Contact
![Contact Meredith Alda](https://cdn.statcdn.com/contactPerson/3646.jpg)
Mon - Fri, 9am - 6pm (EST)
![Contact Yolanda Mega](https://cdn.statcdn.com/contactPerson/3195.jpg)
Mon - Fri, 9am - 5pm (SGT)
![Contact Kisara Mizuno](https://cdn.statcdn.com/contactPerson/2661.jpg)
Mon - Fri, 10:00am - 6:00pm (JST)
![Contact Lodovica Biagi](https://cdn.statcdn.com/contactPerson/863.jpg)
Mon - Fri, 9:30am - 5pm (GMT)
![Contact Carolina Dulin](https://cdn.statcdn.com/contactPerson/3012.jpg)
Mon - Fri, 9am - 6pm (EST)
Iran's insurance market is experiencing significant growth and development.
Customer preferences: Customers in Iran are increasingly seeking insurance products that provide comprehensive coverage and financial security for their families and businesses. There is a growing demand for life insurance, health insurance, and property insurance as individuals and businesses look to mitigate risks and protect their assets.
Trends in the market: One of the key trends in the Iranian insurance market is the increasing adoption of digital technologies. Insurers are leveraging online platforms and mobile apps to reach a wider customer base and streamline the insurance purchasing process. Additionally, there is a growing trend towards customized insurance products tailored to the specific needs of different customer segments.
Local special circumstances: Iran's insurance market is unique due to its regulatory environment and government involvement. The market is dominated by state-owned insurance companies, which play a significant role in providing insurance coverage to the population. Additionally, sanctions and geopolitical factors have influenced the market dynamics, leading to a focus on domestic insurance solutions.
Underlying macroeconomic factors: The development of Iran's insurance market is also influenced by macroeconomic factors such as economic growth, inflation rates, and regulatory reforms. As the economy continues to grow and diversify, there is a corresponding increase in the demand for insurance products to protect against various risks. Additionally, regulatory changes aimed at enhancing transparency and consumer protection are shaping the competitive landscape of the insurance industry in Iran.
Data coverage:
Data encompasses B2B and B2C enterprises. Figures are based on gross written premium, gross written premium per capita, gross claim payments, loss ratio, and distribution channels.Modeling approach / Market size:
Market sizes are determined by a Bottom-Up approach, based on a specific rationale for each market layer. As a basis for evaluating markets, we use industry associations, national statistic offices, and international organizations, such as OECD. Next we use relevant key market indicators and data from country-specific associations such as insurance consumer spending, gross domestic product, insurance - consumer price index (CPI), population growth. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing and HOLT-linear. The main drivers are insurance consumer spending and insurance - consumer price index (CPI).Additional Notes:
The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)