Report overview
All businesses are exposed to various risks which are either man-made or natural. Insurance is a prudent way to limit liabilities in the event of an unpleasant occurrence to assets, property and business.The usual customers of SME insurance are small and medium-sized enterprise, the insurance mainly include property insurance, public liability insurance, business interruption insurance, workers compensation insurance, goods in transit insurance and others.
This report aims to provide a comprehensive presentation of the global market for SME Insurance, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding SME Insurance. This report contains market size and forecasts of SME Insurance in global, including the following market information:
Global SME Insurance Market Revenue, 2018-2023, 2024-2029, ($ millions)
Global top five companies in 2022 (%)
The global SME Insurance market was valued at US$ 18530 million in 2022 and is projected to reach US$ 24420 million by 2029, at a CAGR of 4.0% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
Global SME insurance main manufacturers include Allianz, AXA, PICC, China Life, Zurich, Chubb, Aviva, AIG, Liberty Mutual, CPIC, Nationwide, Mapfrem, Sompo Japan Nipponkoa, Tokio Marine, Hanover Insurance, Hiscox, etc., totally accounting for about 40%. Americas is the largest market, with a share over 32%. As for the types of products, it can be divided into insurance for non-employing, insurance for 1-9 employees and insurance for above 10 employees. Insurance for non-employing is the largest segment, holding a share over 70%. In terms of distribution channel, it can be divided into agency, digital and direct channels, brokers and bancassurance. Agency is the largest segment, with a share over 57%.
We surveyed the SME Insurance companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global SME Insurance Market, by Type, 2018-2023, 2024-2029 ($ millions)
Global SME Insurance Market Segment Percentages, by Type, 2022 (%)
Insurance for Non-employing
Insurance for 1-9 Employees
Insurance for above 10 Employees
Global SME Insurance Market, by Distrubution Channel, 2018-2023, 2024-2029 ($ millions)
Global SME Insurance Market Segment Percentages, by Distrubution Channel, 2022 (%)
Agency
Digital and Direct Channels
Brokers
Bancassurance
Global SME Insurance Market, By Region and Country, 2018-2023, 2024-2029 ($ Millions)
Global SME Insurance Market Segment Percentages, By Region and Country, 2022 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies SME Insurance revenues in global market, 2018-2023 (estimated), ($ millions)
Key companies SME Insurance revenues share in global market, 2022 (%)
Further, the report presents profiles of competitors in the market, key players include:
Allianz
AXA
PICC
China Life
Zurich
Chubb
Aviva
AIG
Liberty Mutual
CPIC
Nationwide
Mapfre
Sompo Japan Nipponkoa
Tokio Marine
Hanover Insurance
Hiscox
Outline of Major Chapters:
Chapter 1: Introduces the definition of SME Insurance, market overview.
Chapter 2: Global SME Insurance market size in revenue.
Chapter 3: Detailed analysis of SME Insurance company competitive landscape, revenue and market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by distrubution channel, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of SME Insurance in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: The main points and conclusions of the report.
