Summary- A new market study, titled “Global Life & Non-Life Insurance Market – by Region - Market Size, Demand Forecasts, Company Profiles, Industry Trends and Updates (2018 - 2025)” Market Overview
Life insurance is an insurance cover that gives out a certain amount to the insured or their nominated beneficiaries upon a certain event such as death of the individual who is insured. Non-Life insurance is an insurance policy to protect an individual against losses and damages. The life insurance sector consists of mortality protection and annuity. The non-life insurance sector consists of accident and health, and property and casualty insurance segments. The global life and non-life insurance market was USD 627.41 billion in 2018 and will reach USD 1012.77 billion by 2025 at a CAGR of 7.08% during the forecast period.
Growth by Region
Also Read: https://www.einpresswire.com/article/528892004/life-non-life-insura...
In 2018, Asia Pacific held largest share in the market. Western Europe also had a major share in the market. Africa held smallest share in the market.
Drivers vs Constraints
High volume industrialized countries are driving the growth of the market. Global economic growth will also drive the market growth.
Industry Trends and Updates
The insurance industry is increasing the use of digital and mobile technologies to enhance their risk management capabilities and improve customer experience.
Insurers are increasing exploration of automation of business processes across the value chain and developing artificial intelligence applications such as robo-advisors
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