Disability Insurance Global Market Report 2023 – By Insurance Type (Employer Supplied Disability Insurance, Individual Disability Insurance, High Limit Disability Insurance, Business Overhead Expense Disability Insurance, Other Insurance Types), By Coverage Type (Short Term Disability Insurance, Long Term Disability Insurance), By End User (Government, Enterprise, Individual) – Market Size, Trends, And Global Forecast 2023-2032

Insurance is a contract under which an individual or entity receives financial protection or reimbursement/compensation for any damages from an insurance company. The main types of insurance (providers, brokers, and re-insurers) are insurance providers, insurance brokers, and agents, as well as reinsurance providers. Reinsurance providers are businesses that provide insurance to other businesses. In other words, reinsurance companies are businesses that accept insurance liabilities from other businesses. The services are provided through online and offline modes and are used by corporate and individual end-users. The global insurance (providers, brokers and re-insurers) market is segmented - 1) By Type: Insurance Providers, Insurance Brokers And Agents, Reinsurance Providers 2) By Mode: Online, Offline 3) By End User: Corporate, Individual Subsegments Covered: Life Insurance Providers, Property & Casualty Insurance Providers, Health & Medical Insurance Providers, Insurance Agencies, Insurance Brokers, Bancassurance, Other Intermediaries, Property & Casualty Reinsurance Providers, Life & Health Reinsurance Providers The global insurance market size grew from $5946.74 billion in 2022 to $6466.23 billion in 2023 at a compound annual growth rate (CAGR) of 8.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global insurance market is expected to grow to $8603.8 billion in 2027 at a CAGR of 7.4%. The global payments industry has witnessed a rapid increase in the adoption of EMV technology. This growth is driven by the higher level of data security offered by EMV chips and PIN cards as compared to traditional magnetic stripe cards. EMV is a security standard for various payment cards, including debit, credit, charge, and prepaid cards. The chip carries data for the cardholder and the account, which is protected using both hardware and software security measures. According to Thales Group, a France-based manufacturer of electrical systems, in 2020, 66.4% of all payment cards issued worldwide were EMV chip-based. According to the Thales group, in 2020, there were over 10.81 billion EMV chip cards in circulation which was up by 10% as compared to 2019, In Q2 2021, 88.55% of all chip card transaction used EMV chip technology. Major players in the insurance (providers, brokers, and re-insurers) market are UnitedHealth Group, AXA, Munich Re, Allianz, and Generali. North America was the largest region in the insurance (providers, brokers, and re-insurers) market share in 2022. Asia-Pacific was the second largest region in the global insurance (providers, brokers, and re-insurers) market. The regions covered in the global insurance (providers, brokers, and re-insurers) market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the insurance (providers, brokers, and re-insurers) market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The insurance market consists of sales of insurance products by entities that undertake underwriting (assuming the risk and assigning premiums) on annuities and insurance policies. Insurance providers invest premiums to build up a portfolio of financial assets to be used against future claims. Direct insurance providers are entities that are engaged in primary underwriting and assuming the risk of annuities and insurance policies. Reinsurance providers are businesses that assume all or part of the risk associated with an existing insurance policy or set of policies, originally underwritten by another insurance carrier (direct insurance carrier). The insurance industry is categorized on the basis of the business model of the firms present in the industry. Some insurance firms may offer other services financial or otherwise. Contributions and premiums are set on the basis of actuarial calculations of probable payouts based on risk factors from experience tables and expected investment returns on reserves. The value of the market is based on the premiums paid by those insured, both commercial and personal. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The insurance (providers, brokers, and re-insurers) research report is one of a series of new reports from The Business Research Company that provides insurance (providers, brokers, and re-insurers) statistics, including insurance (providers, brokers, and re-insurers) industry global market size, regional shares, competitors with insurance (providers, brokers, and re-insurers) share, detailed insurance (providers, brokers, and re-insurers) segmentation, market trends and opportunities, and any further data you may need to thrive in the insurance (providers, brokers, and re-insurers) industry. This insurance (providers, brokers, and re-insurers) research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.

An insurance broker is interested in selling, purchasing, or negotiating various financial products best suited to their individual client's needs in exchange for compensation. An insurance agent sells, negotiates, or promotes financial products on behalf of their employer. They serve as the company's sales representatives for its financial products. While an insurance agent works for the company they are employed by, an insurance broker represents you as the client. The main types of insurance brokers and agents are insurance agencies, insurance brokers, bancassurance, and other intermediaries. Insurance agencies refer to the agencies that act as a broker between the holder and the provider. The various insurances offered are life insurance, property and casualty insurance, and health and medical insurance. The different modes involved are online and offline modes. These are used by corporate and individual end-users. The global insurance brokers and agents market is segmented - 1) By Type: Insurance Agencies, Insurance Brokers, Bancassurance, Other Intermediaries 2) By End User: Corporate, Individual 3) By Mode: Online, Offline 4) By Insurance: Life Insurance, Property And Casualty Insurance, Health And Medical Insurance The global insurance brokers & agents market size grew from $415.14 billion in 2022 to $450 billion in 2023 at a compound annual growth rate (CAGR) of 8.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global insurance brokers & agents market is expected to grow to $597.89 billion in 2027 at a CAGR of 7.4%. Insurance brokers and agents are investing in digital technologies to offer services online and thereby increase sales and boost margins. Digitalization is the process of converting information into digital formats. This includes providing tools and resources to agents and brokers in digital formats through insurance portals, exchange websites, and digital distribution channels. These web-based portals and other digital channels are aimed at improving efficiency in business processing and reducing costs. For instance, according to an insurance digital transformation survey, 39% of agents provide web-based portals to allow customers to request policy changes, check policy information and payments, report claims, obtain insurance ID cards, and get insurance certificates, and, 78% of them are increasingly using social media to acquire new customers on Facebook and 68% on LinkedIn. Some of the major insurance companies offering insurance portals and digital distribution channels are Marsh & McLennan Cos., Inc., Willis Towers Watson P.L.C., and Aon P.L.C. Major companies in the insurance brokers and agents market include Marsh & McLennan, Chubb Limited, Toyota Motor Corp, Arthur J. Gallagher & Co., Bank of China, Hub International, Willis Towers Watson, Brown & Brown, BB&T Insurance Holdings Inc., and Jardine Matheson. Nontraditional companies such as Google, Amazon, and Walmart are entering the insurance intermediary market to capitalize on their brand image, large capital, and customer base. Their primary focus is the distribution of health, property, and casualty insurance products. In line with this trend, these companies are also entering into partnerships, joint ventures, and alliances with other established insurance carriers to offer insurance products and services to their customers. For instance, in October 2021, SBI General collaborates with Google Pay, enabling users to buy SBI General’s health insurance on the Google Pay app in a quick and hassle-free way. These collaborations have enabled new entrants to acquire market knowledge and understand the industry dynamics. North America was the largest region in the global insurance brokers & agents market size, accounting for in 2022. Western Europe was the second largest region insurance brokers & agents market. The regions covered in the global insurance brokers & agents market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the insurance brokers and agents market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The insurance brokers and agents’ market consist of sales of insurance products by entities and individuals that act as intermediaries (i.e., agents or brokers) in selling annuities and insurance policies. Insurance brokers and agents can be contracted with single or multiple insurance companies as they try to meet different client needs with available insurance products. This market excludes the direct selling of insurance products by insurance companies. The value of the market is based on the fees or commissions paid to brokers by the insured, both commercial and personal. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The insurance brokers and agents research report is one of a series of new reports from The Business Research Company that provides insurance brokers and agents with statistics, including insurance brokers and agents industry global market size, regional shares, competitors with insurance brokers and agents share, detailed insurance brokers and agents segments, market trends and opportunities, and any further data you may need to thrive in the insurance brokers and agents industry. This insurance brokers and agents' research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Insurance is a contract under which an individual or entity receives financial protection or reimbursement/compensation for any damages from an insurance company. The main types of insurance are life insurance, property and casualty insurance, and health and medical insurance. Life insurance is a type of insurance that covers a person's lifetime critical benefits package. The various modes are online and offline. The services are used by corporate and individual end-users. The global insurance market is segmented - 1) By Type: Life Insurance, Property And Casualty Insurance, Health And Medical Insurance 2) By End User: Corporate, Individual 3) By Mode: Online, Offline Subsegments Covered: Term Life Insurance, Whole Life Insurance, Variable Life Insurance, Equity Indexed Life Insurance, Accidental Death Insurance, Other Life Insurance, Automobile Insurance Carriers, Malpractice/Indemnity Insurance Carriers, Fidelity Insurance Carriers, Mortgage Guaranty Insurance Carriers, Homeowners Insurance Carriers, Surety Insurance Carriers, Liability Insurance Carriers, Hospitalization Insurance, Hospital Daily Cash Benefit Insurance, Critical Illness Insurance, Domiciliary Insurance, Other Health & Medical Insurance The global insurance market size grew from $5946.74 billion in 2022 to $6466.23 billion in 2023 at a compound annual growth rate (CAGR) of 8.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global insurance market is expected to grow to $8603.8 billion in 2027 at a CAGR of 7.4%. The rapid growth in internet penetration and the increased risks associated with internet use for critical transactions are driving the demand for cyber insurance. Cyber insurance covers internet-based risks and risks related to information technology infrastructure. It also covers property theft, business interruption, software and data loss, cyber extortion, network failure liability, cyber-crime, and physical asset damage. For instance, in 2021, according to the National Health Authority of India, an Indian government agency, there were 1.18 billion mobile connections, 600 million smartphones, and 700 million Internet users in India, which is increasing by 25 million every quarter. Therefore, the rapid growth in internet penetration and the increased risks associated with internet use drive the insurance market. Major companies in the insurance market include Allianz Group, Ping An Insurance, Axa Group, Anthem Inc., China Life Insurance, Centene, People's Insurance Company of China, Humana, Assicurazioni Generali S.p.A., and Japan Post Group. Peer-to-peer insurance is gradually gaining prominence both in emerging and developed markets, driven by the reduced cost of premiums in emerging countries resulting from improved internet penetration in those regions. Peer-to-peer insurance is based on pooling insurance premiums of participating individuals that can be used to compensate for future uncertain losses and share the left-over amount among participants. It aims to reduce premium and overhead costs compared to traditional insurance providers, decrease inefficiencies, and increase the transparency of businesses. North America was the largest region in the insurance market share in 2022. Asia-Pacific was the second largest region in the insurance market. The regions covered in the global insurance market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the insurance market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The insurance market consists of sales of insurance products by entities that undertake underwriting (assuming the risk and assigning premiums) on annuities and insurance policies. Insurance providers invest premiums to build up a portfolio of financial assets to be used against future claims. Direct insurance providers are entities that are engaged in primary underwriting and assuming the risk of annuities and insurance policies. Reinsurance providers are businesses that assume all or part of the risk associated with an existing insurance policy or set of policies, originally underwritten by another insurance carrier (direct insurance carrier). The insurance industry is categorized on the basis of the business model of the firms present in the industry. Some insurance firms may offer other services financial or otherwise. Contributions and premiums are set on the basis of actuarial calculations of probable payouts based on risk factors from experience tables and expected investment returns on reserves. The value of the market is based on the premiums paid by those insured, both commercial and personal. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The insurance research report is one of a series of new reports from The Business Research Company that provides insurance statistics, including insurance industry global market size, regional shares, competitors with insurance shares, detailed insurance segments, market trends and opportunities, and any further data you may need to thrive in the insurance industry. This insurance research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Insurance is a contract under which an individual or entity receives financial protection or reimbursement/compensation for any damages from an insurance company. Reinsurance is when several insurance firms pool their risk by buying insurance from other insurers to reduce their own overall loss in the event of a catastrophe. Insurance brokerage is the business of providing people with independent advice about what insurance is available from various companies and arranging insurance for them. The main types of insurance, reinsurance, and insurance brokerage are insurance; insurance brokers and agents; and reinsurance. Insurance refers to the life, health, or other insurance that is taken for protection in case of emergencies. The various modes involved are online and offline modes that are used by corporate and individual end-users. The global insurance, reinsurance and insurance brokerage market is segmented - 1) By Type: Insurance, Insurance Brokers And Agents, Reinsurance 2) By Mode: Online, Offline 3) By End User: Corporate, Individual Subsegments Covered: Life Insurance, Property & Casualty Insurance, Health & Medical Insurance, Insurance Agencies, Insurance Brokers, Bancassurance, Other Intermediaries, Property & Casualty Reinsurance, Life & Health Reinsurance The global insurance, reinsurance and insurance brokerage market size grew from $6936.15 billion in 2022 to $7548.38 billion in 2023 at a compound annual growth rate (CAGR) of 8.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global insurance, reinsurance and insurance brokerage market is expected to grow to $10097.08 billion in 2027 at a CAGR of 7.5%. The rapid growth in internet penetration and the increased risks associated with internet use for critical transactions are driving the demand for cyber insurance. Cyber insurance covers internet-based risks and risks related to information technology infrastructure. It also covers property theft, business interruption, software and data loss, cyber extortion, network failure liability, cyber-crime, and physical asset damage. For instance, in 2021, according to the National Health Authority of India, an Indian government agency, there were 1.18 billion mobile connections, 600 million smartphones, and 700 million Internet users in India, which is increasing by 25 million every quarter. Therefore, the rapid growth in internet penetration and the increased risks associated with internet use drive the insurance, reinsurance, and insurance brokerage markets. Major companies in the insurance, reinsurance, and insurance brokerage market include Allianz Group, Ping An Insurance, Axa Group, Anthem Inc., China Life Insurance, Centene, People's Insurance Company of China, Humana, Assicurazioni Generali S.p.A., and Japan Post Group. Peer-to-peer insurance is gradually gaining prominence both in emerging and developed markets, driven by the reduced cost of premiums in emerging countries resulting from improved internet penetration in those regions. Peer-to-peer insurance is based on pooling insurance premiums of participating individuals that can be used to compensate for future uncertain losses and share the left-over amount among participants. It aims to reduce premium and overhead costs compared to traditional insurance providers, decrease inefficiencies, and increase the transparency of businesses. North America was the largest region in the insurance, reinsurance, and insurance brokerage market share in 2022. Asia/Pacific was the second largest region in insurance, reinsurance, and insurance brokerage. The regions covered in the global insurance, reinsurance, and insurance brokerage market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the insurance, reinsurance, and insurance brokerage market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The insurance, reinsurance and insurance brokerage market consists of sales of insurance products by entities that are engaged in providing insurance and related activities such as underwriting (assuming the risk and assigning premiums) policies, insurance brokerage and reinsurance. The insurance industry is categorized on the basis of the business model of the firms present in the industry. Some insurance firms may offer other services financial or otherwise. Contributions and premiums are set on the basis of actuarial calculations of probable payouts based on risk factors from experience tables and expected investment returns on reserves. The value of the market is based on the premiums paid by those insured, both commercial and personal as well as the fees or commissions paid to brokers. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The insurance, reinsurance, and insurance brokerage research report is one of a series of new reports from The Business Research Company that provides insurance, reinsurance, and insurance brokerage statistics, including insurance, reinsurance, and insurance brokerage industry global market size, regional shares, competitors with insurance, reinsurance, and insurance brokerage shares, detailed insurance, reinsurance, and insurance brokerage segments, market trends and opportunities, and any further data you may need to thrive in the insurance, reinsurance, and insurance brokerage industry. This insurance, reinsurance, and insurance brokerage research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Reinsurance is when several insurance firms pool their risk by buying insurance from other insurers to reduce their own overall loss in the event of a catastrophe. The main types of reinsurance are property and casualty reinsurance and life and health reinsurance. Life and health reinsurance is a type of reinsurance that covers both health and life.The services are offered through online and offline modes to domestic and international organizations. Direct writing and broker are two of the distribution channels involved. The global reinsurance market is segmented - 1) By Type: Property And Casualty Reinsurance, Life And Health Reinsurance 2) By Distribution Channel: Direct Writing, Broker 3) By Mode: Online, Offline 4) By Organization Location: Domestic, International The global reinsurance market size grew from $574.27 billion in 2022 to $632.15 billion in 2023 at a compound annual growth rate (CAGR) of 10.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global reinsurance market is expected to grow to $895.4 billion in 2027 at a CAGR of 9.1%. Reinsurance providers are integrating their processes with blockchain technology to reduce costs, increase efficiency, transparency, and security associated with client data and other financial transactions. A blockchain is a distributed decentralised ledger and is a shared database (can be saved, owned, and updated at different levels), not managed by a central authority, comprising secure transactions that are authenticated and verifiable. It reduces processing time and transaction costs, improves compliance, avoids re-entries, claims leakages, and fraud, minimises time to settle losses, and ensures cryptographic security. For instance, blockchain technology could reduce the costs of reinsurance companies by more than $5 billion globally. Major companies in the reinsurance market include Munich Re, SWISS Re, Hannover Re, Talanx, SCOR SE, Berkshire Hathaway Inc., China Reinsurance (Group) Corp, Lloyd’s of London, Axa Group, Reinsurance Group of America Inc. Reinsurers across the globe are offering bundled products and services to enhance their revenues. This change is a result of diverse choices, attractive prices, and broader coverage offered by reinsurers to gain additional market share and cut costs. This approach has helped global reinsurers to close business deals at a group level, thereby reducing the need for reinsurance at different levels. For instance, reinsurance companies Generali and Allianz have adopted a bundled approach, enabling them to get better oversight of the global market and cut down on the cost of offering reinsurance services. Western Europe was the largest region in the reinsurance market share in 2022. The Asia-Pacific was the second largest region in the reinsurance market. The regions covered in the global reinsurance industry report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the reinsurance market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The reinsurance market consists of sales of reinsurance products by entities that assume all or part of the risk of existing insurance policies originally underwritten by other insurance providers (direct insurance carriers). Reinsurance providers invest premiums collected from insurance providers to build up a portfolio of financial assets to be used against future claims. The size of the market is based on the value of the premiums reinsured. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The reinsurance research report is one of a series of new reports from The Business Research Company that provides reinsurance statistics, including reinsurance industry global market size, regional shares, competitors with reinsurance shares, detailed reinsurance segments, market trends and opportunities, and any further data you may need to thrive in the reinsurance industry. This reinsurance research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Cybersecurity insurance is an insurance service that assists in reimbursing the financial losses brought on by cyber events and incidents. Organizations can obtain cybersecurity insurance as a way to help lower the financial risks involved with conducting business online. The insurance contract transfers part of the risk to the insurer in return for a monthly or quarterly payment. The main types of insurance in cybersecurity insurance are packaged and stand-alone. The packages are used in an insurance policy that protects the policyholder against losses to their own losses. Insurance that offers a number of different coverages in combination usually refers to a policy offering both general liability and property insurance. The different insurance coverages include data breaches and cyber liability, which involve several components such as solutions and services. The different organization sizes include large enterprises and small and medium enterprises (SMEs). The various end users include technology providers and insurance providers. The global cybersecurity insurance market is segmented - 1) By Insurance Type: Packaged, Stand-Alone 2) By Insurance Coverage: Data Breach, Cyber Liability 3) By Component: Solutions, Services 4) By Organization Size: Large Enterprises, Small and Medium Enterprises (SMEs) 5) By End User: Technology Provider, Insurance Provider The global cybersecurity insurance market size will grow from $11.95 billion in 2022 to $14.56 billion in 2023 at a compound annual growth rate (CAGR) of 21.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the cybersecurity insurance is expected to grow to $31.61 billion in 2027 at a CAGR of 21.4%. Rising data security breaches are the key factor driving the growth of the cybersecurity insurance market going forward. A data breach is a situation in which information is taken from a system without the owner's knowledge or consent. Weak and forged identification is one of the easiest and most frequent reasons for data breaches. Data breaches are happening more often and with greater severity than ever before. Data breaches and other cybercrimes are becoming way too common, which is resulting in companies investing in cyber insurance to help them with the cost of procuring, restoring, and recreating data. For instance, in February 2022, according to the data breach quick view in the United States, there were 2,932 data breaches recorded in 2021 compared to 2,645 in 2020, a 10% increase. Therefore, the rising number of data security breaches is driving demand for the cybersecurity insurance market growth. Major players in the cybersecurity insurance market are Allianz SE, American International Group, Aon PLC, Arthur J. Gallagher & Co., The Travelers Companies, Axa S.A., AXIS Capital Holdings Limited, Beazley Group, Chubb Limited, CNA Financial Corporation, Fairfax Financial Holdings Limited, Liberty Mutual Insurance Group, Lloyd’s of London Ltd., Lockton Companies Inc., Munich Reinsurance Company, Endurance Specialty Holdings Ltd., Zurich Insurance Group, Tokio Marine Holdings Inc., and The Hartford Financial Services Group Inc. Strategic partnerships and collaborations have emerged as the key trend gaining popularity in the cybersecurity insurance market. Major companies operating in the cybersecurity insurance sector are focused on collaborations and partnerships to strengthen their market position. For instance, in September 2020, BNP Paribas Leasing Solutions, a France-based leasing and rental solutions for professional equipment, partnered with Generali Group, an Italy-based insurance and asset management provider, to provide BNP Paribas Leasing Solutions' clients with insurance and related services solutions that will allow them to defend themselves against cyberattacks due to the rise in cyberattacks. With this deal, Generali aims to expand its target market in the SME and property and casualty insurance markets through a new distribution channel and a fully digital subscription mechanism. Furthermore, in October 2020, AXIS Capital Holdings Limited, a US-based insurance business, collaborated with Kennedys Law LLP, a UK-based law firm, to introduce a new AXIS Marine Cyber Insurance product that will provide insurance protection for the marine shipping industry against cyber exposure on board ships and on land in shipping business headquarters. In March 2021, Wipro Limited, an India-based information technology company, acquired Capco for an amount of $1.45 billion. Through this acquisition, Wipro would become one of the end-to-end global consulting, technology, and transformation service providers to the banking and financial services sector. Clients would have access to a partner who can deliver integrated, bespoke solutions to support growth and meet their transformation objectives by combining Wipro's strategic design, digital transformation, cloud, cybersecurity, IT, and operations services capabilities with Capco's domain and consulting strengths. Capco is a UK-based technology and management consultancy company that provides cybersecurity insurance, specialises in driving digital transformation in the financial services industry, and has expertise in risk management, cyber technology, and regulatory compliance to manage cyber risk. North America was the largest region in the cybersecurity insurance market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cybersecurity insurance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the cybersecurity insurance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The cybersecurity insurance market includes revenues earned by entities by providing a cybersecurity insurance analytics platform, disaster recovery and business continuity, cybersecurity solutions, cyber risk and vulnerability assessments, cybersecurity resilience, consulting and advisory services, and security awareness training. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organisations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the chain or as part of other products. The cybersecurity insurance market research report is one of a series of new reports from The Business Research Company that provides cybersecurity insurance market statistics, including cybersecurity insurance industry global market size, regional shares, competitors with a cybersecurity insurance market share, detailed cybersecurity insurance market segments, market trends and opportunities, and any further data you may need to thrive in the cybersecurity insurance industry. This anomaly detection market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Business-to-business-to-consumer (B2B2C) insurance applies to the sale of life and general insurance products and services through non-insurance mediators other than traditional insurance intermediaries such as brokers, independent financial advisors, and agents. It also includes the direct sale of insurance to consumers. The B2B2C insurance is engaged in providing both life insurance and general insurance services. The main types of B2B2C insurance are life insurance and non-life insurance. Life insurance is an agreement between the insurer and the insurance company in which the insurance firm pays a certain sum to the covered individual's family in the event of death. The different channels of distribution include online, and offline and are implemented in various sectors such as bank and financial institutions, automotive, utilities, retailers, telecom, and others. The global b2b2c insurance market is segmented - 1) By Type: Life Insurance, Non-Life Insurance 2) By Distribution Channel: Online, Offline 3) By End Use Industry: Bank And Financial Institutions, Automotive, Utilities, Retailers, Telecom, Other End Use Industries The global B2B2C insurance market size will grow from $3.62 billion in 2022 to $3.93 billion in 2023 at a compound annual growth rate (CAGR) of 8.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global B2B2C insurance is expected to grow to $5.35 billion in 2027 at a CAGR of 8.0%. The expansion of the automobile industry is expected to propel the growth of the B2B2C insurance market in the coming years. The automotive industry is made up of a diverse group of businesses and organizations that are involved in the design, development, production, marketing, and sale of automobiles. B2B2C insurance protects the policyholder's belongings and assets, such as automobiles, from financial losses and damage. Car insurance is similar to a long-term contract that covers the price of various damages that may arise as a result of unanticipated events. According to the Economist Intelligence Unit (The EIU), in 2021, the global automotive sector is expected to grow by double digits, with new car sales increasing by 15% and commercial vehicle sales increasing by 16%. Electric vehicle sales are expected to increase from 2.5 million in 2020 to 3.4 million in 2021. Therefore, the growth in the automobile industry drives the growth of the B2B2C insurance market. Major players in the B2B2C insurance market are AXA, Allianz, Assicurazioni Generali, Zurich Insurance, Prudential, China Life Insurance, UnitedHealth Group, Munich Re Group, Japan Post Holding, BNP Paribas Cardif, Bsurance, Porto Seguro, Swiss Re, and The Digital Insurer. The launch of innovative programs to expand the insurance industry is shaping the B2B2C insurance market. Major companies operating in the B2B2C insurance sector are focusing on launching innovative programs to create solutions by leveraging new-age technologies. For instance, In August 2022, FairPlay, a California-based Fairness-as-a-Service company, launched Input Intelligence. Input Intelligence is a tool for insurance companies to detect bias. This tool assists insurance companies in checking their data for bias and ensuring that it does not represent protected characteristics like race or gender as a proxy. In April 2021, Porch Group, a US-based home services platform has, acquired Homeowner of America (HOA) for a deal amount of $100 million. Through this acquisition, Porch Group expects to become one of the largest insurance firms by combining its access to homebuyers and property data with Homeowners of America’s experience in pricing and claims. The homeowner of America (HOA) is a US-based insurance company that works on a business-to-business-to-consumer (B2B2C) revenue model. Asia-Pacific was the largest region in the B2B2C insurance market in 2022. The regions covered in the global B2B2C insurance market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the B2B2C insurance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The B2B2C insurance market includes revenues earned by entities by vehicle insurance, home insurance, personal insurance, travel insurance, mobile insurance & warranty extension, employee assistance programs. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The B2B2C insurance market research report is one of a series of new reports from The Business Research Company that provides B2B2C insurance market statistics, including B2B2C insurance industry global market size, regional shares, competitors with a B2B2C insurance market share, detailed B2B2C insurance market segments, market trends and opportunities, and any further data you may need to thrive in the B2B2C insurance industry. This B2B2C insurance market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The banking, financial services, and insurance (BFSI) security provides long-term visibility of finances with both cyber security and physical security of banking and financial institutions. Antivirus, access control, encryption, firewalls, video surveillance, identity and access management, risk and compliance management, fire detection, and intrusion detection are some of the most commonly used security services. The banking, financial services, and insurance (BFSI) security is used in securing financial data in financial institutions. The main types of banking, financial services, and insurance security are physical security and virtual security. Physical security is used to protect people, technology, networks, and data from physical acts and occurrences that could seriously harm an organization, agency, or institution. Access control, surveillance, and testing make up the three key parts of the physical security system. How successfully each of these elements is implemented, enhanced, and maintained frequently has an impact on how effective a physical security program is for an organization. The different information security offerings include solutions and services that are used by banks, insurance companies, and other end users. The global banking financial services and insurance bfsi security market is segmented - 1) By Type: Physical Security, Virtual Security 2) By Information Security Offering: Solution, Service 3) By End User: Banks, Insurance Companies, Other End Users The global banking financial services and insurance bfsi security market size will grow from $53.23 billion in 2022 to $59.79 billion in 2023 at a compound annual growth rate (CAGR) of 12.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global banking financial services and insurance bfsi security is expected to grow to $90.93 billion in 2027 at a CAGR of 11.1%. The increasing prevalence of cyberattacks is expected to propel the growth of banking financial services and insurance bfsi security market going forward. Cyberattacks refer to the attempt by an individual or organization to steal, breach, or expose information through unauthorized access to the system of an organization. Efficient security systems are required in the BFSI sector to mitigate business risks and prevent the substantial financial losses caused by cyberattacks. For instance, according to the Indian Computer Emergency Response Team (CERT-In), an office within the Ministry of Electronics and Information Technology of the Government of India, a total number of 2.46 lakh and 2.90 lakh cyber security incidents related to digital banking were reported during 2019 and 2020, respectively. Therefore, the increasing prevalence of cyberattacks in banking, financial services, and insurance (BFSI) security will drive the growth of the banking financial services and insurance bfsi security market. Major players in the banking financial services and insurance bfsi security market are International Business Machines Corp, Honeywell International Inc., Cisco Systems Inc., McAfee LLC, Booz Allen Hamilton Inc., DXC Technology Company, Dell Technologies Inc., Sophos Group PLC., Broadcom Inc., Microsoft Corporation, Trend Micro Incorporated, Symantec Corporation, EMC Corporation, Bosch Security and Safety Systems, Axis Communications AB, and Computer Sciences Corporation. Technological advancement is a key trend gaining popularity in the banking financial services and insurance bfsi security market. Major companies operating in the banking financial services and insurance bfsi security market are adopting new technological solutions to sustain their position. For example, in July 2021, Tata Communications Limited, an India-based telecommunications company, launched IZOTM Financial Cloud, a customized community cloud platform designed to adhere to the strict data privacy, protection compliance, and security standards established by Indian regulators for the banking financial services and insurance bfsi security industry. This platform helps create an open financial environment that gives BFSI and FinTechs the groundwork to support cutting-edge digital services. In April 2020, Accenture plc, an Ireland-based professional services company, acquired Broadcom’s Symantec cyber security services business for an undisclosed amount. Through this acquisition, Accenture aimed to be a leading provider of managed security services and to boost its ability to anticipate, detect and respond to cyber threats. Broadcom Inc., is a US-based infrastructure software product company that provides BFSI security solutions. North America was the largest region in the banking financial services and insurance bfsi security market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the banking financial services and insurance bfsi security market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the banking financial services and insurance bfsi security market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The banking financial services and insurance bfsi security market includes revenues earned by entities by physical security, access control, intrusion, fire detection, identity and access management, and risk and compliance management. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The banking financial services and insurance bfsi security market research report is one of a series of new reports from The Business Research Company that provides banking financial services and insurance bfsi security market statistics, including banking financial services and insurance bfsi security market share, detailed banking financial services and insurance bfsi security market, market trends and opportunities, and any further data you may need to thrive in the banking financial services and insurance bfsi security industry. This anomaly detection market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.