Industry Analysis & Industry Trends
Gains in both policy volumes and premium prices have spurred revenue growth for the Boat Insurance industry over the five years to 2015. The market for boat insurers has been impacted by distinct demographic changes over the period, as aging baby boomers have become increasingly interested in boats as they retire. Continued increases in boat ownership and premium prices over the next five years are expected to sustain the industry's growth. Additionally, anticipated economic improvements over the five years to 2020 will bolster the industry's investment income.... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Boat Insurance industry is in the mature stage of its economic life cycle; this stage is characterized by relatively few changes in product lines and increased merger and acquisition activity. Industry value added (IVA), which measures an industry's contribution to the overall economy, is expected to increase at an annualized rate of 1.9% during the 10 years to 2020. In contrast, US GDP is projected to grow at an annualized rate of 2.5% during the same period. Typically, an industry is considered to be in the mature phase of its life cycle when growth in IVA trends with GDP growth over a 10-year period.
The industry offers a range of boat coverage options, including liability, collision and comprehensive insurance products... purchase to read more