What is Unemployment Insurance?
Unemployment insurance offers benefits in case of job loss for no apparent fault of insurance receivers. It provides income to the unemployed person for a limited time period and job search opportunity. According to the scheme 50% of the income is provided to the person with the certain criteria like the person must not be self-employed or voluntary unemployed.
The market study is broken down and major geographies with country level break-up.
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market in the near future. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking upon mergers and acquisitions in order to maintain their presence in the market. Analysts at AMA Research estimates that Players from Indian will contribute to the maximum growth of Global Unemployment 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.
Paisabazaar.com (India), ICICI Lombard (India), Royal Sundaram (India), HDFC Ergo (India), Great American Insurance Group (United States), Protective Life (United States) and Allied Solutions (United States) are some of the key players that are part of study coverage.
AdvanceMarketAnalytics has segmented the market of Global Unemployment Insurance market by Type, Application and Region.
On the basis of geography, the market of Unemployment 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, the sub-segment i.e. Online will boost the Unemployment Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Insurance Type, the sub-segment i.e. Involuntary Unemployment Insurance will boost the Unemployment Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing Use of Digital Mediums to Gain Insights and Avail Financial Services
- Increasing Government Initiatives to Protect Employed Individuals Against the Risk of Job Loss
- Increasing Unemployment Ratio Worldwide Due to the Outburst of Coronavirus Pandemic
- Increased Need of Well-functioning Unemployment Insurance Schemes in Emerging Economies Due to High Levels of Out-Of-Work Poverty and Structural Gaps in Credit and Insurance Markets
- High Premium Associated With Unemployment Insurance and Less Return
- Lack of Awareness among People in Developing and Underdeveloped Countries
- Availability of Alternatives That Also Provide Training Benefits
Key Target AudienceNew Entrants/Investors, Analysts and Strategic Business Planners, Unemployment Insurance Providers, Reinsurance Service Providers and Insurance Brokers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-users 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 Paisabazaar.com (India), ICICI Lombard (India), Royal Sundaram (India), HDFC Ergo (India), Great American Insurance Group (United States), Protective Life (United States) and Allied Solutions (United States) etc.
2. Can we have customized study for Unemployment 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 Unemployment Insurance Market by 2026?
Analysts at AMA estimates Unemployment Insurance Market to reach USD Million by 2026.