Market Analysis on Non-Life Insurance in India, Key Trends and Opportunities to 2018 Share

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Albany, NY -- (SBWire) -- 10/20/2014 --Synopsis

The report provides in-depth market analysis, information and insights into the Indian non-life insurance segment, including:

The Indian non-life insurance segment’s growth prospects by non-life insurance category
Key trends and drivers for the non-life insurance segment
The various distribution channels in the Indian non-life insurance segment
The detailed competitive landscape of the non-life insurance segment in India
Detailed regulatory policies of the Indian insurance industry
A description of the non-life reinsurance segment in India
Porter's Five Forces analysis of the non-life insurance segment
A benchmarking section on Indian non-life insurance segment in comparison with other BRICS countries

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Executive summary

The Indian non-life insurance segment registered significant growth during the review period (2009–2013), despite the global financial crisis in 2009. The increase was primarily due to growing awareness of compulsory motor third-party liability insurance, and rising property prices in major Indian cities such as Mumbai and Bangalore. This was encouraged by rising income levels that increased demand for motor and property insurance. These factors are expected to enable the segment to record a forecast-period (2009–2018) CAGR of 11.3%.

The segment is dominated by public sector insurers, and the combined market value of all private non-life insurers is less than 50% of the total non-life insurance written premium. Public sector insurers are expected to continue to dominate the segment over the forecast period, although private non-life insurers are expected to gradually increase their market shares. Although the Indian non-life segment grew rapidly during the review period, it remains largely underpenetrated due to poor awareness of the benefits of non-life insurance, low penetration in rural areas, and a lack of an effective distribution model.

Scope

This report provides a comprehensive analysis of the non-life insurance segment in India:

It provides historical values for India’s non-life insurance segment for the report’s 2009–2013 review period, and projected figures for the 2013–2018 forecast period.
It offers a detailed analysis of the key categories in India’s non-life insurance segment, along with market forecasts until 2018.
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 non-life insurance products in India.
Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in India for the non-life insurance segment.
It provides a detailed analysis of the reinsurance segment in India and its growth prospects.
It profiles the top non-life insurance companies in India and outlines the key regulations affecting them.

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Reasons to buy

Make strategic business decisions using in-depth historic and forecast market data related to the Indian non-life insurance segment and each category within it
Understand the demand-side dynamics, key market trends and growth opportunities in the Indian non-life insurance segment
Assess the competitive dynamics in the non-life insurance segment, along with the reinsurance segment
Identify the growth opportunities and market dynamics in key product categories
Gain insights into key regulations governing the Indian insurance industry, and their impact on companies and the market's future

Key highlights

In terms of gross written premium, the non-life segment grew at a review-period CAGR of 17.0%.
Motor insurance is a prominent category in the Indian non-life segment, while engineering, marine, aviation and transit, and general liability are the other main non-life products.
Motor insurance was the largest category in terms of gross written premium, and accounted for 56.3% of the segment in 2013.
Property insurance was the second-largest category in the non-life segment and accounted for 35.2% of the segment’s gross written premium.
The rise in the smartphone users in the country has encouraged insurers to introduce mobile apps for the quick and settlement of claims and online payment of premiums.

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