Overview

Well insured: Rising employment and corporate profit are expected to benefit the industry

The Disability Insurance market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

REPORT SNAPSHOT

Industry Threats & Opportunities

  • An anticipated increase in employer-sponsored coverage is expected to boost industry revenue
  • The industry benefited from a falling unemployment rate
  • Rising demand for disability insurance is expected to boost this industry’s demand for labor

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    Industry Analysis & Industry Trends

    The Disability Insurance industry provides long-term and short-term disability insurance. Over the past five years, this industry has gained greater market penetration. Declining unemployment and relatively higher awareness of the consequences of disability have fueled industry revenue growth. In the coming years, this industry is expected to grow more slowly and closer to its historical average. By 2021, the industry is expected to consolidate and operators are likely to increase their capital expenditure to achieve greater operational efficiencies...

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    Industry Report - Industry Key Buyers Chapter

    The Disability Insurance industry has a moderate level of market share concentration in 2014, with the top four major players expected to account for 45.2% of total industry revenue. The four largest operators typically benefit from having strong brand recognition, in addition to benefiting from economies of scale. Because the industry primarily competes on price, industry operators that are able to distribute their fixed costs among several facilities stand to benefit the most. These operators typically pass on the additional savings to consumers in the form of lower premiums, which bolsters demand. Moreover, large operators typically benefit from having a wider distribution network of agents and brokers.

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    Additional Insights for the Disability Insurance Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Disability Insurance Industry are

  • Financial strength
  • Must comply with government regulations
  • Effective asset management
  • IBISWorld analysts also discuss how external factors such as Investor uncertainty and Number of employees in the Disability Insurance industry impact industry performance..

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    Look under the hood?

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    Industry Products

    What is the Disability Insurance Industry?

    This industry underwrites (i.e. assuming the risk and assigning premiums) disability insurance policies. Disability insurance insures the beneficiary’s earned income against the risk that a disability will render them unable to find full-time work in their chosen field. However, if an insured individual is deemed capable of working part time in a different field, they may not realize the full benefit of the insurance policy.

    Industry Products
    Noncancellable
    Guaranteed renewable
    Buy-sell
    Industry Activities
    Underwriting short-term disability insurance policies
    Underwriting long-term disability insurance policies

    Table of Contents

    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Investor uncertainty
  • Number of employees
  • Yield on 10-year Treasury note
  • Corporate profit
  • Per capita disposable income
  • S&P 500
  • Median age of population

  • Current Performance
  • Misconceptions of disability
  • Growth opportunities
  • Operational efficiencies and profitability
  • Chart: Revenue Growth

  • Industry Outlook
  • Landscape changes
  • Generating awareness
  • Table: Disability Insurance Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Disability Insurance Industry Lifecycle vs The Economy

  • Products & Markets
    Supply Chains
    Key Buying Industries
  • Manufacturing
  • Consumers

  • Key Selling Industries
  • Insurance Brokers & Agencies
  • Third-Party Administrators & Insurance Claims Adjusters

  • Products & Services
  • Noncancellable
  • Guaranteed renewable
  • Buy-sell
  • Chart: Disability Insurance Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Individuals aged 64 and over
  • Individuals aged 18 to 64
  • Individuals aged 17 and under
  • Chart: Major Market Segmentation for the Disability Insurance Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages and commissions
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Disability Insurance

  • Basis of Competition
    Internal competitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Disability Insurance Industry

  • Industry Globalization
    Major Companies
    UnitedHealth Group Inc.Anthem Insurance Companies Inc.Unum GroupAetna Inc. MetLife Inc.
  • Table: UnitedHealth Group Inc. - financial performance
  • Table: Anthem Insurance Companies Inc. - financial performance
  • Table: Unum Group - financial performance
  • Table: Aetna Inc. - financial performance
  • Table: MetLife Inc. - financial performance

  • Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Disability Insurance Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

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

  • Regulation & Policy
    Industry Assistance
    Key Statistics
    Table: Industry Data for the Disability Insurance Industry
    Includes:
  • Industry Revenue (2007-2021)
  • Industry Gross Product (2007-2021)
  • Establishments (2007-2021)
  • Businesses (2007-2021)
  • Employment (2007-2021)
  • Wages (2007-2021)
  • Number of work-related deaths (2007-2021)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Jargon & Glossary
    Elimination Period
  • The period in which an individual sustains an injury or illness and receives benefit payments from an insurer.
  • Federal Funds Rate
  • The Federal Funds Rate refers to the interest rate at which banks lend to each other, their balances held at the Federal Reserve, usually for an overnight period on an uncollateralized basis.
  • Idiosyncratic Risk
  • Risk that is specific to an asset class. It has little or no correlation with the market risk and hence can be eliminated from a portfolio by diversifying the assets/securities that comprise it.
  • Indemnity
  • Compensation for damages or a particular loss in exchange for premiums paid by the insured to the insurer.
  • Long-Term Disability Insurance
  • Long-term disability insurance refers to an insurance policy whose benefits kick in between 70 to 90 days after the disability occurs.
  • Payout Rate
  • In the context of this industry, the payout rate refers to the amount of income insured against disability, which usually ranges between 60.0% to 70.0% of an individual's monthly salary.
  • Prime Rate
  • The rate at which banks lend money to their most creditworthy customers.
  • Short-Term Disability Insurance
  • Short-term disability insurance refers to an insurance policy whose benefits start flowing in between the day a person gets disabled and a week from when the disability occurs.
  • Statutory Capital
  • The amount of capital required in order for an insurance company to retain its license to do business.
  • Why buy this report?

    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 Disability Insurance:
    • 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 Disability Insurance 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 Disability Insurance, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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