Insurance (Providers, Brokers and Re-Insurers) Market Report 2022: Rapid Increase in the Adoption of EMV Technology Drives Growth

Dublin, Sept. 30, 2022 (GLOBE NEWSWIRE) -- The "Insurance (Providers, Brokers and Re-Insurers" report has been added to ResearchAndMarkets.com's offering.

The global insurance (providers, brokers and re-insurers) market is expected to grow from $6,008.64 billion in 2021 to $6,440.96 billion in 2022 at a compound annual growth rate (CAGR) of 7.2%. The market is expected to grow to $8,036.89 billion in 2026 at a compound annual growth rate (CAGR) of 5.7%.

The insurance market consists of sales of insurance by entities (organizations, sole traders, and partnerships) that engage in insurance and related activities such as underwriting (assuming the risk and assigning premiums) policies, insurance brokerage, and reinsurance. The insurance industry is categorized based on 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 based on 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 main types of insurance (providers, brokers, and re-insurers) are insurance providers, insurance brokers, and agents, 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 payments industry has witnessed a rapid increase in the adoption of EMV technology. This growth is driven by a 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 of 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. From June 2019 to June 2021, MV card-present transactions climbed by 14.2%, from 67.84% to 77.52%.

North America was the largest region in the insurance (providers, brokers, and re-insurers) market in 2021. Asia Pacific was the second largest region in the global insurance (providers, brokers, and re-insurers) market. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Scope
Markets Covered: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

Key Topics Covered:

1. Executive Summary

2. Report Structure

3. Insurance (Providers, Brokers and Re-Insurers) Market Characteristics

4. Insurance (Providers, Brokers and Re-Insurers) Market Product Analysis

5. Insurance (Providers, Brokers and Re-Insurers) Market Supply Chain

6. Insurance (Providers, Brokers and Re-Insurers) Market Customer Information

7. Insurance (Providers, Brokers and Re-Insurers) Market Trends And Strategies

8. Insurance (Providers, Brokers and Re-Insurers) Market Size And Growth

9. Insurance (Providers, Brokers and Re-Insurers) Market Regional Analysis

10. Insurance (Providers, Brokers and Re-Insurers) Market Segmentation

11. Insurance (Providers, Brokers and Re-Insurers) Market Segments

12. Insurance (Providers, Brokers and Re-Insurers) Market Metrics

13. Asia-Pacific Insurance (Providers, Brokers and Re-Insurers) Market

14. Western Europe Insurance (Providers, Brokers and Re-Insurers) Market

15. Eastern Europe Insurance (Providers, Brokers and Re-Insurers) Market

16. North America Insurance (Providers, Brokers and Re-Insurers) Market

17. South America Insurance (Providers, Brokers and Re-Insurers) Market

18. Middle East Insurance (Providers, Brokers and Re-Insurers) Market

19. Africa Insurance (Providers, Brokers and Re-Insurers) Market

20. Insurance (Providers, Brokers and Re-Insurers) Market Competitive Landscape

21. Key Mergers And Acquisitions In The Insurance (Providers, Brokers and Re-Insurers) Market

22. Market Background: Financial Services Market

23. Recommendations

24. Appendix

25. Copyright And Disclaimer

Companies Mentioned

  • Unitedhealth Group
  • AXA
  • Munich Re
  • Allianz
  • Generali

For more information about this report visit https://www.researchandmarkets.com/r/2pnm2f

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