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Global Term Life Insurance Market Opportunities and Strategies to 2030 - ResearchAndMarkets.comThe "Term Life Insurance Global Market Opportunities and Strategies to 2030" report has been added to ResearchAndMarkets.com's offering. This report from the publisher provides the strategists, marketers and senior management with the critical information they need to assess the global term life insurance market. The global term life insurance market reached a value of nearly $778.8 billion in 2019, having grown at a compound annual growth rate (CAGR) of 6.87% since 2015, and is expected to grow at a CAGR of 9.67% to nearly $1,126.6 billion by 2023. Also, the market is expected to grow to $1,353.0 billion in 2025 at a CAGR of 9.59% and to $2,217.9 billion in 2030 at a CAGR of 10.39%. This report describes and evaluates the global term life insurance market. It covers two five-year periods, one three-year period and one six-year period including, 2015 to 2019, termed the historic period, and 2019 to 2023 forecast period, 2023-2025 forecast period and 2025 -2030 the forecast period. Growth in the historic period resulted from economic growth, and government led insurance reforms. Factors that negatively affected growth in the historic period were lack of awareness, and limited coverage of illness death causes mistrust. Asia Pacific was the largest region in the term life insurance market, accounting for 49.4% of the global market in 2019. It was followed by North America and Western Europe, and the other regions. Going forward, the fastest growing regions in the term life insurance market will be Eastern Europe and Asia Pacific, where growth will be at CAGRs of 17.1% and 14.9% respectively from 2019-2023. The global term life insurance market is highly fragmented with a large number of small players in the market. The top ten competitors of the market made up to 3.30% share of the total market in 2018. Major players in the market include MetLife, Aegon Life Insurance Company, Prudential Financial, Northwestern Mutual, State Farm, and others. To take advantage of the opportunities, the publisher recommends the term life insurance companies to offer tailored insurane policies, collaborate with tech startups to offer the best term life insurance policies to the clients, use automation and big data technologies to improve operational efficiencies, expand offerings in emerging markets, provide competitively priced offerings and focus on creating advertising content on digital platforms to increase sales, among other strategies. Key Topics Covered: 1. Term Life Insurance Market Executive Summary 2. Table of Contents 3. List of Figures 4. List of Tables 5. Report Structure 6. Introduction 6.1.1. Segmentation By Geography 6.1.2. Segmentation By Type Of Insurance 6.1.3. Segmentation By Distribution Channel 7. Term Life Insurance Market Characteristics 7.1. Market Definition 7.2. Market Segmentation By Type Of Insurance 7.2.1. Individual Level Term Life Insurance (or Individual Term Insurance) 7.2.2. Group Level Term Life Insurance (or Group Term Insurance) 7.2.3. Decreasing Term Life Insurance 7.3. Market Segmentation By Distribution Channel 7.3.1. Tied Agents And Branches 7.3.2. Brokers 7.3.3. Bancassurance 7.3.4. Direct And Other Channels 8. Global Term Life Insurance Market Size And Growth 8.1. Historic And Forecast Market Growth, Value ($ Billion) 8.1.1. Drivers Of The Market 2015-2019 8.1.2. Restraints On The Market 2015-2019 8.1.3. Drivers Of The Market 2019-2023 8.1.4. Restraints On The Market 2019-2023 9. Global Term Life Insurance Market Segmentation 9.1. Global Term Life Insurance Market, Segmentation By Type Of Insurance, Historic And Forecast, 2015-2019, 2023F, 2025F, 2030F, Value ($ Billion) 9.1.1. Individual Level Term Life Insurance 9.1.2. Group Level Term Life Insurance 9.1.3. Decreasing Term Life Insurance 9.2. Global Term Life Insurance Market, Segmentation By Distribution Channel, Historic And Forecast, 2015-2019, 2023F, 2025F, 2030F, Value ($ Billion) 9.2.1. Tied Agents And Branches 9.2.2. Brokers 9.2.3. Bancassurance 10. Term Life Insurance Market, Regional And Country Analysis 10.1. Global Term Life Insurance Market, By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, Value ($ Billion) 10.2. Global Term Life Insurance Market, By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, Value ($ Billion) Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/9hstll View source version on businesswire.com: https://www.businesswire.com/news/home/20200615005427/en/ |
