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Israeli Non-life Insurance Industry: Ken Research

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Ken Research announced its latest publication on “Non-Life Insurance in Israel, Key Trends and Opportunities to 2019”offer insights on the changing trends and potential opportunities within the Israeli non-life insurance industry. – PowerPoint PPT presentation

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Title: Israeli Non-life Insurance Industry: Ken Research


1
Israeli Non-life Insurance Industry
2
  • Israeli non-life insurance market expected to
    show positive growth rates over the period
    2014-2019, with property insurance category
    taking the lead as against the current scenario
    where motor insurance is the largest category in
    the non-life segment.
  • Israeli non-life insurance industry is highly
    concentrated with the presence of composite
    insurance groups dealing with both life and
    non-life insurance products. 10 leading companies
    account for 90.2 of the non-life segment's GWP
    in 2014.

3
Ken Research announced its latest publication on
Non-Life Insurance in Israel, Key Trends and
Opportunities to 2019offer insights on the
changing trends and potential opportunities
within the Israeli non-life insurance industry.
The publication includes an insightful analysis
ofproduct category, Israeli economy and
demographics, comparison of the Israeli insurance
industry with its regional counterparts, various
distribution channels, natural hazards and their
impact on the Israeli insurance industry,
competitive landscape and regulatory and
governance policy.The analysis of the
aforementioned trends has been done on the basis
of key categories within the industry such as
motor insurance, property insurance, liability
insurance, marine, aviation and transit
insurance. It provides historical values for the
Israeli non-life insurance segment for the
report's 2010-2014 review period, and projected
figures for the 2014-2019 forecast period.
4
The non-life segment of the insurance industry of
Israel has always shown positive growth rates and
non-declining pattern of growth. Motor insurance
and Property insurance upward growth trend is
expected to continue in next five years as well.
However, on account of increasing GDP and GDP per
capita, property insurance category is expected
to lead the non-life insurance market in coming
years. As against rising competition in
insurance industry all over the world, Israeli
Insurance industry exhibits low level of
competition because of their highly concentrated
market structure.The Israeli non-life segment is
highly concentrated. This is feature unique in
itself as well has imposed challenges to the
industry as well as to the regulatory bodies. The
presence of composite insurance groups has also
posed problems. Hence, government is introducing
various reforms to increase competition in the
market and increase efficiency through use of
technology. Among the various distribution
channels, authorized agencies played a key role
in the expansion of the Israeli non-life segment
in 2014.The Israeli insurance industry is
governed by the CMISD of the Ministry of Finance.
5
  • Global Insurance Industry
  • Gradually the macroeconomic environment has
    significantly improved all over the world with
    rising GDP in most of the countries and
    increasing middle class and high net worth
    population with more and more financial
    resources. These factors have led to the growth
    of life and non-life insurance companies with
    more number of companies entering the insurance
    sector and the existing companies expanding their
    business and earning more profits. Growth in 2014
    was notable because global insurance premium beat
    GDP growth for the first time in five years.
    Emerging Asia and Latin America has achieved the
    most growth.
  • Some of the prominent trends in the global
    insurance industry include
  • Emerging markets are growing significantly more
    than the mature markets because of their lower
    penetration level and high nominal GDP growth.

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  • The penetration rate for mature markets far
    exceeds that of emerging markets and will
    continue to exceed in future since the growth
    seen in emerging markets is not enough to largely
    surpass nominal GDP growth and thus to increase
    penetration.
  • Competition in the market is rising, which is
    softening the pricing conditions and hence
    tightens the profit margins.
  • Many insurers are investing in digital platforms
    that strengthen their relationships with
    customers across all product classifications and
    geographies.
  • Most regions saw positive Life insurance growth
    in 2014, but the amount of the increase, as well
    as the factors responsible, varied by region
    Growth in the PC market held steady in 2014the
    Health segment grew 8 percent in 2014, up from 5
    percent annually in the two previous years.

7
  • Key Topics Covered in the Report
  • Category wise detailed analysis of the Israeli
    non-life insurance industry
  • Comparison of the Israeli insurance industry with
    its regional counterparts
  • comparison of the Israeli insurance industry with
    its regional counterpartsduring the review period
    (20102014) and forecast period (20142019)
  • Comprehensive overview of the Israeli economy and
    demographics
  • Analysis of distribution channels operating in
    the segment
  • Natural hazard and their impact on the Israeli
    insurance industry
  • Detailed analysis of the competitive landscape in
    the country
  • Legal system, governance and regulatory bodies.

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  • To know more on coverage, click on the link
    below
  • https//www.kenresearch.com/banking-financial-serv
    ices-and-insurance/insurance/non-life-insurance-is
    rael-key/25244-93.html
  • Related Reports
  • https//www.kenresearch.com/banking-financial-serv
    ices-and-insurance/insurance/non-life-insurance-it
    aly-opportunities-/7124-93.html
  • https//www.kenresearch.com/banking-financial-serv
    ices-and-insurance/insurance/non-life-insurance-jo
    rdan/8398-93.html
  • Contact
  • Ken Research
  • Ankur Gupta, Head Marketing Communications
  • query_at_kenresearch.com
  • 91-124-4230204

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