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

The global disability insurance market is experiencing robust growth, fueled by an increase in insurance claims and advancements in technology. This blog explores the key factors propelling this growth and the emerging trends shaping the landscape of the disability insurance sector.

1. Rising Insurance Claims: A Significant Contributor

• Definition of Insurance Claims: Formal requests for compensation for covered losses made to insurance providers.
• Scope of Disability Insurance: Protection against catastrophic injuries and illnesses leading to unemployment.
• Catering to Health Challenges: Disability insurance safeguards against diseases such as heart disease and cancer.
  • Example: The Institute for Fiscal Studies reported a notable increase in disability insurance claims, rising from 15,000 in 2021 to 30,000 in 2022.

Impact: The surge in insurance claims is a key driver propelling the disability insurance market forward.

2. Major Players Shaping the Landscape

• Key Market Players: Industry giants such as AEGON N.V., Assurity Group Inc., Allianz SE, Aviva plc, and others play a pivotal role in influencing the disability insurance market.
• Diverse Offerings: From AEGON N.V.’s global reach to Assurity Group Inc.’s focus on group disability insurance, these players contribute to the market’s dynamism.

3. Technological Advancements: Transforming Disability Insurance

• Emerging Trend: Technological advancements take center stage, with a focus on automation in insurance claims processing.
• FastTrack’s PTD Auto-Recertification Solution: Launched in February 2022, this solution offers trigger questions on digitized claimant statements and low-code/no-code implementation procedures.
  • Benefits: Minimal IT support is required during implementation, streamlining the claims process.

Impact: Technology is becoming a cornerstone in enhancing the efficiency and effectiveness of disability insurance operations.

4. Market Segmentation: Understanding the Diversity

• Insurance Type Segmentation: The disability insurance market encompasses Employer Supplied Disability Insurance, Individual Disability Insurance, High Limit Disability Insurance, Business Overhead Expense Disability Insurance, and Other Insurance Types.
• Coverage Type Segmentation: Short Term Disability Insurance and Long Term Disability Insurance cater to different durations and needs.
• End User Segmentation: The market serves Government, Enterprise, and Individual clients, reflecting the diverse range of stakeholders.

5. Regional Dynamics: North America Leading the Charge

• North America’s Dominance: In 2022, North America claimed the largest share in the global disability insurance market.
  • Significance: The region’s leadership underscores the mature market and robust infrastructure supporting disability insurance.

Get A Free Sample On The Global Disability Insurance Market Report:
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Read The Full Disability Insurance Market Report Here:
https://www.thebusinessresearchcompany.com/report/disability-insurance-global-market-report

The Disability Insurance Global Market Report 2023  provides an overview of the disability insurance market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The disability insurance market forecast analyzes disability insurance market size, disability insurance market share, leading competitor and their market positions.

The Table Of Content For The Disability Insurance Market Include:
1. Disability Insurance Market Executive Summary
2. Disability Insurance Market Segments
3. Disability Insurance Market Size And Disability Insurance Market Growth Rate
4. Key Disability Insurance Market Trends
5. Major Disability Insurance Market Drivers
……
25. Key Mergers And Acquisitions In The Disability Insurance Market
26. Top Disability Insurance Companies
27. Disability Insurance Market Opportunities And Strategies
28. Disability Insurance Market, Conclusions And Recommendations
29. Appendix

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