Over the past few years, the Health insurance market in Croatia has been experiencing significant growth and development. Customer preferences in the health insurance market in Croatia have been shifting towards more comprehensive coverage options that include a wide range of medical services. Customers are increasingly looking for policies that offer not only basic health coverage but also additional benefits such as access to specialist care, preventive services, and wellness programs. Trends in the market indicate a growing demand for private health insurance in Croatia, driven by factors such as an aging population, rising healthcare costs, and gaps in the public healthcare system. As a result, insurance providers are expanding their product offerings to cater to the diverse needs of customers, including tailored packages for different age groups and income levels. Local special circumstances in Croatia, such as the fragmented nature of the healthcare system and disparities in access to quality care between urban and rural areas, have contributed to the growing popularity of private health insurance. Many residents see private insurance as a way to supplement the limitations of the public healthcare system and ensure timely access to high-quality medical services. Underlying macroeconomic factors, including stable economic growth, increasing disposable incomes, and a growing awareness of the importance of health and wellness, have also played a role in driving the development of the health insurance market in Croatia. As more individuals prioritize their health and seek ways to safeguard their well-being, the demand for comprehensive insurance coverage is expected to continue growing in the coming years.
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.
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