Press release
Spanish Health Insurance industry Gaining Popularity- ken Research
The Spanish healthcare system is known to be one of the best in the world. It provides free healthcare to almost all its citizens. The system is funded by social security payments and hence, most of the citizens do not require any private health insurance. All workers in Spain, whether employed or self-employed are required to pay income tax (social security payment) which automatically makes them eligible for free state health insurance, which is known as NHS or National Health Service. This free service has left little scope for private insurance players in the country. However, sometimes, private health insurance is required because of some special need.According to the market Research Report "Personal Accident and Health Insurance in Spain, Key Trends and Opportunities to 2020", private insurance players in Spain offer special packages which are specific to age, health condition and other circumstances. In addition, because of increasing debt, the government has decided to reduce the spending on public health insurance. This has resulted in a thriving insurance industry in Spain as people are expected to move towards private insurance. The personal accident and health segment accounted for the lowest industry share of 16.2% in 2015, in terms of gross written premium. The strong social security and healthcare system affects private health insurance; private healthcare expenditure as a percentage of GDP rose marginally, mainly due to the high quality of private healthcare. The decreasing population will affect the demand for health insurance over the forecast period. The penetration rate of the personal accident and health insurance segment stood at 0.8% of GDP in 2015. The number of deaths due to road accidents in Spain fell by -70.6% between 1995 and 2015.
Although the insurance sector is growing in Spain, the personal accident and health insurance segment is not doing that well. This segment constitutes a meagre small fraction of the total premiums of the complete insurance industry. Because of NHS, a strong government backed insurance service, the private health insurance sector extremely competitive and players frequently engage themselves in price wars. Still, the profit margins are witnessed and hence this segment is estimated to expand.
The employers, for the safety of their employees take most of the accident insurance. Now because of the economic crisis, a decrease in the premium of accident insurance category had been noticed. Nevertheless, after 2010, some growth has been seen in this segment. Although the growth is not very significant, but the situation is expected to improve in coming years as, the economy is again moving towards a stable growth rate. However, health insurance segment has not seen this downward trend. Health insurance segment is growing constantly for past few years. One of the major reasons for this is the significant increase in the ageing population of Spain. With the increase in average age of population, more and more are opting for easily accessible and lucrative private health insurance. Initially, because of its highly competitive nature, only a few large players were there in the market. Now, as the government has reduced its spending, a lot more players have come into the market. ASISA Somos Medicos, Adeslas Segur Caixa, DKV Seguros are few of the players in the market.
It can be easily observed that although private insurance players see a tough competition from NHS or the free government insurance, still the lengthy waiting times at public healthcare centres, long processing period for accident insurance claim and reduced government expenditure on free insurance is driving more and more people towards private insurance. Resultanatly, a significant growth rate can be expected in the personal accident and health insurance in Spain.
Topics Covered in the report
Personal Accident and Health Insurance in Spain Market Research Report
Personal Accident and Health Insurance in Spain Market Size
Spain Personal Accident and Health Insurance Market
Spain Personal Accident and Health Insurance Trade Market
Spain Personal Accident and Health Insurance Gross Written premium
Spain Personal Accident and Health Insurance Market Future Outlook
Spain insurance industry research
Spain insurance industry trends
Spain insurance industry regulations
Spain Personal Accident and Health Insurance Market growth
Spain Personal Accident and Health Insurance Market trends
Spain Personal Accident and Health Insurance Market future
Spain Personal Accident and Health Insurance Market share
Spain Personal Accident and Health Insurance Market analysis
For further reading click on the link below:
https://www.kenresearch.com/banking-financial-services-and-insurance/insurance/personal-accident-health-insurance-spain/106751-93.html
Related reports:
Reinsurance in Hong Kong, Key Trends and Opportunities to 2020
Personal Accident and Health Insurance in Hong Kong, Key Trends and Opportunities to 2020
Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
www.kenresearch.com
It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2011-2015) and forecast period (2015-2020).
Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
www.kenresearch.com
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 Spanish Health Insurance industry Gaining Popularity- ken Research here
News-ID: 582631 • Views: …
More Releases from Ken Research Pvt Ltd
Increase in cybercrime results in India Digital Forensic Market to rise, with an …
With the rise in digital threats and cybercrimes, India Digital Forensic Market makes successive changes like integration of Artificial Intelligence, and marking its overall growth.
STORY OUTLINE
Using techniques like Data Recovery, Log Analysis and more, India Digital Forensic Market enhances its Computer Forensics.
Upgrades towards Network and Mobile Forensics are improving in cyber threats prevention, marking its increase in efficiency and security.
With the incorporation of Cloud Based services, advanced methods and easy…
Global Health Insurance market is expected to grow at a CAGR of ~6% by 2028: Ken …
Due to recent pandemic of Covid 19 health insurance market has grabbed growth ensuring economic help to comman man for better health care facilities with easy money handling and increasing awareness especially after COVID 19.
STORY OUTLINE
Launch of new policies, mergers, acquisitions and partnerships to propel growth in future
Covid 19 has a huge impact on the health insurance market on Global level.
Factors, which are responsible for the growth, are the higher…
Exploring the Investment Landscape in the UK Agricultural Equipment Market
Anticipated to achieve a CAGR of approximately 3.5% (2022-2027), the UK's agricultural equipment market expanded between 2014 and 2018, yet faced a significant downturn in 2019-2020 due to COVID-19.
STORY OUTLINE
The investment landscape in the UK agricultural equipment market is diverse, offering a spectrum of opportunities from established manufacturers to startups driving disruptive change.
Investors can benefit from the technological prowess of leading manufacturers like John Deere, CNH Industrial, and AGCO Corporation…
Unveiling the Thriving Landscape of UAE's IT Service Market
The IT services sector encompasses a diverse range of offerings, including but not limited to Cloud services, Cloud Applications, Datacenters, Artificial Intelligence (AI), Consulting Services, Connectivity Solutions, Security services, and other related services.
STORY OUTLINE
Digital Transformation Drive: UAE's IT market thrives on visionary government initiatives like "Smart Dubai" and "UAE Vision 2021," spurring sectoral evolution.
Cloud's Ascendancy: Rapid cloud adoption, coupled with AI, IoT, and blockchain, reshapes industries for scalability and innovation.
Security…
More Releases for Spain
Fairing Market 2022 Analysis by Top Manufacturers - Aciturri (Spain),AERnnova(Sp …
The Global "Fairing Market" research report offers an in-depth examination of the current trends, latest expansions, conditions, market size, various drivers, limitations, and key players along with their profile details. The Fairing Market Research report offers the historic data for the year 2016 to 2021 and also makes available the forecast data from the year 2022 to 2028 which is based on revenue. With the help of all this information…
Spain Agriculture Market, Spain Agriculture Industry, Spain Agriculture Livestoc …
The Agriculture has always been of prodigious importance for Spain region, as feeding the world’s principal population is not an easy assignment. The Spain government has been auxiliary the industry of agriculture with a significant number of policies, trying to stabilize the productivity and seeking ways to ensure the sector is upward healthily and sustainably. The federal government of Spain has been exceedingly supportive of agriculture for decades, and there…
Bridal Wear Market 2019 by Top Growing Companies - Pronovias Fashion Group (Spai …
Bridal Wear Market share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
Global Bridal Wear Market 2019 provides the summarized study on the market covering many factors encouraging the expansion of the market like manufacturers, market size, type, regions, and applications. The report is the most important research for who looks for complete information on the global Bridal Wear…
Spain Foodservice: The Future of Foodservice in Spain to 2020
The Future of Foodservice in Spain to 2020 Report published by Publisher Intelligence provides readers with a detailed analysis of consumer, operator and technology level trends in the Spanish Foodservice sector, analysis of market size, outlets and transactions in Spain and key players in the Spanish Foodservice market.
This report offers detailed analysis of the Spanish Foodservice market with market size forecasts covering the next five years. This report will also…
Solar Tower Thermal Power System 2017 Global Market Key Players -Abengoa Solar ( …
Solar Tower Thermal Power System 2017
Wiseguyreports.Com Adds “Solar Tower Thermal Power System -Market Demand, Growth, Opportunities, Manufacturers, Analysis of Top Key Players and Forecast to 2022” To Its Research Database.
Description:
This report mainly introduces volume and value market share by players, by regions, by product type, by consumers and also their price change details. As a Detailed Analysis report, it covers all details inside analysis and opinion…
Agrochemicals Market in Spain
ReportsWorldwide has announced the addition of a new report title Spain: Agrochemicals: Market Intelligence (2016-2021) to its growing collection of premium market research reports.
The report “Spain: Agrochemicals: Market Intelligence (2016-2021)” provides market intelligence on the different market segments, based on type, active ingredient, formulation, crop, and pest. Market size and forecast (2016-2021) has been provided in terms of both, value (000 USD) and volume (000 KG) in the report. A…
