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Oct 13, 2020 2:36 AM ET

Crop Insurance Market to Witness Massive Growth | Agriculture Insurance Company of India Limited (AIC), American Financial Group, Inc.


iCrowd Newswire - Oct 13, 2020

Crop Insurance Market by Coverage (Multi-peril Crop Insurance [MPCI] and Crop-hail Insurance) and Distribution Channel (Banks, Insurance Companies, Brokers/Agents, and Other): Global Opportunity Analysis and Industry Forecast, 2020-2027, Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider Crop Insurance market, and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Crop Insurance market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get complete Report (Including Full TOC, 100+ Tables & Figures, and Chart). – In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis & Situation by Region

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Key Segments Studied in the Global Crop Insurance Market

Crop insurance is a yield-based policy, which provides protection against loss of crops due to natural disasters such as floods, hurricanes, hail, drought, fires, and earthquakes. In addition, it provides coverage for loss of revenue due to decline in prices of agricultural commodities. Primarily, crop insurance involves two general categories, crop-revenue insurance & crop-yield insurance, which are purchased by farmers, ranchers, beekeeper, and other agricultural producers. Moreover, to avail crop insurance coverage, policyholders formulate a contract with several crop insurance providers in the market.

Crop Insurance Market

Rise in support from several governments for protecting farmers against fluctuations in revenues, prices, and yields helps in availing crop insurance coverage with more alternatives & customized options. In addition, the introduction of technologies such as artificial intelligence, mobile applications, satellite, drones, and the Internet of Things (IoT) drives market growth. This is attributed to the fact that these technologies provide several digitalized features such as storage of data related to crops & micro-level information, detection of diseased crops, and predictive analysis for historical weather data. However, low awareness regarding crop insurance, high cost of premiums, and long claim settlement processes are some of the factors limiting the market growth.

On the contrary, value-added offered by crop insurance providers to their customers and expansion of product & service offerings by entering into partnerships significantly contribute toward the growth of the market. In addition, developing economies offer significant opportunities for insurers to expand their business by strengthening policies and to support the development of the crop insurance market in Asia-Pacific. Furthermore, the implementation of technologies can help insurers to collect premiums & payout claims and to register information & location of farmers. Therefore, these factors are expected to provide lucrative opportunities for crop insurance providers during the forecast period.

The crop insurance market is segmented into coverage type, distribution channel, and region. In terms of coverage type, it is classified into multi-peril crop insurance (MPCI) and crop-hail insurance. Depending on the distribution channel, it is fragmented into banks, insurance companies, brokers/agents, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The report analyzes the profiles of key players operating in the market, which include Agriculture Insurance Company of India Limited (AIC), American Financial Group, Inc., Chubb, Fairfax Financial Holdings Limited, ICICI Lombard General Insurance Company Limited, PICC, QBE Insurance Group Limited, Sompo International Holdings Ltd, Tokio Marine HCC, and Zurich. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

Key benefits for stakeholders

– The study provides an in-depth analysis of the global crop insurance market along with the current trends and future estimations to elucidate the imminent investment pockets.

– Information about key drivers, restraints, and opportunities and their impact analysis on the market size is provided in the report.

– Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.

– The quantitative analysis of the global crop insurance market from 2020 to 2027 is provided to determine the market potential.

Professional Key players: 

Agriculture Insurance Company of India Limited (AIC),     American Financial Group,     Inc.,     Chubb,     Fairfax Financial Holdings Limited,     ICICI Lombard General Insurance Company Limited,     PICC,     QBE Insurance Group Limited,     Sompo International Holdings Ltd.,     Tokio Marine HCC,     and Zurich. These players have adopted various strategies to increase their market penetration and strengthen their foothold in the industry.

Market Segmentation:
Crop Insurance Market

By Coverage (Multi-peril Crop Insurance [MPCI] and Crop-hail Insurance)

By  Distribution Channel (Banks, Insurance Companies, Brokers/Agents, and Other): Global Opportunity Analysis and Industry Forecast, 2020-2027

 A combination of factors, including COVID-19 containment situation, end-use market recovery & Recovery Timeline of 2020/ 2021

covid-19 scenario Market Behavior/ Level of Risk and Opportunity End Industry Behavior/ Opportunity Assessment Expected Industry Recovery Timeline Business Impact Horizon
Opening of Economy by Q3 2020 xx xx xx xx
Recovery – Opening of Economy extended till Q4 2020 / Q1 2021 xx xx xx xx

Under COVID-19 Outbreak Impact Analysis:
We analyzed industry trends in the context of COVID-19. We analyzed the impact of COVID-19 on the product industry chain based on the upstream and downstream markets. We analyze the impact of COVID-19 on various regions and major countries.
The impact of COVID-19 on the future development of the industry is pointed out.

Study Explore :

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Geographical Breakdown: The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery path of Covid 19 for all regions, key developed countries and major emerging markets.

Countries: Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam

In-Depth Qualitative COVID 19 Outbreak Impact Analysis Include Identification And Investigation Of The Following Aspects: Market Structure, Growth Drivers, Restraints and Challenges, Emerging Product Trends & Market Opportunities, Porter’s Fiver Forces. The report also inspects the financial standing of the leading companies, which includes gross profit, revenue generation, sales volume, sales revenue, manufacturing cost, individual growth rate, and other financial ratios. The report basically gives information about the Market trends, growth factors, limitations, opportunities, challenges, future forecasts, and details about all the key market players.

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Key questions answered: Study Explore COVID 19 Outbreak Impact Analysis

The study objectives of this report are:

The Study Explore COVID 19 Outbreak Impact Analysis

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Key Points Covered in Crop Insurance Market Report:

Chapter 1, About Executive Summary to describe Definition, Specifications and Classification of Crop Insurance market, Applications, Market Segment by Regions North America, Europe or Asia;
Chapter 2, objective of the study.
Chapter 3, to display Research methodology and techniques.
Chapter 4 and 5, to show the Overall Market Analysis, segmentation analysis, characteristics;
Chapter 6 and 7, to show the Market size, share and forecast; Five forces analysis (bargaining Power of buyers/suppliers), Threats to new entrants and market condition;
Chapter 8 and 9, to show analysis by regional segmentation, comparison, leading countries and opportunities; Regional Marketing Type Analysis, Supply Chain Analysis
Chapter 10, focus on identifying the key industry influencer’s, overview of decision framework accumulated through Industry experts and strategic decision makers;
Chapter 11 and 12, Market Trend Analysis, Drivers, Challenges by consumer behavior, Marketing Channels and demand & supply.
Chapter 13 and 14, describe about the vendor landscape (classification and Market Positioning)
Chapter 15, deals with Crop Insurance  Market sales channel, distributors, traders, dealers, Research Findings and Conclusion, appendix and data source.

……..and view more in complete table of Contents

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