Insurance

Over a third of global insurance consumers are ready for AI, finds GlobalData

Technology is becoming increasingly indispensable to the insurance industry, whether it is using artificial Intelligence (AI) and Internet of Things (IoT) to bolster user experience or offering tech-related products such as cyber and parametric insurance. Against this backdrop, a significant proportion of global consumers are open to interacting with AI for their insurance policy, even […]

Insurance

Japan life insurance industry to surpass $371 billion in 2029, forecasts GlobalData

The Japanese life insurance industry is set to grow at a compound annual growth rate (CAGR) of 4.7% from JPY39.7 trillion ($275.8 billion) in 2024 to JPY50.0 trillion ($371.2 billion) in 2029, in terms of direct written premiums (DWP), according to GlobalData, a leading data and analytics company. GlobalData’s Insurance Database reveals that the life […]

Insurance

Taiwan general insurance industry to surpass $12 billion in 2028, forecasts GlobalData

The Taiwanese general insurance industry is set to grow at a compound annual growth rate (CAGR) of 6.8% from TWD279.8 billion ($9.0 billion) in 2024 to TWD364.2 billion ($12.2 billion) in 2028, in terms of gross written premiums (GWP), forecasts GlobalData, a leading data and analytics company. GlobalData’s Insurance Database reveals that the Taiwan general […]

Insurance

Malaysia life insurance industry to surpass $17 billion by 2028, forecasts GlobalData

The Malaysian life insurance industry is forecast to grow at a compound annual growth rate (CAGR) of 5.2% over 2024–28, from MYR63.2 billion ($13.9 billion) in 2024 to MYR77.3 billion ($17.2 billion) in 2028, in terms of direct written premiums (DWP), according to GlobalData, a leading data and analytics company. GlobalData’s Insurance Database reveals that […]

Insurance

Brazil general insurance industry to surpass $85 billion by 2028, forecasts GlobalData

The general insurance industry in Brazil is expected to grow at a compound annual growth rate (CAGR) of 8.8% from BRL307.3 billion ($61.6 billion) to BRL430.7 billion ($85.7 billion), in terms of direct written premiums (DWP), forecasts GlobalData, a leading data and analytics company. GlobalData’s Insurance Database reveals that Brazil’s general insurance industry is expected […]

Insurance

Japan general insurance industry to reach $93.9 billion by 2028, forecasts GlobalData

The Japanese general insurance industry is set to grow at a compound annual growth rate (CAGR) of 2.2% from JPY11.7 trillion ($81.1 billion) in 2024 to JPY12.7 trillion ($93.9 billion) in 2028, in terms of gross written premiums (GWP), forecasts GlobalData, a leading data and analytics company. GlobalData’s Insurance Database reveals that the Japan general […]

Insurance

Philippines life insurance industry to surpass $7 billion by 2028, forecasts GlobalData

The Philippine life insurance industry is forecast to grow at a compound annual growth rate (CAGR) of 5.4% from PHP319.8 billion ($5.8 billion) in 2024 to PHP395 billion ($7.1 billion) in 2028, in terms of net written premiums (NWP), according to GlobalData, a leading data, and analytics company. According to GlobalData’s Insurance Database, the life […]

Insurance

South Africa general insurance industry to surpass $11 billion in 2028, forecasts GlobalData

The South African general insurance industry is set to grow at a compound annual growth rate (CAGR) of 5.8% from ZAR181.5 billion ($9.8 billion) in 2024 to ZAR227.6 billion ($11.2 billion) in 2028, in terms of gross written premiums (GWP), forecasts GlobalData, a leading data and analytics company. GlobalData’s Insurance Database reveals that the South […]

Insurance

Thailand life insurance industry to surpass $23 billion by 2028, forecasts GlobalData

Thailand’s life insurance industry is set to grow at a compound annual growth rate (CAGR) of 4.4% from THB660.4 billion ($19.2 billion) in 2024 to THB781.7 billion ($23.1 billion) in 2028, in terms of gross written premiums (GWP), forecasts GlobalData, a leading data and analytics company. According to GlobalData’s Insurance database, Thailand’s life insurance industry […]

Insurance

Malaysia motor insurance industry to reach $3.1 billion by 2028, forecasts GlobalData

The Malaysian motor insurance market is set to grow at a compound annual growth rate (CAGR) of 7.5% from MYR10.6 billion ($2.3 billion) in 2024 to MYR14.2 billion ($3.1 billion) in 2028, in terms of gross written premiums, forecasts GlobalData, a leading data and analytics company. GlobalData’s Insurance Database reveals that motor insurance is expected to […]

Insurance

Cyber risk the standout global challenge for insurance industry, says GlobalData

Cyber risk is now deemed the most significant threat to the insurance industry, surpassing natural catastrophes and political risks, according to insurance insiders. With cyberattacks on the rise post-COVID-19, insurers face mounting pressure to enhance proactive risk management and convince businesses of the critical need for robust cyber protection strategies, says GlobalData, a leading data […]

Insurance

APAC property insurance industry to surpass $152 billion by 2028, forecasts GlobalData

The property insurance industry in the Asia-Pacific (APAC) region is projected to grow at a compound annual growth rate (CAGR) of 10.8% from an estimated $93.1 billion in 2023 to $152.2 billion in 2028, in terms of written premiums, according to GlobalData, a leading data and analytics company. According to GlobalData’s latest report, “Property Insurance […]

Insurance

India health insurance industry to surpass $23 billion by 2028, forecasts GlobalData

The Indian health insurance industry is set to grow at a compound annual growth rate (CAGR) of 12.8% from INR1.3 trillion ($15.1 billion) in 2024 to INR2.0 trillion ($23.8 billion) in 2028, in terms of gross written premiums (GWP), forecasts GlobalData, a leading data and analytics company. GlobalData’s Insurance Database reveals that the share of […]

Insurance

Insurance industry sees surge in clean energy and carbon capture patents, reveals GlobalData

The insurance industry is witnessing a significant surge in patents related to clean energy insurance and carbon capture, reflecting a strategic shift towards supporting sustainable energy initiatives. With the first half (H1) of 2024 patents data showing promising results for the year and notable collaborations like Zurich Insurance Group and Aon for hydrogen projects, the […]

Insurance

Russia general insurance industry to reach $26.9 billion by 2028, forecasts GlobalData

The Russian general insurance industry is set to grow at a compound annual growth rate (CAGR) of 8% from RUB1.8 trillion ($20.9 billion) in 2024 to RUB2.5 trillion ($26.9 billion) in 2028, in terms of gross written premiums (GWP), forecasts GlobalData, a leading data and analytics company. GlobalData’s Insurance Database reveals that the general insurance […]

Insurance

Demand for new energy vehicles to drive growth in Chinese motor insurance market, says GlobalData

The Chinese motor insurance market is set to grow at a compound annual growth rate (CAGR) of 5.4% from CNY912.2 billion ($127.4 billion) in 2024 to CNY1.1 trillion ($158.9 billion) in 2028, driven by rising vehicle sales and the growing popularity of new energy vehicles (NEV), forecasts GlobalData, a leading data and analytics company. GlobalData’s […]

Insurance

Mental wellbeing top concern for nearly three quarters of consumers globally, urging insurers to prioritize mental health support, says GlobalData

Concerning levels of mental wellbeing have been identified among selected countries, underscoring the need for intervention and attention in this critical area. This emphasizes the role of insurers and employers in addressing these concerns to enhance overall consumer wellbeing. Nearly three quarters of consumers globally see mental wellbeing as their top concern, according to a […]

Insurance

UK election manifestos unlikely to alter demand for private medical insurance, says GlobalData

Following the news that the Conservative Party and Labour, among other political parties, are putting the NHS at the heart of their manifestos ahead of the upcoming UK general election; Beatriz Benito, Lead Insurance Analyst at GlobalData, a leading data and analytics company, offers her view: “The demand for private medical insurance (PMI) will not […]

Insurance

Philippines general insurance industry to reach $3.8 billion in 2028, forecasts GlobalData

The Philippines’ general insurance industry is set to grow at a compound annual growth rate (CAGR) of 9.5% from PHP145.4 billion ($2.6 billion) in 2024 to PHP209.0 billion ($3.8 billion) in 2028, in terms of gross written premiums (GWP), forecasts GlobalData, a leading data and analytics company. GlobalData’s Insurance Database reveals that the Philippines’ general […]

Insurance

Thailand general insurance industry to reach $10.9 billion by 2028, forecasts GlobalData

The Thailand general insurance industry is forecast to grow at a compound annual growth rate (CAGR) of 4.5% over 2024–28, from THB310.9 billion ($9 billion) in 2024 to THB370.8 billion ($10.9 billion) in 2028, in terms of gross written premiums (GWP), according to GlobalData, a leading data and analytics company. GlobalData’s Insurance Database reveals that […]

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Insurance

Over a third of global insurance consumers are ready for AI, finds GlobalData

Japan life insurance industry to surpass $371 billion in 2029, forecasts GlobalData

Taiwan general insurance industry to surpass $12 billion in 2028, forecasts GlobalData

Malaysia life insurance industry to surpass $17 billion by 2028, forecasts GlobalData

Brazil general insurance industry to surpass $85 billion by 2028, forecasts GlobalData

Japan general insurance industry to reach $93.9 billion by 2028, forecasts GlobalData

Philippines life insurance industry to surpass $7 billion by 2028, forecasts GlobalData

South Africa general insurance industry to surpass $11 billion in 2028, forecasts GlobalData

Thailand life insurance industry to surpass $23 billion by 2028, forecasts GlobalData

Malaysia motor insurance industry to reach $3.1 billion by 2028, forecasts GlobalData

Cyber risk the standout global challenge for insurance industry, says GlobalData

APAC property insurance industry to surpass $152 billion by 2028, forecasts GlobalData

India health insurance industry to surpass $23 billion by 2028, forecasts GlobalData

Insurance industry sees surge in clean energy and carbon capture patents, reveals GlobalData

Russia general insurance industry to reach $26.9 billion by 2028, forecasts GlobalData

Demand for new energy vehicles to drive growth in Chinese motor insurance market, says GlobalData

Mental wellbeing top concern for nearly three quarters of consumers globally, urging insurers to prioritize mental health support, says GlobalData

UK election manifestos unlikely to alter demand for private medical insurance, says GlobalData

Philippines general insurance industry to reach $3.8 billion in 2028, forecasts GlobalData

Thailand general insurance industry to reach $10.9 billion by 2028, forecasts GlobalData

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