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In this report, LP Information studies the present scenario (with the base year being 2017) and the growth prospects of global Critical Illness Insurance market for 2018-2023.Critical illness insurance, otherwise known as critical illness cover or a dread disease policy, is an insurance product in which the insurer is contracted to typically make a lump sum cash payment if the policyholder is diagnosed with one of the specific illnesses on a predetermined list as part of an insurance policy.
The policy may also be structured to pay out regular income and the payout may also be on the policyholder undergoing a surgical procedure, for example, having a heart bypass operation.
Critical illness insurance, otherwise known as critical illness cover or a dread disease policy, is an insurance product in which the insurer is contracted to typically make a lump sum cash payment if the policyholder is diagnosed with one of the specific illnesses on a predetermined list as part of an insurance policy.
In the last several years, global market of critical illness insurance developed rapidly, with CAGR of 16.48%. In 2017, global market size of critical illness insurance is nearly 27338.56 M USD; Asia region, especially China is estimated to account for the largest share, in terms of Population and economy, of the global critical illness insurance market in 2017. The region comprises some of the fastest developing economies in the world, including China, India, Japan and Korea. This has led to an increase in Insurance investment over the years.
There are three kinds of Critical illness insurance paid out (cancer, Cancer, Heart Attack and Stroke), Cancer remains the most common cause of critical illness claims at 67.94%, followed by heart attack (13.34%), stroke (8.46%) and Other (10.26%) in 2017
Over the next five years, LPI(LP Information) projects that Critical Illness Insurance will register a 16.4% CAGR in terms of revenue, reach US$ 63700 million by 2023, from US$ 25600 million in 2017.
This report presents a comprehensive overview, market shares and growth opportunities of Critical Illness Insurance market by product type, application, key companies and key regions.
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To calculate the market size, LP Information considers value generated from the sales of the following segments:
Segmentation by product type:
• Disease Insurance
• Medical Insurance
Segmentation by application:
• Cancer
• Heart Attack
• Stroke
We can also provide the customized separate regional or country-level reports, for the following regions:
• Americas
• United States
• Canada
• Mexico
• Brazil
• APAC
• China
• Japan
• Korea
• Southeast Asia
• India
• Australia
• Europe
• Germany
• France
• UK
• Italy
• Russia
• Spain
• Middle East & Africa
• Egypt
• South Africa
• Israel
• Turkey
• GCC Countries
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The report also presents the market competition landscape and a corresponding detailed analysis of the major players in the market. The key players covered in this report:
• China Life Insurance
• Ping An Insurance
• China Pacific Insurance
• Aviva
• Legal & General
• New China Life Insurance
• AXA
• Prudential plc
• Aegon
• Allianz
• AIG
• UnitedHealthcare
• Zurich
• MetLife
• Dai-ichi Life Group
• Sun Life Financial
• Huaxia life Insurance
• Aflac
• Liberty Mutual
• HCF
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
Research objectives
• To study and analyze the global Critical Illness Insurance market size by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
• To understand the structure of Critical Illness Insurance market by identifying its various subsegments.
• Focuses on the key global Critical Illness Insurance players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
• To analyze the Critical Illness Insurance with respect to individual growth trends, future prospects, and their contribution to the total market.
• To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
• To project the size of Critical Illness Insurance submarkets, with respect to key regions (along with their respective key countries).
• To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
• To strategically profile the key players and comprehensively analyze their growth strategies.
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