Press release
Asia Pacific Microinsurance Market | Size, Growth (CAGR of 19.4%), Trends, Business Opportunity and Forecast 2023-2028
IMARC Group's latest report, titled "Asia Pacific Microinsurance Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", the Asia Pacific microinsurance market size reached US$ 3.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.4 Billion by 2028, exhibiting a growth rate (CAGR) of 19.4% during 2023-2028.
Microinsurance represents the coverage offered to low-income households with low-valued assets and limited income access. Some of the common types include property insurance, life insurance, health insurance, accidental death and disability insurance, etc. These microinsurance services aid individuals belonging to the financially weaker section of society by facilitating a tailored plan with low premiums, providing compensation for illness, injury, disabilities, and death, and covering several property risks against crops and cattle. They merge multiple small financial units into more massive structures and provide a cushion against exorbitant interest rates charged by unorganized money lenders and unexpected losses. Consequently, microinsurance solutions are in extensive demand across the Asia Pacific region.
Request Free Sample Report (Exclusive Offer on this report): https://www.imarcgroup.com/asia-pacific-microinsurance-market/requestsample
Asia Pacific Microinsurance Market Trends and Demand:
The growth of the insurance industry and the increasing focus on improving access to financial services among all classes of society are among the key factors driving the Asia Pacific microinsurance market. Additionally, the introduction of peer-to-peer models and other such consumer-friendly insurance products that offer flexible terms and an end-to-end digital experience to consumers and ensure transparency between the insurance takers and service providers is acting as another significant growth-inducing factor. Moreover, the escalating number of policies becoming digitally available and the rising interest of various stakeholders, including non-government organizations (NGOs), financial institutions, and donors, in adding microfinance as an adaptation measure is also positively influencing the regional market. Apart from this, the launch of promising schemes for poor women under these insurance covers by leading market players to help them use their assets more productively and manage risks is expected to propel the Asia Pacific microinsurance market in the coming years.
Ask Analyst for Instant Discount and Download Full Report with TOC & List of Figure: https://www.imarcgroup.com/asia-pacific-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 Country:
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
Key Highlights of the Report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
Note: 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.
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• https://www.einpresswire.com/article/603003086/india-drones-market-to-grow-at-cagr-of-10-23-during-2023-2028
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• https://www.einpresswire.com/article/615004899/food-and-beverages-f-b-coding-and-marking-equipment-market-size-share-demand-2023-2028
Contact us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.coms
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800
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.
Microinsurance represents the coverage offered to low-income households with low-valued assets and limited income access. Some of the common types include property insurance, life insurance, health insurance, accidental death and disability insurance, etc. These microinsurance services aid individuals belonging to the financially weaker section of society by facilitating a tailored plan with low premiums, providing compensation for illness, injury, disabilities, and death, and covering several property risks against crops and cattle. They merge multiple small financial units into more massive structures and provide a cushion against exorbitant interest rates charged by unorganized money lenders and unexpected losses. Consequently, microinsurance solutions are in extensive demand across the Asia Pacific region.
Request Free Sample Report (Exclusive Offer on this report): https://www.imarcgroup.com/asia-pacific-microinsurance-market/requestsample
Asia Pacific Microinsurance Market Trends and Demand:
The growth of the insurance industry and the increasing focus on improving access to financial services among all classes of society are among the key factors driving the Asia Pacific microinsurance market. Additionally, the introduction of peer-to-peer models and other such consumer-friendly insurance products that offer flexible terms and an end-to-end digital experience to consumers and ensure transparency between the insurance takers and service providers is acting as another significant growth-inducing factor. Moreover, the escalating number of policies becoming digitally available and the rising interest of various stakeholders, including non-government organizations (NGOs), financial institutions, and donors, in adding microfinance as an adaptation measure is also positively influencing the regional market. Apart from this, the launch of promising schemes for poor women under these insurance covers by leading market players to help them use their assets more productively and manage risks is expected to propel the Asia Pacific microinsurance market in the coming years.
Ask Analyst for Instant Discount and Download Full Report with TOC & List of Figure: https://www.imarcgroup.com/asia-pacific-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 Country:
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
Key Highlights of the Report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
Note: 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.
Browse More Research Reports:
• https://www.einpresswire.com/article/602996221/india-mushroom-market-to-grow-at-cagr-of-7-6-during-2023-2028
• https://www.einpresswire.com/article/603003086/india-drones-market-to-grow-at-cagr-of-10-23-during-2023-2028
• https://www.einpresswire.com/article/603005986/india-extended-warranty-market-to-grow-at-cagr-of-11-65-during-2023-2028
• https://www.einpresswire.com/article/614993429/iot-device-management-market-to-grow-at-26-7-cagr-by-2023-2028-imarc-group
• https://www.einpresswire.com/article/615004899/food-and-beverages-f-b-coding-and-marking-equipment-market-size-share-demand-2023-2028
Contact us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.coms
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800
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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