Technavio’s latest offering, Insurance Market In Japan report provides a detailed analysis of the competitive scenario, Drivers, Challenges, Trends, and market growth across various regions. The insurance market share growth in Japan by the life insurance segment will be significant for revenue generation. The major factor driving the adoption of life insurance in Japan is the low rate of interest charged from customers for life insurance.
The insurance market in Japan is estimated to grow by USD 42.62 billion from 2021 to 2026. However, the growth momentum is likely to decelerate at a CAGR of 2.42% as per the latest report by Technavio.
The market is driven by factors such as the growing geriatric population in Japan, fear of natural disasters, and the high focus on short-term insurance. However, the vulnerability toward cybercrime is hindering the market growth. The holistic analysis of the drivers & challenges will help in deducing end goals and refining marketing strategies to gain a competitive edge. The insurance market analysis report of Japan also provides detailed information on other upcoming trends that will have a far-reaching effect on the market growth
The insurance market in Japan is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. Some of the companies covered in this report are Allianz Group, Asahi Mutual Life Insurance Co., Dai-ichi Life Holdings Inc., LIFENET INSURANCE CO., Mitsubishi HC Capital Inc., MS and AD Insurance Group Holdings Inc., Sompo Holdings Inc., The Toa Reinsurance Co. Ltd., Tokio Marine Holdings Inc., and Zurich Insurance Co. Ltd., etc.
Allianz Group – The company offers a wide range of insurance services through its subsidiary Allianz Life Insurance Japan Ltd.
Asahi Mutual Life Insurance Co. – The company offers a wide range of insurance services namely nursing care insurance.
Dai-ichi Life Holdings Inc. – The company offers a wide range of insurance products namely life insurance around the world.
LIFENET INSURANCE CO. – The company offers a wide range of insurance products include death, medical, and disability insurance.
Mitsubishi HC Capital Inc – The company offers a wide range of insurance services through its subsidiary Hitachi Capital Insurance Corporation.
The insurance market in Japan forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
The report includes the competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
By Type, the market is classified into life and non-life
By sales channel, the market is classified into sales personnel, insurance agencies, and others
Microinsurance Market –The microinsurance market share is expected to increase by USD 30.44 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 7.40%. Download a free sample now!
Travel Insurance Market –The travel insurance market has the potential to grow by USD 12.61 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 8.60%. Download a free sample now!
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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