Key Trends and Opportunities in UAE Insurance Industry to 2016

The United Arab Emirates (UAE) is the largest insurance industry in the Gulf Corporation Council (GCC) region. The industry is highly fragmented and comprises a large number of domestic and foreign competitors, which mostly cater to the insurance requirements of expatriate population. The Dubai International Financial Centre (DIFC), an onshore free financial zone, has developed as an important hub for foreign insurance companies to access the UAE’s industry. Non-life is the main segment in the industry with share of 57% of gross written premium in 2011. Over the forecast period, expansion of the non-oil sector, a rising young population, construction activity and the growth of the real estate market will support industry expansion. The introduction of compulsory health insurance has attracted the attention of the regional insurers. In Abu Dhabi, health insurance is mandatory for all expatriates and UAE nationals working or living in the emirate.

Scope
This report provides a comprehensive analysis of the insurance industry in UAE:

• It provides historical values for UAE insurance industry for the report’s 2007–2011 review period and forecast figures for the 2011–2016 forecast period
• It offers a detailed analysis of the key segments and sub-segments in UAE insurance industry, along with forecasts until 2016
• It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions
• It profiles the top insurance companies in UAE, and outlines the key regulations affecting them

Synopsis
The report provides in-depth industry analysis, information and insights of the insurance industry in the UAE, including:

• The UAE insurance industry’s growth prospects by insurance segments and sub-segments
• The competitive landscape in the UAE insurance industry
• The current trends and drivers of the UAE insurance industry
• The challenges facing the UAE insurance industry

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Report Details:
Published: December 2012
No. of Pages: 221
Price:Single user License:US$1950 Corporate User License:US$3900

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Reasons To Buy

• Make strategic business decisions using in-depth historic and forecast industry data related in the UAE insurance industry and each segment within it
• Understand the demand-side dynamics, key trends and growth opportunities within the UAE insurance industry
• Assess the competitive dynamics in the the UAE insurance industry
• Identify the growth opportunities and market dynamics within key segments
• Gain insights into key regulations governing the UAE insurance industry and their impact on companies and the industry''s future

Key Highlights

• The United Arab Emirates (UAE) is the largest insurance industry in the Gulf Corporation Council (GCC) region
• The industry is highly fragmented and comprises a large number of domestic and foreign competitors, which mostly cater to the insurance requirements of the expatriate population
• The Dubai International Financial Centre (DIFC), an onshore free financial zone, has developed as an important hub for foreign insurance companies to access the UAE’s industry
• Non-life is the main segment in the industry with a 57% share of the gross written premium in 2011
• Over the forecast period, expansion of the non-oil sector, a rising young population, construction activity and the growth of the real estate market will support industry expansion
• The introduction of compulsory health insurance has attracted the attention of the regional insurers. In Abu Dhabi, health insurance is mandatory for all expatriates and UAE nationals working or living in the UAE 

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Israel Insurance Industry Key Trends and Opportunities to 2016

The Israeli insurance industry grew in gross written premium value at a compounded annual growth rate (CAGR) of 5.9% during the review period. The top ten insurance companies accounted for 92.0% of the overall gross written premium in 2011, making the Israeli insurance industry highly concentrated. Overall, Migdal led the Israeli insurance industry in the review period. In Israel, 90% of the insurance products were sold by brokers and agents in 2011. Given Israel’s heavy dependence on trade with the US, the US stock market’s fall significantly affected Israel’s economic and financial situation during the recession.

Scope
This report provides a comprehensive analysis of the insurance market in Israel:
• It provides historical values for the Israeli insurance market for the report’s 2007–2011 review period and forecast figures for the 2012–2016 forecast period
• It offers a detailed analysis of the key segments and sub-segments in the Israeli insurance market, along with market forecasts until 2016
• It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions
• It profiles the top insurance companies in Israel and outlines the key regulations affecting them

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Report Details:
Published: November 2012
No. of Pages: 124
Price:Single User License:US$1950 Corporate User License:US$3900



Reasons To Buy
• Make strategic business decisions using in depth historic and forecast market data related in the Israeli insurance industry and each segment within it
• Understand the demand-side dynamics, key market trends and growth opportunities within the Israeli insurance market
• Assess the competitive dynamics in the Israeli insurance market
• Identify the growth opportunities and market dynamics within key segments
• Gain insights into key regulations governing the Israeli insurance market and its impact on companies and the industry''s future

Key Highlights
• The Israeli insurance industry grew in gross written premium value at a compounded annual growth rate (CAGR) of 5.9% during the review period.
• The top ten insurance companies accounted for 92% of the overall gross written premium in 2011, making the Israeli insurance industry highly concentrated.
• In Israel, 90% of the insurance products were sold by brokers and agents in 2011.
• Given Israel’s heavy dependence on trade with the US, the US stock market’s fall significantly affected Israel’s economic and financial situation during the recession.

Non-Life Insurance in Malaysia, Key Trends and Opportunities to 2016

The report provides in depth market analysis, information and insights into the Malaysian non-life insurance market, including:

• The Malaysian non-life insurance market’s growth prospects by non-life insurance categories
• The various distribution channels in the Malaysian non-life insurance market
• The competitive landscape in the non-life insurance market in Malaysia
• A description of the non-life reinsurance market in Malaysia

Executive summary

The expansion of the Malaysian non-life insurance segment was strongly influenced by the country’s GDP growth and the increasing penetration rate of the Malaysian insurance industry. Moreover, the growth of the industry is also expected to be driven by increased risk awareness and propensity for risk avoidance among the Malaysian population. The growth of the country’s property and automobile industries, rising employment levels and anticipated industrial growth over the forecast period are also expected to drive the growth of the non-life insurance segment. In 2011, the motor insurance category accounted for the largest proportion of the Malaysian non-life segment.

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Report Details:
Published: October 2012
No. of Pages: 257
Price:Single User License:US$1950 Corporate User License:US$3900



Scope
This report provides a comprehensive analysis of the non-life insurance market in Malaysia:

• It provides historical values for Malaysia’s non-life insurance market for the report’s 2007–2011 review period and forecast figures for the 2012–2016 forecast period
• It offers a detailed analysis of the key sub-segments in Malaysia’s non-life insurance market, along with market forecasts until 2016
• It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
• It analyses the various distribution channels for non-life insurance products in Malaysia
• Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in Malaysia for the non-life insurance business
• It provides a detailed analysis of the reinsurance market in Malaysia and its growth prospects
• It profiles the top non-life insurance companies in Malaysia and outlines the key regulations affecting them

Key highlights

• The expansion of the Malaysian non-life insurance segment was strongly influenced by the country’s GDP growth and the increasing penetration rate of the Malaysian insurance industry.
• In 2011, the motor insurance category accounted for the largest proportion of the Malaysian non-life segment.
• The growth of the industry is also expected to be driven by increased risk awareness and the propensity for risk avoidance among the Malaysian population.
• Although the agencies distribution channel dominates Malaysian non-life insurance, bancassurance is expected to record the strongest growth over the forecast period.

Reasons to buy

• Make strategic business decisions using historic and forecast market data related to the Malaysian non-life insurance market and each sector within it
• Understand the demand-side dynamics, key market trends and growth opportunities within the Malaysian non-life insurance market
• Assess the competitive dynamics in the non-life insurance market, along with the reinsurance segment
• Identify the growth opportunities and market dynamics within key product categories
• Gain insights into key regulations governing the Malaysian insurance market and its impact on companies and the market's future

South Korean Motor Insurance Emerging Market and Investment Opportunities to 2016

Scope

This report provides a comprehensive analysis of the motor insurance industry in South Korea

• It provides historical values for the South Korean motor insurance industry for the report’s 2007–2011 review period and forecast figures for the 2012–2016 forecast period
• It offers a detailed analysis of the key markets in the South Korean motor insurance industry, along with market forecasts until 2016
• It details the different macroeconomic factors affecting the motor insurance industry in South Korea
• It covers an exhaustive summary on the key trends and drivers affecting the motor insurance industry
• It outlines the current regulatory framework in the industry
• It details the business and operations strategy used by various South Korean motor insurance companies
• It profiles the major insurers in the South Korean motor insurance industry

Synopsis

The report provides top-level market analysis, information and insights into the South Korean motor insurance industry, including:

• Current, historic and forecast values for the South Korean motor insurance industry
• Comprehensive, country-specific analysis of the industry’s market attractiveness, covering key trends and drivers, plus benchmarking with other key markets
• Detailed analysis of the business and operations strategy used by various motor insurers in the market, including marketing strategy and social media strategy
• Detailed analysis of the challenges affecting the South Korean motor insurance industry
• Company profiles of the major insurers in the South Korean motor insurance market

South Korean Motor Insurance Emerging Market

Published: March 2012
No. of Pages:49
Price: Single User License: US$ 1900 Corporate User License: US$ 3900



The South Korean motor insurance category is growing steadily due to the introduction of mandatory motor liability insurance policies and the country’s rising number of passenger car sales. According to South Korean law, all car users must purchase compulsory automobile liability insurance (CALI) which provides insurance cover against physical injury or death caused to a third party in a road accident. The implementation of the mandatory motor insurance policy has been one of the main growth drivers for South Korean motor insurance during the review period. Furthermore, the South Korean government has passed several support schemes to encourage consumer spending and support the expansion of the country’s automobile industry during the review period. The government’s support schemes include multiple tax benefits for consumers who buy new cars and trade in vehicle models bought prior to 1999. This drove the South Korean motor insurance category growth during the review period.


Reasons To Buy

• Make strategic business decisions using top-level historic and forecast market data related to the South Korean motor insurance industry and each market within it
• Understand the key market trends and growth opportunities within the South Korean motor insurance industry
• Assess the competitive dynamics in the South Korean motor insurance industry
• Gain insights into the business and operations strategies used by South Korean motor insurers
• Gain insights into key regulations governing the South Korean motor insurance industry

ICT Adoption in Insurance Industry in India 2012

ICT adoption in India's Insurance Industry is expected to witness a dynamic growth in the ensuing years. Currently, the adoption of ICT in insurance industry is undergoing through a dynamic growth rate owing to the growing complexities arising from huge customer base. Insurers primarily implement technology in the areas of customer service, data analytics and process management.

With the ongoing growth in customer base and daily transactions, insurers in India are gradually shifting their focus towards the adoption of ICT oriented tools, services and platforms. Till now, the ICT adoption in insurance industry has occurred in a phased manner, wherein it has exhibited a steady but impressive growth rate over the years. ‘Judging by the current scenario in the market, ICT spending by insurers in India stood at INR 76.17 bn in 2011 and is anticipated to grow at a CAGR of around 14% till 2015,” says Mr. Kalyan Banga, Product Manager at Netscribes. Maturing along with technology standards, the current ICT landscape within the insurance industry can be associated with rising demand and cut throat competition amongst the ICT vendors. Types and attributes of the solutions that experiences the most demand within the insurance sector have also changed over the years. “Primarily, technologies focused to provide better customer services are preferred the most. Analysis of colossal amount of data and information along with generating insights from these data are also experiencing exponential surge in demand. Advancement in the field of mobile technology and the immense popularity of social networking sites has also grabbed the attention of industry significantly,” noted Kalyan.

The report begins with a snapshot of the insurance industry which briefs about the facts and figures of insurers operating in India. It lists down the number of insurers operating in the sector along with the segmentation of public and private insurers. Hierarchy of the Indian insurance industry is well illustrated for which gives a brief highlight about the operational model of the industry. It also enlists the primary drivers and challenges for the overall insurance industry. “Primary reasons to propel the market forward comprises of young consumer segment, wide range of products, technological advancement and growing middle class, whereas the basic challenges faced by the sector are the tight premium rates and dependence on overseas re-insurers,” says Kalyan. Moving along the report features a section on the ICT in Insurance wherein the growth rate and spending on ICT is enlisted in great details. “IT spending basically comprises the costs associated with hardware, software and services while the telecom services mainly includes support and services,” added Kalyan. The report covers an explicit break up of IT expenses of insurers in terms of hardware, software and services.

ICT in Insurance Industry

Published: February 2012
No. of Pages:392
Price : Single User License - US$200

This section is followed by the Key Technology section which enlightens the readers about the major tools and services currently being used. For the better understanding of these tools, architectural diagrams have also been included. Further, the government initiatives pertaining to technology have also been listed to give a brief idea about the main functional areas bounded by regulations. Technological barriers and benefits prevailing in the industry have been covered under the drivers and challenges section.

Trends identified in the technology domain have been summarized in the following section named, trends in the insurance industry. “As of now, the trend in the sector is to target the mass audience, facilitate seamless flow of data within the company and reducing the total cost of ownership,” noted Kalyan.

Key ICT vendors have been profiled in details within the report which enables readers to get a clear picture of the current competitive scenario. The section lists the basic details of the players such as corporate information, business highlights and key members. The section also features financial analysis of all ICT players which in turn provides us with the financial health of players. To derive at a better understanding of these companies, SWOT analysis of individual companies has also been included.

Moving along the report features a section on IT landscape of India insurers which has been derived after an extensive primary and secondary research and analysis. The section talks about the IT infrastructure of all insurance companies operating in India. Technology implementation portion in this segment lists down all existing IT infrastructure in great detail.

The report concludes with a section on strategic recommendations which comprises of an analysis of the growth strategies of the ICT adoption in insurance industry in India.

IT Landscape of Insurance Players in India 2012

IT landscape seen amongst insurers in India exhibit a typical trend wherein they primarily tend to focus more on tools, solutions and services which can cater to the needs of growing customer base, offer better and enhanced customer service, enhance their market reach and generate a seam less flow of data and information within the company.

The report begins with a snapshot of the insurance industry which briefs about the facts and figures of insurers operating in India. It lists down the number of insurers operating in the sector along with the segmentation of public and private insurers. Hierarchy of the Indian insurance industry is well illustrated for which gives a brief highlight about the operational model of the industry. It also enlists the primary drivers and challenges for the overall insurance industry. Primary reasons to propel the market forward comprises of young consumer segment, wide range of products, technological advancement and growing middle class, whereas the basic challenges faced by the sector are the tight premium rates and dependence on overseas re-insurers.

India IT Landscape Insurance Market

Published: February 2012
No. of Pages: 302
Price : Single User License - US$1500

Moving along the report features a section on IT landscape of Indian insurers. The section talks about the IT infrastructure of all insurance companies viz. General Insurers, Life Insurers and Health Insurers operating in India. Technology implementation portion in this segment lists down all existing IT infrastructure in great detail. It primarily elaborates on the type of requirements, solutions adopted and the benefits realized thereafter. The section also features a sales intelligence section which enlists the relevant key point of contact of the respective organizations.

Table of Contents
Page 1: Executive summary
Insurance Industry - Snapshot
Page 2: Indian Insurers – History
Page 3: Insurance Industry – Snapshot (India), Registered Insurers – India (2011), Life and Non-Life Insurance Market Share (2009-10 & 2010-11)
Page 4: Insurance Industry Hierarchy – Illustration
Page 5: Insurance Industry – Drivers
Page 6: Insurance Industry - Challenges
ICT Landscape – Indian Insurers
Page 7-302: Indian Insurance Players – General Insurers, Life Insurers and Health Insurers (Corporate Information, Business Highlights, Products and Services, ICT Implemented and Sales Intelligence)