Home Insurance, also known as homeowner's insurance is done to prevent home and family from unexpected events. Depending up the on coverage policy, the insurance may cover additional features such as coverage from natural disaster, bodily damaged protection, covers advertising liability and others.This growth is primarily driven by Increasing Cases of Property Damage and Growing Use of Risk Management Tools.
Globally, a noticeable market trend is evident Increasing Adoption of Predictive Modelling Strategy and Data Analytics
. Major Players, such as State Farm Mutual Automobile Insurance [United States], Allstate Corp. [United States], Liberty Mutual [United States], Farmers Insurance Group of manufacturer [United States], USAA Insurance Group [United States], Travelers manufacturer Inc. [United States], Nationwide Mutual Group [United States], American Family Insurance Group [United States], Chubb Corp. [United States] and Erie Insurance Group [United States] etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
- Increasing Cases of Property Damage
- Growing Use of Risk Management Tools
- Increasing Adoption of Predictive Modelling Strategy and Data Analytics
- Customers Inclination Towards Customized Insurance Policy
- Unfavorable Insurance Policies
- Lack of Infrastructural Developments and Investment in Emerging Countries
Government Initiatives to Promote Home Insurance and Rising Disposable Income in Emerging Countries
Issue Associated with Quick Claim Help and Hidden Terms & Conditions and Consumers Unawareness about Policies
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