Thank you for contacting ReportLinker and submitting your question.
This report published by Timetric in April 2015, analyzes the Global Financial Crisis and its impact on the insurance market. It shows how the insurance industry was impacted and how the markets reacted.
As with most other industries, the Global Financial Crisis had a negative impact on the insurance one, particularly in developed markets. The insurance industry in developed markets has since emerged from the crisis and is showing signs of growth. Conversely, the emerging markets were largely unaffected by the crisis and showed strong growth, which has been attributed to rises in disposable income and consumer awareness of insurance.
This report also analyzes the growth of the insurance industry in both developed and developing markets, ranging through each insurance segment by looking at the key performance indicators. It also takes a comprehensive look at the growth drivers and challenges.
It analyzes past performance and also provides a forecast for developing and developed markets. It shows how the crisis impacted the industry, with the market reacting by changing their investment strategies and parts of the industry consolidating. Technological and product innovations are also looked at in the report, to see how they have increased efficiency and improved the customer experience.
This report will enable you to understand the path to recovery that was undertaken by the insurance industry following the Global Financial Crisis. It also gives insights into the current developments of the industry as well as a forecast of the market potential. It also includes a discussion on regulation and how it is changing following the crisis. The changes in investment strategy that helped insurers remain profitable are also detailed in the report.
Globally, insurers have been making corporate deals, expanding into new markets and using economies of scale to strengthen their distribution channels. The crisis affected the profitability of underwriting in parts of the US and Europe. To compensate for these losses, insurers focused on their returns on investment. The sovereign debt crisis of Europe had a huge impact, resulting in most European countries signing a fiscal compact to consolidate spending. This policy included initiatives to reduce social security spending and encourage the public to purchase both health and life insurance. Technological innovation is now a priority with insurers, who have increased their reliance on technology across their operations, by using it to target potential customers, improve underwriting practices and strengthen distribution channels.
I hope you find this useful, and can see that there is a lot of useful information available through the portal about the financial industry. If you have any additional needs or questions about our reports, please feel free to contact us.