Covid-19 Impact on Critical Illness Insurance Market by Technology, Trends, Opportunities, Top Key Players and more...

A new market study, titled “Global Critical Illness Insurance Market Growth (Status and Outlook) 2019-2024”, has been featured on WiseGuyReports.

PUNE, MAHARASTRA, INDIA, May 13, 2020 /EINPresswire.com/ -- Critical Illness Insurance Market

Critical illness insurance, otherwise known as critical illness cover or a dread disease policy, is an insurance product in which the insurer is contracted to typically make a lump sum cash payment if the policyholder is diagnosed with one of the specific illnesses on a predetermined list as part of an insurance policy.

The policy may also be structured to pay out regular income and the payout may also be on the policyholder undergoing a surgical procedure, for example, having a heart bypass operation.
Critical illness insurance, otherwise known as critical illness cover or a dread disease policy, is an insurance product in which the insurer is contracted to typically make a lump sum cash payment if the policyholder is diagnosed with one of the specific illnesses on a predetermined list as part of an insurance policy.

In the last several years, global market of critical illness insurance developed rapidly, with CAGR of 16.48%. In 2017, global market size of critical illness insurance is nearly 27338.56 M ; Asia region, especially China is estimated to account for the largest share, in terms of Population and economy, of the global critical illness insurance market in 2017. The region comprises some of the fastest developing economies in the world, including China, India, Japan and Korea. This has led to an increase in Insurance investment over the years.

The key manufacturers covered in this report:
China Life Insurance
Ping An Insurance
China Pacific Insurance
Aviva
Legal & General
New China Life Insurance
AXA
Prudential plc
Aegon
Allianz
AIG
UnitedHealthcare
Zurich
MetLife
Dai-ichi Life Group
Sun Life Financial
Huaxia life Insurance
Aflac
Liberty Mutual
HCF

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There are three kinds of Critical illness insurance paid out (cancer, Cancer, Heart Attack and Stroke), Cancer remains the most common cause of critical illness claims at 67.94%, followed by heart attack (13.34%), stroke (8.46%) and Other (10.26%) in 2017

According to this study, over the next five years the Critical Illness Insurance market will register a 16.4% CAGR in terms of revenue, the global market size will reach US$ 63700 million by 2024, from US$ 25600 million in 2019. In particular, this report presents the global revenue market share of key companies in Critical Illness Insurance business, shared in Chapter 3.

This report presents a comprehensive overview, market shares and growth opportunities of Critical Illness Insurance market by product type, application, key companies and key regions.

This study considers the Critical Illness Insurance value generated from the sales of the following segments:

Segmentation by product type:
Disease Insurance
Medical Insurance

Segmentation by application:
Cancer
Heart Attack
Stroke

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Spain
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.

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Research objectives
To study and analyze the global Critical Illness Insurance market size by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Critical Illness Insurance market by identifying its various subsegments.
Focuses on the key global Critical Illness Insurance players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Critical Illness Insurance with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the size of Critical Illness Insurance submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.

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