Variable life Insurance Market New Development, Rising Trends and Demand Growth 2022 to 2029-Allianz, AXA, Generali, Ping An Insurance, China Life Insurance

Variable life Insurance Market Report 2022: New Business Ideas and Perceptions

The Global Variable life Insurance Market Report 2022-2029 provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, restraints, and competitive landscape that are playing a substantial role in the Variable life Insurance market. The increasing consumer demand & spending on Variable life Insurance market is expected to drive the enormous growth over the forecast years. The comprehensive Variable life Insurance market Report will help clients to comprehend the market ups-downs and numerous different angles.

the variable life Insurance market size is expected to growth from US$ 7394 million in 2020 to US$ 9832.8 million by 2027; it is expected to grow at a CAGR 4.15%.

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Market Overview-

Online life insurance sales are expected to grow at approximately 5% of the individual annualized new business premium by 2020, whereas the non-life insurance sales are expected to grow at more than 15% of non-life retail insurance business. This growth trend, expected to grow stronger in future, is primarily attributed to the increase in smart phone usage and internet penetration.

The increasing internet and mobile usage has a major influence on changing customer preferences, as the customers are getting used to researching products online. While the traditional model of buying insurance is still the most sought in India, it was found that online research on life insurance has been observing an increasing trend. 
Though the traditional channels, like agency and third-party distribution, have a market share of more than 80%, the online distribution channel is evolving as the preferred mode of purchasing insurance. Additionally, studies show that a typical online customer is well aware of his/her needs and has been taking informed decisions.

Key Market Trends-

Increasing Internet Userbase in India

In 2018, India had more than 480 million internet users, and the figure is projected to cross 650 million in 2024. India is the second-largest online market, worldwide. Majority of the internet users in India are mobile phone internet users who take advantage of cheap alternatives rather than opting for expensive landline connections that require desktop PCs and infrastructure.
According to the ICUBE 2018 report, which tracks the digital adoption and usage trends in India, the number of internet users in India registered an annual growth of 18% and was estimated at 566 million (as of December 2018), with a 40% overall internet penetration.
Increased availability of bandwidth, cheap data plans, and increased awareness driven by government programs seem to have rapidly bridged the digital gap between urban and rural India.
Consequently, the internet penetration in rural India increased from 9% in 2015 to 25% in 2018.

Recent Developments-

In June 2022, LIC Housing Finance announced plans to raise ~Rs. 2,334.69 crore (US$ 312.43 million) through preferential issue of equity shares to the Life Insurance Corporation of India (LIC).
On July 1, 2022, the LIC introduced its Saral Pension Scheme, which is a non-linked, non-participating, single premium, individual immediate annuity plan.
In July 2022, Gallagher announced plan to acquire 100% stake in India's Edelweiss Gallagher Insurance Brokers.
In June 2022, Aditya Birla Sun Life Insurance announced the launch of a new Vision LifeIncome Plus Plan that will provide guaranteed regular income plus flexible bonus payouts to policyholders.
In June 2022, Wardwizard Group ties up with Bajaj Allianz to offer insurance policies to Joy e-Bike customers.
In May 2022, Max Life Insurance Co. Ltd. launched 'Max Life Saral Pension', a non-linked, individual immediate annuity plan.

Global Variable life Insurance Market: Segmentation Analysis-

The Global Variable life Insurance Market is Segmented on the basis of Variable life Insurance Size, Material, Variable life Insurance Type, And Geography.

Variable life Insurance Market, By Type-

Fixed Premium Insurance

Variable Universal Life Insurance

Variable life Insurance Market, By Application-

Agency

Brokers

Bancassurance

Digital and Direct Channels

Key Players In Variable life Insurance Market-

Allianz, AXA, Generali, Ping An Insurance, China Life Insurance, Prudential PLC, Munich Re, Zurich Insurance, Nippon Life Insurance, Japan Post Holdings, Berkshire Hathaway, Metlife, Manulife Financial, CPIC, Chubb, AIG, Aviva, Allstate, Swiss RE, Prudential Financial, Travelers, AIA, Aflac, Legal and General

The study accurately predicts the size and volume of the Variable life Insurance market in the present and the future. The report offers a comprehensive study of the Variable life Insurance and information about the expected future trends that will have a significant impact on the growth of the market.

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Variable life Insurance Market, By Geography-

North America
Europe
Asia pacific
Rest of the world

Our Variable life Insurance market analysis also concludes a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with the SWOT analysis.

Reasons to Purchase this Report-

Includes an in-depth analysis of the Variable life Insurance market of various perspectives through Porter's five forces analysis.
Provides insight into the Variable life Insurance market through Value Chain Analysis.
Variable life Insurance Market dynamics scenario, along with growth opportunities of the market in the years to come.
6-month post-sales analyst support.

Here's how Market Insights Reports helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The researchers analyse recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures.

Perfect Market Size Estimations: The report analyses the demographics, growth potential, and capability of the Variable life Insurance market through the forecast period.

This factor leads to the estimation of the Variable life Insurance market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular Variable life Insurance market that will help the stakeholders to be aware of the current investment scenario across the market.

Customization of the Report-

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About Us-
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