Life & Health

United States

Highlights
Market definition
in-scope / out-of-scope
Reports
  • The direct premiums written in the Life & Health segment amount to US$65,568m in 2018.
  • The direct premiums written are expected to show an annual growth rate (CAGR 2018-2022) of 18.9% resulting in a market volume of US$130,886m by 2022.
  • The market's largest segment is Health insurance with a market volume of US$45,447m 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.
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The Life&Health insurance market segment relates to digital distribution of individual life, accident and health insurance. It comprises policies that are sold directly to the customer via direct online channels, such as insurance company website or an aggregator plattform. Prerequisite is that the customer has completed the entire application or enrollment process online before the policy was issued.

All financial information refers to the potential direct premiums written for policies sold online in the respective products groups. Both new policies and renewal of policies once purchased online are included in the total direct premiums written calculation. Accident and health insurance policies, sold by life insurance companies, are attributed to the health insurance market.

Policy coverage may include children and other family members of the insured. Policies sold over other direct channels, such as call center or via e-mail, are not considered and the policies sold offline by an agent of company employee to a customer after he or she has requested a quote online are not included.
in-scope
  • Personal life and health insurance policies sold directly to the customer over the internet
  • Term, whole and universal life insurance, including individual annuities
  • Individual credit life insurance policies
  • Private individual health insurance policies, including supplementary policies, e.g. dental insurance. Policy coverage may include children and other family members of the insured
out-of-scope
  • Industrial and professional life insurance
  • Group and collective life and health insurance
  • Public health scheme insurance
Direct Premiums Written (2018)
+24.8% yoy
US$65,568m
Policies in force (2018)
+16.6% yoy
31.7m

Direct Premiums Written Direct Premiums Growth

in the Life & Health market in million US$ in percent

Reading Support Direct Premiums Written in the Life & Health segment amounts to US$65,568m in 2018. Reading Support The Life & Health segment is expected to show a direct premiums growth of 22.0% in 2019.

  • 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 Penetration Rate

in the Life & Health market in millions in percent

Reading Support In the Life & Health segment, the number of policies sold online is expected to amount to 52.8m by 2022. Reading Support User penetration in the Life & Health segment is at 9.7% in 2018.

  • Policies in force
  • Penetration Rate
Info

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.


Penetration Rate:

The “Penetration Rate” box shows the share of policies in force sold online from the total population of the selected market (market segment, region) 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 Life & Health market in US$

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

Info

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)
Internet Penetration in %
Percentage of individuals from the total population using the internet on a monthly basis. | Source: Statista Analysis
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GDP / Capita in US$
Gross domestic product of the selected region in relation to the total population. | Source: IMF
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Households in m
Total number of households in the selected region. | Source: Statista Analysis
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New registered companies
Number of newly established and registered companies (within the past 12 months) in the selected region. | Source: OECD, Eurostat, Statista Analysis
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Population in m
Number of individuals (all ages) living in the selected region. | Source: World Bank, Statista Analysis
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0-15 years in m
Number of individuals (age 0-15) living in the selected region. | Source: World Bank, Statista Analysis
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16-24 years in m
Number of individuals (age 16-24) living in the selected region. | Source: World Bank, Statista Analysis
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25-34 years in m
Number of individuals (age 25-34) living in the selected region. | Source: World Bank, Statista Analysis
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35-44 years in m
Number of individuals (age 35-44) living in the selected region. | Source: World Bank, Statista Analysis
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45-54 years in m
Number of individuals (age 45-54) living in the selected region. | Source: World Bank, Statista Analysis
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55+ years in m
Number of individuals (age 55 and older) living in the selected region. | Source: World Bank, Statista Analysis
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Consumer Spending / Capita in US$
Average consumer spending per capita of private households in the selected region | Source: Statista Analysis, based on UN, World Bank, IMF, Eurostat and national statistical offices
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Telecommunication
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Average Connection Speed in kbits/s
Average internet connection speed in Kbits/s. | Source: Akamai, Statista Analysis
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Fixed Broadband Subscription / 100 Capita
Number of fixed broadband subscriptions per 100 inhabitants. | Source: World Bank, Statista Analysis
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Smartphone Penetration in %
Percentage of individuals from the total population using a smartphone on a monthly basis. | Source: Statista Analysis
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Mobile Phones Volume / Capita in units
Average per capita sales of mobile phones in units | Source: Statista Analysis
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Laptops Volume / Capita in units
Average per capita sales of laptops and tablets in units. | Source: Statista Analysis
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Desktop-PCs Volume / Capita in units
Average per capita sales of Desktop-PCs in units. | Source: Statista Analysis
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Mobile Phones Revenue / Capita in US$
Average revenue of mobile phones per capita | Source: Statista Analysis
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Laptops Revenue / Capita in US$
Average revenue of laptops and tablets per capita. | Source: Statista Analysis
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Desktop-PC Revenue / Capita in US$
Average revenue of Desktop-PCs per capita. | Source: Statista Analysis
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Finance
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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
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Debit Card Penetration in %
Percentage of individuals (total population over 16 years) who own at least one debit card. | Source: World Bank, Statista Analysis
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Source: Statista, September 2018
Source: Statista, September 2018, based on IMF, World Bank, UN and Eurostat
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