Synopsis This report provides insights into the HNW insurance market.
It first provides an understanding of insurance among HNWIs, and highlights key products in the life and non-life insurance markets, followed by an analysis of how insurance can help HNWIs to manage their wealth.
The report’s main chapter identifies key trends, opportunities and challenges facing HNW insurance market. It aims to provide up-to-date trends in the HNW insurance market to wealth managers, private banks, insurance brokers and insurers.
Summary Demand for insurance among HNWIs commonly covers life insurance to protect dependents. Strategically, however, life insurance can be used as a tool to facilitate tax and estate planning. As the number of HNWIs grows, the desire to protect their assets and luxury investments such as luxury cars, yachts, jets, arts and wine collections also increases.
Parallel to this, instability in equity markets and fluctuating global economic growth make alternative assets such as collectibles more attractive; these items require insurance to cover their value
HNWIs often find themselves overpaying and underprotected. This is unsurprising given that broad product variety often makes insurance a complex product.
Scope The report is divided into five chapters, which cover the following areas:
• Understanding HNWI Insurance
• Life Insurance for HNWIs
• Non-Life Insurance for HNWIs
• Key Trends, Opportunities and Challenges for Life and Non-Life Insurance
• The Outlook for HNWI Insurance Industry
Reasons To Buy • Understand insurance for HNWIs and the role of life and non-life insurance in managing HNWI wealth.
• Be informed about key products in the HNW life and non-life insurance markets.
• Be aware of key trends, opportunities and challenges facing HNW life and non-life insurance markets.
• Be informed about future outlook of HNW insurance market globally.
• Build robust expansion strategy and marketing strategy to target HNW insurance more effectively.
Key Highlights • Data compiled in association with Timetric shows that the global life insurance market in 2015 was estimated at US$2.8 trillion, while the non-life insurance market was estimated at US$1.6 trillion.
• HNWIs globally are underinsured and underserved
• Universal life a key offering for HNWIs
• Insurancetech and competition expected to drive growth in HNW insurance
Our reports have been used by over 10K customers, including:
UK Wealth Management: HNW Investors 2019 Summary Most HNW individuals in the UK earned their wealth through earned income, and are showing strong demand for planning and lending products.However, a multi-service proposition is a must as demand is expected to increase across all planning services...
How Customers Purchase Term Assurance 2019 Summary This report examines the attitudes, behaviors, and preferences of customers who purchased a term assurance policy in the last 12 months.It explores distribution and the purchasing journey, policy purchase triggers, the financial concerns of customers,...
Singapore Wealth Management: HNW Investors 2019 Summary The local HNW segment is older than their global peers, highlighting the need for wealth preservation and efficiently passing on wealth through the generations via trusts or simple inheritance planning.Other opportunities include repatriation...
Greece Life Insurance: Key trends and Opportunities to 2023 Summary ’Greece Life Insurance: Key Trends and Opportunities to 2023’ report provides in-depth market analysis, information and insights into the Greek life insurance segment. ’Greece Life Insurance: Key Trends and Opportunities to...
Switzerland Wealth Management: HNW Investors 2019 Summary Swiss HNW investors - who skew heavily towards professional and high-earning males - show strong demand for most forms of wealth advice and planning.A multi-service proposition underpinned by a proven ability to demonstrate returns will be...
Financial Services: Adapting to the Coronavirus (COVID-19) Outbreak Summary In the short term, the impact of COVID-19 on consumer financial services will be analogous to the global financial crisis of 2008-09, creating a period of economic paralysis and leaving a massive hole in banks’ balance sheets. This...
Hong Kong Wealth Management: HNW Investors 2019 Summary Hong Kong’s HNW investors - who skew heavily towards professional and entrepreneurial males - show strong demand for most forms of wealth advice and tax planning.A multi-service proposition, underpinned by proven expertise in investment, will...
Hong Kong Life Insurance: Key trends and Opportunities to 2023 Summary ’Hong Kong Life Insurance: Key Trends and Opportunities to 2023’ report provides a detailed outlook by product category for the Hong Kong life insurance segment. This report provides in-depth market analysis, information...
Trends to Watch in Wealth Management: 2020 Summary The wealth management market is unsettled in 2020.Expected growth in equities and offshore investment bodes well for growth in fees and client assets. However, even as the outlook perks up the risks have been growing more pronounced. This...
Life Insurance Global Industry Almanac 2014-2023 Summary Global Life Insurance industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value 2014-18, and forecast to 2023). The profile also contains descriptions of the leading players...
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.