Czech Republic Insurance Market Intelligence - Market Research Reports On Aarkstore Enterprise
Czech Republic Insurance Market Intelligence "The Czech insurance industry has been
growing at a notable pace since the early nineties, mainly because of government reforms, increasing income, and household expenditure in non-food categories, demand for investment-linked products and improved sales channel (bancassurance). Despite the slowdown of domestic economy in 2008, the insurance sector recorded growth, particularly on account of the number of vehicles registered. Growth was also supported by increased demand for insurance resulting from changes in legislations which introduced effective penalization of those who fail to pay motor third party liability insurance, which is compulsory under the law. Increased available income, investment in non-food items, such as automobiles and property, and demand for health and retirement-savings product, compulsory motor third-party liability insurance and aging population are some of the important growth drivers of the industry.In terms of segment wise market share, the non-life businesses have dominated the domestic insurance market. However, with the rising popularity of unit-linked and assurance on death, survival, etc. products, the life insurance market has also been exhibiting higher growth and expansion. The key reason to fuel the demand for non-life insurance products is the frequent occurrence of natural disasters in the region, such as the massive floods of August 2002 and the Kyrill storm which affected the region in 2007. Fro the coming years, the insurance market in Czech Republic is expected to offer growth opportunities on account of low penetration of products and increasing interest of foreign players, which would lead to the introduction of new products as well as improved sales and promotional activities.
The present report gives an overview of Czech Republics insurance market along with an analysis of the countrys political structure and the economic growth. The report provides an insight into the market size and growth in insurance premiums as well as life and non-life premiums. Insurance premiums are discussed in terms of life and non-life segments and the density and penetration levels. The various developments and drivers are also discussed and finally the projections regarding premium growth are given.
By combining SPSS Inc.s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the insurance industry in the country. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry and its sub-segments life and non-life insurance. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.
Table of Contents :
1. Industry Snapshot
1.1 Industry Structure
1.1.1 Formation of Insurance Institutes
1.1.2 Implementation of Reforms and Legislations, Rapid Changes in Industry
1.1.3 Formation of New Structure, Increase in Foreign Undertakings
1.2 Market Overview
1.2.1 Market Size & Growth
1.2.1.1 Health, Unit-Linked, Property and Motor One of the Few Growing Segments
1.2.1.2 Slowdown to Impact Non-Life More than Life
1.2.2 Market Segments
1.2.2.1 Dominated By Non-Life Segment, Motor Insurance Largest Share
1.2.2.2 Life Growing Higher Due to Unit-Linked and Assurance on Death, Survival
1.2.2.3 Assurance on Death, Survival Largest Share in Life Insurance Segment
1.2.2.4 Health Insurance Mandatory
1.2.3 Market Share
1.2.3.1 Dominated By Foreign Insurance Providers
1.2.3.2 Increasing Number of Foreign Participation, Expected Intensification in Competition
1.2.3.3 Concentrated Market, Non-Life Having Higher Concentration
1.2.4 Market Density & Penetration
1.2.4.1 Continuous Increase in Insurance Density, Higher Demand for Non-Life Products
1.2.4.2 Declining Penetration Rate, Lower Sector Growth than Overall GDP Growth
2. Industry Analysis
2.1 Industry Developments
Launch of Address-Specific Flood Risk Portal
New Licenses Issued By Czech National Bank
Changes in Motor Vehicle Insurance Law
2.2 Market Drivers
Expanding Economy
Increasing Disposable Income
Increasing Demand for Automobiles
3. Country Analysis: Risk Assessment
3.1 Political Environment
3.2 Macro-Economic Indicators: Current and Projections
4. Industry Outlook: Forecast and Projections
4.1 Rising Income, Automobiles and Property, and Health and Retirement-Savings Product to Drive the Industry
4.2 Innovative Products and Alternative Distribution Channels Providing Opportunities
4.3 Upsurge in Natural Disasters Continues to Drive Growth in Non-Life Segment
List of Tables
Czech Republic: Gross National Savings (2001 2008)
Gross Disposable Income & Household Consumption Expenditure (20012008)
Key Macroeconomic Indicators: (2008 2013F)
List of Charts
Annual Premium Czech Republic Insurance Industry: (2001-2008)
Annual Premium Czech Republic Insurance Industry: (Q109 vs. Q108)
Insurance Premium Share (%) By Segment (2008)
Insurance Premium by Segment (2001-2008)
Life Insurance Premium Share (%) by Segment (2008)
Non-Life Insurance Premium Share (%) by Segment (2008)
Czech Republic: Major Non-Life Insurers Market Share: (2008)
Czech Republic: Major Life Insurers Market Share: (2008)
Czech Republic Insurance Density: (2001 2008)
Czech Republic Insurance Penetration: (2001 2008)
GDP Growth of Czech Republic: (2001 2008)
Czech Republic Registered Motor Vehicles ('000 Units): (2001 2008)
Forecast: Czech Republic Insurance Industry: (2008A 2012F)
Forecast: Czech Republic Life & Non-Life Insurance Industry: (2008A 2012F)
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