Microinsurance refers to the financial coverage offered to the low-income section of society. It provides compensation, products, and other services in exchange for low premium payments that are utilized for risk protection, relief against distress, and contingent events. These events include illnesses, injuries, disabilities, crop diseases, cattle damage, and fires. Microinsurance also delivers customized plans through various models, such as all-in-one insurance, full-service, partner-agent, and community-based model. They are usually administered through various institutional channels and intermediaries.
According to the latest report by IMARC Group, titled “Microinsurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global microinsurance market exhibited moderate growth during 2015-2020. On account of the aforementioned factors, the market is expected to reach a value of US$ 103.5 Billion by 2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Request Free Sample Report: https://www.imarcgroup.com/microinsurance-market/requestsample
Global Microinsurance Market Trends:
Rapid expansion in the insurance sector and the rising need for financial aid services, especially amongst the under-served sections, are majorly driving the global microinsurance market growth. Additionally, numerous organizations are deploying virtual networks and multichannel interaction platforms as an adaptable measure to provide incentives and build a value chain in the microinsurance industry. This is acting as another growth-inducing factor. Furthermore, rapid digitization and the introduction of consumer-friendly and flexible insurance models, are positively influencing the market growth.
Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/microinsurance-market
Key Market Segmentation:
Breakup by Provider:
- Microinsurance (Commercially Viable)
- Microinsurance Through Aid/Government Support
Breakup by Product Type:
- Property Insurance
- Health Insurance
- Life Insurance
- Index Insurance
- Accidental Death and Disability Insurance
Breakup by Model Type:
- Partner Agent Model
- Full-Service Model
- Provider Driven Model
- Community-Based/Mutual Model
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Competitive Landscape with Key Players:
The competitive landscape of the market has also been analyzed with the detailed profiles of the key players operating in the market.
Key highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
30 N Gould St, Ste R
Sheridan, WY (Wyoming) 82801 USA
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800