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)
The Life insurance market in Belarus has been experiencing notable growth and development in recent years. Customer preferences in the Belarusian life insurance market are shifting towards more comprehensive coverage options that provide not only financial protection but also investment opportunities. Customers are increasingly looking for policies that offer a combination of life insurance and savings or investment components, reflecting a growing interest in long-term financial planning and wealth accumulation. Trends in the market show a rise in demand for unit-linked life insurance products, which allow policyholders to invest in a variety of funds while still benefiting from life insurance coverage. This trend is in line with global market developments, where unit-linked products have gained popularity for their flexibility and potential for higher returns compared to traditional life insurance policies. Local special circumstances in Belarus, such as a relatively underdeveloped financial market and limited access to alternative investment options, have contributed to the growing popularity of life insurance as a means of long-term savings and investment. In the absence of well-established investment channels, life insurance products have emerged as a viable option for Belarusian consumers looking to grow their wealth while ensuring financial security for themselves and their families. Underlying macroeconomic factors, including low interest rates and economic uncertainty, have also played a role in driving the growth of the life insurance market in Belarus. With traditional savings accounts offering minimal returns and concerns about the stability of other investment options, life insurance has become an attractive choice for individuals seeking both financial protection and growth opportunities in an uncertain economic environment. Overall, the evolving customer preferences, market trends towards unit-linked products, local special circumstances, and macroeconomic factors are all contributing to the positive development of the Life insurance market in Belarus.
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)