Global Microinsurance can be administered by accredited institutions and intermediaries using a variety of models, including the partner-agent model, all-in-one insurance model, full-service model, and community-based model. The safety provided to low-income households with restricted access to income and low-value assets is known as microinsurance. By creating a personalised plan with affordable premiums and providing compensation for illness, injury, disability, and death, it helps people who are financially weaker members of society. It also includes different property risks related to animals, fire, and crops. In addition to offering security from unforeseen losses and the excessive interest rates imposed by unorganised money investors, it consolidates numerous tiny financial units into a larger organisation.

Data Bridge Market Research analyses that the microinsurance market which was USD 78.4 billion in 2021, would rocket up to USD 131.71 billion by 2029, and is expected to undergo a CAGR of 6.70% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

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The microinsurance market is segmented on the basis of type, age group, product, provider, distribution channel and model. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

  • Lifetime Coverage
  • Term Insurance

Age Group

  • Minor
  • Adult
  • Senior Citizens

Product

  • Property Insurance
  • Health Insurance
  • Life Insurance
  • Index Insurance
  • Accidental Death and Disability Insurance
  • Others

Provider

  • Microinsurance (Commercially Viable)
  • Microinsurance Through Aid/Government Support

Distribution Channel

  • Direct Sales
  • Financial Institutions
  • E-Commerce
  • Hospitals
  • Clinics
  • Others

Model

  • Partner Agent Model
  • Full-Service Model
  • Provider Driven Model
  • Community-Based/Mutual Model
  • Others

Highlight of Table of Content:

·        Chapter 1: Market overview

·        Chapter 2: Global Microinsurance Market analysis

·        Chapter 3: Regional analysis of the Global Microinsurance Market

·        Chapter 4: Market segmentation based on types and applications

·        Chapter 5: Revenue analysis based on types and applications

·        Chapter 6: Market share

·        Chapter 7: Competitive Landscape

·        Chapter 8: Drivers, Restraints, Challenges, and Opportunities

·        Chapter 9: Gross Margin and Price Analysis

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Some of the major players operating in the microinsurance market are:

  • HDFC Ergo General Insurance Company Limited (India)
  • Hollard (Netherlands)
  • MicroEnsure Holdings Limited (U.K.)
  • National Insurance Commission (India)
  • Standard Chartered Bank (U.K.)
  • Wells Fargo (U.S.)
  • SAC Banco do Nordeste (Brazil)
  • MetLife Services and Solutions, LLC (U.S.)
  • Bandhan Bank (India)
  • ICICI Bank (India)
  • Tata AIA Life (India)

Profound Questions Answered in this Report:

·        What is the growth rate of various stages in the value chain of the industry?

·        Which region has the highest growth rate and size of the emerging market by value in 2022?

·        Who are the competitive players in Global Microinsurance Market?

·        Which region has the largest share and degree of competition in the industry?

·        What is the CAGR of the market during the forecast period 2022 to 2029?

·        Which region is expected to hold the highest market share for the market?

·        What is the main driver of the Global Microinsurance Market?

·        What is sales volume, revenue, and price analysis of top players of the market?

·        What are the market opportunities and threats faced by the vendors in the industry?

·        What has been the impact of COVID-19 on the Global Microinsurance Market?

 

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