What is Boat Insurance?
Marine insurance is another name for boat insurance. Boat insurance covers ships, freight, terminals, and any other method of transportation that transports, acquires, or holds property between origin and destination. Onshore and offshore exposed property (container terminals, ports, oil platforms, and pipelines), hull, marine casualty, and boat liability are all covered under boat insurance. When products are transported by mail or courier, shipping insurance is used instead. The advantage of boat insurance is that it ensures the company's financial security. It allows you to manage risks and do business efficiently. It covers any financial losses that occur while the items are being transported.
The market study is broken down by Type (Cargo Insurance, Hull and Machinery Insurance and Others), by Application (Ocean, Lakes and Rivers) and major geographies with country level break-up.
The market is seeing moderate market players, by seeing huge growth in this market the key leading vendors are highly focusing towards the production technologies, efficiency enhancement and product life. There is various growth opportunity in this market which is captured by leading players via tracking the ongoing process enhancement and huge invest in market growth strategies. Analysts at AMA Research estimates that Players from United States will contribute to the maximum growth of Global Boat Insurance market throughout the predicted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Zurich (Switzerland), AXA (France), AVIVA (United Kingdom), State Farm (United States), Allianz (Germany), GEICO (United States), Sompo Japan Nipponkoa (Japan), CPIC (India), Markel Corporation (United States), Kemper Corporation (United States) and Allstate (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are MetLife (United States), PingAn (China) and Westfield (Australia).
AdvanceMarketAnalytics has segmented the market of Global Boat Insurance market by Type, Application and Region.
On the basis of geography, the market of Boat Insurance has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Wholesalers will boost the Boat Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Premium, the sub-segment i.e. Small Market will boost the Boat Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Ship Owners will boost the Boat Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
In 2021, Zurich North America has announced the launch of a weather parametric insurance product. The insurance will cover weather-related construction delays not covered by traditional builders’ risk insurance policies.
- Introduction to new mobility techniques
- Rising demand of marine insurance among ship owners, cargo owners
- Rapid Growth in Incorporation of IoT
- Growing e-commerce sector
- A prevention from loading a cargo from a country’s government interference
- Changing in climate
- Regulations shifting
- Pollution legislation
Key Target AudienceBoat Insurance Manufactures, Boat Insurance Distributors and Suppliers, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
About ApproachTo evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.
Frequently Asked Questions (FAQ):
1. What all players are profiled in the study?
The standard version of the report profiles players such as Zurich (Switzerland), AXA (France), AVIVA (United Kingdom), State Farm (United States), Allianz (Germany), GEICO (United States), Sompo Japan Nipponkoa (Japan), CPIC (India), Markel Corporation (United States), Kemper Corporation (United States) and Allstate (United States) etc.
2. Can we have customized study for Boat Insurance Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.
3. What would be the Market Size of Boat Insurance Market by 2026?
Analysts at AMA estimates Boat Insurance Market to reach USD Million by 2026.