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

The Colombian non-life insurance segment demonstrated strong growth during the review period. This was largely generated from the impressive growth of the motor insurance category, which benefited from the country’s rising automobile sales and compulsory third-party liability motor insurance. The Colombian government is planning to triple its current investment on infrastructure by 2014. This investment will be spent on developing roads, buildings, energy and transportation, and will provide opportunities for commercial property and motor insurance providers to capitalize on over the forecast period.

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

• It provides historical values for the Colombian 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 the Colombian 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 Colombia
• Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in Colombia for the non-life insurance business
• It provides a detailed analysis of the reinsurance market in Colombia and its growth prospects
• It profiles the top non-life insurance companies in Colombia and outlines the key regulations affecting them 

Buy your copy of this report @ http://www.reportsnreports.com/reports/168363-non-life-insurance-in-colombia-key-trends-and-opportunities-to-2016.html

Report Details

Published: June 2012
No. of Pages: 260
Price: Single user License: US$ 1950    Corporate User License: US$ 5850


Key highlights

• Infrastructure development is essential for Colombia’s economic growth. This has been identified by the country’s government and, as a result, the government increased its focus on infrastructure development during the review period.
• The rising level of non-life insurance fraud and crimes, especially in the motor insurance category, has constrained the growth of the insurance segment. The problem of insurance fraud is considered to be much greater in Colombia than in other South American countries.
• The main reason for the large size of the motor insurance category is the country’s robust automobile industry performance and compulsory nature of motor third-party liability insurance. The demand for automobiles increased as Colombians registered rising disposable income levels, some of which was spent on automobiles.
• Despite these opportunities for growth, there are a few challenges that could adversely affect Colombian non-life insurance development.
• The Colombian insurance industry is one of the largest in Latin America and it contains both domestic and foreign insurers. In 2011, 25 companies were licensed to conduct non-life insurance business operations in Colombia.

Reasons to buy

• Make strategic business decisions using in depth historic and forecast market data related to the Colombian non-life insurance market and each sector within it
• Understand the demand-side dynamics, key market trends and growth opportunities within the Colombian 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 Colombian insurance market and its impact on companies and the market's future

A Global Strategy for Vehicle Identification

What is the best method of vehicle identification to improve the chances of recovery after theft?
Some vehicles are stolen for use in a further crime, some to be broken for parts, and some are stolen to be sold - either within the same country or shipped overseas.

When a vehicle is stolen to be sold, the criminals need to change the vehicle identification if they are to avoid being traced or caught handling a stolen vehicle. This means fooling any second hand buyer of the vehicle, and potentially police investigators, into believing that all the identification is genuine.

Thieves have therefore built up a large awareness and skill level in changing the common identification marks such as the VIN plate, chassis stamp or additional VIN labels that are required by legislation.

Insurance companies provide some incentive for alternative identification through the offer of insurance premium discounts for approved marking systems. National governments also investigate alternatives such as microdots for new legislation, but these schemes rarely reach the market due to the cost implications.

The pressure is therefore on vehicle manufacturers to provide improved identification on new vehicles, but this comes at huge cost to the manufacturer, and it’s the manufacturer that gains least from the benefits - no vehicle is sold to a customer on the strength of its identification markings.

Manufacturers, and thieves, also know that not all forms of identification will be checked in any investigation - especially where covert markings may be difficult to reach or require significant time and specialist equipment to read.

If the markings aren’t checked then they give no benefit to the police, insurers, vehicle manufacturers or vehicle owners.

Police expertise is falling as a result of stolen vehicle investigation units being closed down around the world and thieves know they only need to make basic identification changes to avoid capture.

Strategy for Vehicle Identification Market

Published: February 2012
No. of Pages:
Price : Single User License - US$1854


Vehicle manufacturers are faced with a challenge - what level of vehicle identification to offer in order to meet varied global legislation and insurance requirements, without incurring cost and often in the absence of clear customer benefits. To make the right decision, manufacturers will have to consider the benefits and features of various methods and techniques, understand the cost of implementation and learn what investigators prefer and what methods act as the largest deterrent for thieves.

This report is a single authoritative source that will ensure you are fully informed about different vehicle identification strategies. It includes a global overview of performance and approval criteria and examples of what thieves are doing to remove or replace the carefully placed markings. All mandatory and optional markings are explained, including additional techniques available to vehicle manufacturers as line fit or aftermarket products. Cost, tamper resistance and usefulness to an investigator are evaluated and compared for each available solution to provide manufacturers with a guide to choose the best one.

It’s getting easier for the criminals.

The challenge is therefore to find and fit vehicle identification that thieves either don’t know about or can’t easily change, that investigators and the public can easily check, and that proves cost effective for the vehicle manufacturer.

This report analyses the various types and forms of vehicle identification, from simple vehicle registration plates or chassis stamps, to sophisticated electronic traceability of parts, rating each in the areas of additional cost, tamper resistance and usefulness for investigation, building a clear strategy for vehicle identification that satisfies the demand.



This report will help you:
Ensure your vehicle remains secure by understanding how thieves overcome existing identification techniques;
Learn about legislation for vehicle identification across the world and how to meet the varied requirements;
Decide on which technology to invest in by analysing the different methods and their features and implementation costs;
Gain SBD expert recommendations for building a successful vehicle identification strategy.