach of insurance to the customers. Data and analytics, helping the insurers to identify the customer requirements and offer novel solutions in Austria.

List of Companies mentioned in the report:

    • Vienna Insurance Group
    • Wüstenrot Versicherungs
    • Merkur Versicherung
    • Grazer Wechselseitige Versicherung
    • Helvetia Versicherungen
    • Uniqa Group
    • Allianz Elementar Versicherungs
    • Zürich Versicherung
    • Ergo Versicherung
    • Generali Versicherung

Scope of the report:

    • The overview of insurance industry market and comprehensive analysis of the market drivers
    • It provides conventional and contemporary information about insurance market and predictions till 2022
    • It details the emerging technologies and various distribution channels adopted by insurers to improve the customer base and their economic, regional and business impact on the overall industry
    • Opportunities presented by Insurtech startups to the insurers, investment in Insurtech companies and key trends to watch in Insurtech market
    • Detailed information about existing market leaders, their strategies and government policies driving insurance market

Key Questions answered by the report:

    • What is the penetration rate of life and non-life insurance business segments; and the futuristic overview?
    • Who are the leading insurers in the market and what strategies they are adopting to maintain leadership positions?
    • What are the growth opportunities provided by the alternative distribution channels to the insurance market?
    • How are the emerging technologies and new product launches affecting the local insurers of the country?

Reasons to purchase this report:

    • Enhance the decision-making with the comprehensive information about trends, conventional statistics, and forecast for next five years
    • Understand the competitive landscape in the insurance industry and their marketing strategies
    • Unfold hidden growth opportunities with the use of data about emerging transitions in the market and customer transactional behaviors
    • Broaden the insight about regulatory policies and frameworks that impact insurance industry market
Table of Contents:

1. Definitions

2. Research Methodology

2.1 Research Process

2.1.1 Market Sizing

2.1.2 Competitor Analysis

2.1.3 Market Forecasting

2.1.4 Quality Control Process

3. Executive Summary

4. Industry Benchmarking with Peer Countries

5. Market Attractiveness

6. Regulatory Framework

7. SWOT Analysis

8. Porter’s Five Forces Analysis

9. InsurTech Landscape

10. Industry Enablers/Growth Drivers

11. Market analysis by business segment

12. Market Analysis by Distribution Channels

13. Key Industry Developments

14. Industry Outlook

15. Key Operators in the Market – Company Profiles

16. Appendix

16.1 Industry Stats


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