The Insurance Industry in Costa Rica, Key Trends and Opportunities to 2022

The Insurance Industry in Costa Rica, Key Trends and Opportunities to 2022

The Insurance Industry in Costa Rica, Key Trends and Opportunities to 2022

Summary

Timetric’s 'The Insurance Industry in Costa Rica, Key Trends and Opportunities to 2022' report provides in-depth market analysis, information and insights into the Costa Rican insurance industry, including -

The Costa Rican insurance industry's growth prospects by segment and category

A comprehensive overview of the Costa Rican economy and demographics

Details of the competitive landscape in the Costa Rican insurance industry

The various distribution channels in the Costa Rican insurance industry

Details of regulatory policy applicable to the Costa Rican insurance industry

Analysis of natural hazards in the Costa Rican insurance industry.

Synopsis

The report provides detailed analysis of the market trends, drivers and challenges in the Costa Rican insurance industry.

It provides key performance indicators such as written premium and claims during the review period (2013-2017) and forecast period (2017-2022).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Costa Rican economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Key Highlights

In May 2017, Superintendencia General de Seguros (Sugese) introduced a resolution stipulating the provisions for the risk management and internal control systems of insurance and reinsurance undertakings and intermediaries.

In 2013, the Central American Association Agreement was formulated between Central American countries (including Costa Rica) and the European Union (EU), permitting European insurers to provide insurance related to freight, maritime shipping and commercial aviation and reinsurance in Costa Rica on a cross-border basis.

Microinsurance in Costa Rica is primarily distributed through bancassurance, as well as through member organization and financial institutions, with co-operatives and micro finance institutes (MFI) offering partnership opportunities.

Costa Rica recorded demand for peer-to-peer insurance models to reduce the cost of cover and mitigate conflicts between insurance providers and policyholders.

Scope

This report provides a comprehensive analysis of the insurance industry in Costa Rica -
• It provides historical values for the Costa Rican insurance industry for the report’s 2013-2017 review period, and projected figures for the 2017-2022 forecast period.
• It offers a detailed analysis of the key segments in the Costa Rican insurance industry, with market forecasts to 2022.
• It covers an exhaustive list of parameters, including written premium and claims.
• It analyzes the various distribution channels in Costa Rica.
• It profiles the top insurance companies in Costa Rica, and outlines the key regulations affecting them.

Reasons to buy

• Make strategic business decisions using in-depth historic and forecast market data related to the Costa Rican insurance industry and each segment and category within it.
• Understand the demand-side dynamics, key market trends and growth opportunities in the Costa Rican insurance industry.
• Assess the competitive dynamics in the Costa Rican insurance industry.
• Identify the growth opportunities and market dynamics in key segments.
• Gain insights into key regulations governing the Costa Rican insurance industry and their impact on companies and the industry's future.