Fully insured: Decreasing unemployment and longer life expectancy will spur demand

The financial collapse and subsequent recession damaged industry revenue through declines in investment income and policy lapses. However, these trends have largely reversed in recent years, and revenue for the Global Life and Health Insurance Carriers industry has grown. Conditions are expected to continue improving over the next five years, as rises in disposable income levels drive demand for insurance...read more.

Industry Statistics & Market Size
Revenue
$5tr
Annual Growth 12-17
0.7%
Forecast Growth 17-22
Profit
Employment
2.6m
Businesses
41,272

Industry Threats & Opportunities

  • Improving employment and disposable income levels will drive demand for insurance
  • Emerging markets will drive increasing premiums, after regulatory charges stifled growth
  • Merger and acquisition activity is expected to intensify as insurers offload businesses
  • Industry Report - Industry Investment Chapter

    The Global Life and Health Insurance Carriers industry operates with a medium level of capital intensity. IBISWorld estimates that for every $1.00 spent on wages in 2017, the industry will allocate $0.24 in capital investment. The industry's level of capital intensity has decreased over the five-year period, as the industry allocated $0.28 in capital expenditure per dollar in wages in 2012.In the industry, labor personnel are required for sales, administrative, management and claims duties. The human resource requirements for successfully performing these functions are significant, given that a number of insurers also provide 24-hour service via call centers. Fur...purchase to read more.

    Additional Insights for the Global Life & Health Insurance Carriers Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Global Life & Health Insurance Carriers Industry are

  • Financial position of the company
  • Must comply with government regulations
  • Ability to raise revenue from additional sources
  • IBISWorld analysts also discuss how external factors such as Global unemployment rate and Per capita healthcare expenditure of OECD countries in the Global Life & Health Insurance Carriers industry impact industry performance..

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    What's in this report

    What is the Global Life & Health Insurance Carriers Industry?

    Insurers in this industry directly underwrite insurance policies relating to life, health, accident and medical risks. Underwriting insurance policies involves assuming risks and assigning premiums. Life and health insurers generate revenue, not only through the specific activity of insurance underwriting, but also by investing premiums and annuity contracts. The industry excludes social health insurance programs that are established and funded by governments.

    Industry Products
  • Health and medical insurance and pharmacy benefit management
  • Deferred and immediate annuities
  • Life insurance
  • Investment Income
  • Industry Activities
  • Underwriting annuities and life insurance policies
  • Underwriting accidental death and dismemberment insurance policies
  • Underwriting health and medical insurance policies
  • Underwriting disability income insurance policies
  • Investing insurance premiums earned in assuming risk
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Global unemployment rate
  • Per capita healthcare expenditure of OECD countries
  • Global number of adults aged 35 to 64
  • MSCI World Index
  • Global government expenditure

  • Current Performance
    Shifting landscapeRegional trendsInvestment income
  • Chart: Revenue Growth

  • Industry Outlook
    Industry activityRetirement planningInvestment Income
  • Table: Global Life & Health Insurance Carriers Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Global Life & Health Insurance Carriers Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Global Consumers

  • Key Selling Industries
  • Global Insurance Brokers & Agencies
  • Global Reinsurance Carriers

  • Products & Services
  • Deferred and immediate annuities
  • Investment Income
  • Health and medical insurance and pharmacy benefit management
  • Life insurance
  • Other
  • Chart: Global Life & Health Insurance Carriers Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Governments
  • Private individuals
  • Corporations
  • Chart: Major Market Segmentation for the Global Life & Health Insurance Carriers Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Benefit payments
  • Wages and depreciation
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Global Life & Health Insurance Carriers

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Global Life & Health Insurance Carriers Industry

  • Industry Globalization
    UnitedHealth Group, Anthem Insurance Companies Inc., MetLife Inc., Prudential Financial Inc.,
  • Table: UnitedHealth Group - financial performance
  • Table: Anthem Insurance Companies Inc. - financial performance
  • Table: MetLife Inc. - financial performance
  • Table: Prudential Financial Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Global Life & Health Insurance Carriers Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Global Life & Health Insurance Carriers Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • MSCI World Index (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Beneficiaries
  • The individuals named in a life insurance policy as the recipients of policy payments.
  • Deductible
  • The initial amount a policyholder must spend before being eligible for healthcare benefits.
  • Density
  • A measure of the per capita expenditure on a particular good or service. In the case of life insurance, it is per capita expenditure on life insurance policies.
  • Penetration
  • The aggregate expenditure on a good or service as a percentage of GDP. In the case of life insurance, it is life insurance premiums as a percentage of GDP.
  • Premium
  • The amount of money paid to acquire a certain level of insurance coverage for a specified period of time.
  • Underwriting
  • The process of measuring risk and determining the premium that needs to be paid to insure that risk.
  • What Our Customers Say

    Why buy this report?

    The global economy presents its own set of opportunities and threats for businesses in a range of industries. IBISWorld’s Global Life & Health Insurance Carriers global market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies globally and offers strategic industry analysis of the key factors influencing the market.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Global Life & Health Insurance Carriers:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Global Life & Health Insurance Carriers market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Global Life & Health Insurance Carriers, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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