Germany’s personal accident and health insurance segment is expected to grow at a CAGR of over 3% over the next four years,

Friday 25 July 2014, Amsterdam

Report description overview:

The new report now available on ASDReports, provides in-depth market analysis, information and insights into the German personal accident and health insurance segment, including the German personal accident and health insurance segment’s growth prospects by insurance categories, key trends and drivers for the personal accident and health insurance segment and various distribution channels in the German personal accident and health insurance segment. Also covered is, the detailed competitive landscape in the personal accident and health insurance segment in Germany and a description of the personal accident and health reinsurance segment in Germany.

The difference:

• Make strategic business decisions using in depth historic and forecast market data related to the German personal accident and health insurance segment and each category within it
• Understand the demand-side dynamics, key market trends and growth opportunities within the German personal accident and health insurance segment
• Assess the competitive dynamics in the personal accident and health insurance segment, along with the reinsurance segment

Additional report highlights:
The government’s abolition of a three-year waiting period for an individual to move from state-regulated to private health insurance enabled more Germans to purchase private health cover. Demand for personal accident and health insurance has also been positively influenced by the occurrence of natural disasters such as hurricane Kyrill and cyclone Emma, and backed by economic growth.

The aging population was an important driver of the personal accident and health segment during the review period, a trend that is expected to continue over the forecast period. In 2013 there were 17 million people over the age of 65 in Germany, comprising almost 21% of the population, with this figure expected to increase to 17.8 million in 2017, representing over 22% of the overall population. This demographic trend has significantly increased the demand for private health insurance in Germany, as senior citizens prefer not to wait for extended periods for a medical appointment at a public hospital, and therefore invest in private health insurance for quicker treatment at private hospitals.
In order to remain competitive, insurance companies are forced to significantly reduce their administrative and customer acquisition costs. While some companies streamline their IT facilities to further improve efficiency and enhance customer experience, others are outsourcing part of their operations to low-cost destinations.