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the rising number of accidental deaths are expected to drive innovation in accidental death insurance manufacturing, thus driving the market during the forecast period.

The global accidental death insurance market is expected to grow from $67.34 billion in 2022 to $70.09 billion in 2023 at a compound annual growth rate (CAGR) of 4.1%. The accidental death insurance market is expected to grow from $80.11 billion in 2027 at a CAGR of 3.4%.

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Global Accidental Death Insurance Market Segments Include:

• By Application: Personal, Enterprise
• By Product: Personal Injury Claims, Road Traffic Accidents, Work Accidents, Other Products
• By Distribution Channel: Direct Marketing, Bancassurance, Agencies, E-commerce, Brokers
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global accidental death insurance market in 2021.

Major Market Players in the accidental death insurance market include Allianz, Assicurazioni Generali, China Life Insurance, MetLife, PingAn, AXA, Sumitomo Life Insurance, Aegon, Dai-ichi Mutual Life Insurance, and CPIC.

The companies in the accidental death insurance market are witnessing a transformation due to the integration of blockchain technology in life insurance products and processes. Blockchain technology is a system that keeps track of transactions done via cryptocurrencies and maintains them across several computers that are linked to each other. This facilitates a transparent process for both the insurance companies and customers, thus enabling the removal of fraudulent claims and activities. In addition to that, claims can be processed quickly, and the process becomes more flexible. For instance, November 2020, Tata Consultancy Services joined hands with B3i to launch blackchain solutions for the insurance industry.

The Accidental Death Insurance Global Market Report 2023  provides a accidental death insurance market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The accidental death insurance market forecast analyzes accidental death insurance market size, accidental death insurance market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An accidental death insurance policy protects you and your family in the event of serious injuries or death in an accident. The financial institutions pay a lump sum amount to the beneficiary in case of an accidental death, in addition to the standard benefit payable if the insured died of natural causes. This type of insurance is often an addition, or a clause connected to a life insurance policy.

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