Lewes, DE -- (SBWIRE) -- 07/06/2016 -- Report forecast the life insurance market in Southeast Asia to grow at a CAGR of 7.71% during the period 2016-2020.

The 2007 financial crisis shattered many economies across the globe, and triggered a negative shift in customer demand, especially in the life insurance sector. The drop in income not only reduced demand for life insurance policies and products but also curtailed the market penetration of the industry. In the current market scenario, there are many product portfolios offered by the top life insurance vendors. With this scenario in place, the demand for life insurance policies is calculated on the basis of the rate at which transparent products are being provided by vendors to customers.

The report covers the present scenario and the growth prospects of the life insurance market in Southeast Asia for 2016-2020. To calculate the market size, the report considers the gross life premium value in Singapore, Indonesia, Thailand, the Philippines, Malaysia, Vietnam, and other nations. The other regions include Cambodia, Brunei, Laos, Burma, and Timor-Leste.

The market is divided into the following segments based on country:
- Singapore
- Indonesia
- Thailand
- Philippines
- Malaysia
- Vietnam

According to the report, a key growth driver is the creation of favorable environments to improve profitability. Life insurance companies are enforcing professional and disciplined underwriting practices to ensure healthy growth in the emerging markets like Southeast Asia. Such initiatives are expected to ensure that companies operate on a sustainable basis. In addition, we expect the capital management of the life insurance market to support vendors' growth and tighten solvency capital requirements during the forecast period.

Further, the report states that one challenge that could hamper market growth is the lack of financial models. Currently, life insurance companies do not use any financial models. The lack of such a system has resulted in several challenges, including inadequate underwriting practices.

Life Insurance Market in Southeast Asia 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the life insurance market in Southeast Asia: AIA Group, Manulife, and Prudential Financial.

Other Prominent Vendors in the market are: Aviva, AXA, Great Eastern Life, HSBC, NTUC Income, and Tokyo Marine.

Market driver
- Creation of favorable environments to improve profitability
- For a full, detailed list, view our report

Market challenge
- Lack of financial models
- For a full, detailed list, view our report

Market trend
- Rise in use of BPO for closed-book operations
- For a full, detailed list, view our report

Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

Spanning over 58 pages and 28 Exhibit "Life Insurance Market Southeast Asia 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Country segmentation, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Appendix.

For more information Visit at: http://www.marketresearchreports.com/technavio/life-insurance-market-southeast-asia-2016-2020

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