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Global SME Insurance Market Research Report 2024
Synopsis
All businesses are exposed to various risks which are either man-made or natural. Insurance is a prudent way to limit liabilities in the event of an unpleasant occurrence to assets, property and business.The usual customers of SME insurance are small and medium-sized enterprise, the insurance mainly include property insurance, public liability insurance, business interruption insurance, workers compensation insurance, goods in transit insurance and others.
The global SME Insurance market was valued at US$ 18010 million in 2023 and is anticipated to reach US$ 24100 million by 2030, witnessing a CAGR of 4.2% during the forecast period 2024-2030.
Global SME insurance main manufacturers include Allianz, AXA, PICC, China Life, Zurich, Chubb, Aviva, AIG, Liberty Mutual, CPIC, Nationwide, Mapfrem, Sompo Japan Nipponkoa, Tokio Marine, Hanover Insurance, Hiscox, etc., totally accounting for about 40%. Americas is the largest market, with a share over 32%. As for the types of products, it can be divided into insurance for non-employing, insurance for 1-9 employees and insurance for above 10 employees. Insurance for non-employing is the largest segment, holding a share over 70%. In terms of distribution channel, it can be divided into agency, digital and direct channels, brokers and bancassurance. Agency is the largest segment, with a share over 57%.
This report aims to provide a comprehensive presentation of the global market for SME Insurance, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding SME Insurance.
Report Scope
The SME Insurance market size, estimations, and forecasts are provided in terms of revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global SME Insurance market comprehensively. Regional market sizes, concerning products by Type, by Distrubution Channel, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the SME Insurance companies, new entrants, and industry chain related companies in this market with information on the revenues, sales volume, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Distrubution Channel, and by regions.
Market Segmentation
By Company
Allianz
AXA
PICC
China Life
Zurich
Chubb
Aviva
AIG
Liberty Mutual
CPIC
Nationwide
Mapfre
Sompo Japan Nipponkoa
Tokio Marine
Hanover Insurance
Hiscox
Segment by Type
Insurance for Non-employing
Insurance for 1-9 Employees
Insurance for above 10 Employees
Segment by Distrubution Channel
Agency
Digital and Direct Channels
Brokers
Bancassurance
By Region
North America
United States
Canada
Europe
Germany
France
UK
Italy
Russia
Nordic Countries
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by Type, by Distrubution Channel, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Introduces executive summary of global market size, regional market size, this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter 3: Detailed analysis of SME Insurance companies’ competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by Distrubution Channel, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6, 7, 8, 9, 10: North America, Europe, Asia Pacific, Latin America, Middle East and Africa segment by country. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and capacity of each country in the world.
Chapter 11: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 12: The main points and conclusions of the report.
All businesses are exposed to various risks which are either man-made or natural. Insurance is a prudent way to limit liabilities in the event of an unpleasant occurrence to assets, property and business.The usual customers of SME insurance are small and medium-sized enterprise, the insurance mainly include property insurance, public liability insurance, business interruption insurance, workers compensation insurance, goods in transit insurance and others.
The global SME Insurance market was valued at US$ 18010 million in 2023 and is anticipated to reach US$ 24100 million by 2030, witnessing a CAGR of 4.2% during the forecast period 2024-2030.
Global SME insurance main manufacturers include Allianz, AXA, PICC, China Life, Zurich, Chubb, Aviva, AIG, Liberty Mutual, CPIC, Nationwide, Mapfrem, Sompo Japan Nipponkoa, Tokio Marine, Hanover Insurance, Hiscox, etc., totally accounting for about 40%. Americas is the largest market, with a share over 32%. As for the types of products, it can be divided into insurance for non-employing, insurance for 1-9 employees and insurance for above 10 employees. Insurance for non-employing is the largest segment, holding a share over 70%. In terms of distribution channel, it can be divided into agency, digital and direct channels, brokers and bancassurance. Agency is the largest segment, with a share over 57%.
This report aims to provide a comprehensive presentation of the global market for SME Insurance, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding SME Insurance.
Report Scope
The SME Insurance market size, estimations, and forecasts are provided in terms of revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global SME Insurance market comprehensively. Regional market sizes, concerning products by Type, by Distrubution Channel, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the SME Insurance companies, new entrants, and industry chain related companies in this market with information on the revenues, sales volume, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Distrubution Channel, and by regions.
Market Segmentation
By Company
Allianz
AXA
PICC
China Life
Zurich
Chubb
Aviva
AIG
Liberty Mutual
CPIC
Nationwide
Mapfre
Sompo Japan Nipponkoa
Tokio Marine
Hanover Insurance
Hiscox
Segment by Type
Insurance for Non-employing
Insurance for 1-9 Employees
Insurance for above 10 Employees
Segment by Distrubution Channel
Agency
Digital and Direct Channels
Brokers
Bancassurance
By Region
North America
United States
Canada
Europe
Germany
France
UK
Italy
Russia
Nordic Countries
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by Type, by Distrubution Channel, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Introduces executive summary of global market size, regional market size, this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter 3: Detailed analysis of SME Insurance companies’ competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by Distrubution Channel, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6, 7, 8, 9, 10: North America, Europe, Asia Pacific, Latin America, Middle East and Africa segment by country. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and capacity of each country in the world.
Chapter 11: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 12: The main points and conclusions of the report.
Index1 Report Overview
1.1 Study Scope
1.2 Market Analysis by Type
1.2.1 Global SME Insurance Market Size Growth Rate by Type: 2019 VS 2023 VS 2030
1.2.2 Insurance for Non-employing
1.2.3 Insurance for 1-9 Employees
1.2.4 Insurance for above 10 Employees
1.3 Market by Distrubution Channel
1.3.1 Global SME Insurance Market Growth by Distrubution Channel: 2019 VS 2023 VS 2030
1.3.2 Agency
1.3.3 Digital and Direct Channels
1.3.4 Brokers
1.3.5 Bancassurance
1.4 Study Objectives
1.5 Years Considered
1.6 Years Considered
2 Global Growth Trends
2.1 Global SME Insurance Market Perspective (2019-2030)
2.2 SME Insurance Growth Trends by Region
2.2.1 Global SME Insurance Market Size by Region: 2019 VS 2023 VS 2030
2.2.2 SME Insurance Historic Market Size by Region (2019-2024)
2.2.3 SME Insurance Forecasted Market Size by Region (2025-2030)
2.3 SME Insurance Market Dynamics
2.3.1 SME Insurance Industry Trends
2.3.2 SME Insurance Market Drivers
2.3.3 SME Insurance Market Challenges
2.3.4 SME Insurance Market Restraints
3 Competition Landscape by Key Players
3.1 Global Top SME Insurance Players by Revenue
3.1.1 Global Top SME Insurance Players by Revenue (2019-2024)
3.1.2 Global SME Insurance Revenue Market Share by Players (2019-2024)
3.2 Global SME Insurance Market Share by Company Type (Tier 1, Tier 2, and Tier 3)
3.3 Players Covered: Ranking by SME Insurance Revenue
3.4 Global SME Insurance Market Concentration Ratio
3.4.1 Global SME Insurance Market Concentration Ratio (CR5 and HHI)
3.4.2 Global Top 10 and Top 5 Companies by SME Insurance Revenue in 2023
3.5 SME Insurance Key Players Head office and Area Served
3.6 Key Players SME Insurance Product Solution and Service
3.7 Date of Enter into SME Insurance Market
3.8 Mergers & Acquisitions, Expansion Plans
4 SME Insurance Breakdown Data by Type
4.1 Global SME Insurance Historic Market Size by Type (2019-2024)
4.2 Global SME Insurance Forecasted Market Size by Type (2025-2030)
5 SME Insurance Breakdown Data by Distrubution Channel
5.1 Global SME Insurance Historic Market Size by Distrubution Channel (2019-2024)
5.2 Global SME Insurance Forecasted Market Size by Distrubution Channel (2025-2030)
6 North America
6.1 North America SME Insurance Market Size (2019-2030)
6.2 North America SME Insurance Market Growth Rate by Country: 2019 VS 2023 VS 2030
6.3 North America SME Insurance Market Size by Country (2019-2024)
6.4 North America SME Insurance Market Size by Country (2025-2030)
6.5 United States
6.6 Canada
7 Europe
7.1 Europe SME Insurance Market Size (2019-2030)
7.2 Europe SME Insurance Market Growth Rate by Country: 2019 VS 2023 VS 2030
7.3 Europe SME Insurance Market Size by Country (2019-2024)
7.4 Europe SME Insurance Market Size by Country (2025-2030)
7.5 Germany
7.6 France
7.7 U.K.
7.8 Italy
7.9 Russia
7.10 Nordic Countries
8 Asia-Pacific
8.1 Asia-Pacific SME Insurance Market Size (2019-2030)
8.2 Asia-Pacific SME Insurance Market Growth Rate by Region: 2019 VS 2023 VS 2030
8.3 Asia-Pacific SME Insurance Market Size by Region (2019-2024)
8.4 Asia-Pacific SME Insurance Market Size by Region (2025-2030)
8.5 China
8.6 Japan
8.7 South Korea
8.8 Southeast Asia
8.9 India
8.10 Australia
9 Latin America
9.1 Latin America SME Insurance Market Size (2019-2030)
9.2 Latin America SME Insurance Market Growth Rate by Country: 2019 VS 2023 VS 2030
9.3 Latin America SME Insurance Market Size by Country (2019-2024)
9.4 Latin America SME Insurance Market Size by Country (2025-2030)
9.5 Mexico
9.6 Brazil
10 Middle East & Africa
10.1 Middle East & Africa SME Insurance Market Size (2019-2030)
10.2 Middle East & Africa SME Insurance Market Growth Rate by Country: 2019 VS 2023 VS 2030
10.3 Middle East & Africa SME Insurance Market Size by Country (2019-2024)
10.4 Middle East & Africa SME Insurance Market Size by Country (2025-2030)
10.5 Turkey
10.6 Saudi Arabia
10.7 UAE
11 Key Players Profiles
11.1 Allianz
11.1.1 Allianz Company Detail
11.1.2 Allianz Business Overview
11.1.3 Allianz SME Insurance Introduction
11.1.4 Allianz Revenue in SME Insurance Business (2019-2024)
11.1.5 Allianz Recent Development
11.2 AXA
11.2.1 AXA Company Detail
11.2.2 AXA Business Overview
11.2.3 AXA SME Insurance Introduction
11.2.4 AXA Revenue in SME Insurance Business (2019-2024)
11.2.5 AXA Recent Development
11.3 PICC
11.3.1 PICC Company Detail
11.3.2 PICC Business Overview
11.3.3 PICC SME Insurance Introduction
11.3.4 PICC Revenue in SME Insurance Business (2019-2024)
11.3.5 PICC Recent Development
11.4 China Life
11.4.1 China Life Company Detail
11.4.2 China Life Business Overview
11.4.3 China Life SME Insurance Introduction
11.4.4 China Life Revenue in SME Insurance Business (2019-2024)
11.4.5 China Life Recent Development
11.5 Zurich
11.5.1 Zurich Company Detail
11.5.2 Zurich Business Overview
11.5.3 Zurich SME Insurance Introduction
11.5.4 Zurich Revenue in SME Insurance Business (2019-2024)
11.5.5 Zurich Recent Development
11.6 Chubb
11.6.1 Chubb Company Detail
11.6.2 Chubb Business Overview
11.6.3 Chubb SME Insurance Introduction
11.6.4 Chubb Revenue in SME Insurance Business (2019-2024)
11.6.5 Chubb Recent Development
11.7 Aviva
11.7.1 Aviva Company Detail
11.7.2 Aviva Business Overview
11.7.3 Aviva SME Insurance Introduction
11.7.4 Aviva Revenue in SME Insurance Business (2019-2024)
11.7.5 Aviva Recent Development
11.8 AIG
11.8.1 AIG Company Detail
11.8.2 AIG Business Overview
11.8.3 AIG SME Insurance Introduction
11.8.4 AIG Revenue in SME Insurance Business (2019-2024)
11.8.5 AIG Recent Development
11.9 Liberty Mutual
11.9.1 Liberty Mutual Company Detail
11.9.2 Liberty Mutual Business Overview
11.9.3 Liberty Mutual SME Insurance Introduction
11.9.4 Liberty Mutual Revenue in SME Insurance Business (2019-2024)
11.9.5 Liberty Mutual Recent Development
11.10 CPIC
11.10.1 CPIC Company Detail
11.10.2 CPIC Business Overview
11.10.3 CPIC SME Insurance Introduction
11.10.4 CPIC Revenue in SME Insurance Business (2019-2024)
11.10.5 CPIC Recent Development
11.11 Nationwide
11.11.1 Nationwide Company Detail
11.11.2 Nationwide Business Overview
11.11.3 Nationwide SME Insurance Introduction
11.11.4 Nationwide Revenue in SME Insurance Business (2019-2024)
11.11.5 Nationwide Recent Development
11.12 Mapfre
11.12.1 Mapfre Company Detail
11.12.2 Mapfre Business Overview
11.12.3 Mapfre SME Insurance Introduction
11.12.4 Mapfre Revenue in SME Insurance Business (2019-2024)
11.12.5 Mapfre Recent Development
11.13 Sompo Japan Nipponkoa
11.13.1 Sompo Japan Nipponkoa Company Detail
11.13.2 Sompo Japan Nipponkoa Business Overview
11.13.3 Sompo Japan Nipponkoa SME Insurance Introduction
11.13.4 Sompo Japan Nipponkoa Revenue in SME Insurance Business (2019-2024)
11.13.5 Sompo Japan Nipponkoa Recent Development
11.14 Tokio Marine
11.14.1 Tokio Marine Company Detail
11.14.2 Tokio Marine Business Overview
11.14.3 Tokio Marine SME Insurance Introduction
11.14.4 Tokio Marine Revenue in SME Insurance Business (2019-2024)
11.14.5 Tokio Marine Recent Development
11.15 Hanover Insurance
11.15.1 Hanover Insurance Company Detail
11.15.2 Hanover Insurance Business Overview
11.15.3 Hanover Insurance SME Insurance Introduction
11.15.4 Hanover Insurance Revenue in SME Insurance Business (2019-2024)
11.15.5 Hanover Insurance Recent Development
11.16 Hiscox
11.16.1 Hiscox Company Detail
11.16.2 Hiscox Business Overview
11.16.3 Hiscox SME Insurance Introduction
11.16.4 Hiscox Revenue in SME Insurance Business (2019-2024)
11.16.5 Hiscox Recent Development
12 Analyst's Viewpoints/Conclusions
13 Appendix
13.1 Research Methodology
13.1.1 Methodology/Research Approach
13.1.2 Data Source
13.2 Disclaimer
13.3 Author Details
Published By : QY Research
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