According to HTF MI, “Global Personal Accident Insurance Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2030”. The Global Personal Accident Insurance Market is anticipated to grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2030, reaching USD 81.5 Million in 2024 and USD 95.8 Million by 2030.
Personal Accident Insurance is a type of insurance coverage that provides financial protection in the event of an accident resulting in bodily injury, disability, or death. It offers compensation for medical expenses, loss of income, and other related costs associated with the accident.
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Key and developing players who have been highlighted as part of the coverage include Allianz, AXA, AIG, Liberty Mutual, Berkshire Hathaway Inc, PICC, New York Life, HarthFord, Zurich, Ping An Insurance, Aegon, Allstate.
Personal Accident Insurance
Market Breakdown by Applications:
- Personal Injury Claims, Road Traffic Accidents, Work Accidents
Market Breakdown by Types:
- Personal Use, Enterprise Use
Market Drivers
- Growing Risk Awareness: Increasing awareness of the financial risks associated with accidents and the need for adequate protection is driving the demand for personal accident insurance.
Market Trend
- Increasing Awareness: There is a growing awareness among individuals about the importance of personal accident insurance, leading to increased demand for such policies.
Market Opportunities
- Untapped Markets: There are untapped markets in developing countries where personal accident insurance penetration is relatively low, presenting opportunities for insurance providers to expand their customer base.
Market Restraints
- Strict regulation and longer time for claim reimbursement
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Key Market Segmentation:
The report has categorized the Personal Accident Insurance market based on type, distribution channel, and region.
Report Scope
The Market size value in 2024 (USD 81.5 Million)
Revenue Forecast by 2033 (USD 95.8 Million)
Growth Rate CAGR Of (5.2%)
Historical Years (2019-2023)
Base Year (2023)
Estimated Year (2024)
Short-Term Projection Year (2030)
Regions Covered (North America, Europe, the Middle East and Africa, Latin America, and the rest of the world)
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Note: With the help of the Growth Overview Charts, Historical Period Analysis, Forecast Period Analysis, Main Market Segmentation, Leading Key Market Players, TOC, List of Figures, and List of Tables in this report, you can get a thorough overview of the market.
Competitive Landscape:
Along with studying the profiles of the key players, the industry’s competitive environment has also been examined. Players profiled are Allianz, AXA, AIG, Liberty Mutual, Berkshire Hathaway Inc, PICC, New York Life, HarthFord, Zurich, Ping An Insurance, Aegon, Allstate
Key highlights of the report:
- Personal Accident Insurance Market Performance (2019-2023)
- Personal Accident Insurance Market Outlook (2024-2030)
- Personal Accident Insurance Market Trends
- Personal Accident Insurance Market Drivers and Success Factors
- SWOT Analysis
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
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