2012-09-12 04:45:18 - Personal Accident and Health Insurance in Russia, Key Trends and Opportunities to 2016: Government Initiatives on Healthcare Improvement Will Lead to Market Expansion - a new market research report on companiesandmarkets.com

The growth in Russia´s personal accident and health insurance market can be attributed to the country´s ageing population, robust economic growth, rising disposable income level and increased awareness of the need for insurance, especially among the younger population. The Russian government has made conscious efforts to increase the coverage of health insurance plans in the country during the review period, and aims to provide health insurance to cover the entire Russian population by 2020. Furthermore, the government has also encouraged private companies to be included in the improvement of the country´s healthcare system.

The largest category in the personal accident and health insurance market is health insurance, which generated 94% of the market´s total written premiums in 2011. The growth experienced

 

 

by the health insurance market is mainly due to significant levels of growth in the sale of VMI products, which were driven by an increase in employer contributions.

The personal accident and health insurance market is highly fragmented with the top ten companies accounting for just 11.9% of the total gross written premiums generated by the market in 2010. During the review period, the majority of VMI policies in Russia were traditional sold through the direct marketing channel, followed by agencies, bancassurance and other channels such as brokers. In addition, mandatory health insurance was traditionally sold through the government´s public healthcare network alongside brokers and agencies.

Report Scope

This report provides a comprehensive analysis of the personal accident and health insurance market in Russia:

• It provides historical values for Russia´s personal accident and health insurance market for the report´s 2007–2011 review period and forecast figures for the 2012–2016 forecast period
• It offers a detailed analysis of the key sub-segments in Russia´s personal accident and health insurance market, along with market forecasts until 2016
• It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
• It analyses the various distribution channels for personal accident and health insurance products in Russia
• Using Porter´s industry-standard "Five Forces" analysis, it details the competitive landscape in Russia for the personal accident and health insurance business
• It provides a detailed analysis of the reinsurance market in Russia and its growth prospects
• It profiles the top personal accident and health insurance companies in Russia, and outlines the key regulations affecting them

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