How much is the insurance market worth?
Posted: Mon Jan 06, 2025 9:59 am
What is the context in which connected insurance has established itself?
What is at stake in today’s insurance industry? The industry is full of opportunities, and connected insurance is the best technological and strategic approach to fully exploit them.
According to the forecasts contained in the latest report by the Swiss vietnam whatsapp resource Re Institute , the value of the global insurance sector would have reached a new record by mid-2022, exceeding 7 trillion dollars . This astronomical figure reflects three trends that have radicalized during this year: the growing awareness of risk, the increased demand for protection and the rise in rates.
The report highlights that, although the sector's prospects are supported by a strong recovery (which began immediately after the pandemic crisis), economic growth will slow down in the next two years due to energy prices and inflation.
Climate change and digitalization are also making a decisive contribution to reshaping insurance markets . Decarbonization in particular, which goes hand in hand with the dematerialization of documents , is one of the crucial levers on which all companies actively engaged in the transition to a “green” economy are focusing their attention and investments. Among these companies are many in the insurance sector, which can contribute both by developing good practices to absorb losses due to uncontrollable natural events , and by promoting investments in sustainable infrastructure .
What is at stake in today’s insurance industry? The industry is full of opportunities, and connected insurance is the best technological and strategic approach to fully exploit them.
According to the forecasts contained in the latest report by the Swiss vietnam whatsapp resource Re Institute , the value of the global insurance sector would have reached a new record by mid-2022, exceeding 7 trillion dollars . This astronomical figure reflects three trends that have radicalized during this year: the growing awareness of risk, the increased demand for protection and the rise in rates.
The report highlights that, although the sector's prospects are supported by a strong recovery (which began immediately after the pandemic crisis), economic growth will slow down in the next two years due to energy prices and inflation.
Climate change and digitalization are also making a decisive contribution to reshaping insurance markets . Decarbonization in particular, which goes hand in hand with the dematerialization of documents , is one of the crucial levers on which all companies actively engaged in the transition to a “green” economy are focusing their attention and investments. Among these companies are many in the insurance sector, which can contribute both by developing good practices to absorb losses due to uncontrollable natural events , and by promoting investments in sustainable infrastructure .