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The Life insurance market in Netherlands has been experiencing significant growth and transformation in recent years. Customer preferences in the Netherlands are shifting towards more comprehensive life insurance coverage that offers not only financial protection but also investment opportunities. Customers are increasingly looking for policies that provide long-term value and flexibility to adapt to their changing needs over time. Trends in the market show a rise in demand for digital insurance solutions, with more customers opting to purchase life insurance online. This shift towards digital channels is driven by the convenience and accessibility they offer, as well as the ability to compare different policies and providers easily. Local special circumstances in the Netherlands, such as a strong regulatory environment and a high level of financial literacy among the population, have contributed to the growth of the life insurance market. The presence of well-established insurance companies with a reputation for stability and reliability also plays a significant role in shaping customer trust and confidence in the market. Underlying macroeconomic factors, such as low interest rates and an aging population, have influenced the development of the life insurance market in the Netherlands. Low interest rates have led to a greater demand for investment-linked insurance products, as customers seek higher returns on their savings. The aging population has also created a greater awareness of the need for retirement planning and long-term financial security, driving the demand for life insurance products that offer retirement income solutions.
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)