The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Natural catastrophes are projected to stimulate innovation in the production of homes insurance carriers, boosting the market over the forecast period.

The global homeowners insurance carriers market is expected to grow from $285.16 billion in 2022 to $304.89 billion in 2023 at a compound annual growth rate (CAGR) of 6.9%. The global homeowners insurance carriers market size is expected to reach $391.73 billion in 2027 at a CAGR of 6.5%.

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Global Homeowners Insurance Carriers Market Segments Include:

• By Type: Basic Form, Broad Form, Special Form, Tenant’s Form, Comprehensive Form, Condo Form, Mobile Home Form, Older Home Form
• By Source: Captive, Independent Agent, Direct Response
• By Application: Enterprise, Personal
• 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 homeowners insurance carriers market in 2021.

Major Market Players in the homeowners insurance carriers market include Admiral Insurance Group, Allianz Australia Limited, American International Group Inc., Amica, USAA, Chubb Corp., Erie Indemnity Co., State Farm Mutual Automobile Insurance Company.

The primary trend gaining traction in the homeowner’s insurance carriers industry is technological innovation. Major players in the homeowner’s insurance carriers market are emphasising the adoption of new technologies in order to expand their product offering. For example, in August 2021, Mosaic Insurance, a provider of insurance products and underwriting services based in the United States, and DXC Technology, a provider of technology consulting, outsourcing, and support services based in the United States, launched a new insurance technology platform that accelerates the sale, underwriting, and servicing of specialised insurance. The incorporation of enhanced automation, blockchain-enabled access to real-time data, and artificial intelligence underwriting help, all of which are expected to speed up the process of selling, underwriting, and servicing specialty insurance, distinguishes this technology platform.

The Homeowners Insurance Carriers Global Market Report 2023 provides a homeowners insurance carriers market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The homeowners insurance carriers market forecast analyzes homeowners insurance carriers market size, homeowners insurance carriers 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.

Homeowners insurance carriers are businesses that provide property insurance to cover losses and damages to people’s homes and personal items. It is used to recompense for external damage, personal property loss or destruction, interior damage, and any injuries experienced while on the premises.

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