Personal Accident and Health Insurance in the US, Key Trends and Opportunities to 2016


#149970

193pages

Timetric

$ 1950

In Stock


Synopsis

The report provides in depth market analysis, information and insights into the US personal accident and health insurance market, including:

  • The US personal accident and health insurance markets growth prospects by personal accident and health insurance categories
  • The various distribution channels in the US personal accident and health insurance market
  • The competitive landscape in the personal accident and health insurance market
  • A description of the personal accident and health reinsurance market in the US

Summary

In terms of gross written premium, the life insurance segment was the largest segment in the overall US insurance industry during the review period, accounting for 39.8% of the total written premiums in 2011. The total written premium value of the segment decreased from US$624.0 billion in 2007 to US$606.1 billion in 2011, at a CAGR of -0.7% during the review period. The decrease was attributed to high levels of unemployment, which decreased the demand for group life insurance products and the uncertain economic environment, which resulted in a decline in gross written premiums in the term life category, at a CAGR of -6.1% during the review period. In addition, low investment returns due to low interest rates represented losses to the earnings of life insurers. According to the Federal Reserve, life and annuity insurers have been the largest investors in the capital market in the US since 1930 and they are highly exposed to bond financing and real estate investments. Consequently, the investment income of life insurers declined sharply in 2009 as a result of the collapse of the financial market and the subprime mortgage crisis. Moreover, the volatile stock market reduced demand for products, including annuity and superannuation products.

Scope

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

  • It provides historical values for the US personal accident and health insurance market for the reports 20072011 review period and forecast figures for the 20122016 forecast period 
  • It offers a detailed analysis of the key sub-segments in the US 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 the US 
  • Using Porters industry-standard Five Forces analysis, it details the competitive landscape in the US for the personal accident and health insurance business
  • It provides a detailed analysis of the reinsurance market in the US and its growth prospects
  • It profiles the top personal accident and health insurance companies in the US and outlines the key regulations affecting them

Reasons To Buy

  • Make strategic business decisions using historic and forecast market data related to the the US personal accident and health insurance market and each sector within it
  • Understand the demand-side dynamics, key market trends and growth opportunities within the the US personal accident and health insurance market
  • Assess the competitive dynamics in the personal accident and health insurance market, along with the reinsurance segment
  • Identify the growth opportunities and market dynamics within key product categories
  • Gain insights into key regulations governing the the US insurance market and its impact on companies and the market's future

Key Highlights

  • In March 2010, President Obama signed a healthcare reform bill: the Healthcare and Education Reconciliation Act of 2010, an amendment of The Patient Protection and Affordable Care Act (PPACA).
  • The government made several changes in the existing healthcare system.
  • It is likely to have positive impact on the private health insurance category, as individuals and corporates must obtain health insurance products in order to avoid penalties.
  • According to the US Census Bureau in 2010, over 49.9 million people in America do not have access to health insurance products.
  • The rapidly growing ageing population is expected to consume more private health insurance products due to end-stage renal diseases.