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Agricultural Insurance: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Agricultural Insurance Market Research Report | NAICS OD4875 | Apr 2016

Fertile ground: Revenue will rise as regulatory changes aid industry performance

IBISWorld’s Agricultural Insurance market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

Report Snapshot
Industry Statistics & Market Size
Revenue
$11bn
Annual Growth 11-16
-3.3%
Annual Growth 16-21
Annual Growth
Profit
Profit
Employment
18,912
Businesses
574
Industry Threats & Opportunities
  • The 2014 Farm Bill will stem the majority of industry revenue growth during the next 10 years
  • Decreasing revenue and employment figures have resulted in labor cost declines
  • Consistent increases in the agricultural price index will propel industry revenue
  • ... purchase to read more

Industry Analysis & Industry Trends

Despite steep losses incurred in 2012, sharp increases in crop insurance protection in force and strong premium gains in 2011 have driven the performance of the Agricultural Insurance industry in the past five years. Moreover, regulatory changes are anticipated to dictate the industry's performance over the five years to 2019. The 2014 Farm Bill continues to solidify crop insurance as the most important means for farmers to hedge production and price risk. Ultimately, industry revenue is forecast to rise, with consistent increases in the agricultural price index driving up revenue from 2016 onward... ... purchase to read more

Industry Report - Starting a New Business Chapter

The Agricultural Insurance industry has high barriers to entry. In addition to increasing market share concentration and rising competition, potential crop insurers must satisfy intense regulatory requirements. To provide multiple peril crop insurance (MPCI), a private insurer must become an Approved Insurance Provider (AIP) through the Federal Crop Insurance Corporation (FCIC). According to the US Department of Agriculture (USDA)'s Risk Management Agency (RMA), which manages the FCIC, an AIP is a legal entity that has entered into a Standard Reinsurance Agreement (SRA) with the FCIC for the applicable reinsurance year. If .. ... purchase to read more

Additional Insights for the Agricultural Insurance Industry

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

  • Ability to effectively manage risk
  • Management of a high quality assets portfolio
  • Having a cost effective distribution system
  • IBISWorld analysts also discuss how external factors such as Government consumption and investment and Natural disaster index in the Agricultural Insurance industry impact industry performance... purchase to read more

     


    Industry ProductsRelated Reports

    What is the Agricultural Insurance Industry?

    Agricultural insurance, also known as crop insurance is purchased by agricultural producers, including farmers, ranchers and others. It protects against either the loss of their crops due to natural disasters, such as hail, drought and floods, or the loss of revenue due to declines in the prices of agriculture commodities.

    Industry Products
    Multiple peril crop insurance - revenue programsMultiple peril crop insurance - other programsCrop-hail insurance
     
    Industry Activities
    Providing multiple peril crop insuranceProviding crop-hail insurance


    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
  • Government consumption and investment
  • Natural disaster index
  • Agricultural price index
  • Demand from cotton farming
  • Current Performance
  • Government Involvement
  • Policy volume, premium and loss trends
  • Drought impact and projections
  • Chart: Revenue Growth
  • Industry Outlook
  • Impact of regulation
  • Industry structure
  • Table: Agricultural Insurance Industry Revenue Outlook
  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Agricultural Insurance Industry Lifecycle vs The Economy
  • Products & Markets
    Supply Chains
  • Key Buying Industries
  • Soybean Farming
  • Corn Farming
  • Wheat, Barley & Sorghum Farming
  • Fruit & Nut Farming
  • Cotton Farming
  • Key Selling Industries
  • Insurance Brokers & Agencies
  • Reinsurance Carriers
  • Products & Services
  • Multiple peril crop insurance - revenue programs
  • Multiple peril crop insurance - other programs
  • Crop-hail insurance
  • Chart: Agricultural Insurance Industry Products and Services Segmentation
  • Demand Determinants
    Major Markets
  • Corn producers
  • Soybeans producers
  • Other producers
  • Wheat producers
  • Cotton producers
  • Chart: Major Market Segmentation for the Agricultural Insurance Industry
  • International Trade
    Business Locations
  • Chart: Business Locations by State
  • Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Loss and loss adjustment expenses
  • Wages
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Agricultural Insurance
  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Agricultural Insurance Industry
  • Industry Globalization
    Major Companies
    Rural Community Insurance Services
    Chubb Limited
    QBE Insurance Group Limited
    Farmers Mutual Hail Insurance
    American Financial Group Inc.
  • Table: Rural Community Insurance Services - financial performance
  • Table: Chubb Limited - financial performance
  • Table: QBE Insurance Group Limited - financial performance
  • Table: Farmers Mutual Hail Insurance - financial performance
  • Table: American Financial Group Inc. - financial performance
  • Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Agricultural 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 Agricultural Insurance Industry
  • Includes:
  • Industry Revenue (2007-2021)
  • Industry Gross Product (2007-2021)
  • Establishments (2007-2021)
  • Businesses (2007-2021)
  • Employment (2007-2021)
  • Wages (2007-2021)
  • Agricultural Price Index (2007-2021)
  • Table: Annual Percentage Change for Key Industry Data
  • Table: Key Ratios for Industry Key Data
  • Jargon & Glossary
    Indemnity Payment
  • The losses paid or expected to be paid by an insurer for liability coverage.
  • Loss Ratio
  • The percentage of premiums earned that were paid out as claims; it equals loss-incurred and loss-adjusted expenses divided by earned premiums.
  • Protection In Force
  • The total value of crop insurance policies that the industry has issued.

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

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