Valuables Insurance Market Scope
Valuable insurance is a subset of property and casualty insurance. Valuable insurance reimburses the policyholder for the monetary value of any valuable insurance that is lost for any reason, such as wills, trusts, or corporate charters, but it cannot replace this insurance. Corporations, small businesses, Jewelry and wealthy individuals frequently purchase it. Jewellery insurance covers theft, accidental loss, burglary, or damage to jewellery stored in certain fixed bank lockers. Some insurance policies cover jewellery that is worn in public as well. Typically, there is a sub-limit on the amount of jewellery to be insured.
|Unit||Value (USD Million)|
|Key Companies Profiled||Allianz (Germany), Zurich (Switzerland), Allstate (United States), Tokio Marine (Japan), Assurant (United States), Chubb (Switzerland), PICC (United Arab Emirates), Sompo Japan Nipponkoa (Japan), CPIC (China) and PingAn (China)|
Global Valuables Insurance is a fragmented market due to the presence of various players. The players are focusing on investing more in Launching New Services. These will enhance their market presence. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Valuables Insurance market throughout the predicted period.
Allianz (Germany), Zurich (Switzerland), Allstate (United States), Tokio Marine (Japan), Assurant (United States), Chubb (Switzerland), PICC (United Arab Emirates), Sompo Japan Nipponkoa (Japan), CPIC (China) and PingAn (China) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Sunshine (United States), Berkshire Hathaway (United States), Suncorp (Australia) and Others.
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
The study have segmented the market of Global Valuables Insurance market by Type (Business Valuables Insurance and Personal Valuables Insurance), by Application (Artworks, Jewelry, Real Estate, Transport and Logistics and Others) and Region with country level break-up.
On the basis of geography, the market of Valuables Insurance has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, 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). region held largest market share in the year 2021.
Market Leaders and their expansionary development strategiesOn 11th February 2022, Allianz SE announced that it has entered into Share Purchase Contractual arrangements (SPAs) to acquire 72% of European Reliance General Insurance Company SA ("European Reliance"), a leading Greek insurer with 223 million euros in gross written premiums (GWP) and a network of 110 retail offices and 5,667 agents. The transaction is in line with Allianz Group's stated strategy of expanding its franchise by leveraging its scale and expertise.
On 18th March 2021, The Zurich Group has already launched Climate Change Resilience Services, Zurich Cyber Security Services, and Supply Chain Risk Management Services, and it will continue to focus on developing new capabilities. Zurich will increase its investment in expertise, proprietary services, and external collaborations in order to provide customers with differentiated solutions and tools to help mitigate current and future risks.
Indian government has issued guidelines on hallmarking exemptions for gold jewellery and artefacts, in response to protests from industry leaders on easing gold jewellery export and trade practices.
- Rising Prevalence of Banking-as-a-Service
- Rapid Development of Automation and APIs in Banking
- Rising Business Risks Can Create Opportunities for the Valuables Insurance Market Growth
- Rising Frauds Activities in the Valuables Insurance Plans
- Strict Regulatory Guidelines on the Valuables Insurance Agents
- Growing Threat of Insurance security
Key Target AudienceNew Entrants/Investors, Analysts and Strategic Business Planners, Valuables Insurance - Providers, Valuables Insurance - Industry Association, Regulatory Bodies, Research and Development Institutes, Government Bodies, End-Users and Others
Frequently Asked Questions (FAQ):
1. What are the key segments playing vital role in Valuables Insurance Market?
The Valuables Insurance study can be customized to meet your requirements. The market size breakdown by type [Business Valuables Insurance and Personal Valuables Insurance], by end use application [Artworks, Jewelry, Real Estate, Transport and Logistics and Others].
2. How big is the Valuables Insurance Market?
The Valuables Insurance Market is gaining popularity and expected to see strong valuation by 2027.
3. What are the key driving factors for the growth of the Valuables Insurance Market?
- Increasing Demand for Valuables Insurance Due to Ease of Use for Customers
- Rise of Digital Platforms for Valuables Insurance