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

Report Summary:

researchFOLKS’ ’‘Peru 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 Peru - Highlights of the report:

The economic and political changes in the country are strengthening the infrastructure and education system, which can improve the innovative capabilities of the insurance companies to support the lowest insurance penetration of the region when compared to other regions of Latin America.

Rimac and Pacifico are the two major non-life insurance carriers of Peru that contribute almost 58% of the total market followed by 18% of Mapfre and 16% of La Positiva. The insurance penetration of the country is beyond the region level, whereas, the premiums and underwriting are growing in double digits every year for almost a decade now.

The growing significance of life and health insurance segments among the middle-class people of the company and the constant growth of property insurance owing to the rise of mining and infrastructure industries. Insurers are mainly focusing on the middle-class group and implementing solutions that can improve the communication, distribution and simplicity.

It is evident from the market expansion that insurers who invest in digital channels, online expansion and big data will have more growth opportunities in the future. Strong online distribution channel, skilled individuals and technology-based innovative services providing dependability, efficiency and business intelligence are the growth drivers for the insurance industry in Peru in upcoming years.

List of Companies mentioned in the report:

    • Rimac
    • El Pacifico Peruano-Suiza
    • Grupo Sura
    • Interseguro
    • La Positiva Vida
    • Mapfre Vida
    • Protecta
    • Cardif
    • Ace and Rigel

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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