Crop Insurance Market by Coverage (Multi-peril Crop Insurance [MPCI] and Crop-hail Insurance) and Distribution Channel (Banks, Insurance Companies, Brokers/Agents, and Other): Global Opportunity Analysis and Industry Forecast, 20202027
- Published Date: 2020-11-26
- Report ID: 21705
- Pages: 214
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Format:
Crop insurance is a yield-based policy, which provides protection against loss of crops due to natural disasters such as floods, hurricanes, hail, drought, fires, and earthquakes. In addition, it provides coverage for loss of revenue due to decline in prices of agricultural commodities. Primarily, crop insurance involves two general categories, crop-revenue insurance & crop-yield insurance, which are purchased by farmers, ranchers, beekeeper, and other agricultural producers. Moreover, to avail crop insurance coverage, policyholders formulate a contract with several crop insurance providers in the market.
Rise in support from several governments for protecting farmers against fluctuations in revenues, prices, and yields helps in availing crop insurance coverage with more alternatives & customized options. In addition, introduction of technologies such as artificial intelligence, mobile applications, satellite, drones, and Internet of Things (IoT) drives the market growth. This is attributed to the fact that these technologies provide several digitalized features such as storage of data related to crops & micro-level information, detection of diseased crops, and predictive analysis for historical weather data. However, low awareness regarding crop insurance, high cost of premiums, and long claim settlement processes are some of the factors limiting the market growth.
On the contrary, value-added offered by crop insurance providers to their customers and expansion of product & service offerings by entering into partnerships significantly contribute toward the growth of the market. In addition, developing economies offer significant opportunities for insurers to expand their business by strengthening policies and to support the development of crop insurance market in Asia-Pacific. Furthermore, implementation of technologies can help insurers to collect premiums & pay out claims and to register information & location of farmers. Therefore, these factors are expected to provide lucrative opportunities for the crop insurance providers during the forecast period.
The crop insurance market is segmented into coverage type, distribution channel, and region. In terms of coverage type, it is classified into multi-peril crop insurance (MPCI) and crop-hail insurance. Depending on distribution channel, it is fragmented into banks, insurance companies, brokers/agents, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report analyzes the profiles of key players operating in the market, which include Agriculture Insurance Company of India Limited (AIC), American Financial Group, Inc., Chubb, Fairfax Financial Holdings Limited, ICICI Lombard General Insurance Company Limited, PICC, QBE Insurance Group Limited, Sompo International Holdings Ltd, Tokio Marine HCC, and Zurich. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
Key benefits for stakeholders
The study provides an in-depth analysis of the global crop insurance market along with the current trends and future estimations to elucidate the imminent investment pockets.
Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided in the report.
Porters five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
The quantitative analysis of the global crop insurance market from 2020 to 2027 is provided to determine the market potential.
Key market segments
By Coverage Type
Multi-peril Crop Insurance (MPCI)
Crop-hail Insurance
Distribution Channel
Banks
Insurance Companies
Brokers/Agents
Others
By Region
North America
o U.S.
o Canada
Europe
o Spain
o Germany
o France
o Italy
o Russia
o Netherlands
o Rest of Europe
Asia-Pacific
o China
o India
o Japan
o Australia
o South Korea
o Rest of Asia-Pacific
LAMEA
o Latin America
o Middle East
o Africa
KEY MARKET PLAYERS
Agriculture Insurance Company of India Limited (AIC)
American Financial Group, Inc.
Chubb
Fairfax Financial Holdings Limited
ICICI Lombard General Insurance Company Limited
PICC
QBE Insurance Group Limited
Sompo International Holdings Ltd
Tokio Marine HCC
Zurich
CHAPTER 1:INTRODUCTION
1.1.Report description
1.2.Key benefits for stakeholders
1.3.Key market segments
1.4.Research methodology
1.4.1.Secondary research
1.4.2.Primary research
1.4.3.Analyst tools & models
CHAPTER 2:EXECUTIVE SUMMARY
2.1.Key findings
2.1.1.Top impacting factors
2.1.2.Top investment pockets
2.2.CXO perspective
CHAPTER 3:MARKET OVERVIEW
3.1.Market definition and scope
3.2.Key Forces Shaping Crop Insurance Market
3.2.1.Low bargaining power of suppliers
3.2.2.High bargaining power of buyer
3.2.3.Moderate threat of substitutes
3.2.4.Moderate threat of new entrants
3.2.5.High competitive rivalry
3.3.Market dynamics
3.3.1.Drivers
3.3.1.1.Increased digital initiatives in crop insurance
3.3.1.2.Rise in government support in the form of subsidies
3.3.2.Restraint
3.3.2.1.Low awareness of insurance & high cost of premiums
3.3.3.Opportunities
3.3.3.1.Expansion of products and services
3.3.3.2.Untapped potential of emerging economies
3.1.COVID-19 impact analysis on crop insurance market
3.1.1.Impact on crop insurance market size
3.1.2.Change in farmers trends, preferences, and budget impact due to COVID-19
3.1.3.Framework for solving market challenges faced by crop insurance providers and policy adopters
3.1.4.Economic impact on crop insurers
3.1.5.Key player strategies to tackle negative impact in the industry
3.1.6.Opportunity analysis for crop insurance policy providers
CHAPTER 4:CROP INSURANCE MARKET, BY COVERAGE
4.1.Overview
4.2.Multiple Peril Crop Insurance (MPCI)
4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast, by region
4.2.3.Market analysis, by country
4.3.Crop-hail Insurance
4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast, by region
4.3.3.Market analysis by country
CHAPTER 5:CROP INSURANCE MARKET, BY DISTRIBUTION CHANNEL
5.1.Overview
5.2.Banks
5.2.1.Key market trends, growth factors and opportunities
5.2.2.Market size and forecast, by region
5.2.3.Market analysis, by country
5.3.Insurance Companies
5.3.1.Key market trends, growth factors and opportunities
5.3.2.Market size and forecast, by region
5.3.3.Market analysis, by country
5.4.Brokers/Agents
5.4.1.Key market trends, growth factors and opportunities
5.4.2.Market size and forecast, by region
5.4.3.Market analysis, by country
5.5.Others
5.5.1.Key market trends, growth factors and opportunities
5.5.2.Market size and forecast, by region
5.5.3.Market analysis, by country
CHAPTER 6:CROP INSURANCE MARKET, BY REGION
6.1.Overview
6.1.1.Market size and forecast, by region
6.2.North America
6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market size and forecast, by coverage
6.2.3.Market size and forecast, by distribution channel
6.2.4.Market analysis, by country
6.2.4.1.U.S.
6.2.4.1.1.Market size and forecast, by coverage
6.2.4.1.2.Market size and forecast, by distribution channel
6.2.4.2.Canada
6.2.4.2.1.Market size and forecast, by coverage
6.2.4.2.2.Market size and forecast, by distribution channel
6.3.Europe
6.3.1.Key market trends, growth factors and opportunities
6.3.2.Market size and forecast, by coverage
6.3.3.Market size and forecast, by distribution channel
6.3.4.Market analysis, by country
6.3.4.1.Spain
6.3.4.1.1.Market size and forecast, by coverage
6.3.4.1.2.Market size and forecast, by distribution channel
6.3.4.2.Germany
6.3.4.2.1.Market size and forecast, by coverage
6.3.4.2.2.Market size and forecast, by distribution channel
6.3.4.3.France
6.3.4.3.1.Market size and forecast, by coverage
6.3.4.3.2.Market size and forecast, by distribution channel
6.3.4.4.Italy
6.3.4.4.1.Market size and forecast, by coverage
6.3.4.4.2.Market size and forecast, by distribution channel
6.3.4.5.Russia
6.3.4.5.1.Market size and forecast, by coverage
6.3.4.5.2.Market size and forecast, by distribution channel
6.3.4.6.Netherlands
6.3.4.6.1.Market size and forecast, by coverage
6.3.4.6.2.Market size and forecast, by distribution channel
6.3.4.7.Rest of Europe
6.3.4.7.1.Market size and forecast, by coverage
6.3.4.7.2.Market size and forecast, by distribution channel
6.4.Asia-Pacific
6.4.1.Key market trends, growth factors and opportunities
6.4.2.Market size and forecast, by coverage
6.4.3.Market size and forecast, by distribution channel
6.4.4.Market analysis, by country
6.4.4.1.China
6.4.4.1.1.Market size and forecast, by coverage
6.4.4.1.2.Market size and forecast, by distribution channel
6.4.4.2.India
6.4.4.2.1.Market size and forecast, by coverage
6.4.4.2.2.Market size and forecast, by distribution channel
6.4.4.3.Japan
6.4.4.3.1.Market size and forecast, by coverage
6.4.4.3.2.Market size and forecast, by distribution channel
6.4.4.4.Australia
6.4.4.4.1.Market size and forecast, by coverage
6.4.4.4.2.Market size and forecast, by distribution channel
6.4.4.5.South Korea
6.4.4.5.1.Market size and forecast, by coverage
6.4.4.5.2.Market size and forecast, by distribution channel
6.4.4.6.Rest of Asia-Pacific
6.4.4.6.1.Market size and forecast, by coverage
6.4.4.6.2.Market size and forecast, by distribution channel
6.5.LAMEA
6.5.1.Key market trends, growth factors and opportunities
6.5.2.Market size and forecast, by coverage
6.5.3.Market size and forecast, by distribution channel
6.5.4.Market analysis, by country
6.5.4.1.Latin America
6.5.4.1.1.Market size and forecast, by coverage
6.5.4.1.2.Market size and forecast, by distribution channel
6.5.4.2.Middle East
6.5.4.2.1.Market size and forecast, by coverage
6.5.4.2.2.Market size and forecast, by distribution channel
6.5.4.3.Africa
6.5.4.3.1.Market size and forecast, by coverage
6.5.4.3.2.Market size and forecast, by distribution channel
CHAPTER 7:COMPETITIVE LANDSCAPE
7.1.Introduction
7.1.1.Market player positioning, 2019
7.1.2.Top winning strategies
CHAPTER 8:COMPANY PROFILES
8.1.Agriculture Insurance Company of India Limited (AIC)
8.1.1.Company overview
8.1.2.Key executive
8.1.3.Company snapshot
8.1.4.Product portfolio
8.1.5.Business performance
8.2.American Financial Group, Inc.
8.2.1.Company overview
8.2.2.Key executive
8.2.3.Company snapshot
8.2.4.Product portfolio
8.3.Chubb
8.3.1.Company overview
8.3.2.Key executive
8.3.3.Company snapshot
8.3.4.Operating business segments
8.3.5.Product portfolio
8.3.6.Business performance
8.4.Fairfax Financial Holdings Limited
8.4.1.Company overview
8.4.2.Key executive
8.4.3.Company snapshot
8.4.4.Operating business segments
8.4.5.Product portfolio
8.4.6.Business performance
8.4.1.Key strategic moves and developments
8.5.ICICI Lombard General Insurance Company Limited
8.5.1.Company overview
8.5.2.Key executive
8.5.3.Company snapshot
8.5.4.Product portfolio
8.5.5.Business performance
8.6.PICC
8.6.1.Company overview
8.6.2.Key executive
8.6.3.Company snapshot
8.6.4.Product portfolio
8.7.QBE Insurance Group Limited
8.7.1.Company overview
8.7.2.Key executive
8.7.3.Company snapshot
8.7.4.Product portfolio
8.7.5.Business performance
8.7.6.Key strategic moves and developments
8.8.Sompo International Holdings Ltd.
8.8.1.Company overview
8.8.2.Key executive
8.8.3.Company snapshot
8.8.4.Product portfolio
8.8.5.Business performance
8.8.1.Key strategic moves and developments
8.9.Tokio Marine HCC
8.9.1.Company overview
8.9.2.Key executive
8.9.3.Company snapshot
8.9.4.Product portfolio
8.10.Zurich
8.10.1.Company overview
8.10.2.Key executive
8.10.3.Company snapshot
8.10.4.Product portfolio
8.10.5.Business performance
8.10.6.Key strategic moves and developments
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