Today the field of accident and health insurance shows how relevant this adage has become for modern living. To feel safe rather than sorry, people in large numbers are opting for accident and health insurance policies. The world over the accident and health insurance is recording huge growth. Market analyst Ken Research has analysed this growth for Denmark in its recently released report, “Personal Accident and Health Insurance in Denmark, Key Trends and Opportunities to 2020.” The report forecasts tremendous growth in Denmark’s accident and health insurance industry owing to factors such as the increasing awareness of policies, insurance companies giving more risk coverage, and improvement in the country’s overall economic environment.
Denmark stands tall in the north European market with the highest market penetration in the personal accident and health insurance segment. The country has a competitive insurance landscape populated by a number of public and private companies. In the country, the accident and health insurance market is dominated by the public sector insurance companies. The Danish people generally buy accident and health insurance policies from these companies, as their policies are cheap in comparison to those sold by the private sector companies.
According to Ken Research Report “Personal Accident and Health Insurance in Denmark, Key Trends and Opportunities to 2020” , the Danish personal accident and health insurance segment is expected to grow at a healthy CAGR of 5.5%. Rising healthcare expenditure will compel new segments of population, especially the middle class, to opt for the health and accident insurance cover to be able to cope with emergencies. Report also forecast good growth for the private insurance companies because they have introduced a wide range of policies for specialized treatments which are not provided by the public sector companies. Innovation and better delivery of services by the private sector companies are attracting customers towards them.
Today, protective insurances are not just for the rich population but they must be made affordable for everyone. Keeping this in mind, the insurance companies must launch policies which can cater to different strata of society.
In future, the health insurance companies in will push towards preventive healthcare rather than solely bank on traditional curing model where treatment is sought after disease has already occurred.
Bancassurance is an integral part of insurance distribution in Denmark, even for the newer insurance segments such as health and personal accidents policies. This trend is likely to continue as many insurance companies are owned by banks or belong to the same banking groups.
Major Players in the Industry:
TrygForsikring A/S CodanForsikring A/S TopdanmarkForsikring A/S Alm. Brand Forsikring A/S PFA Pension Danica Pension Nordea Liv & Pension PensionDanmarkSampension KP Sygeforsikringen “Danmark”, GS
Topics Covered in The Report
- Global Non life insurance industry,
- Non-Life insurance sector trends Denmark,
- Denmark General insurance regulations,
- Health insurance market research Denmark,
- Health insurance demand Denmark,
- Personal Accident Insurance Industry Denmark,
- Personal Accident Insurance Gross Written Premium Denmark
- Health Insurance Gross Written Premium Denmark
- Personal Accident Insurance Industry Growth Denmark
- Personal Accident Insurance Industry future Denmark
- Personal Accident Insurance Industry Trends Denmark
- Personal Accident Insurance Industry analysis Denmark
- Personal Accident Insurance Industry size Denmark
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