Microinsurance Market Outlook 2021-2026: Size, Share, Growth, Key Players and Forecast – IMARC Group

According to the latest report by IMARC Group, titled “Microinsurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global microinsurance market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the global microinsurance market to reach a value of US$ 103.5 Billion by 2026. Microinsurance is a division of microfinance that provides insurance plans to the under-served or low-income section of the society. These plans include low premiums as they are tailored according to needs of the consumers. There are four basic methods and models available in the market that can be used for providing microinsurance, namely full-service, community-based or mutual, partner-agent and provider-driven models. Nowadays, microinsurance products are delivered to target users through numerous institutional channels, which include licensed insurers, healthcare providers, microfinance institutions, community-based organizations and non-governmental organizations.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Global Microinsurance Market Trends:

The expansion of the insurance sector on a global level is one of the key factors providing a boost to the market growth. Additionally, microinsurance is gaining popularity on account of its affordability and the transparent dynamics between the insurance taker and service provider. Also, several organizations and companies are employing virtual networks and multichannel interaction platforms to provide incentives, and build a value chain in the microinsurance business. This, along with the advent of consumer-friendly insurance models, like the peer-to-peer model, is also providing a thrust to the market growth. Moreover, constant improvements in regulatory policies, especially across developing economies, is creating a positive outlook for the market. For instance, in 2018, as an effort to increase the penetration of insurance in India, the Insurance Regulatory and Development Authority of India (IRDAI) permitted the distribution of all microinsurance products through point-of-sales (PoS).

Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/microinsurance-market

Key Market Segmentation:

Breakup by Product Type:

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

Breakup by Provider:

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

Breakup by Model Type:

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

Breakup by Region:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • Middle East and Africa

Competitive Landscape with Key Players:

The competitive landscape of the market has also been analyzed with the detailed profiles of the key players operating in the market.

Key highlights of the Report:

  • Market Performance (2015-2020)
  • Market Outlook (2021-2026)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Elena Anderson

9+ years in chemical & material has made Elena more or less an expert in everything related to medicines, drugs, chemicals and related sectors – at least from the PR front. Through his insider access to the sector, he has gained valuable insight into the entire manufacturing process of chemical and material.

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