By 2025, the global protection gap is set to increase by five percent and the Asia-Pacific region will account for almost half of all uninsured risk. In 2020, the protection gap in the Asia-Pacific region was 619 billion U.S. dollars and this figure is forecast to rise to 889 billion U.S. dollars by 2025. The protection gap refers to the difference between the amount of insurance required and the amount of insurance actually taken out.
Value of the protection gap in the insurance industry worldwide from 2010 to 2020 with a forecast for 2025
(in billion U.S. dollars)
Characteristic
Asia-Pacific
Europe
Middle East and Africa
Latin America
North America
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*Forecast.
The source defined the protection gap as the difference between the value of premiums needed for full protection against risk and the value of premiums actually purchased.
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PwC. (May 11, 2022). Value of the protection gap in the insurance industry worldwide from 2010 to 2020 with a forecast for 2025 (in billion U.S. dollars) [Graph]. In Statista. Retrieved August 24, 2024, from https://www.statista.com/statistics/1027855/global-insurance-protection-gap-by-region/
PwC. "Value of the protection gap in the insurance industry worldwide from 2010 to 2020 with a forecast for 2025 (in billion U.S. dollars)." Chart. May 11, 2022. Statista. Accessed August 24, 2024. https://www.statista.com/statistics/1027855/global-insurance-protection-gap-by-region/
PwC. (2022). Value of the protection gap in the insurance industry worldwide from 2010 to 2020 with a forecast for 2025 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: August 24, 2024. https://www.statista.com/statistics/1027855/global-insurance-protection-gap-by-region/
PwC. "Value of The Protection Gap in The Insurance Industry Worldwide from 2010 to 2020 with a Forecast for 2025 (in Billion U.S. Dollars)." Statista, Statista Inc., 11 May 2022, https://www.statista.com/statistics/1027855/global-insurance-protection-gap-by-region/
PwC, Value of the protection gap in the insurance industry worldwide from 2010 to 2020 with a forecast for 2025 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1027855/global-insurance-protection-gap-by-region/ (last visited August 24, 2024)
Value of the protection gap in the insurance industry worldwide from 2010 to 2020 with a forecast for 2025 (in billion U.S. dollars) [Graph], PwC, May 11, 2022. [Online]. Available: https://www.statista.com/statistics/1027855/global-insurance-protection-gap-by-region/
