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"Personal Accident and Health Insurance in Vietnam, Key Trends and Opportunities to 2016" - New Market Report

New Financial Services research report from Timetric is now available from Fast Market Research

 
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Boston, MA -- (SBWIRE) -- 01/28/2013 -- Dominated by Dong Bao Viet with a market share of 43.3% in 2010, and backed by rising medical expenditure and levels of disposable income, the segment's growth is expected to be sustained by the poor state of Vietnam's healthcare system, which is leading people to opt for private facilities and invest in insurance products. In 2011, 55.7% of the overall personal accident and health insurance written premium was generated by the agencies channel. This channel benefits insurance companies as it allows geographical expansion without the associated costs of opening branches in new locations. Mandatory health insurance was the key growth driver for the segment during the review period and the government is working on a universal healthcare system which will cover all Vietnamese people. This new system will ensure that even citizens with private healthcare plans will be covered and will drive the segment over the forecast period.

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Key Highlights

- In 2011, 55.7% of the overall personal accident and health insurance written premium was generated by the agencies channel.
- The direct marketing channel accounted for a market share of 21.8% in 2011. This channel is attractive to insurance companies as it negates the effects of having to pay large amounts of commission to a myriad of channels, such as agents and brokers.
- Vietnam is one of the fastest-growing emerging economies in Southeast Asia, and over the forecast period its economy is expected to grow at a faster rate than both India and China.
- Healthcare expenditure in Vietnam increased at a CAGR of 21.7% during the review period, with changing lifestyle demographics increasing consumer expenditure on healthcare.

Scope

This report provides a comprehensive analysis of the personal accident and health insurance market in Vietnam:

- It provides historical values for Vietnam's personal accident and health insurance market for the report's 2007-2011 review period and forecast figures for the 2012-2016 forecast period
- It offers a detailed analysis of the key sub-segments in Vietnam's personal accident and health insurance market, along with market forecasts until 2016
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
- It analyses the various distribution channels for personal accident and health insurance products in Vietnam
- Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Vietnam for the personal accident and health insurance business
- It provides a detailed analysis of the reinsurance market in Vietnam and its growth prospects
- It profiles the top personal accident and health insurance companies in Vietnam and outlines the key regulations affecting them

Companies Mentioned in this Report: BaoMinh Insurance Corporation, PVI Insurance Corporation, Petrolimex Joint-Stock Insurance Company, Agriculture Bank Insurance Joint Stock Corporation

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