Whoever can spot these trends before others will secure a fundamental competitive advantage.

[nurmohammadkhan]

For this reason, we have decided to collect in this article 5 trends that will influence the insurance market in the years to come: from the opening of the market to the new risk categories . The great driving force of Insurtech . The challenges of retention and those of customization , finally talking about BtoE.







The first trend of the insurance market: an expanding market and changing risk categories
We said it above, the insurance market is in an expansion phase. In greece whatsapp resource Western countries (and not only) the main trend is that of market liberalization and fluidity , which translates into the possibility for the insured to quickly pass into the ranks of a competitor, since, often, it only takes a few clicks to do so.

But it is good to focus attention to the East, in particular to China , starting from this data: the total of Chinese insurance premiums, in 2009, was equal to 1113 billion yuan (about 174 billion dollars); at the end of 2020 this figure has more than tripled, reaching 4525 billion yuan (about 707 billion dollars) . (Source: Statista )

A surge that depends on the improvement in the economic conditions of Chinese citizens, who have now begun to embrace a lifestyle characterized by greater individual well-being, with all the consequences in terms of protection against unforeseen events and potential losses of money.

It is estimated that 8% of the global life and health insurance market is now located in China (Source: B ain.com )