Global Logistics Insurance Market, Top key players are Allianz SE, Dawson Companies, American International Group, Inc., DB Schenker, and G4S International Logistics, among others

Global Logistics Insurance Market Size, Status and Forecast 2019-2025

The global logistics insurance market can be segmented on the basis of its type and region. Based on the type, the global market is segregated into marine, aviation, transportation, and others. On the basis of the regions, the global logistics insurance market is diversified into North America, Asia Pacific, Europe, the Middle East and Africa, and Latin Americ.

The key factor driving the logistics insurance market is the growing expectations of the customer regarding the personalized insurance services and products. The products dealing with the insurance are specifically designed to include all the potential risks that the buyer can pose. The new products are introduced by the organizations in order to increase the after-tax income by suitably charging the product. The competition is retained by the insurers by adopting proper optimization techniques.

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Some of the key players operating in this market include: Allianz SE, Dawson Companies, American International Group, Inc., DB Schenker, and G4S International Logistics, among others.

The premium rates are determined by the companies based on the data of the previous years and accordingly they rate their products. The tools that are included in determining the product price are what-if scenario simulation, predictive analytical models, and impact analysis. A deep understanding of the market competition, customer buying preferences, customer data, and pricing strategies are required for the product pricing. Both large-scale and small-scale enterprises require effective claim management. All these factors are fuelling the growth of the logistics insurance market.

The logistics insurance market is well developed in the developed regions. Europe anticipates leading the logistics insurance market by holding the major amount of market share. Growing digital insurance in the region and the presence of the advanced logistics infrastructure are the major factors driving the market. The automated regulatory compliance is also positively contributing to the market growth in the region. The logistics sector is mainly impacted by the government regulatory initiatives as they play a vital role in determining the value of the policies.

A rapid market growth is expected in the Asia Pacific owing to the growing logistics development in the emerging economies such as China and India which will likely offer many opportunities for the logistics insurance market. Another factor that contributes to the market growth is the rising infrastructure spending.

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