The Commercial Insurance Global Market Report 2023, provides comprehensive information on the commercial insurance market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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https://www.thebusinessresearchcompany.com/report/commercial-insurance-global-market-report
The global commercial insurance market size is expected to grow from $660.90 billion in 2022 to $715.87 billion in 2023 at a compound annual growth rate (CAGR) of 8.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global commercial insurance market size is expected to reach $987.29 billion in 2027 at a CAGR of 8.3%.
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The adoption of advanced technologies is a key trend gaining popularity in the commercial insurance market. Major companies in the market are adopting technologies such as artificial intelligence and the Internet of Things (IoT) to sustain their positions in the market. For instance, in September 2022, NeuralMetrics, a US-based InsurTech company, launched MarketEdge, a proprietary solution based on artificial intelligence and natural language processing (NLP) technology that helps insurance companies research and filter US-based businesses that can be perceived as potential customers for their commercial insurance offerings. The new offering uses databases such as OSHA, the Centers for Medicare and Medicaid Services, the Environmental Protection Agency, paycheck protection recipients, licenses, permits, inspections, and other databases to find leads.
The commercial insurance market is segmented:
1) By Type: Commercial Motor Insurance, Commercial Property Insurance, Liability Insurance, Marine Insurance, Other Types
2) By Enterprise Size: Large Enterprises, Small And Medium-Sized Enterprises
3) By Distribution Channel: Agents And Brokers, Direct Response, Other Distribution Channels
4) By Industry Vertical: Manufacturing, Construction, IT And Telecom, Healthcare, Energy And Utilities, Transportation And Logistics, Other Industry Verticals
Asia-Pacific was the largest region in the commercial insurance market in 2022.
The table of contents in TBRC’s commercial insurance market report includes:
1. Executive Summary
2. Commercial Insurance Market Characteristics
3. Commercial Insurance Market Trends And Strategies
4. Commercial Insurance Market – Macro Economic Scenario
5. Commercial Insurance Market Size And Growth
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28. Key Mergers And Acquisitions In The Commercial Insurance Market
29. Commercial Insurance Market Future Outlook and Potential Analysis
30. Appendix
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