United States Insurance Market Analysis and Growth Report, 2018
United States Insurance Market Analysis and Growth Report, 2018

Report Summary:

researchFOLKS’ ’‘United States 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 the US - Highlights of the report:

The insurance market in the United States remains very competitive, with various multi-line and specialized insurers operating both nationally and regionally, aiming different risks through different distribution channels. By the end of 2016, there were almost 2,628 domestic non-life insurance and 769 life insurance companies operating in the US with a total premium of USD 612 billion and USD 606 billion respectively. Increased industry consolidation is expected in 2018 due to continuing insurance M&A activity in the US and abroad, which is offset by the introduction of new entrants into the market. In 2017, there were 53 non-life and 31 life M&A deals involving US and Bermuda insurers. 

Regulatory framework: insurance industry in the United States is primarily regulated by the states, not the US Federal Government, though insurers that present systemic risk may also be nominated for intensified supervision by the Federal Reserve, and insurance groups that own banks and loans are also regulated by the Federal Reserve. The NAIC (National Association of Insurance Commissioners) is a voluntary association composed of state insurance regulators for all 50 states, the District of Columbia and five US territories.

In 2017, the total gross insurance premium written reported approximately $1,345 billion and is expected to increase to $1,581 billion by 2022. US life insurance market is by far the largest in the world. Rising disposable income, demographic trends, longer life expectations are some of the key driving factors of the market growth. However, uncertain policy environment coupled with rising interest rates might hamper the growth of the market. Similarly, US non-life insurance market is also the largest and most developed in the world, supported by favorable economic and demographic trends.

List of Companies mentioned in the report:

    • MetLife, Inc.
    • Northwestern Mutual
    • Prudential Financial
    • New York Life
    • Massachusetts Mutual 
    • Lincoln Financial
    • State Farm
    • United Health Group, Inc.
    • Anthem Inc.
    • Humana Inc.
    • Allstate Corp
    • Berkshire Hathaway Inc.
    • Aetna Inc.
    • Liberty Mutual 
    • Travelers Companies Inc

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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