Forecast: Gross Incurred Claims of Property Insurance in Germany

The forecasted gross incurred claims for property insurance in Germany are predicted to rise steadily from 2024 to 2028, reaching approximately 15.59 billion euros by 2028. The year-on-year growth rates from 2024 to 2028 suggest moderate increases, averaging around 1.5% annually. In comparison to 2023, where the gross incurred claims stood at 14.65 billion euros, these forecasts indicate a trend of consistent growth in incurred claims over the following years.

Future trends to watch for:

• The impact of climate change on property insurance claims due to increased frequency and severity of natural disasters.
• The influence of new technologies such as IoT and advanced analytics on risk assessment and claims processing efficiency.
• Changes in regulatory environments that may affect pricing and claim management practices in Germany.