Personal Accident and Health Insurance in New Zealand, Key Trends and Opportunities to 2018


#214162

243pages

Timetric

$ 1950

In Stock

Synopsis

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

  • New Zealand 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 New Zealand personal accident and health insurance segment
  • The detailed competitive landscape in the personal accident and health insurance in New Zealand
  • Detailed regulatory policies of New Zealand insurance industry
  • A description of the personal accident and health insurance segment in New Zealand
  • Porter's Five Forces analysis of the personal accident and health insurance segment

Executive summary

New Zealand’s personal accident and health segment recorded a compound annual growth rate (CAGR) of 4.4% during the review period (2009–2013). The segment accounted for the second-largest proportion of the total industry’s gross written premium in 2013, with a share of 34.8%. In 2013, personal accident insurance was the largest category in the segment in terms of gross written premium, representative of a share of 58.0%, followed by health insurance with 42.0%.

Scope

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

  • It provides historical values for New Zealand’s personal accident and health insurance segment for the report’s 2009–2013 review period and forecast figures for the 2013–2018 forecast period.
  • It offers a detailed analysis of the key categiories in New Zealand’s personal accident and health 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 personal accident and health insurance products in New Zealand.
  • Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in New Zealand for the personal accident and health insurance segment.
  • It provides a detailed analysis of the reinsurance segment in New Zealand and its growth prospects.
  • It profiles the top personal accident and health insurance companies in New Zealand and outlines the key regulations affecting them.

Reasons to buy

  • Make strategic business decisions using in depth historic and forecast market data related to New Zealand personal accident and health insurance segment and each category within it
  • Understand the demand-side dynamics, key market trends and growth opportunities within New Zealand 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 New Zealand insurance industry and its impact on companies and the segment's future

Key highlights

  • According to the Central Intelligence Agency (CIA), health expenditure in New Zealand in 2010 stood at 10.1% of GDP. 
  • In 2012, the country’s population stood at 4.3 million. Sustained low fertility and mortality rates mean the population is gradually aging, with the 65-years-and-over age group being the fastest-growing group, accounting for 13.6% of the population. 
  • In order to bring the industry in line with international practices, the Insurance (Prudential Supervision) Act 2010 (IPSA) was enacted in 2010. 
  • The travel insurance category was the fastest growing in the personal accident and health segment with a review-period CAGR of 7.8%. 
  • According to the Organization for Economic Cooperation and Development (OECD) statistics, public sector spending on healthcare, as a percentage of GDP, increased to 10.3% in New Zealand in 2011.
  • Insurers’ earnings from investments are likely to be effected by the low interest-rate environment in New Zealand; rates stood at 8.94% in 2008 and decreased to 5.53% in 2013.