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


#242360

146pages

Timetric

$ 1950

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

  • The Vietnamese personal accident and health insurance segment’s growth prospects by insurance category
  • Key trends, drivers and challenges for the personal accident and health insurance segment
  • The various distribution channels in the Vietnamese personal accident and health insurance segment
  • The detailed competitive landscape in the personal accident and health insurance segment in Vietnam
  • Detailed regulatory policies of the Vietnamese insurance industry
  • Analysis of various consumer segments in Vietnamese personal accident and health insurance
  • Key developments in the Vietnamese personal accident and health insurance segment
  • New products launched by Vietnamese personal accident and health insurers

Executive summary

The personal accident and health insurance segment was the fastest-growing in terms of gross written premium, in the Vietnamese insurance industry during the review period (2009–2013). Initiatives such as the government’s implementation of a universal healthcare system, insurers’ expansion of distribution channels by insurers and the rising participation of foreign healthcare and insurance providers have increased demand for personal accident and health insurance products during the review period. As such, the segment grew at a compound annual growth rate (CAGR) of 27.0% during this time. These factors are expected to support the segment even over the forecast period. The segment is consequently projected to rise at a forecast-period (2013–2018) CAGR of 13.2%, to value VND9.5 trillion (US393.9 million) by 2018.


Scope

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

  • It provides historical values for the Vietnamese 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 Vietnamese 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 Vietnam.
  • It profiles the top personal accident and health insurance companies in Vietnam and outlines the key regulations affecting them.

Reasons to buy

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

Key highlights

  • The personal accident and health insurance segment was the fastest-growing in terms of gross written premium, in the Vietnamese insurance industry during the review period.
  • Initiatives such as the government’s implementation of a universal healthcare system, insurers’ expansion of distribution channels by insurers and the rising participation of foreign healthcare and insurance providers have increased demand for personal accident and health insurance products during the review period. 
  • A large portion of the population suffers from various chronic diseases, such as heart disease, diabetes and cancer, which are all frequent among the Vietnamese population. 
  • The Vietnamese government’s contribution to the healthcare sector remained low. 
  • Foreign participants such as the Singapore-based investment and development firm Chandler Corporation, the Vancouver-based healthcare developer Triple Eye Infrastructure Corporation and the Philippines-based pharmaceutical firm United Lab entered the Vietnamese healthcare service sector during 2012–2013. 
  • Vietnamese insurers such as Dai-ichi Life and Generali Vietnam launched new health insurance products to cover their customers against financial losses caused due to non-communicable diseases.