2014-04-03 00:41:01 - Personal Accident and Health Insurance in Austria, Key Trends and Opportunities to 2017 - a new market research report on companiesandmarkets.com
The personal accident and health insurance segment accounted for the lowest market share (16.4%) of the Austrian insurance industry in 2012. However, in terms of gross written premium, the segment registered strong growth and posted a review-period CAGR of 3.6%.
The travel and healthcare insurance categories benefited from Austria´s improving macroeconomic factors, proximity with the world´s leading economies, entry to the EU and growth in the number of inbound and outbound travelers due to commercial partnerships.
The personal accident insurance category grew in written premium value at a review-period CAGR of 4.1%, and is expected to increase post a forecast-period CAGR of 3.7%. Private health insurance is complementary in Austria and people choose it on the basis that it cover diseases not
covered under the statutory system and can shorten waiting times.
The Austrian social security system discourages investments in private healthcare insurance products. The increasing number of outbound travelers from Austria and the country´s improving commercial relationships with neighboring countries is expected to support the growth of the travel insurance category over the forecast period. The Austrian personal accident and health insurance segment is highly concentrated, with the four leading companies together accounting for 95.7% of the segment´s total written premiums in 2012.
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