Microinsurance Market in the Philippines 2016-2020

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Date: 14-Sep-2016
No. of pages: 75
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Micro-insurance products are coverage policies targeted at households with low income levels. Micro-insurance plans provide tailored insurance coverage policies for individuals with little or low saving plans. Such policies provide lower value assets and compensation for injury, illness, or death to an individual than in other insurance policies. Micro-insurance companies assist poor families by offering customized insurance plans to meet the specific needs of the customers. The value of the coverage policy is lower compared to other insurance plans because of which the policyholder pays smaller premiums to the insurance company than in the case of a usual plan. The micro-insurance market is stronger in developing countries which offer high growth opportunities for the insurance industry.

The analysts forecast micro-insurance market in the Philippines to grow at a CAGR of 21.47% during the period 2016-2020.

Covered in this report

This report covers the present scenario and the growth prospects of the micro-insurance market in the Philippines for 2016-2020. To calculate the market size, the report considered the premiums earned from accidental micro-insurance, life micro-insurance, health micro-insurance, agriculture micro-insurance, and property micro-insurance from the Philippines market.

The report, Micro-Insurance Market in the Philippines 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors


  • AIG Philippines

  • Asian Life and General Assurance

  • CARD Pioneer

  • CLIMBS Life


Other prominent vendors


  • AFP General lnsurance

  • PNB MetLife

  • xMicroEnsure


Market driver


  • Encouraging regulatory environment

  • For a full, detailed list, view our report


Market challenge


  • Lack of trained staff to explain insurance products to the poor

  • For a full, detailed list, view our report


Market trend


  • Increase in financial inclusion programs

  • For a full, detailed list, view our report


Key questions answered in this report


  • What will the market size be in 2020 and what will the growth rate be?

  • What are the key market trends?

  • What is driving this market?

  • What are the challenges to market growth?

  • Who are the key vendors in this market space?

  • What are the market opportunities and threats faced by the key vendors?

  • What are the strengths and weaknesses of the key vendors?

Microinsurance Market in the Philippines 2016-2020

Table of Contents

PART 01: Executive summary
Highlights

PART 02: Scope of the report
Market overview
Top-vendor offerings

PART 03: Market research methodology
Research methodology
Economic indicators

PART 04: Introduction
Key market highlights
Definition of micro-insurance
Key players in micro-insurance value chain
Micro-insurance transaction
Role of policy and regulation in shaping business environment of micro-insurance sector
Difference between traditional insurance and micro-insurance

PART 05: Market landscape
Market overview
Market size and forecast
Five forces analysis

PART 06: Market drivers
Encouraging regulatory environment
Impact of growing urbanization on markets pertaining to life micro-insurance, health micro-insurance, and various kinds of agricultural insurance
Different valuation strategies

PART 07: Impact of drivers

PART 08: Market challenges
Decapitalization due to high insurance claims
Lack of trained staff to explain insurance products to the poor
Difficulty in credit assessment

PART 09: Impact of drivers and challenges

PART 10: Market trends
Increase in financial inclusion programs
Micro-insurance becoming mandatory
Leveraging social media channels for better market penetration and better customer connectivity

PART 11: Vendor landscape
Competitive landscape
Other prominent vendors

PART 12: Key vendor analysis
AIG Philippines
Asian Life and General Assurance
CARD Pioneer
CLIMBS Life

PART 13: Appendix
List of abbreviations

List of Exhibits

Exhibit 01: Products offered by micro-insurance providers
Exhibit 02: Product offerings
Exhibit 03: Key players in micro-insurance value chain
Exhibit 04: Life cycle of micro-insurance
Exhibit 05: Role of policy and regulation in shaping business environment of micro-insurance sector
Exhibit 06: Difference between traditional insurance and micro-insurance
Exhibit 07: Products offered by micro-insurance providers
Exhibit 08: Concept of life insurance based on two fundamental principles
Exhibit 09: Personal uses of life insurance business
Exhibit 10: Types of life insurance
Exhibit 11: Primary reasons for investing in life insurance
Exhibit 12: Types of property insurance
Exhibit 13: Damages and losses covered under property insurance
Exhibit 14: Global micro-insurance market in Philippines 2015-2020 ($ millions)
Exhibit 15: Premium generated and forecasted from different micro-insurance products 2015-2020
Exhibit 16: Market share of micro-insurance products in Philippines 2015 and 2020
Exhibit 17: Reasons for upgrading capital management
Exhibit 18: Strategies to manage significant risks for low-income people
Exhibit 19: Five forces analysis
Exhibit 20: Whole life insurance policy features
Exhibit 21: Impact of drivers
Exhibit 22: Impact of drivers and challenges
Exhibit 23: Benefits of mandatory coverage
Exhibit 24: Social media benefits to insurance firms
Exhibit 25: Innovations in customer services
Exhibit 26: Factors that drive customer satisfaction
Exhibit 27: Customer connectivity
Exhibit 28: Other prominent vendors
Exhibit 29: AIG Philippines: Key takeaways
Exhibit 30: Recent developments
Exhibit 31: Asian Life and General Assurance: Key takeaways
Exhibit 32: CARD Pioneer: Service portfolio
Exhibit 33: Recent developments
Exhibit 34: CARD Pioneer: Key takeaways
Exhibit 35: CLIMBS Life: Product and service portfolio
Exhibit 36: Recent developments
Exhibit 37: CLIMBS Life: Key takeaways

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