The International Market Analysis Research and Consulting Group is a leading adviser on management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, chemicals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
IMARC’s tailored approach combines unfathomable insight into the dynamics of companies and markets with close cooperation at all levels of the client organization. This ensures that our clients achieve unmatchable competitive advantage, build more proficient organizations, and secure lasting results.
The latest report by IMARC, titled “ CommercialInsuranceMarket:GlobalIndustryTrends,Share,Size,Growth,OpportunityandForecast 2023-2028
” finds that the global commercial insurance market size reached US$ 793.6 Billion in 2022.
Commercial insurance is a coverage for businesses and corporations designed to safeguard the organization and its employees against certain risk factors. It protects the company financially from common risks, such as employee injury, client litigation, property theft and damage, data breaches, liability lawsuits, and other unexpected events that could disrupt the business operations. It also offers more coverage due to the involvement of various physical properties compared to personal insurance. As a result, commercial insurance finds extensive applications across manufacturing, construction, healthcare, energy and utilities, and transportation industries.
Request Free Sample Report: https://www.imarcgroup.com/commercial-insurance-market/requestsample
The market is primarily driven by the growing awareness regarding the benefits of commercial insurance policies among business owners. Commercial insurance offers security for business operations, protects the company’s reputation, and ensures the well-being of its employees. In addition, the increasing number of small- and mediumsized enterprises (SMEs) across the globe represent another major growth-inducing factor. Besides this, the leading market players are adopting advanced technologies, such as machine learning (ML) and artificial intelligence (AI), to offer enhanced services like personalized and convenient insurance plans with lower premium costs and improve customer loyalty.
This, coupled with the implementation of favorable government policies to encourage employers and business owners to purchase different types of coverage, is positively influencing the market growth. Moreover, the rising number of commercial insurance providers, the increasing utilization of telematics devices across various industries, and rapid industrialization are some of the other factors propelling the market growth. Looking forward, IMARC Group expects the market value to reach US$ 1,203.7 Billion by 2028, exhibiting a CAGR of 6.86% during the forecast period (2023-2028).
Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).
MarketSummary:
BreakupbyType:
• Liability Insurance
• Commercial Motor Insurance
• Commercial Property Insurance
• Marine Insurance
• Others
BreakupbyEnterpriseSize:
• Large Enterprises
• Small and Medium-sized Enterprises
BreakupbyDistributionChannel:
• Agents and Brokers
• Direct Response
• Others
BreakupbyIndustryVertical:
• Transportation and Logistics
• Manufacturing
• Construction
• IT and Telecom
• Healthcare
• Energy and Utilities
• Others
BreakupbyRegion:
• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Latin America
• Brazil
• Mexico
• Others
• Middle East and Africa
CompetitiveLandscapewithKeyPlayers:
Allianz SE
• American International Group Inc.
• Aon plc
• Aviva plc
• Axa S.A.
• Chubb Limited
• Direct Line Insurance Group plc
• Marsh & McLennan Companies Inc.
• Willis Towers Watson Public Limited Company
• Zurich Insurance Group Ltd.
ViewFullReportwithTOC&ListofFigure:
https://www.imarcgroup.com/commercial-insurance-market
We are the trusted business partners to the world's leading corporates, governments, and institutions
We are the trusted business partners to the world's leading corporates, governments, and institutions
© 2019 IMARC All Rights Reserved
This Publication and all it’s contents unless otherwise mentioned are copyrighted in the name of International Market Analysis Research and Consulting (IMARC). No part of this publication may be reproduced, repackaged, redistributed or resold in whole or in any part. The publication may also not be used in any form or by and means graphic electronic or mechanical, including photocopying, recording, taping or by information storage or retrieval, or by any other form, without the express consent of International Market Analysis Research and Consulting (IMARC).
Disclaimer: All contents and data of this publication, including forecasts, data analysis and opinion have been based on information and sources believed to be accurate and reliable at the time of publishing. International Market Analysis Research and Consulting makes no representation of warranty of any kind as to the accuracy or completeness of any Information provided. IMARC accepts no liability whatsoever for any loss or damage resulting from opinion, errors or inaccuracies if any found this publication.
IMARC, IMARC Group and Global Therapy Insight Series are registered trademarks of International Market Analysis Research and Consulting. All other trademarks used in this publication are registered trademarks of their respective companies.
