The Global Life Insurance Providers Market Report by The Business Research Company covers life insurance providers market drivers and restraints, life insurance providers market size, major players, and the impact of COVID-19 on the life insurance providers market.

The life insurance providers market consists of sales of life insurance products and related services by entities (organizations, sole traders and partnerships). These entities are involved in underwriting annuities and life insurance policies, disability income insurance policies and accidental death and dismemberment insurance policies. This includes both government and private owned Insurance providers that underwrite both linked policies which act as insurance as well as investment policies and non-linked polices or annuities against events such as death, permanent disability and temporary disability. Clients of these insurance providers are the general public who buy life insurance policies, the purchase can be made either through an intermediary or by direct selling.

The global life insurance providers market reached a value of nearly $2,860.4 billion in 2020, having increased at a compound annual growth rate (CAGR) of 1.8% since 2015. The life insurance providers market is expected to grow from $2,860.4 billion in 2020 to $3,550.8 billion in 2025 at a rate of 4.4%. The growth is mainly due to the growing awareness about investing in life insurance policies due to an increase in chronic illnesses. The market is expected to grow from $3,550.8 billion in 2025 to $4,266.6 billion in 2030 at a CAGR of 3.7%.

The term life market is predicted to be driven by increased incidence rates of chronic diseases and physical disabilities. The market is driven by the increased fear of chronic diseases, which forces parents of young children to opt for term life insurance. According to WHO, the global burden of major chronic diseases currently accounts for 43% of all diseases and is set to rise to 60% by 2020. According to a UN report on world population aging, during 2015-2030, globally, the 60+ aged population is projected to grow by 56% to reach 1.4 billion. Growth of the aging population and rising chronic disease incidence will contribute to increased fear for the dependents, thereby increasing demand for life insurance.

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Some life insurance providers market trends include increasingly adopting advance technologies to automate the insurance process, reduce the cost of operations and improve efficiency. Moreover, life insurance providers understand that by going digital, they can ensure that their services are readily accessible for their customers and reduce the time taken to offer various services. The shift to digital has marked a shift towards paperless and pen less processes for buying insurance to expecting virtual assistance during service requests, digital processes are no longer a differentiator but a survival requirement.

 Global life insurance providers market segments include:

1) By Type: Whole Life Insurance, Term Life Insurance, Accidental Insurance, Variable Insurance, Annuities, Other life insurance

2) By Application: Tied Agents and Branches, Bancassurance, Direct And Other Channels, Brokers

3) By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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The Life Insurance Providers Opportunities And Strategies: Forecast To 2030 is one of a series of new reports from The Business Research Company that provides life insurance providers market overviews, analyzes and forecasts market size, share, life insurance providers market players, life insurance providers market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.

The life insurance providers identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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Read Life Insurance Providers Opportunities And Strategies: Forecast To 2030 from The Business Research Company for information on the following:

Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries

Market Players Covered: Ping An Insurance (Group) Company of China, Ltd., China Life Insurance Company Limited, Assicurazioni Generali S.p.A., China Pacific Insurance (Group) Co., Ltd., Japan Post Insurance Co., Ltd.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)

Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.

Sourcing and Referencing: Data and analysis throughout the report are sourced using end notes.

Strategies For Participants In The Life Insurance Providers Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.

Opportunities For Companies In The Life Insurance Providers Sector: The report reveals where the global industry will put on most $ sales up to 2023.

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Here is a list of reports from The Business Research Company similar to the Life Insurance Providers Opportunities And Strategies: Forecast To 2030:

Reinsurance Providers Global Market Report 2020

Whole Life Insurance Global Market Report 2020

Variable Life Insurance Global Market Report 2020

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