Life Insurance Rating Systems Market Business Scenario 2021- Vertafore, Applied Systems, EZLynx, ACS, Sapiens/Maximum Processing

The Life Insurance Rating Systems Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies. As per our analysis, this industry will recover post-COVID, and this market will flourish during the forecast period.

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“Life Insurance Rating Systems Market Expected to reach at a CAGR 4.8% during Forecast period 2021-2027”

Top leading Companies Profiled in Life Insurance Rating Systems Market Report are Vertafore, Applied Systems, EZLynx, ACS, Sapiens/Maximum Processing, Agency Matrix, ITC, HawkSoft, QQ Solutions, Buckhill, InsuredHQ

Industry Recent Developments and Updates

Max Life Insurance launches term plan with Special Exit Value option- NEW DELHI: Max Life Insurance Company has launched a comprehensive term life insurance plan that offers enhanced financial benefits, customised for new-age subscribers. It is an individual pure-risk premium life insurance plan that offers policyholders multiple new and enhanced benefits like the ‘Premium Break Option’, ‘Special Exit Value’, choice of claims payout for the nominee, among others.

SBI Life Insurance Launches New Age Protection Plan 'eShield Next'- State Bank of India (SBI) Life Insurance recently announced the launch of 'SBI Life eShield Next' - a new age-term insurance policy, which raises or 'levels up' the protection coverage with the life milestones of the insured. The policy is a non-participating, non-linked, life insurance pure risk premium product, which allows customers to reap benefits by ‘levelling up' the required insurance protection, according to a recent statement shared by the company.

Aditya Birla Sun Life Insurance launches Vision LifeIncome Plus, A Plan to Suit the Customer's Money Needs at all life stages- Mumbai (Maharashtra) Aditya Birla Sun Life Insurance (ABSLI), the life insurance subsidiary of Aditya Birla Capital Limited (ABCL), announced the launch of a hyper-flexible savings plan - ABSLI Vision LifeIncome Plus Plan that provides guaranteed regular income plus flexible bonus pay-outs.

Market Overview

Global insurance premiums passed the USD 5 trillion mark for the first time in 2018, equivalent to more than 6% of world gross domestic product, growth came generally from property/casualty insurance expansion in China and other emerging Asian markets. In terms of global insurance premiums, the Asia-Pacific region holds 32.4%, North America 30.8%, and Europe 31.6% in 2018. North America and Europe had the highest insurance penetration rates in 2017, measured by premiums as a percentage of GDP, with 7.1% and 6.5% of GDP, respectively. Asia, which includes the Middle East and Oceania, tied in third place with 5.6%. While Taiwan (21.3%), Hong Kong (17.9%), South Korea (11.6%), Japan (8.6%), and Singapore (8.2%) recorded rates above those seen in North America, about half of the countries in Asia have rates of less than 3% of GDP, with large populous economies, such as Pakistan and Bangladesh, registering rates under 1%. Latin America and the Caribbean, as well as Africa, hold the most potential for catch-up growth, with penetration rates of 3.06% and 2.96%, respectively.

The global life insurance market is expected to grow from $2475.85 billion in 2020 to $2880.18 billion in 2021 at a compound annual growth rate (CAGR) of 16.3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $3519.44 billion in 2025 at a CAGR of 5.1%

Market Research Study Focus on these Types:              

Cloud-Based

On-Premise

Market Research Study Focus on these Applications:

Term Life Insurance

Whole Life Insurance

Group Life Insurance

Others

Regional Analysis:

Asia-Pacific (China, India, Japan, South Korea, Australia, Indonesia, Malaysia, and Others), North America (United States, Canada, and Mexico), Central & South America (Brazil, and Rest of South America), Europe (Germany, France, UK, Italy, Russia, and Rest of Europe), Middle East & Africa (GCC Countries, Turkey, Egypt, South Africa and Other)

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Key Takeaways from Life Insurance Rating Systems Report

─Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals

─Understand the different dynamics influencing the Life Insurance Rating Systems market – key driving factors, challenges and hidden opportunities.

─Get in-depth insights on your competitor performance – Life Insurance Rating Systems market shares, strategies, financial benchmarking, product benchmarking, SWOT and more

─Analyze the sales and distribution channels across key geographies to improve top-line revenues.

─Understand the industry supply chain with a deep dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.

─Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.

─Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the Life Insurance Rating Systems

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Life Insurance Rating Systems Market Table of Contents:

─Executive Summary of
─Market Landscape
─Life Insurance Rating Systems Market Sizing
─Porter’s Five Forces Analysis
─Life Insurance Rating Systems Market Segmentation by End-user, by Platform, by Objective
─Customer landscape
─Geographic Landscape
─Vendor Landscape and Analysis
─Appendix

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