Microinsurance Market Industry Overview, Growth Rate and Forecast 2023-2028

1. Global Microinsurance Market Research and Forecast Report 2023-2028 Author: Elena Anderson, Marketing Manager | Copyright © IMARC Service Pvt Ltd. All Rights Reserved IMARC Group © 2019 IMARC All Rights Reserved

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3. Report Description and Highlights Report Description Global Microinsurance Market Research Report: The latest report by IMARC, titled “Microinsurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” " the global microinsurance market reached a value of US$ 83.7 Billion in 2022. Microinsurance refers to a division of microfinance that offers insurance to the under-served or low-income section of the society. It involves the requirement of low premiums that are provided through the four basic models of insurance available in the market, namely full-service, community-based or mutual, partner-agent and provider-driven models. These plans are generally tailored according to the requirements of the consumers. Microinsurance products are commonly delivered to the target users via various intermediaries and institutional channels, including healthcare providers, licensed insurers, microfinance institutions, community-based organizations and non- governmental organizations. Request Free Sample Report: https://www.imarcgroup.com/microinsurance-market/requestsample

4. Report Description and Highlights Report Description Global Microinsurance Market Trends : The global market is majorly driven by the rapid expansion of the insurance sector. As a major indispensable component of the industry, microinsurance is gaining widespread prominence on the global level. This can be accredited to its cost-efficient insurance schemes and the transparent dynamics between the service provider and the insurer. Moreover, numerous organizations are now deploying virtual networks and multichannel interaction platforms in an attempt to provide incentives as well as build a value chain in the microinsurance business. This is creating a positive outlook for the market. The market is further driven by the continual developments in regulatory policies across the globe. For instance, the Insurance Regulatory and Development Authority of India (IRDAI) has permitted effective distribution of all microinsurance products via point-of-sales (PoS) in an effort to improve the penetration of microinsurance across India, thereby providing an impetus to the market growth. Some of the other factors contributing to the market growth include the introduction of consumer-friendly insurance models in the market and the growing digitization across the insurance sector. On account of the aforementioned factors, the market is expected to reach a value of US$ 118.8 Billion by 2028. Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).

5. Report Description and Highlights Report Description Market Summary: Product Type Insights: • Property Insurance • Health Insurance • Life Insurance • Index Insurance • Accidental Death and Disability Insurance • Others Provider Insights: • Microinsurance (Commercially Viable) • Microinsurance Through Aid/Government Support Model Type Insights: • Partner Agent Model • Full-Service Model • Provider Driven Model • Community-Based/Mutual Model

6. Report Description and Highlights Report Description • Others Regional Insights: • Asia Pacific • North America • Europe • Middle East and Africa • Latin America Note: We are updating our reports, If you want latest primary and secondary data (2023-2028) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report.

7. Report Description and Highlights Report Description Competitive Landscape with Key Players: • The report has also provided a comprehensive analysis of the competitive landscape in the global microinsurance market. View Full Report with TOC & List of Figure: https://www.imarcgroup.com/microinsurance-market

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10. Report Description and Highlights Report Description © 2019 IMARC All Rights Reserved This Publication and all it’s contents unless otherwise mentioned are copyrighted in the name of International Market Analysis Research and Consulting (IMARC). No part of this publication may be reproduced, repackaged, redistributed or resold in whole or in any part. The publication may also not be used in any form or by and means graphic electronic or mechanical, including photocopying, recording, taping or by information storage or retrieval, or by any other form, without the express consent of International Market Analysis Research and Consulting (IMARC). Disclaimer: All contents and data of this publication, including forecasts, data analysis and opinion have been based on information and sources believed to be accurate and reliable at the time of publishing. International Market Analysis Research and Consulting makes no representation of warranty of any kind as to the accuracy or completeness of any Information provided. IMARC accepts no liability whatsoever for any loss or damage resulting from opinion, errors or inaccuracies if any found this publication. IMARC, IMARC Group and Global Therapy Insight Series are registered trademarks of International Market Analysis Research and Consulting. All other trademarks used in this publication are registered trademarks of their respective companies.

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