What is Personal Accident Insurance Market Scope?
Personal accident insurance is a policy that can reimburse your medical costs, provide compensation in case of disability or death caused by accidents. A Personal Accident Insurance Policy covers the loss of life, limb, or general disablement caused due to an accident while traveling. A Personal Accident Insurance cover is a must-have policy for people who frequently travel for work. it has various benefits such as Provides financial security to your family and loved ones., There no external tests and documents needed over and above the current condition, Extensive coverage at many affordable rates., Plans available in two categories, self and family and It offers worldwide coverage.
The Personal Accident Insurance market study is being classified by Type (Personal Accident Insurance [Personal Injury Claims, Road Traffic Accidents, Work Accidents, Others] and Health Insurance), by Application (Personal Use and Enterprise Use) 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 predicts that Players from United States will contribute to the maximum growth of Global Personal Accident Insurance market throughout the predicted period.
AIG(United States), Allianz (Germany), AXA (France), Aegon (India), Zurich (Switzerland), Allstate (United States), Liberty Mutual (United States), PICC (China), Ping An Insurance (China), China Pacific Insurance (China) and Geico (United States) are some of the key players profiled in the study.
Analyst at AMA have segmented the market study of Global Personal Accident Insurance market by Type, Application and Region.
On the basis of geography, the market of Personal Accident 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). North America region held largest market share in the year 2019. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Influencing Market Trend
- Upsurging demand from the enterprise use
- Rising awareness regarding the Personal Accident Insurance
- Increasing Number of road accidents across the world
- Growing demand for Group accident insurance
- The potential market in the untapped regions
- Rising awareness from emerging and developing countries
- Strict regulation and longer time for claim reimbursement
Key Target AudienceGovernment Regulatory Bodies, Private Research Organization, Government Research Organization and Others
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