Banking, Financial Services & Insurance

Microinsurance Market in the Philippines 2016-2020

  • TEC681522
  • 75 Pages
  • September 2016
  • Banking, Financial Services & Insurance
About Micro-Insurance Products

Micro-insurance products are coverage policies targeted at households with low income levels. Micro-insurance plans provide tailored insurance coverage policies for individuals with little or low saving plans. Such policies provide lower value assets and compensation for injury, illness, or death to an individual than in other insurance policies. Micro-insurance companies assist poor families by offering customized insurance plans to meet the specific needs of the customers. The value of the coverage policy is lower compared to other insurance plans because of which the policyholder pays smaller premiums to the insurance company than in the case of a usual plan. The micro-insurance market is stronger in developing countries which offer high growth opportunities for the insurance industry.

Technavios analysts forecast the micro-insurance market in the Philippines to grow at a CAGR of 21.47% during the period 2016-2020.

Covered in this report
The report covers the present scenario and the growth prospects of the micro-insurance market in the Philippines for 2016-2020. To calculate the market size, the report considered the premiums earned from accidental micro-insurance, life micro-insurance, health micro-insurance, agriculture micro-insurance, and property micro-insurance from the Philippines market.

Technavio's report, Micro-Insurance Market in the Philippines 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
AIG Philippines
Asian Life and General Assurance
CARD Pioneer
CLIMBS Life

Other prominent vendors
AFP General lnsurance
PNB MetLife
xMicroEnsure

Market driver
Encouraging regulatory environment
For a full, detailed list, view our report

Market challenge
Lack of trained staff to explain insurance products to the poor
For a full, detailed list, view our report

Market trend
Increase in financial inclusion programs
For a full, detailed list, view our report

Key questions answered in this report
What will the market size be in 2020 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?

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