Personal Accident and Health Insurance in the US, Key Trends and Opportunities to 2018


#236282

215pages

Timetric

$ 1950

In Stock

Synopsis

The report provides in-depth market analysis, information and insights into the US personal accident and health insurance segment, including:
  • The US personal accident and health insurance segment’s growth prospects by insurance category
  • Key trends and drivers for the personal accident and health insurance segment
  • The various distribution channels in the US personal accident and health insurance segment
  • The detailed competitive landscape in the personal accident and health insurance segment in the US
  • Regulatory policies of the US personal accident and health insurance segment
  • Analysis of various consumer segments in US personal accident and health insurance
  • Key developments in the US personal accident and health insurance segment
  • New products launched by US personal accident and health insurers

Executive summary

The US personal accident and health insurance segment was the second largest in the country, accounting for 35.3% of the industry’s gross written premium in 2013. The segment recorded a compound annual growth rate (CAGR) of 3.5% during the review period (2009−2013), the highest growth of all the industry’s segments. This growth can be attributed to rising per capita healthcare expenditure, a rapidly growing aging population, and growing domestic demand for healthcare products. It was further supported by the country’s insufficient public healthcare programs, including Medicare and Medicaid. Such factors, coupled with new healthcare reforms, are projected to enable the segment to record a CAGR of 2.3% over the forecast period (2013–2018).

Scope

This report provides a comprehensive analysis of the personal accident and health insurance segment in the US:
  • It provides historical values for the US personal accident and health 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 the US 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 the US.
  • 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 in-depth historic and forecast market data related to US personal accident and health insurance segment and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the US personal accident and health insurance segment.
  • Assess the competitive dynamics in the personal accident and health insurance segment.
  • Identify the growth opportunities and market dynamics in key product categories.
  • Gain insights into key regulations governing the US insurance industry and their impact on companies and the industry's future.

Key highlights

  • Personal accident and health insurance accounted for 35.3% of the industry’s gross written premium in 2013.
  • The US personal accident and health segment registered the industry’s highest review-period CAGR of 3.5% in terms of gross written premiums. 
  • The segment is highly competitive, and firms face competition from other insurance companies, health maintenance organizations (HMOs) and third-party administrators (TPAs).
  • Health insurance dominated the segment in 2013, with 97.9% of the gross written premium. 
  • Healthcare expenditure accounted for around 16.9% of the country’s GDP in 2012, higher than the OECD average of 9.3% (OECD health insurance statistics 2014).
  • The growth in the personal accident and health insurance segment can be attributed to various factors such as rising healthcare expenditure, decreasing unemployment, the growing aging population and the implementation of ObamaCare reforms. 
  • The Healthcare and Education Reconciliation Act of 2010 – an amendment of The Patient Protection and Affordable Care Act (PPACA) – came into force in January 2014. 
  • The country’s personal accident and health insurance segment is expected to grow at a CAGR of 2.3% over the forecast period.