Over the past few years, the Property Insurance market in Poland has shown significant growth and development. Customer preferences in the Property Insurance market in Poland are shifting towards more comprehensive coverage options to protect their properties against a wide range of risks. Customers are increasingly looking for customized insurance solutions that not only cover traditional risks like fire and theft but also natural disasters and other unforeseen events. Trends in the market indicate a rise in the adoption of digital technologies for selling and servicing property insurance policies in Poland. Insurers are leveraging online platforms and mobile apps to reach a wider customer base and provide a seamless experience from policy purchase to claims processing. Additionally, there is a growing demand for sustainable and environmentally friendly insurance products in line with global trends towards eco-consciousness. Local special circumstances in Poland, such as regulatory changes and increasing competition among insurance providers, are influencing the dynamics of the Property Insurance market. The implementation of new regulations aimed at consumer protection and transparency is reshaping the market landscape and driving insurers to enhance their offerings and customer service. Underlying macroeconomic factors, including steady economic growth, a stable real estate market, and increasing awareness about the importance of property insurance, are contributing to the positive outlook for the Property Insurance market in Poland. As disposable incomes rise and property ownership rates increase, the demand for 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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