Industry Background:
Freight insurance is a common coverage in marine insurance, purchased by the owners of transporting vessels. It helps to maintain calm and be confident about delivery. Freight insurance can be ordered from the shipping company or third-party insurers. Freight insurance offers comfort for the shipper and lets you receive a refund faster.This growth is primarily driven by Increasing Demand and Awareness about Freight Insurance among Ship Owners, and Cargo Owners and Rapid Growth in Incorporation of IoT, which Helps in Risk Monitoring, Facilitates Loss Prediction & Prevention.
Attributes | Details |
---|
Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Million) |
Key Companies in Study | Lloyd's of London (United Kingdom), RSA Insurance Group (United Kingdom), Lonham (United Kingdom), Aviva (United Kingdom), National Insurance Company (India), KASE Insurance (Canada), Integro Group (United States), Liberty Insurance Limited (Singapore), Chubb (United States) and AGCS (Germany) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Globally, a noticeable market trend is evident Growing Population across the Globe
. Major Players, such as Lloyd's of London (United Kingdom), RSA Insurance Group (United Kingdom), Lonham (United Kingdom), Aviva (United Kingdom), National Insurance Company (India), KASE Insurance (Canada), Integro Group (United States), Liberty Insurance Limited (Singapore), Chubb (United States) and AGCS (Germany) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
On 1th April 2021, Aon has launched a solution in a bid to offer cargo insurance coverage aimed at effective distribution of COVID-19 vaccines globally. The solution will make use of sensor data and analytics leading to enhanced supply chain protection, risk management and claims support activities.
Market Drivers
- Increasing Demand and Awareness about Freight Insurance among Ship Owners, and Cargo Owners
- Rapid Growth in Incorporation of IoT, which Helps in Risk Monitoring, Facilitates Loss Prediction & Prevention
Market Trend
- Growing Population across the Globe
- Surging Need for Financial Investments in the Freight Sector
Restraints
- Rising Frauds Activities in the Insurance Plans
Opportunities
Rising Demand for Marine Insurance owing to its Coverage against a Wide Range of Risk Measures can create Opportunities for the Freight Insurance Market Growth
Challenges
Strict Regulatory Guidelines on the Freight Insurance Agents
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Freight insurance Study Sheds Light on
The Freight insurance Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Freight insurance industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Freight insurance industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.
Frequently Asked Questions (FAQ):
1. What are the years considered in the Freight insurance Market?Historical year: 2017-2021; Base year: 2021; Forecast period: 2022 to 2027
2. Who are the key players profiled in the Freight insurance Market?Companies that are profiled in Global Freight insurance Market are Lloyd's of London (United Kingdom), RSA Insurance Group (United Kingdom), Lonham (United Kingdom), Aviva (United Kingdom), National Insurance Company (India), KASE Insurance (Canada), Integro Group (United States), Liberty Insurance Limited (Singapore), Chubb (United States) and AGCS (Germany) etc.
3. What is Freight insurance Market?Freight insurance is a common coverage in marine insurance, purchased by the owners of transporting vessels. It helps to maintain calm and be confident about delivery. Freight insurance can be ordered from the shipping company or third-party insurers. Freight insurance offers comfort for the shipper and lets you receive a refund faster.