The Health insurance market in Switzerland is characterized by a unique blend of customer preferences, market trends, and local special circumstances.
Customer preferences: Swiss consumers highly value choice and flexibility when it comes to health insurance. They prefer plans that offer a wide range of coverage options, including access to private hospitals and specialist care. Additionally, there is a growing demand for complementary therapies and wellness benefits in health insurance packages.
Trends in the market: One prominent trend in the Swiss health insurance market is the increasing popularity of digital health solutions. Insurers are investing in telemedicine services, health tracking apps, and online platforms to enhance customer experience and improve healthcare outcomes. Another significant trend is the rise of value-based care models, where insurers and healthcare providers collaborate to deliver more cost-effective and efficient services.
Local special circumstances: Switzerland operates a unique healthcare system based on mandatory health insurance for all residents. This system promotes competition among insurers and allows for a high degree of consumer choice. Moreover, the country's strong tradition of healthcare excellence and innovation drives the demand for high-quality insurance products.
Underlying macroeconomic factors: The stability of the Swiss economy, coupled with a high standard of living, contributes to the growth of the health insurance market. As disposable incomes rise, consumers are willing to invest in comprehensive health coverage to safeguard their well-being. Additionally, the aging population and increasing prevalence of chronic diseases are driving the need for innovative insurance solutions tailored to these demographic shifts.
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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Mon - Fri, 9am - 5pm (SGT)
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Mon - Fri, 9am - 6pm (EST)
