Personal Accident and Health Insurance in Colombia, Key Trends and Opportunities to 2017


#175671

235pages

Timetric

$ 1950

In Stock


Synopsis

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

  • The Colombian personal accident and health insurance segment’s growth prospects by insurance categories
  • Key trends and drivers for the personal accident and health insurance segment
  • The various distribution channels in the Colombian personal accident and health insurance segment
  • Detailed competitive landscape in the personal accident and health insurance segment in Colombia
  • A description of the personal accident and health reinsurance segment in Colombia
  • Porter's Five Forces Analysis of the personal accident and health insurance segment
  • Benchmarking section on the Colombian personal accident and health insurance segment in comparison to other countries in Central and Latin America

Executive summary

Rising numbers of outbound travelers, sustainable economic development, and regulatory changes had a positive impact on the overall growth of the Colombian personal accident and health insurance segment during the review period. The segment grew at a CAGR of 8.9%, to reach a value of COP1.4 trillion (US$0.8 billion) in 2012. Rising medical expenses and increased numbers of fatal road traffic accidents were other contributors to the growth. In 2013, a new healthcare bill was submitted to Colombia’s Senate Secretary to nationalize the country’s healthcare system. If approved, it is expected to generate significant business for health insurance. 

This, coupled with the projected positive economic trend, will support the growth of Colombian personal accident and health insurance over the forecast period. The segment’s written premium is projected to increase from COP1.4 trillion (US$0.8 billion) in 2012 to COP2.2 trillion (US$1.2 billion) in 2017, at a forecast-period CAGR of 9.3%.

Scope

This report provides a comprehensive analysis of the personal accident and health insurance segment in Colombia:

  • It provides historical values for Colombia's personal accident and health insurance segment for the report’s 2008–2012 review period and forecast figures for the 2012–2017 forecast period
  • It offers a detailed analysis of the key sub-segments in Colombia's personal accident and health insurance segment, along with market forecasts until 2017
  • 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 Colombia
  • Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in Colombia for the personal accident and health insurance segment
  • It provides a detailed analysis of the reinsurance segment in Colombia and its growth prospects
  • It profiles the top personal accident and health insurance companies in Colombia and outlines the key regulations affecting them

Reasons to buy

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

Key highlights

  • The segment grew at a CAGR of 8.9%, to reach a value of COP1.4 trillion (US$0.8 billion) in 2012
  • In 2013, a new healthcare bill was submitted to Colombia’s Senate Secretary to nationalize the country’s healthcare system. If approved, it is expected to generate significant business for health insurance
  • Colombia has one of the highest uninsured populations in Latin America
  • The insurance industry is regulated and governed by the Financial Superintendence of Colombia (SFC). It functions under the Ministry of Finance, with legal, administrative and financial autonomy
  • Colombia has a highly competitive personal accident and health insurance segment, which includes both domestic and foreign insurance companies