Emerging Economies in Insurance - Thematic Research

Emerging Economies in Insurance - Thematic Research

Summary

This report provides an in-depth analysis of the place of emerging economies within the insurance industry. It examines the relevant countries, how they are viewed, what influence they can have on the global market, and how much potential each market has in terms of growth. The report also identifies key players within the industry and discusses what they have done well to set themselves apart. It analyzes the investment that has gone into the theme within insurance in recent years, as well as how it is perceived by industry experts.

Emerging economies is a key theme within insurance due to the scale of potential in the countries at the forefront of this theme, such as Brazil, Russia, India, China, and South Africa. While Russia is much less of a factor now due to geopolitical issues, the other countries are developing quickly in terms of both expected gross written premiums growth and innovation. China and India, in particular, are a hotbed for insurtech deals and innovation, with the two industries both expected to see strong growth in premiums up to 2025. Emerging economies were hit particularly hard by the COVID-19 pandemic, often facing slower access to vaccines and severe economic disruption. That is starting to change in 2022, but cost-of-living crises (exacerbated by the Russia/Ukraine conflict) will present a considerable challenge to insurers in emerging economies, as consumers will have less disposable income.

Scope

• The BRICS (Brazil, Russia, India, China, and South Africa) have long been at the forefront of the emerging economies in insurance trend.
• Recent geopolitical events have seen Russia’s importance and potential growth take a significant nosedive.
• China is by far the largest insurance market among the emerging economies, and is set to reach nearly $340 billion in general insurance gross written premiums by 2025f.

• Benchmark yourself against the rest of the market.
• Ensure you remain competitive as new markets open up to the global insurance industry.
• Understand any key innovations originating from these emerging markets.
• Discover the key players in this theme, including insurers, startups, and technology providers.