Contacto
![Contacto Nerea Marcos](https://cdn.statcdn.com/contactPerson/3359.jpg)
Lu - vi, 9:30 - 17:00 h (CET)
![Contacto Meredith Alda](https://cdn.statcdn.com/contactPerson/3646.jpg)
Lu - vi, 9:00 - 18:00 h (EST)
![Contacto Yolanda Mega](https://cdn.statcdn.com/contactPerson/3195.jpg)
Lu - vi, 9:00 - 17:00 h (SGT)
![Contacto Kisara Mizuno](https://cdn.statcdn.com/contactPerson/2661.jpg)
Lu - vi, 10:00 - 18:00 h (JST)
![Contacto Lodovica Biagi](https://cdn.statcdn.com/contactPerson/863.jpg)
Lu - vi, 9:30 - 17:00 h (GMT)
![Contacto Carolina Dulin](https://cdn.statcdn.com/contactPerson/3012.jpg)
Lu - vi, 9:00am-6:00pm (EST)
The Non-life insurances market in Southern Europe is witnessing significant growth and development, driven by various factors shaping the industry in the region.
Customer preferences: Customers in Southern Europe are increasingly seeking non-life insurance products that provide comprehensive coverage at competitive prices. They are placing importance on policies that offer flexibility and customization to suit their individual needs. Additionally, there is a growing demand for digital solutions and quick claims processing, reflecting a shift towards convenience and efficiency in the market.
Trends in the market: In Italy, there is a noticeable trend towards motor vehicle insurance, driven by the high number of vehicles on the road and the mandatory requirement for coverage. Home insurance is also gaining traction in Spain, as homeowners seek to protect their properties from natural disasters and other risks. Furthermore, the travel insurance segment is seeing growth across the region, fueled by an increase in international travel and the awareness of unforeseen events during trips.
Local special circumstances: Southern Europe's geographical location makes it prone to natural disasters such as earthquakes, wildfires, and floods. This unique aspect influences the types of non-life insurance products that are popular in the region. For example, there is a higher demand for property and casualty insurance to safeguard against potential damages caused by these natural events.
Underlying macroeconomic factors: The economic stability and growth in Southern Europe play a crucial role in the development of the non-life insurance market. As the region continues to recover from past financial crises, there is a renewed focus on risk management and financial protection. The increasing disposable income levels among the population also contribute to the rise in insurance penetration rates, indicating a greater awareness of the importance of non-life insurance products.
Data coverage:
Data encompasses B2B and B2C enterprises. Figures are based on gross written premium, gross written premium per capita, gross claim payments, loss ratio, and distribution channels.Modeling approach / Market size:
Market sizes are determined by a Bottom-Up approach, based on a specific rationale for each market layer. As a basis for evaluating markets, we use industry associations, national statistic offices, and international organizations, such as OECD. Next we use relevant key market indicators and data from country-specific associations such as insurance consumer spending, gross domestic product, insurance - consumer price index (CPI), population growth. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing and HOLT-linear. The main drivers are insurance consumer spending and insurance - consumer price index (CPI).Additional Notes:
The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.Lu - vi, 9:30 - 17:00 h (CET)
Lu - vi, 9:00 - 18:00 h (EST)
Lu - vi, 9:00 - 17:00 h (SGT)
Lu - vi, 10:00 - 18:00 h (JST)
Lu - vi, 9:30 - 17:00 h (GMT)
Lu - vi, 9:00am-6:00pm (EST)