Individual Health Insurance Market Scope
The individual health insurance plan offers benefits to the individuals its doesn't cover family members. Among the employers, individual health insurance is becoming much popular due to its low cost and availability of discounts on the premium. The individual health insurance plan comes with great flexibility as users can change policy coverage according to their requirements and also allows controls over co-pays and deductibles. Increasing health expenses and outburst of coronavirus around the world has created significant opportunities for the individual health insurance market. Another reason for buying individual health insurance is that it offers the maximum sum insured to the policyholder compared to the group insurance.
The Individual Health Insurance market study is segmented and major geographies with country level break-up.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Individual Health Insurance market throughout the predicted period.
HDFC Ergo (India), Niva Bupa (India), Kotak General Insurance (India), IFFCO-Tokio (India), Bharti AXA Life (India), Zurich Insurance Group (Switzerland), Munich Re (Germany), Aetna Inc. (United States), Anthem (United States), Cigna (United States), Blue Shield of California (United States), Humana Inc. (United States), Kaiser Permanente (United States), PingAn Insurance (China) and Aon plc (United Kingdom) are some of the key players that are part of study coverage.
About Approach
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.
Segmentation Overview
AMA Research has segmented the market of Global Individual Health Insurance market by Type, Application and Region.
On the basis of geography, the market of Individual Health 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).
Market Trend
- The Inclination Towards the Digital Platforms to Gain Insights and Buy Insurance
Market Drivers
- Surging Demand of Individual Health Insurance in SMEs for Their Employees Due to Low Premiums Compared to Group
- Growing Popularity of Individual Health Insurance As It Holder Can Avail High Sum Insured
Opportunities
- Portability, Availability of Discounts on Premiums, and Better Control on Deductibles and Limits
Restraints
- Lower Level of Customer Support and No Coverage or Extra Fees for Pre-Existing Conditions
Challenges
- Unable to Claim During the 30 Days of Commencement and Long Waiting Periods for Specific Diseases and Surgical Procedures
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Individual Health Insurance Providers, Reinsurance Service Providers and Insurance Brokers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-Users and Others