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Special InsurTech: Online Distribution

in-scope

  • Individual insurance policies sold directly to the customer over the internet
  • Individual life insurance
  • Individual health and accident insurance policies (incl. supplementary policies, e.g. dental)
  • Personal motor insurance (incl. cars and motorcycles) and property insurance (home- and farmowners, as well as renters policies)
  • General personal liability insurance

out-of-scope

  • Any type of commercial or group (except family) insurance policies
  • Personal policies sold over other direct channels, such as call center or e-mail
Market definition

Highlights

United States

Currency

$ USD
€ EUR (2016: 1 USD = 0.90554 EUR)
£ GBP (2016: 1 USD = 0.75014 GBP)
  • The direct premiums written in the "Online Insurance Distribution" market amount to US$160,398m in 2018.
  • The direct premiums written are expected to show an annual growth rate (CAGR 2018-2022) of 17.3% resulting in a market volume of US$304,068m in 2022.
  • The market's largest segment is "Property & Casualty" with a market volume of US$94,829m in 2018.
  • In the "Life & Health" segment segment, the number of policies sold online is expected to amount to 52.8m by 2022.
  • The average annual premium paid per policy currently amounts to US$2,072.

Direct Premiums Written Direct Premiums Growth

in the Special InsurTech: Online Distribution market in million US$ in percent

Reading Support Direct Premiums Written in the "Online Insurance Distribution" market amounts to US$160,398m in 2018. Reading Support The "Life & Health" segment is expected to show a direct premiums growth of 22.0% in 2019.

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  • Direct Premiums Written
  • Direct Premiums Growth
Info

Direct Premiums Written:

The "Direct Premiums Written" box shows the forecasted value of direct premiums written for the insurance policies sold via the online direct channel in the selected market (market segment, region) for each year. The figures do not refer to the overall revenue that is generated by the insurance companies.


Direct Premiums Growth:

The "Direct Premiums Growth" box shows the year-over-year development of the direct premiums written for the policies of the selected type (market segment, region) sold online in percentage terms.

A definition and detailed explanation of the displayed markets can be found here.
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Policies in force

in the Special InsurTech: Online Distribution market in millions

Reading Support In the "Life & Health" segment, the number of policies sold online is expected to amount to 52.8m by 2022.

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Policies in force:

The “Policies in force” box shows the number of policies in force sold online for the selected type (market segment, region) in millions for each year.

A definition and detailed explanation of the displayed markets can be found here.
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av. Premium Paid per Policy

in the Special InsurTech: Online Distribution market in US$

Reading Support The average premium paid per policy in the "Life & Health" segment amounts to US$2,072 in 2018.

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Average Transaction Value per User:

The box shows the average premium paid per policy of the selected type (market segment, region) for each year.

A definition and detailed explanation of the displayed markets can be found here.
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Key Market Indicators

The following Key Market Indicators give an overview of the demographic, economic and technological development of the selected region on the basis of general KPIs. The calculation of Statista’s Market Outlook is based on a complex market-driver logic including over 400 region-specific data sets.

2016201720182019202020212022 CAGR
(2016-2022)
Mobile Phones Volume / Capita in units
Average per capita sales of mobile phones in units
x.xx x.xx x.xx x.xx x.xx x.xx x.xx
Laptops Volume / Capita in units
Average per capita sales of laptops and tablets in units. | Source: Statista Analysis
x.xx x.xx x.xx x.xx x.xx x.xx x.xx
Desktop-PCs Volume / Capita in units
Average per capita sales of Desktop-PCs in units. | Source: Statista Analysis
x.xxx x.xxx x.xxx x.xxx x.xxx x.xxx x.xxx
Mobile Phones Revenue / Capita in US$
Average revenue of mobile phones per capita
xxx.x xxx.x xxx.x xxx.x xxx.x xxx.x xxx.x
Laptops Revenue / Capita in US$
Average revenue of laptops and tablets per capita. | Source: Statista Analysis
xxx.x xxx.x xxx.x xxx.x xxx.x xxx.x xxx.x
Desktop-PC Revenue / Capita in US$
Average revenue of Desktop-PCs per capita. | Source: Statista Analysis
xx.x xx.x xx.x x.x x.x x.x x.x
New registered companies
Number of newly established and registered companies (within the past 12 months) in the selected region. | Source: OECD, Eurostat, Statista Analysis
xxx,xxx xxx,xxx xxx,xxx xxx,xxx xxx,xxx xxx,xxx xxx,xxx
Smartphone Penetration in %
Percentage of individuals from the total population using a smartphone on a monthly basis. | Source: Statista Analysis
xx.x xx.x xx.x xx.x xx.x xx.x xx.x
Internet Penetration in %
Percentage of individuals from the total population using the internet on a monthly basis. | Source: Statista Analysis
xx.x xx.x xx.x xx.x xx.x xx.x xx.x
Consumer Spending / Capita in US$
Consumer Spending per Capita in the selected region | Source: Statista Analysis, based on UN, World Bank, IMF, Eurostat and national statistical offices
xx,xxx xx,xxx xx,xxx xx,xxx xx,xxx xx,xxx xx,xxx
GDP / Capita in US$
Gross domestic product of the selected region in relation to the total population. | Source: IMF
xx,xxx xx,xxx xx,xxx xx,xxx xx,xxx xx,xxx xx,xxx
Households in m
Total number of households in the selected region. |Source: Statista Analysis
xxx.x xxx.x xxx.x xxx.x xxx.x xxx.x xxx.x
Population in m
Number of individuals (all ages) living in the selected region. | Source: World Bank, Statista Analysis
xxx.x xxx.x xxx.x xxx.x xxx.x xxx.x xxx.x
0-15 years in m
Number of individuals (age 0-15) living in the selected region. | Source: World Bank, Statista Analysis
xx.x xx.x xx.x xx.x xx.x xx.x xx.x
16-24 years in m
Number of individuals (age 16-24) living in the selected region. | Source: World Bank, Statista Analysis
xx.x xx.x xx.x xx.x xx.x xx.x xx.x
25-34 years in m
Number of individuals (age 25-34) living in the selected region. | Source: World Bank, Statista Analysis
xx.x xx.x xx.x xx.x xx.x xx.x xx.x
35-44 years in m
Number of individuals (age 35-44) living in the selected region. | Source: World Bank, Statista Analysis
xx.x xx.x xx.x xx.x xx.x xx.x xx.x
45-54 years in m
Number of individuals (age 45-54) living in the selected region. | Source: World Bank, Statista Analysis
xx.x xx.x xx.x xx.x xx.x xx.x xx.x
55+ years in m
Number of individuals (age 55 and older) living in the selected region. | Source: World Bank, Statista Analysis
xx.x xx.x xx.x xx.x xx.x xxx.x xxx.x
Telecommunication
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Average Connection Speed in kbits/s
Average internet connection speed in Kbits/s. | Source: Akamai, Statista Analysis
xx,xxx xx,xxx xx,xxx xx,xxx xx,xxx xx,xxx xx,xxx
Fixed Broadband Subscription / 100 Capita
Number of fixed broadband subscriptions per 100 inhabitants. | Source: World Bank, Statista Analysis
xx.x xx.x xx.x xx.x xx.x xx.x xx.x
Fixed Telephone Subscriptions / 100 Capita
Fixed telephone subscriptions refers to the sum of active number of analogue fixed telephone lines, voice-over-IP (VoIP) subscriptions, fixed wireless local loop (WLL) subscriptions, ISDN voice-channel equivalents and fixed public payphones. | Source: World Bank, Statista Analysis
xx.x xx.x xx.x xx.x xx.x xx.x xx.x
Mobile cellular subscriptions / 100 Capita
Includes subscriptions to a public mobile telephone service that provide access to the PSTN using cellular technology. | Source: World Bank, Statista Analysis
xxx.x xxx.x xxx.x xxx.x xxx.x xxx.x xxx.x
Finance
Click arrow to expand
Online Banking Penetration in %
Percentage of individuals (total population over 16 years) using online-banking services at least once a year (e.g. bank transfers, account information). | Source: Eurostat, Statista Analysis
xx.x xx.x xx.x xx.x xx.x xx.x xx.x
Debit Card Penetration in %
Percentage of individuals (total population over 16 years) who own at least one debit card. |Source: World Bank, Statista Analysis
xx.x xx.x xx.x xx.x xx.x xx.x xx.x
Risk premium on lending in %
Risk premium on lending is the interest rate charged by banks on loans to private sector customers minus the "risk free" treasury bill interest rate at which short-term government securities are issued or traded in the market.| Source: World Bank, Statista Analysis
x.xx x.xx x.xx x.xx x.xx x.xx x.xx
Lending interest rate in %
Lending rate is the bank rate that usually meets the short- and medium-term financing needs of the private sector. | Source: World Bank, Statista Analysis
x.xx x.xx x.xx x.xx x.xx x.xx x.xx
ATMs / 100,000 Capita
Number of ATMs, Automated teller machines are computerized telecommunications devices that provide clients of a financial institution with access to financial transactions in a public place. | Source: World Bank, Statista Analysis
xxx.x xxx.x xxx.x xxx.x xxx.x xxx.x xxx.x
Source: Statista, April 2018
Source: Statista, April 2018, based on IMF, World Bank, UN and Eurostat
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