Press release
Microinsurance Market Size Will Reach to $126.39 Billion by 2028 at a CAGR of 7.2% | Industry Share, Growth And Forecast Report by 2033
Microinsurance Market Report
The Business Research Company offers in-depth market insights through Microinsurance Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The microinsurance market size has grown strongly in recent years. It will grow from $89.05 billion in 2023 to $95.69 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to financial inclusion initiatives, emergence of microfinance institutions, government support and initiatives, ngo and donor involvement, market liberalization.
The microinsurance market size is expected to see strong growth in the next few years. It will grow to $126.39 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to health pandemics and risks, government social protection programs, rural and agricultural development, regulatory incentives, regulatory initiatives to promote inclusion. Major trends in the forecast period include digital transformation and insurtech, partnerships with fintech and telecom companies, parametric insurance solutions, pay-per-use and on-demand insurance, blockchain for transparency and trust.
Get Free Sample Of This Report-
https://www.thebusinessresearchcompany.com/sample.aspx?id=13155&type=smp
Market Segmentation:
The microinsurance market covered in this report is segmented -
1) By Product Type: Property Insurance, Health Insurance, Life Insurance, Index Insurance, Accidental Death And Disability Insurance, Other Product Type
2) By Model Type: Partner Agent Model, Full-Service Model, Provider Driven Model, Other Model Types
3) By Provider: Microinsurance (Commercially Viable), Microinsurance Through Aid Or Government Support
4) By End-User: Business, Personal
Major Driver - Government Initiatives Fueling Growth In The Microinsurance Market
Rising government initiatives for microinsurance are expected to propel the growth of the microinsurance market going forward. Government initiatives refer to specific actions, programs, or policies that are undertaken by a government to address various issues, promote specific goals, or bring about desired outcomes within a society or a specific sector. Microinsurance offers a range of benefits that can be particularly advantageous for economically vulnerable populations and small enterprises. For instance, in October 2022, the UN Capital Development Fund (UNCDF), a US-based public finance agency, unveiled a new microinsurance product in Vanuatu. This was designed to protect climate-vulnerable populations against the adverse financial impacts of extreme weather hazards by providing a quick injection of relief funds within 10-14 days following a natural disaster and is aimed at Vanuatu's smallholder farmers, fishers, MSMEs, and people with disabilities. Therefore, rising government initiatives for microinsurance will drive the microinsurance market.
Competitive Landscape:
Major companies operating in the microinsurance market report are Berkshire Hathaway Inc., Ping An Insurance (Group) Company of China Ltd., Allianz SE, China Life Insurance Company Limited, Wells Fargo & Company, MetLife Inc., American International Group Inc., Liberty Mutual Holding Company Inc., Chubb Limited, Zurich Insurance Group, Aviva PLC, Aon PLC, SBI Life Insurance Company Ltd., ICICI Prudential Life Insurance Co. Ltd., Bharti AXA Life Insurance Company Ltd., Munich Re Group, National Insurance Company Limited, Tata AIA Life Insurance Company Limited, Banco do Nordeste Brasil S.A., HDFC Ergo General Insurance Company Limited, The Hollard Insurance Company Pty Ltd, Swiss Re Group, Bajaj Allianz Life Insurance Co. Ltd., Bandhan Bank Ltd., NSIA Insurance Ltd., CLIMBS Life and General Insurance Cooperative, Protecta Insurance New Zealand, MicroEnsure Holdings Limited, MetLife Services and Solutions LLC, afpgen.com.ph
Get Access To The Full Market Report -
https://www.thebusinessresearchcompany.com/report/microinsurance-global-market-report
Top Trend - Advanced Microinsurance Platforms Transform Financial Protection For Underserved Population
Major companies operating in the microinsurance market are focused on developing advanced platforms such as bizmoProtect to expand distribution and claim processing reach for underserved populations. Microinsurance platforms such as bizmoProtect include payment of outstanding loans for businesses, affordable insurance products to help low-income people cope with and recover from financial losses, and reducing the economic vulnerabilities of lower-income households during the COVID-19 crisis. For instance, in March 2021, Peppermint Innovation Ltd., an Australia-based fintech company, launched a micro-insurance product platform to deliver life and accident insurance products. The new bizmoProtect service offers microinsurance through its bizmoto agent network and platform. The software provides three insurance coverage levels and is currently available for Android phones. Customers use bizmoProtect to register their information, choose an insurance product, fill out forms, and pay for the coverage through an agent network. This insurance coverage can be acquired on a monthly or annual basis.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Microinsurance Market Characteristics
3. Microinsurance Market Trends And Strategies
4. Microinsurance Market - Macro Economic Scenario
5. Microinsurance Market Size And Growth
…..
27. Microinsurance Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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 Microinsurance Market Size Will Reach to $126.39 Billion by 2028 at a CAGR of 7.2% | Industry Share, Growth And Forecast Report by 2033 here
News-ID: 3436909 • Views: …
More Releases from The Business Research Company
Company Registration Service Market Landscape 2025: Forecast Data and Growth Str …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Company Registration Service Market Through 2025?
The market size for company registration services has seen robust growth in the recent past. The market is projected to expand from $10.67 billion in 2024 to $11.55 billion in 2025, exhibiting a compound annual growth…
Comprehensive 2025 Commercial Toilet Partition Market Overview: Trends, Forecast …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Toilet Partition Market Through 2025?
In recent years, the market size for commercial toilet partitions has significantly expanded. The forecast predicts a rise from $1.82 billion in 2024 to $1.95 billion in 2025, with a compound annual growth rate (CAGR) of…
Key Trends Influencing the Growth of the Commercial Insurance For Small And Medi …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Insurance For Small And Medium-Sized Enterprises (SMEs) Market Through 2025?
The market size of commercial insurance for small and medium-sized enterprises (SMEs) has seen substantial growth over the recent years. A rise from $111.83 billion in 2024 to $119.76 billion in…
Growing Focus On Reducing Greenhouse Gas Emissions Driving The Market Growth Due …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Combustion Emissions Analyzer Market Through 2025?
In the past few years, the market size for combustion emissions analyzer has seen robust growth. It is projected to increase from $1.02 billion in 2024 to $1.09 billion in 2025, with a compound annual growth…
More Releases for Insurance
Renters Insurance Market to See Competition Rise | Travelers Insurance, Geico In …
HTF MI introduces new research on Renters Insurance covering the micro level of analysis by competitors and key business segments (2023-2029). The Renters Insurance explores a comprehensive study of various segments like opportunities, size, development, innovation, sales, and overall growth of major players. The research is carried out on primary and secondary statistics sources and it consists of both qualitative and quantitative detailing. Some of the major key players profiled…
Insurance Road Assistance Services Market Is Booming Worldwide | Travelers Insur …
Insurance Road Assistance Services Market: The extensive research on Insurance Road Assistance Services Market, by Qurate Research is a clear representation on all the essential factors that are expected to drive the market considerably. Thorough study on Insurance Road Assistance Services Market helps the buyers of the report, customers, the stakeholders, business owners, and stockholders to understand the market in detail. The updated research report comprises key information on the…
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…
Life Insurance Market in Kuwait By Warba Insurance Company, Al Ahleia Insurance …
GlobalData’s 'Life Insurance in Kuwait, Key Trends and Opportunities to 2021' report provides a detailed outlook by product category for the Kuwaiti life insurance segment, and a comparison of the Kuwaiti insurance industry with its regional counterparts.
It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2012-2016) and forecast period (2016-2021).
The report also…
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…
