|[March 10, 2014]
Research and Markets: Online Life Insurance Market in Japan 2014-2018: One of the Major Drivers in This Market is the Increase in the Self-Directed Client Segment
DUBLIN --(Business Wire)--
Research and Markets (http://www.researchandmarkets.com/research/8mjf3s/online_life)
has announced the addition of the "Online
Life Insurance Market in Japan 2014-2018" report to their
The analysts forecast the Online Insurance market in Japan to grow at a
CAGR of 16.84 percent over the period 2013-2018. One of the key factors
contributing to this market growth is the increasing usage of the
internet for seeking information about insurance. The Online Insurance
market in Japan has also been witnessing a rise in the aging population.
However, the higher costs of the model could pose a challenge to the
growth of this market.
Key vendors dominating this space are Lifenet Insurance Company, The
Dai-ichi Life Insurance Company Limited, and AE Ltd.
Other vendors mentioned in the report are Mitsui Life Insurance Company
Limited Company, Manulife Financial, Japan Post Insurance, and MetLife,
Commenting on the report, an analyst from the team said: A considerable
segment of clients no longer consider personal interaction important.
These people have become more familiar with insurance products and have
some understanding of their needs and how these change over their life
stages, even if they may still use personal contact channels to conduct
transactions. These customers want complete control over the buying
process and do not want to be subjected to sales pressure. They also
feel that online channels are more convenient and that they can find
better deals themselves. Agents do not have a particularly strong
position in Japan. Historically, direct channels have been an important
feature of the Japanese market. The use of internet resources is growing
rapidly and in the future the internet will be the dominant channel, not
only for research, but also for transactions.
According to the report, one of the major drivers in this market is the
increase in the Self-directed Client segment. These clients seek
good-value products that they can buy directly, preferably over the
internet. This client segment is usually in the age group of 25 to 45
years, and who are usually more tech-savvy.
For more information visit http://www.researchandmarkets.com/research/8mjf3s/online_life
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