Property And Casualty Insurance Providers Global Market Report 2018

Starting Price : $ 4000.00 | Pages : 125 | Published : February 2018 | SKU CODE : 3498 | Format :

Property & casualty insurance providers are engaged in direct underwriting insurance policies that protect policy holders against future uncertain losses that may occur as a result of property damage or contingent liability. This market includes direct insurance providers which underwrite polices for protection against events such as natural calamities, burglary, fire accidents, riots and terrorism related incidents. Clients of these insurance providers are the general public/companies who buy property and casualty insurance policies, it can be either through intermediary or direct selling.

The global property & casualty insurance providers market was valued at $1207.3 billion in 2017. Asia Pacific was the largest geographic region accounting for $407.8 billion or 33.7% of the global market. The USA was the largest country accounting for $336.7 billion or 27.8% of the global property & casualty insurance providers market.

Global insurers are using big data analytics to enhance their performance. Big data is being used in claim management, pricing, underwriting and risk selection among others.  This growth is mainly driven by increasing points of contact including social media, which provides a bulk of data that can be transformed into insights and leveraged by insurers to efficiently execute the settlement process. Big data consists of high-volume, high-variety and high-velocity information, and benefits insurers in multiple ways such as faster identification and reporting of events, automatic claim assessment and calculation of loss reserves. According to a recent survey by Wills Towers Watson, more than 40% of property & casualty insurance firms are already using big data and is expected to increase to 80% in the next two years.

The companies covered are Allstate, American International Group, Berkshire Hathaway, Liberty Mutual, and Travelers Companies Inc..

The countries covered are USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world.

The property & casualty insurance providers market is segmented into Automobile Insurance Carriers, Malpractice/Indemnity Insurance Carriers, Fidelity Insurance Carriers, Mortgage Guaranty Insurance Carriers, Homeowners Insurance Carriers, Surety Insurance Carriers, and Liability Insurance Carriers.

Automobile Insurance Carriers are engaged in direct underwriting insurance policies that protect policy holders against future uncertain losses that may occur as a result of automobile damage or contingent liability.

Malpractice/Indemnity Insurance Carriers are engaged in direct underwriting insurance policies that protect policy holders against future uncertain losses that may occur as a result of malpractice or property damage or contingent liability.

Fidelity Insurance Carriers are engaged in direct underwriting insurance policies that protect policy holders against future uncertain losses that may occur as a result of quality of faithfulness or loyalty or contingent liability.

Mortgage Guarantee Insurance Carriers are engaged in direct underwriting insurance policies that protect policy holders against future uncertain losses that may occur as a result of credit losses in the event of a default by the borrower or contingent liability.

Homeowners Insurance Carriers are engaged in direct underwriting insurance policies that protect policy holders against future uncertain losses that may occur as a result of losses occurring to one's home, its contents, loss of use (additional living expenses), or loss of other personal possessions of the homeowner, as well as liability insurance for accidents that may happen at the home or at the hands of the homeowner within the policy territory or contingent liability.

Surety Insurance Carriers are engaged in direct underwriting insurance policies that protect policy holders against future uncertain losses that may occur as a result of forfeiting the surety bond or contingent liability.

Liability Insurance Carriers are engaged in direct underwriting insurance policies that protect policy holders against future uncertain losses that may occur from the risks of liabilities imposed by lawsuits and similar claims.

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