市場調查報告書
商品編碼
1615168
小額保險的全球市場的評估:各類型,各年齡層,各產品類型,供應商,各流通管道,模式,各終端用戶,各地區,機會,預測(2018年~2032年)Microinsurance Market Assessment, By Type, By Age Group, By Product Type, By Provider, By Distribution Channel, By Model, By End-user, By Region, Opportunities and Forecast, 2018-2032F |
全球小額保險市場規模預計將從 2024 年的 822 億美元增至 2032 年的 1,277.9 億美元,在 2025 年至 2032 年的預測期內複合年增長率為 5.67%。由於多方面的原因,市場正在快速成長。背後的主要因素之一是人們日益關注普惠金融,其目的是將更多弱勢群體納入金融體系。另一個推動因素是行動平台、大數據分析和人工智慧等技術進步,這些技術進步使產品更易於使用和高效。政府政策和監管支持以激勵和支持框架的形式透過提高金融包容性和提高透明度來加強市場。提高認識計劃向公眾宣傳保險的好處,從而提高保險的接受率。經濟成長,尤其是亞太地區的經濟成長,推動了市場成長。小額保險提供者與當地組織之間的合作夥伴關係擴大了覆蓋範圍,並且根據特定需求客製化產品吸引了更多客戶。此外,向低收入群體提供金融服務的需求不斷增加,市場的教育程度和認知度也不斷提高。小額保險的推動因素包括農業氣候風險覆蓋範圍的擴大、醫療費用高昂以及慢性病患者比例的增加。
小額保險是為低收入個人和家庭量身訂做的保險,以滿足他們的需求和財務限制。我們為各種風險提供負擔得起的保險費,包括健康保險、人壽保險、財產保險和農業保險。這就是為什麼小額保險對於擴大金融包容性、讓弱勢群體在面對衝擊和不可預見事件時更具復原力如此重要。 2024 年 8 月,總部位於南非的 Hollard Insurance Company 計劃重新定位其品牌。我們的新活動 "為您的不確定提供保險" 旨在揭開保險概念的神秘面紗,使其更容易獲得和積極。 Hollard 與 Tokio Marine 合作,透過 Hollard International (HINT) 全面涵蓋撒哈拉以南非洲 10 個市場。
本報告提供全球小額保險市場相關調查分析,提供市場規模與預測,市場動態,主要企業的形勢等資訊。
Global microinsurance market is projected to witness a CAGR of 5.67% during the forecast period 2025-2032, growing from USD 82.20 billion in 2024 to USD 127.79 billion in 2032. The global microinsurance market is rapidly growing due to multifaceted reasons. One big driver has been the greater focus on financial inclusion towards bringing more underprivileged populations into the financial system. Another driver is technological advancement, comprising mobile platforms, big data analytics, and artificial intelligence, which have made this product much more accessible as well as efficient. Government policies and regulatory support in the form of incentives and supportive frameworks strengthen the market by enhancing financial inclusion and promoting transparency. Increasing awareness programs enlighten the public on the benefits of insurance, which in turn increases uptake. Economic growth, especially in Asia-Pacific, drives market growth. Partnerships between microinsurance providers and local organizations improve outreach, while product customization to meet specific needs attracts more customers. In addition, there is a demand to provide more financial services to the low-income segments, where education and awareness are on the rise in markets. Microinsurance is driven by a rise in climate-risk coverage in agriculture, high healthcare expenditures, and a growing proportion of chronic disease patients.
Microinsurance is tailored insurance coverage for low-income earners and families, addressing their needs and financial limitations. It provides affordable premiums on various risks, such as health, life, property, and agriculture. That is the reason why microinsurance is so important in broadening financial inclusion and making vulnerable populations more resilient in the face of shocks or unforeseen events. In August 2024, South Africa-based Hollard Insurance Company is planning to reposition its brand. The new campaign, "Insure your unsure," attempts to demystify the idea of insurance and has been rendered more accessible and positive. Hollard continues to have comprehensive reach through Hollard International, or HINT, for ten markets in sub-Saharan Africa in association with Tokio Marine.
Widening the Access to Financial Solutions Drive Market Growth
The most significant driver for the microinsurance market's growth is efforts to widen access to financial solutions. By expanding the scope of coverage in financial services, some low-income people and families can attain coverage in insurance that was previously outside reach. Through technological improvements like mobile and digital platforms, financial services are now much more accessible and efficient. Government initiatives and facilitative regulatory structures enhance access to such an extent that financial inclusion occurs, and the vulnerable section is protected from unforeseen risks. In addition, increasing educational and awareness campaigns for the low-income group would make them aware of the microinsurance benefits and prompt them to seek these financial services.
The summary of all such efforts is broadening access to financial solutions and hence contributing to the steady growth and development of the global microinsurance market, where it ensures more people can secure their financial future and improve their quality of life. In April 2023, American International Group, a US-based insurance company, announced that it has completed its agreement with Stone Point Capital LLC, a leading private equity firm focused on investing in businesses within the global financial services industry, to form Private Client Select Insurance Services (PCS), an independent Managing General Agency (MGA) serving High Net Worth and Ultra High Net Worth markets.
Technological Advancements to Drive Market Growth
Technological advances are likely to spur growth in the microinsurance market significantly. Mobile platforms, big data analytics, and artificial intelligence are some innovations that have transformed how microinsurance is accessed and managed. Mobile technology has been helpful in reaching remote and underserved populations, enabling them to enroll, pay premiums, and file claims on their phones. Big data analytics give an insurer an understanding of their customers' needs. Big data analytics allow insurance companies to tailor product offerings and smoothen the claims processing mechanism. Artificial intelligence empowers customer service with chatbots and personalized recommendations, resulting in better customer experience.
Digital platforms also empower microinsurance product distribution without having to increase operational costs. These technological advances, therefore improving access and affordability in microinsurance, contribute to increasing trust and transparency in the insurance process. This integration of technology into microinsurance will, thus, be the reason to speed up the growth rate of the market, reaching millions of low-income households worldwide with financial protection. In November 2024, MIC Global (MIC), a New York-based embedded micro-insurance company, announced that it is partnering with VOOM Insurance, an InsurTech company, to provide reinsurance to its rideshare business. This partnership is timely and aligns perfectly with MIC's mobility book, underscoring its commitment to supporting innovative solutions for the future of mobility.
Life Insurance Segment to Dominate the Microinsurance Market
Considering several key factors, the life insurance segment will lead the microinsurance market. Life insurance provides essential financial protection for low-income families and ensures that dependents are protected in case of the death of the policyholder. It is highly attractive in regions characterized by high mortality rates and limited access to social safety nets. Life insurance products are also more transparent and less complicated than other insurance products, so they are accessible to people with low financial literacy. The increasing trend of insurers customizing life insurance products to the specific needs and affordability constraints of low-income populations also drives demand. The focus on providing financial stability and peace of mind to the policyholder's family, coupled with targeted awareness and education campaigns, has been a major drive in enhancing the uptake of life insurance in the microinsurance sector. In June 2024, Zurich Insurance Group Limited acquired a 70% stake in Kotak General Insurance as the first foreign insurer in India since the FDI rules were amended in 2021 to allow up to 74% foreign ownership. Zurich and Kotak would combine to form the top general insurance company in the country by combining the global insurance experience and scale of Zurich with the knowledge of the local market and the extensive reach of Kotak.
Asia-Pacific Dominates the Microinsurance Market
Several factors contribute to the emergence of Asia-Pacific as a dominant force in the microinsurance market. The region has a dense population and significant economic inequality, thereby creating a high potential customer base for microinsurance. Governments in the region are increasingly supportive, thus framing policies aimed at ensuring financial inclusion for lower-income and protection. Another reason is that technological, mobile, and digital platforms have become more easily accessible to remote and underserved areas. Insurers continue to form partnerships with local groups and explore innovative distribution channels through which to reach the population. Economic growth in the region furthers the microinsurance market as improving incomes allow more people to buy insurance. Awareness and education campaigns play a critical role in educating the public about the benefits of microinsurance, further driving market growth. As a result, Asia-Pacific continues to lead the way in the global microinsurance sector, providing financial security to millions of low-income families. In October 2023, Bharti AXA Life Insurance Company agreed to take on the venture partner in this regard and tied up in a binding agreement with AXA for their 49% stake in the company. This transaction will lead to ownership of a 100% stake in the company.
Future Market Scenario (2025 - 2032F)
Mobile platforms, big data analytics, and artificial intelligence are going to increase accessibility and efficiency.
More awareness about insurance benefits will result in increased adoption rates.
Increasing demand for climate-related risks microinsurance products, which is particularly significant in agriculture, will boost the market.
Increased demand for innovative microinsurance solutions, like parametric insurance, will result in more customers.
Key Players Landscape and Outlook
In the competitive landscape of the microinsurance market, dominant players maintain their position through the strategic launch of new products along with continuous innovation. Thus, they introduce new and more tailored insurance solutions that fit the specific needs of the low-income population, therefore expanding their market reach and customer base. These companies also fortify their market positions through strategic acquisitions, which allow them to integrate complementary products, expand their geographical presence, and leverage new technologies. Through constant fine-tuning of their product offerings and embracing the advancement of technology, dominant players ensure that they do not fall behind in competition. This proactive approach further strengthens their market presence while positioning them as pioneers in the field of microinsurance. In addition, these companies emphasize strong customer relationships and trust through transparent practices and reliable service. Their commitment to innovation and strategic growth initiatives underscores their leadership in the microinsurance market, driving industry advancements and contributing to the overall expansion and success of the sector.
In September 2023, Turaco Inc., Africa's tech-enabled affordable insurance company announced the acquisition of MicroEnsure Ghana from MIC Global, a pioneer in microinsurance. As a result of the deal, MicroEnsure will rebrand as Turaco Ghana, while maintaining the expertise of its current team and leadership. This acquisition aligns with Turaco's long-term vision to deliver straightforward and accessible insurance to 1 billion people.
All segments will be provided for all regions and countries covered
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.