Finance & Service

According to a market report by Lucintel, the future of the commercial insurance market looks promising with opportunities in the manufacturing, construction, transportation and logistics, IT and telecom, healthcare, and energy and utilities industries. The commercial insurance market is expected to grow with a CAGR of 7% to 9% from 2022 to 2027. The major drivers for this market are growing awareness among enterprises to protect assets and well-being of employees, rising numbers of insurance providers and lucrative offers at low premium costs, government initiatives to encourage business owners to purchase insurances, and competition among enterprises to protect their reputation.

In this market, liability insurance, commercial motor insurance, commercial property insurance, marine insurance, other types of insurance are provided to various industry verticals depending upon their need and preferences. Lucintel forecasts that liability insurance type will remain the largest segment due to the benefits covered under this insurance policy including covering all types of damages caused by the business to another person or party, thereby protecting the business owners from unanticipated financial losses.

Within the commercial insurance market, transportation & logistics will remain the largest segment over the forecast period due to rapid growth and development in port, marine, and road transportation specifically in emerging economies, fear of unpredictable loss considering sensitivity and numerous risks associated with shipping, and increased demand for E-commerce and online shopping.

North America is expected to remain the largest market due to adoption of advanced technologies including artificial intelligence (AI), digitization, ease in services by allowing online applications and approvals, chatbots, and well-structured IT infrastructure between the distribution channels. Asia Pacific is expected to witness the highest growth over the forecast period due to the awareness among small, medium, and large enterprises regarding the benefits, growing number of insurance service providers and increasing competition between them allows more services and benefits to commercial insurance users. APAC has the world’s largest population and countries with fastest-growing economies, which are contributing factors in propelling the demand for commercial insurance by various enterprises.

Allianz, Aon plc, American International Group Inc., AXA, Aviva, Direct Line Insurance Group plc, Chubb, Willis Towers Watson, Marsh, and Zurich, are among the major commercial insurance providers.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global commercial insurance market by type, enterprise, distribution channel, and industry verticals, and region. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Global Commercial Insurance Market 2022-2027: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global commercial insurance market by type, enterprise, distribution channel, and industry verticals, and region as follows:



























This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/commercial-insurance-market.aspx or write us at helpdesk@lucintel.com.

About Lucintel

Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

This report answers following 11 key questions:

Q.1 What are some of the most promising potential, high growth opportunities for the global commercial insurance market by type (liability insurance, commercial motor insurance, commercial property insurance, marine insurance, and others), by enterprise (large enterprises and small and medium-sized enterprises) by distribution channel (agents and brokers, direct response, and others) end use industry (manufacturing, construction, transportation and logistics, IT and telecom, healthcare, and energy and utilities, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2 Which segments will grow at a faster pace and why?

Q.3 Which regions will grow at a faster pace and why?

Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?

Q.5 What are the business risks and threats to the market?

Q.6 What are the emerging trends in this market and the reasons behind them?

Q.7 What are the changing demands of customers in the market?

Q.8 What are the new developments in the market? Which companies are leading these developments?

Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?

Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?

Q.11 What M & A activities have taken place in the last 5 years in this market?