Global Logistics Insurance Market Size is estimated to expand rapidly in coming years, at a CAGR of 8.2 % from 2018 to 2025. In 2017, the global market valuation was USD 48.5 billion, and it is anticipated to be greater than USD xx.xx billion by 2025. Insurance product development involves a possible danger to be passed on by the purchaser. The organization's primary goal for implementing a fresh brand is to raise after-tax revenue by charging a suitable item cost. The participants in the industry generate ideal prices for certain strategies and only write the cost as some variables alter over moment.
By embracing the price optimization method, insurers stay competitive. Based on historical information and the item cost appropriately, companies determine premium prices. For product pricing tools such as predictive analysis models, simulation of scenarios and impact analyzes are used. The price is seen as the main differentiator for competition, customer data, customer buying preferences and price strategies. The prices require a thorough understanding.
The achievement of both small and large corporations requires the efficient handling of allegations. The method of processing the claims involves creating fraud reduction policies and cost reduction for the improvement of client knowledge. The request method varies between insurers depending on the company's facilities. In the context of an optimized end-to-end claim process, the adoption of the Business Process Management would lead to an improved claim processing technology that automates the resources assignment.
Global Market Growth Opportunities (Revenue, Growth) By 2018-2025
This global market study report analysis offers in-depth insights, revenue details, and other vital information regarding the global logistics insurance market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2025. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global logistics insurance market report has been segmented on the basis of type, application, and region. It includes the estimation of the market size, in terms of value, with respect to 4 main geographies, namely, North America, Europe, APAC, and RoW.
By Industry Insights: On the basis of industry, global logistics insurance market has been segmented into transportation, marine, and aviation. In 2015, the marine sector dominated the segment and is expected to continue to be the same during the forecast period. The rapid growth in port development in emerging countries is attributed to this growth. Due to the reduction in the deductible and premium value of vessels, the contribution of cargo holders has increased.
The transfer of production to countries like Cambodia and Vietnam has reinforced intra-Asian commerce. In addition, increased infrastructure spending makes it possible to pass through the region with greater volume of goods. The increasing demand from consumers also increases the need for goods and draws more freight to the area.
The logistics insurance market is divided into regions that are North America - U.S, Canada, Other; Asia-Pacific -India, Japan, China, Australia, Other; Europe - UK, Russia, France, Brazil, Other; Middle East and Africa. Every region analysis details in sense of growth, revenue, volume, challenges, and opportunities with the regional and global key players.
In 2018, Europe held a major share and became one of the industry's most influential markets. The presence of established logistics infrastructure and the increasing digital insurance are the main factors that strengthen the region's dominance. The region is also likely to stimulate growth by automating compliance with regulations. Regulatory initiatives by the government play an important role in determining the price of policies, which should impact the industry as a driver. Developing countries, including India and China, have shown steady progress over the past few years, with prosperous growth opportunities in the Asia-Pacific region. The region's growing infrastructure expenditure is projected to drive growth during the forecast period.
Global Logistics Insurance Market Size, Share Analysis by Region 2018
Global Logistics Insurance Market Study Objective
1. To forecast the market size of logistics insurance market, along with describing and defining the market, in terms of volume and revenue as well as market opportunities for stakeholders, in order to provide a competitive landscape for global market players.
2. Market analysis and forecast of logistics insurance market on the basis of region, substrate, and application or end-use industry. To profile major market players, and to analyze their market shares and essential competencies comprehensively.
3. To analyze and elaborate significant factors that will have a major impact on the growth of logistics insurance market, such as drivers, restraints, challenges, and opportunities.
4. The regional analysis of logistics insurance market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa, and the Asia Pacific.
5. Strategic analysis of micro-markets, in terms of individual prospects, opportunities, growth trends and their involvement in the overall market.
6. To provide detailed analysis of competitive and strategic developments in the logistics insurance market like a new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.
Key Players Landscape
American International Group, Inc., Allianz SE, DB Schenker, Dawson Companies, and G4S International Logistics are some of the key players in the market of logistics insurance. In order for companies to become marketplaces, they are undertaking strategic initiatives in both developed and developing countries, such as fusions and acquisitions, new product development and risk capital investments. Industries invest in technological solutions to improve distribution, front end sales and service to customers.
Global Logistics Insurance Market Study Report Offer You!
The global logistics insurance market study report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end-user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast. The global market report includes all depth data like pre-market emphasis, market survey, market investment, industry advice, portfolio, finance, access, trade, market exploration, industry review and market predication & projection to develop effective strategies for optimizing their market position.
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