Press release
Parametric Insurance Market is Expected to Reach $29.3 billion by 2031 | North America & Europe are the Most Prominent Regions
Drivers, Restraints, and Opportunities
Rapid claim adjustment process, technological advancements, and improved user experience drive the growth of the global parametric insurance market. However, high prices of parametric insurance limit the market growth. On the other hand, new and exciting applications of parametric insurance principles present new opportunities in the coming years.
Download Sample Report at
https://www.alliedmarketresearch.com/request-sample/15335
Covid-19 Scenario
The Covid-19 pandemic made a positive impact on the global parametric insurance market, owing to increase in awareness and rise in adoption by businesses with widening risk spectrum.
The majority of businesses realized that they did not have insurance protection against such pandemics, even if they included a business interruption policy in insurance policies. This led to adoption of parametric insurance.
The natural catastrophes insurance segment to maintain its lead status throughout the forecast period
Based on type, the natural catastrophes insurance segment accounted for the highest market share in 2021, contributing to nearly half of the global parametric insurance market, and is estimated to maintain its lead status throughout the forecast period. This is attributed to continuous rise in commercial insurance pricing and widening risk spectrum. However, the specialty insurance segment is expected to manifest the fastest CAGR of 13.1% from 2022 to 2031, owing to rise in demand for specialized expertise and implementation of advanced technologies.
Interested to Procure the Data? Inquire Here at https://www.alliedmarketresearch.com/purchase-enquiry/15335
The agriculture segment to maintain its leadership status by 2031
Based on industry vertical, the agriculture segment held the highest share in 2021, accounting for more than one-fourth of the global parametric insurance market, and is projected to maintain its leadership status by 2031. This is due to emergence of coverage regulations that include situations that were previously uninsurable and assist in reducing protection gaps. However, the construction segment is projected to witness the highest CAGR of 15.2% from 2022 to 2031. This is owing to assistance to contractors in mitigating weather-related perils during construction and operations.
North America to continue its lead position by 2031
Based on region, North America contributed to the highest market share in terms of revenue in 2021, accounting for more than two-fifths of the global parametric insurance market, and is projected to continue its lead position by 2031. This is attributed to feasible alternative presented by parametric insurance for organizations to create climate resilience and boost catastrophe response & recovery and expansion by market players. However, Asia-Pacific is estimated to witness the largest CAGR of 13.2% during the forecast period. This is due to continuous market hardening, natural catastrophe (Nat CAT) exposures, and climate change in the region.
Key Segments:
By Type
-Natural Catastrophes Insurance
-Specialty Insurance
-Others
By Industry Vertical
-Agriculture
-Aerospace & Defense
-Mining
-Construction
-Energy & Utiities
-Manufacturing
-Others
By Region
-North America (U.S., Canada)
-Europe (United Kingdom, Germany, France, Italy, Spain, Rest of Europe)
-Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
-LAMEA (Latin America, Middle East, Africa)
Enquire for Customization with Detailed Analysis of COVID-19 Impact in Report at https://www.alliedmarketresearch.com/request-for-customization/15335
Leading Market Players
-Allianz
-AXA XL
-Chubb
-FloodFlash
-Jumpstart Insurance Solutions, Inc.
-Berkshire Hathaway Specialty Insurance
-Munich Re
-Global Parametrics
-Swiss Re
-Zurich American Insurance Company
Similar Reports:
Travel Insurance Market https://www.alliedmarketresearch.com/travel-insurance-market
Blockchain In Retail Banking Market https://www.alliedmarketresearch.com/blockchain-in-retail-banking-market-A31695
Fintech Cloud Market https://www.alliedmarketresearch.com/fintech-cloud-market-A31616
API Banking Market https://www.alliedmarketresearch.com/api-banking-market
Account Aggregators Market https://www.alliedmarketresearch.com/account-aggregators-market-A12932
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow us on LinkedIn and Twitter
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Parametric Insurance Market is Expected to Reach $29.3 billion by 2031 | North America & Europe are the Most Prominent Regions here
News-ID: 2921210 • Views: …
More Releases from Allied Market Research
Biocides Market Growth, Trends, Revenue, Size, Future Plans and Forecast 2031
Allied Market Research recently released a comprehensive report titled "Biocides Market," offering insights into the industry. In 2019, the global biocides market was valued at $12.7 billion, with projections indicating it could reach $20.7 billion by 2027, exhibiting a promising CAGR of 6.8% during 2020-2027.
Key Market Drivers:
The market is driven by the growing demand for clean water in both domestic and industrial sectors. However, environmental regulations regarding toxic biocides and…
Polypropylene and Polypropylene Composites Global Market Report 2018 - By Demand …
In a recent report by Allied Market Research titled "Global Polypropylene and Polypropylene Composites Market for Injection Molding," significant insights into the industry were unveiled. In 2016, the market was valued at $54,703 million, with projections indicating it could reach $78,381 million by 2023, boasting a Compound Annual Growth Rate (CAGR) of 5.1% during 2017-2023. Notably, polypropylene (PP) dominated the market, accounting for over 89% of the share in 2016.
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝…
Mobility Scooters Market to See Stunning Growth: $3.21 billion with a CAGR of 6. …
𝐓𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐦𝐨𝐛𝐢𝐥𝐢𝐭𝐲 𝐬𝐜𝐨𝐨𝐭𝐞𝐫𝐬 𝐦𝐚𝐫𝐤𝐞𝐭 𝐰𝐚𝐬 𝐯𝐚𝐥𝐮𝐞𝐝 𝐚𝐭 $𝟏.𝟕𝟐 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟎, 𝐚𝐧𝐝 𝐢𝐬 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐫𝐞𝐚𝐜𝐡 $𝟑.𝟐𝟏 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟎, 𝐫𝐞𝐠𝐢𝐬𝐭𝐞𝐫𝐢𝐧𝐠 𝐚 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟔.𝟓% 𝐟𝐫𝐨𝐦 𝟐𝟎𝟐𝟏 𝐭𝐨 𝟐𝟎𝟑𝟎.
Factors such as increased use of electric mobility scooters as an eco-friendly & efficient way of commutation, rise in population of senior citizens, and increase in awareness of advanced mobility devices are boosting the growth.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/request-sample/2998
A mobility scooter…
SMS Firewall Market Revenue to Touch $5.7 Billion by 2031 | Proofpoint, Sinch, C …
Allied Market Research published a report, titled, "Short Message Service (SMS) Firewall Market by Component (Platform, Services), by SMS Type (Application-to-Person (A2P) messages, Person-to-Application (P2A) messages), by Deployment Mode (On-Premise, Cloud), by SMS Traffic (National SMS traffic, International SMS traffic), by End User (BFSI, IT and Telecom, Retail and E-Commerce, Healthcare, Media and Entertainment, Government and Public Sector, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031".
According to the report,…
More Releases for Insurance
Household Insurance market by top keyaplayers - Discount Insurance Home Insuran …
Household Insurance Industry Overview
The Household Insurance market research study relies upon a combination of primary as well as secondary research. It throws light on the key factors concerned with generating and limiting Household Insurance marketgrowth. In addition, the current mergers and acquisition by key players in the market have been described at length. Additionally, the historical information and current growth of the market have been given in the scope of the research report. The latest trends, product portfolio, demographics, geographical segmentation, and regulatory framework of the Household Insurance market have also been included in…
Agriculture Crop Insurance Market Type (MPCI Insurance, Hail Insurance, Livestoc …
Agriculture Crop Insurance market worldwide Agriculture is an important contributor to any economy. The extensive use of crops for direct human consumption and industrial processes has resulted in increasing the pressure on the existing supply demand gap. Increasing need for food security is expected to augment the demand for insurance policies. The two major risks in agricultural sector are price risk, caused due to volatility in prices in the market…
Household Insurance Market By Key Players: Discount Insurance Home Insurance, On …
Household Insurance Industry Overview
The Household Insurance market research study relies upon a combination of primary as well as secondary research. It throws light on the key factors concerned with generating and limiting Household Insurance market growth. In addition, the current mergers and acquisition by key players in the market have been described at length. Additionally, the historical information and current growth of the market have been given in the scope of the research report. The latest trends, product portfolio, demographics, geographical segmentation, and regulatory framework of the Household Insurance market…
Non-Life Insurance Market :Health Insurance, Property Insurance, Cargo Insurance …
Non-Life Insurance Market Overview:
Summary:Excellence consistency maintains by Garner Insights in Research Report in which studies the global Non-Life Insurance market status and forecast, categorizes and Equipment market value by manufacturers, type, application, and region.
Get Access to Report Sample: http://bit.ly/2Q9Hd8z
Non-Life Insurance market was valued at Million US$ in 2017 and is projected to reach Million US$ by 2025, at a CAGR of during the forecast period. In this study, 2017 has been…
Agricultural Insurance Market 2018-2023: AnHua Agricultural Insurance, Anxin Agr …
A new research study titled, “Global Agricultural Insurance Market” has been added to the comprehensive repository of Orbis Research
Agricultural Insurance Market - Global Status and Trend Report 2018-2023 offer a comprehensive analysis of the Agricultural Insurance industry, standing on the readers’ perspective, delivering detailed market data and penetrating insights. No matter the client is the industry insider, potential entrant or investor, the report will provide useful data and information.
The…
Insurance Market-Saga’s Retail Broking Business Offers Motor Insurance, Pet In …
Orbis Research Market brilliance released a new research report of 33 pages on title ‘Insurance Company Profile: Saga’ with detailed analysis, forecast and strategies.
Insurance Company Profile: Saga", profile provides a comprehensive review of Saga and its UK business. This includes its strategy for growth and focus on digitization as well as its performance in the UK and marketing and distribution strategy.
Request a sample of this report at http://orbisresearch.com/contacts/request-sample/2026595
Saga…
