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


#244891

211pages

Timetric

$ 1950

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Synopsis

The Taiwanese personal accident and health insurance segment grew at a review-period (2009-2013) compound annual growth (CAGR) of 6.2%. The growth of the aging population, improved economic development and rising healthcare expenses supported the segment’s growth during the review period. Health insurance was the segment’s largest category, followed by personal accident and travel insurance. The personal accident and health gross written premium increased in 2013, at a review-period CAGR of 6.2%. Health insurance accounted for the largest share of the segment’s gross written premium in 2013, with 79.9%, followed by personal accident insurance with 20.12%, and travel insurance with 0.03%. By 2018, the category’s gross written premium is expected to record a projected forecast-period CAGR of 6.3%. 

Summary

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

  • The Taiwanese 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 Taiwanese personal accident and health insurance segment
  • The detailed competitive landscape in the personal accident and health insurance segment in Taiwan
  • Detailed regulatory policies of the Taiwanese insurance industry
  • Analysis of various consumer segments in Taiwanese personal accident and health insurance
  • Key developments in the Taiwanese personal accident and health insurance segment
  • New products launched by Taiwanese personal accident and health insurers 

Scope

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

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

Reasons To Buy

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

Key Highlights

  • The FSC is encouraging insurers to promote commercial long-term care insurance to provide people with more choices and to supplement social security provided by the government on long-term care. 
  • The Taiwanese personal accident and health insurance segment grew at a review-period CAGR of 6.2%, and its penetration increased from 2.3% in 2009 to 2.5% in 2013. 
  • The review-period growth of the Taiwanese personal accident and health segment was due to the growing aging population, improved economic development, and rising healthcare expenditure.
  • Taiwan has one of the best healthcare services in Asia. The country’s National Health Insurance (NHI) system – under the jurisdiction of the Ministry of Health and Welfare – is a mandatory social program which covers the entire population, and foreign nationals who meet NHI and residency requirements. 
  • In 2013, agencies overtook bancassurance to become the preferred distribution channel for personal accident and health policies. 
  • Taiwan’s personal accident and health insurance segment is highly competitive, with the presence of both domestic and foreign insurers. The segment is concentrated, with the 10 leading insurers accounting for 87.6% of the segment’s gross written premium in 2013.