- Online Life Insurance Market in Japan to Grow at a CAGR of 16.84 percent
TechNavio, the independent London-based global research firm, today announced the publication of its research report on the Online Life Insurance Market in Japan. The report finds growing affinity for online insurance is a key trend affecting the online life insurance market in Japan during the forecast period 2014-2018.
As per research analysis, the market share for online life insurance in Japan currently stands at just over 0.50 percent of new policies sold and 0.20 percent of the number of policies in force. There is significant growth potential in the underwriting business in the online life Insurance market. Approximately 80 percent of life insurance policyholders are in the age group of 20 to 40 years and many of them have families with young children. This makes them a potential segment for the market because, with the increasing usage of the internet and electronic gadgets, clients are increasingly becoming reliant on their own research rather than depending on insurance agents for information on insurance products and doing transactions.
Currently, the Online Life Insurance market in Japan is witnessing a rapid increase in the issue of new policies. The total insurance premium received through the issues of new policies is growing at a CAGR of 7.64 percent and this will continue to grow during the forecast period as well.
To determine the scenario for these vendors in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentation, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the Online Life Insurance Market in Japan 2014-2018, please send an e-mail to media@TechNavio.com
About TechNavio
TechNavio is a leading technology research and advisory company with a global coverage. We focus on emerging technology trends that can shape the market. We identify and explain these trends to our customers to help them take better decisions.
TechNavio models the trends using a mix of quantitative and qualitative tools in its proprietary research methodologies. We build forecasts across market segments and geographies based on the trends identified. These forecasts and analysis are used to help our customers identify new and existing opportunities in their markets. We also help customers assess their competitive position in a changing market scenario.
TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape of Online Life Insurance Market in Japan. Our analysts obtain the information using a combination of the bottom-up and top-down approaches, besides using in-house market modeling tools. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
Decision makers and influencers in sales & marketing, strategy, product and R&D teams rely on research from TechNavio. We have a large and growing base of happy customers worldwide. Our customers include technology suppliers, end users, consulting companies, investment firms and research institutes.
Founded in 2003, TechNavio has about 200 analysts globally. We cover more than 500 technologies across 80 countries. Our analysts are closely monitoring the market every day by talking to all the industry participants. We have proprietary databases that provide us with a complete perspective of the market. TechNavio develops over 2000 pieces of research deliverables every year.
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