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

Report Summary:

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

The revenue of the insurance industry in 2017 has increased by 21.2% to reach VND105.61 trillion. Life insurance has recorded the highest revenue of VND65.05 trillion with a growth rate close to 29%. Non-life insurance also recorded a positive growth of around 11% to reach the insurance premium values of VND40.56 trillion. The financial status of the country was also improved with the increase in total assets by 23.44%.

The insurance companies have started concentrating on the creating and aligning legal policies and remodelling the business infrastructure, along with the new product launches and service quality enhancements. The improved lifestyles of the Vietnamese people have attracted foreign insurance companies to start their operations in the local markets through mergers and acquisitions.

Most of the leading life insurance companies are now collaborating with banking and financial institutes of the country to launch new products, improve the sales and transform their distribution channels. Although the bancassurance distribution channel is not contributing much to the economy currently, it is predicted to have great future potential in increasing the insurance sales in Vietnam.

The changing demographics and customer preferences in the country are pushing the local and foreign insurance companies in invest in information technology to implement different products that can target audience based on segmentation, improve the overall infrastructure and distribution channels, and increase customer experience.

List of Companies mentioned in the report:

    • Bao Viet Tokio Marine
    • United Insurance Co. of Vietnam
    • MSIG Insurance
    • Nippon Koa
    • Sompo Japan
    • Toyota Tsusho
    • AIA Insurance
    • Generali Vietnam
    • Hong Leong Bank Vietnam
    • Manulife Vietnam
    • Prudential Vietnam

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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