Specialty Insurance Market by Type of Risk (Personal Risk, Commercial Risk, and Mix Risk) and Type of Insurers (Retail Agents, Wholesaler, and Others (MGA/MGU/Program Administrator)) - Global Opportunity Analysis and Industry Forecast, 2020-2027
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May 2020 |
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Insurance is an effective way to manage risk wherein one can transfer the cost of a potential loss under certain circumstance to the insurance company in exchange of fees also known as premium. Various types of insurances include health insurance, automobile insurance, pet insurance, and life insurance.
However, the insurance type that has gained most traction is specialty insurance, which is a high-risk, high-return market characterized by underwriting profitability. This insurance is purchased to provide protection for items that are special or unique and are not covered under the standard insurance types due to their unusual characteristics such as diamond necklace, exotic insurance, title insurance, body part insurance, renters insurance, and others.
The growth of the specialty insurance market is driven by volatile property & casualty market and weakening profitability for specialty carriers in case of a misfortune. However, lack of awareness and guidance is a major factor that restrains people from opting for specialty insurance. Market players are adopting innovative marketing strategies to educate the populace about the benefits and advantages offered by these insurance policies, which is expected to provide lucrative opportunities for the market.
The global specialty market is segmented based on type of risk, type of insurers, and geography. On the basis of type of risk, the market is divided into personal risk, commercial risk, and mix risk. Type of insurers covered in the study include retail agents, wholesaler, and other (MGA/MGU/Program Administrator). Geographically, the market is analyzed across North America (U.S., Mexico, and Canada), Europe (UK, Germany, France, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Major companies profiled in the report include Lexington (AIG Group), Scottsdale (Nationwide Group), Steadfast (Zurich Group), Ironshore Specialty (Ironshore Group), AIG Specialty (AIG Group), Columbia Casualty (CAN Group), Indian Harbor (XL Catlin Group), AXIS Surplus (AXIS Group), Westchester Surplus Lines (ACE Group), and Arch Specialty (Arch Group).
Key Benefits
- Comprehensive analysis of the current trends and future estimations in the global specialty insurance market is provided.
- The report offers a competitive scenario of the market with growth trends, structure, drivers, scope, opportunities, and challenges.
- It includes a detailed analysis of the key segments to provide insights on market dynamics.
- Porters Five Forces analysis highlights the potential of buyers and suppliers and the competitive structure to devise effective growth strategies and facilitate better decision-making.
Specialty Insurance Market Key Segmentation:
By Type Of Risk
- Personal risk
- Commercial risk
- Mix risk
By Type Of Insurerby Geography
- Retail Agents
- Wholesaler
- Other (MGA/MGU/Program Administrator)
By Geography
- North America
- U.S.
- Mexico
- Canada
- Europe
- UK
- Germany
- France
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Players
- Lexington (AIG Group)
- Scottsdale (Nationwide Group)
- Steadfast (Zurich Group)
- Ironshore Specialty (Ironshore Group)
- AIG Specialty (AIG Group)
- Columbia Casualty (CAN Group)
- Indian Harbor (XL Catlin Group)
- AXIS Surplus (AXIS Group)
- Westchester Surplus Lines (ACE Group)
- Arch Specialty (Arch Group)
CHAPTER 1 INTRODUCTION
1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENTS
1.4. RESEARCH METHODOLOGY
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools & models
CHAPTER 2 EXECUTIVE SUMMARY
2.1. CXO PERSPECTIVE
CHAPTER 3 MARKET OVERVIEW
3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS
3.2.1. Top investment pockets
3.2.2. Top winning strategies
3.3. MARKET SHARE ANALYSIS, 2016
3.4. PORTER’S FIVE FORCES ANALYSIS
3.4.1. MARKET DYNAMICS
3.4.2. Drivers
3.4.3. Restraints
3.4.4. Opportunities
CHAPTER 4 SPECIALTY INSURANCE MARKET, BY TYPE OF RISK
4.1. OVERVIEW
4.1.1. Market size and forecast
4.2. PERSONAL RISK
4.2.1. Key market trends
4.2.2. Growth factors and opportunities
4.2.3. Market size and forecast
4.3. COMMERCIAL RISK
4.3.1. Key market trends
4.3.2. Growth factors and opportunities
4.3.3. Market size and forecast
4.4. MIX RISK
4.4.1. Key market trends
4.4.2. Growth factors and opportunities
4.4.3. Market size and forecast
CHAPTER 5 SPECIALTY INSURANCE MARKET, BY TYPE OF INSURERS
5.1. OVERVIEW
5.1.1. Market size and forecast
5.2. RETAIL AGENTS
5.2.1. Market size and forecast
5.3. WHOLESALERS
5.3.1. Market size and forecast
5.4. OTHERS
5.4.1. Market size and forecast
CHAPTER 6 SPECIALTY INSURANCE MARKET, BY GEOGRAPHY
6.1. OVERVIEW
6.2. NORTH AMERICA
6.2.1. Key market trends
6.2.2. Key growth factors and opportunities
6.2.3. Market size and forecast
6.2.3.1. U.S. market size and forecast
6.2.3.2. Canada market size and forecast
6.2.3.3. Mexico market size and forecast
6.2.4. North America Specialty Insurance Market by Type of Risk
6.2.5. North America Specialty Insurance Market by Type of Insurers
6.3. EUROPE
6.3.1. Key market trends
6.3.2. Key growth factors and opportunities
6.3.3. Market size and forecast
6.3.3.1. Germany market size and forecast
6.3.3.2. France market size and forecast
6.3.3.3. UK market size and forecast
6.3.3.4. Rest of Europe market size and forecast
6.3.4. Europe Specialty Insurance Market by Type of Risk
6.3.5. Europe Specialty Insurance Market by Type of Insurers
6.4. ASIA-PACIFIC
6.4.1. Key market trends
6.4.2. Key growth factors and opportunities
6.4.3. Market size and forecast
6.4.3.1. Japan market size and forecast
6.4.3.2. China market size and forecast
6.4.3.3. India market size and forecast
6.4.3.4. South Korea market size and forecast
6.4.3.5. Rest of Asia-Pacific market size and forecast
6.4.4. Asia-Pacific Specialty Insurance Market by Type of Risk
6.4.5. Asia-Pacific Specialty Insurance Market by Type of Insurers
6.5. LAMEA
6.5.1. Key market trends
6.5.2. Key growth factors and opportunities
6.5.3. Market size and forecast
6.5.3.1. Latin America market size and forecast
6.5.3.2. Middle East market size and forecast
6.5.3.3. Africa market size and forecast
6.5.4. LAMEA Specialty Insurance Market by Type of Risk
6.5.5. LAMEA Specialty Insurance Market by Type of Insurers
CHAPTER 7 COMPANY PROFILES
7.1. LEXINGTON
7.1.1. Operating business segments
7.1.2. Business performance
7.1.3. Key strategic moves and developments
7.2. SCOTTSDALE
7.2.1. Operating business segments
7.2.2. Business performance
7.2.3. Key strategic moves and developments
7.3. STEADFAST
7.3.1. Operating business segments
7.3.2. Business performance
7.3.3. Key strategic moves and developments
7.4. IRONSHORE SPECIALTY
7.4.1. Operating business segments
7.4.2. Business performance
7.4.3. Key strategic moves and developments
7.5. AIG SPECIALTY
7.5.1. Operating business segments
7.5.2. Business performance
7.5.3. Key strategic moves and developments
7.6. COLUMBIA CASUALTY
7.6.1. Operating business segments
7.6.2. Business performance
7.6.3. Key strategic moves and developments
7.7. INDIAN HARBOR
7.7.1. Operating business segments
7.7.2. Business performance
7.7.3. Key strategic moves and developments
7.8. AXIS SURPLUS
7.8.1. Operating business segments
7.8.2. Business performance
7.8.3. Key strategic moves and developments
7.9. WESTCHESTER SURPLUS LINES
7.9.1. Operating business segments
7.9.2. Business performance
7.9.3. Key strategic moves and developments
7.10. ARCH SPECIALTY
7.10.1. Operating business segments
7.10.2. Business performance
7.10.3. Key strategic moves and developments
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