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Over the past few years, the Non-life insurances market in Central & Western Europe has been experiencing significant growth and development. Customer preferences in the region have been shifting towards more comprehensive coverage options that provide protection against a wide range of risks. Customers are increasingly looking for tailored insurance solutions that not only offer financial security but also additional benefits such as quick claims processing and 24/7 customer support. In Central & Western Europe, one of the key trends in the Non-life insurances market is the increasing adoption of digital technologies. Insurers in countries like Germany and France are leveraging artificial intelligence and big data analytics to enhance underwriting processes, improve risk assessment, and personalize insurance products for customers. Local special circumstances, such as regulatory changes and market competition, are also influencing the development of the Non-life insurances market in Central & Western Europe. For example, in countries like Spain and Italy, regulatory reforms aimed at increasing transparency and consumer protection have led to a more competitive landscape, with new players entering the market and offering innovative insurance products. Underlying macroeconomic factors, including economic growth, inflation rates, and interest rates, play a crucial role in shaping the Non-life insurances market in Central & Western Europe. As the region continues to recover from the impact of the global pandemic, insurers are closely monitoring economic indicators to assess market opportunities and risks, and adjust their strategies accordingly.
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)