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.