Marktanalyse - Emerging Market and Investment Opportunities in South Korean Motor Insurance to 2016
BRICdata
3 / 2012
49 Seiten
| Typ: | Marktanalyse |
| Sprache: | Englisch |
| Regionen: | Südkorea |
| Verfügbarkeit: | verfügbar |
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Synopsis
The report provides top-level market analysis, information and insights into the South Korean motor insurance industry, including:
• Current, historic and forecast values for the South Korean motor insurance industry
• Comprehensive, country-specific analysis of the industry’s market attractiveness, covering key trends and drivers, plus benchmarking with other key markets
• Detailed analysis of the business and operations strategy used by various motor insurers in the market, including marketing strategy and social media strategy
• Detailed analysis of the challenges affecting the South Korean motor insurance industry
• Company profiles of the major insurers in the South Korean motor insurance market
Summary
The South Korean motor insurance category is growing steadily due to the introduction of mandatory motor liability insurance policies and the country’s rising number of passenger car sales. According to South Korean law, all car users must purchase compulsory automobile liability insurance (CALI) which provides insurance cover against physical injury or death caused to a third party in a road accident. The implementation of the mandatory motor insurance policy has been one of the main growth drivers for South Korean motor insurance during the review period. Furthermore, the South Korean government has passed several support schemes to encourage consumer spending and support the expansion of the country’s automobile industry during the review period. The government’s support schemes include multiple tax benefits for consumers who buy new cars and trade in vehicle models bought prior to 1999. This drove the South Korean motor insurance category growth during the review period.
Scope
This report provides a comprehensive analysis of the motor insurance industry in South Korea:
• It provides historical values for the South Korean motor insurance industry for the report’s 2007—2011 review period and forecast figures for the 2012—2016 forecast period
• It offers a detailed analysis of the key markets in the South Korean motor insurance industry, along with market forecasts until 2016
• It details the different macroeconomic factors affecting the motor insurance industry in South Korea
• It covers an exhaustive summary on the key trends and drivers affecting the motor insurance industry
• It outlines the current regulatory framework in the industry
• It details the business and operations strategy used by various South Korean motor insurance companies
• It profiles the major insurers in the South Korean motor insurance industry
Reasons To Buy
• Make strategic business decisions using top-level historic and forecast market data related to the South Korean motor insurance industry and each market within it
• Understand the key market trends and growth opportunities within the South Korean motor insurance industry
• Assess the competitive dynamics in the South Korean motor insurance industry
• Gain insights into the business and operations strategies used by South Korean motor insurers
• Gain insights into key regulations governing the South Korean motor insurance industry
Key Highlights
• The written premium value of the South Korean motor insurance category grew at a compound annual growth rate (CAGR) of 1.6% during the review period. This growth was supported by the introduction of mandatory motor insurance policies in South Korea and by the country’s rising number of passenger car sales.
• The South Korean motor insurance category is projected to grow at a rapid rate over the forecast period (2012—2016). The rapid development of automobile sales is expected to fuel motor insurance growth over the forecast period.
• The South Korean motor insurance category is highly concentrated, and includes a small number of local companies and several global businesses with large market shares.
• Samsung Fire and Marine is the market leader in the motor insurance category, with this company alone accounted for a share of 31% of the South Korean non-life insurance segment in 2010.
• The South Korean motor insurance category loss ratio is one of the highest among Asian countries.
The report provides top-level market analysis, information and insights into the South Korean motor insurance industry, including:
• Current, historic and forecast values for the South Korean motor insurance industry
• Comprehensive, country-specific analysis of the industry’s market attractiveness, covering key trends and drivers, plus benchmarking with other key markets
• Detailed analysis of the business and operations strategy used by various motor insurers in the market, including marketing strategy and social media strategy
• Detailed analysis of the challenges affecting the South Korean motor insurance industry
• Company profiles of the major insurers in the South Korean motor insurance market
Summary
The South Korean motor insurance category is growing steadily due to the introduction of mandatory motor liability insurance policies and the country’s rising number of passenger car sales. According to South Korean law, all car users must purchase compulsory automobile liability insurance (CALI) which provides insurance cover against physical injury or death caused to a third party in a road accident. The implementation of the mandatory motor insurance policy has been one of the main growth drivers for South Korean motor insurance during the review period. Furthermore, the South Korean government has passed several support schemes to encourage consumer spending and support the expansion of the country’s automobile industry during the review period. The government’s support schemes include multiple tax benefits for consumers who buy new cars and trade in vehicle models bought prior to 1999. This drove the South Korean motor insurance category growth during the review period.
Scope
This report provides a comprehensive analysis of the motor insurance industry in South Korea:
• It provides historical values for the South Korean motor insurance industry for the report’s 2007—2011 review period and forecast figures for the 2012—2016 forecast period
• It offers a detailed analysis of the key markets in the South Korean motor insurance industry, along with market forecasts until 2016
• It details the different macroeconomic factors affecting the motor insurance industry in South Korea
• It covers an exhaustive summary on the key trends and drivers affecting the motor insurance industry
• It outlines the current regulatory framework in the industry
• It details the business and operations strategy used by various South Korean motor insurance companies
• It profiles the major insurers in the South Korean motor insurance industry
Reasons To Buy
• Make strategic business decisions using top-level historic and forecast market data related to the South Korean motor insurance industry and each market within it
• Understand the key market trends and growth opportunities within the South Korean motor insurance industry
• Assess the competitive dynamics in the South Korean motor insurance industry
• Gain insights into the business and operations strategies used by South Korean motor insurers
• Gain insights into key regulations governing the South Korean motor insurance industry
Key Highlights
• The written premium value of the South Korean motor insurance category grew at a compound annual growth rate (CAGR) of 1.6% during the review period. This growth was supported by the introduction of mandatory motor insurance policies in South Korea and by the country’s rising number of passenger car sales.
• The South Korean motor insurance category is projected to grow at a rapid rate over the forecast period (2012—2016). The rapid development of automobile sales is expected to fuel motor insurance growth over the forecast period.
• The South Korean motor insurance category is highly concentrated, and includes a small number of local companies and several global businesses with large market shares.
• Samsung Fire and Marine is the market leader in the motor insurance category, with this company alone accounted for a share of 31% of the South Korean non-life insurance segment in 2010.
• The South Korean motor insurance category loss ratio is one of the highest among Asian countries.
Table of Contents
1 Executive Summary
2 South Korean Motor Insurance Market Environment
2.1 Macroeconomic Drivers
2.1.1 GDP growth
2.1.2 GDP by key sectors
2.1.3 Inflation rate
2.1.4 FDI inflows by sector
2.1.5 Annual disposable income
2.1.6 Market capitalization trend
2.1.7 Urban and rural population
2.2 South Korean Automobile Industry Outlook
2.3 Market Share of Motor Insurance in Non-Life Insurance
3 Market Sizing and Future Growth Potential
3.1 South Korea's Position Among the Emerging Motor Insurance Categories
3.2 South Korea Position Among Top 10 Countries by Insurance Premium Volume
3.3 South Korean Motor Insurance Market Size by Volume
3.4 South Korean Motor Insurance Market Size by Value
3.5 South Korean Motor Insurance Market Size by Sub-Category
3.5.1 South Korean motor hull insurance market size by volume
3.5.2 South Korean motor hull insurance market size by value
3.5.3 South Korean motor third-party liability insurance market size by volume
3.5.4 South Korean motor third-party liability insurance market size by value
4 Market Attractiveness and Challenges
4.1 Profitability Indicators
4.2 Trends and Growth Drivers
4.3 Challenges
5 Market Entry Strategies and Competitive Structure
5.1 Regulatory Framework
5.2 Entry Strategy
5.3 Competitive Landscape and Industry Structure
6 Business and Marketing Strategy
6.1 Marketing Strategy
6.1.1 Product strategy
6.1.2 Pricing strategy
6.1.3 Social media marketing
6.1.4 Virtual marketing
6.2 Distribution Channels
6.2.1 Telemarketing
6.2.2 Bancassurance
6.2.3 Internet
6.2.4 Others
7 Operation Strategy
7.1 Claim Management
7.2 IT Systems
8 Profile of Major Companies
8.1 Samsung Fire and Marine Insurance
8.1.1 Company overview
8.1.2 Key products and services
8.2 Allianz SE
8.2.1 Company overview
8.2.2 Business description
8.2.3 Key products and services
8.3 Meritz Fire & Marine Insurance Co. Ltd
8.3.1 Company overview
8.3.2 Business description
8.3.3 Key products and services
8.4 Dongbu Insurance Co. Ltd
8.4.1 Company overview
8.4.2 Key products and services
8.5 Green Non-Life Insurance Co. Ltd
8.5.1 Company overview
8.5.2 Key product and services
9 Appendix
9.1 About BRICdata
9.1.1 Areas of expertise
9.2 Methodology
9.3 Definitions
9.4 Disclaimer
List of Tables
Table 1: South Korean GDP at Constant Prices (US$ Billion), 2007-2016 (Base Year 1999-2000)
Table 2: South Korean Annual Disposable Income (US$ Billion), 2007-2016
Table 3: South Korean Vehicles Production (Million Units), 2007-2011
Table 4: South Korean Passenger Car Registration (Million Units), 2007-2016
Table 5: South Korean Non-Life Insurance Written Premium Value by Category (US$ Billion), 2007-2016
Table 6: South Korean Motor Insurance - Market Size by Volume (Million), 2007-2016
Table 7: South Korean Motor Insurance - Market Size by Value (US$ Billion), 2007-2016
Table 8: South Korean Motor Hull Insurance - Market Size by Volume (Million), 2007-2016
Table 9: South Korean Motor Hull Insurance - Market Size by Value (US$ Billion), 2007-2016
Table 10: South Korean Motor Third-Party Liability Insurance - Market Size by Volume (Million), 2007-2016
Table 11: South Korean Motor Third-Party Liability Insurance - Market Size by Value (US$ Billion), 2007-2016
Table 12: South Korean Motor Insurance - Key Performance Indicators (US$ Billion), 2007-2011
Table 13: South Korean Motor Insurance - Key Performance Indicators (US$ Billion), 2012-2016
Table 14: Samsung Life and Marine Insurance - Key Products and Services
Table 15: Allianz SE - Key Products and Services
Table 16: Meritz Fire & Marine Insurance Co. Ltd - Key Products and Services
Table 17: Dongbu Insurance Co. Ltd - Key Products and Services
Table 18: Green Non-Life Insurance Co. Ltd - Key Product and Services
Table 19: Insurance Industry Definitions
List of Figures
Figure 1: South Korean GDP at Constant Prices (US$ Billion), 2007-2016 (Base Year 1999-2000)
Figure 2: South Korean GDP by Key Sectors (%), 2011 vs 2016
Figure 3: South Korean Inflation Rate (%), 2007-2016
Figure 4: South Korean FDI Inflows (US$ Billion), 2007-2010
Figure 5: South Korean Annual Disposable Income (US$ Billion), 2007-2016
Figure 6: South Korean Market Capitalization Trend - Korea Exchange (KRX),2007-2010
Figure 7: South Korean Urban and Rural Population (%), 2007-2016
Figure 8: South Korean Vehicles Production (Million Units), 2007-2011
Figure 9: South Korean Passenger Car Registration (Million Units), 2007-2016
Figure 10: South Korean Non-Life Insurance Written Premium Value by Category (US$ Billion), 2007-2016
Figure 11: Emerging Motor Insurance Categories' Penetration and Growth Rate, 2007-2011
Figure 12: Top 10 Countries by Insurance Industry Premium Volume, 2010
Figure 13: South Korean Motor Insurance - Market Size by Volume (Million), 2007-2016
Figure 14: South Korean Motor Insurance - Market Size by Value (US$ Billion), 2007-2016
Figure 15: South Korean Motor Hull Insurance - Market Size by Volume (Million), 2007-2016
Figure 16: South Korean Motor Hull Insurance - Market Size by Value (US$ Billion), 2007-2016
Figure 17: South Korean Motor Third-Party Liability Insurance - Market Size by Volume (Million), 2007-2016
Figure 18: South Korean Motor Third-Party Liability Insurance - Market Size by Value (US$ Billion), 2007-2016
Figure 19: South Korean Motor Insurance - Loss Ratio (%), 2007-2016
Figure 20: South Korean Automobile Production Volume (Million Units), 2007-2011
Figure 21: South Korean Motor Insurance Penetration Level (%), 2007-2016
Figure 22: South Korean Motor Insurance - Loss Ratio (%), 2007-2016
Figure 23: South Korean Motor Insurance - Number of Policies Offered (Absolute),2007-2016
Figure 24: South Korean Motor Insurance - Claim Ratio (US$ Billion), 2007-2016
1 Executive Summary
2 South Korean Motor Insurance Market Environment
2.1 Macroeconomic Drivers
2.1.1 GDP growth
2.1.2 GDP by key sectors
2.1.3 Inflation rate
2.1.4 FDI inflows by sector
2.1.5 Annual disposable income
2.1.6 Market capitalization trend
2.1.7 Urban and rural population
2.2 South Korean Automobile Industry Outlook
2.3 Market Share of Motor Insurance in Non-Life Insurance
3 Market Sizing and Future Growth Potential
3.1 South Korea's Position Among the Emerging Motor Insurance Categories
3.2 South Korea Position Among Top 10 Countries by Insurance Premium Volume
3.3 South Korean Motor Insurance Market Size by Volume
3.4 South Korean Motor Insurance Market Size by Value
3.5 South Korean Motor Insurance Market Size by Sub-Category
3.5.1 South Korean motor hull insurance market size by volume
3.5.2 South Korean motor hull insurance market size by value
3.5.3 South Korean motor third-party liability insurance market size by volume
3.5.4 South Korean motor third-party liability insurance market size by value
4 Market Attractiveness and Challenges
4.1 Profitability Indicators
4.2 Trends and Growth Drivers
4.3 Challenges
5 Market Entry Strategies and Competitive Structure
5.1 Regulatory Framework
5.2 Entry Strategy
5.3 Competitive Landscape and Industry Structure
6 Business and Marketing Strategy
6.1 Marketing Strategy
6.1.1 Product strategy
6.1.2 Pricing strategy
6.1.3 Social media marketing
6.1.4 Virtual marketing
6.2 Distribution Channels
6.2.1 Telemarketing
6.2.2 Bancassurance
6.2.3 Internet
6.2.4 Others
7 Operation Strategy
7.1 Claim Management
7.2 IT Systems
8 Profile of Major Companies
8.1 Samsung Fire and Marine Insurance
8.1.1 Company overview
8.1.2 Key products and services
8.2 Allianz SE
8.2.1 Company overview
8.2.2 Business description
8.2.3 Key products and services
8.3 Meritz Fire & Marine Insurance Co. Ltd
8.3.1 Company overview
8.3.2 Business description
8.3.3 Key products and services
8.4 Dongbu Insurance Co. Ltd
8.4.1 Company overview
8.4.2 Key products and services
8.5 Green Non-Life Insurance Co. Ltd
8.5.1 Company overview
8.5.2 Key product and services
9 Appendix
9.1 About BRICdata
9.1.1 Areas of expertise
9.2 Methodology
9.3 Definitions
9.4 Disclaimer
List of Tables
Table 1: South Korean GDP at Constant Prices (US$ Billion), 2007-2016 (Base Year 1999-2000)
Table 2: South Korean Annual Disposable Income (US$ Billion), 2007-2016
Table 3: South Korean Vehicles Production (Million Units), 2007-2011
Table 4: South Korean Passenger Car Registration (Million Units), 2007-2016
Table 5: South Korean Non-Life Insurance Written Premium Value by Category (US$ Billion), 2007-2016
Table 6: South Korean Motor Insurance - Market Size by Volume (Million), 2007-2016
Table 7: South Korean Motor Insurance - Market Size by Value (US$ Billion), 2007-2016
Table 8: South Korean Motor Hull Insurance - Market Size by Volume (Million), 2007-2016
Table 9: South Korean Motor Hull Insurance - Market Size by Value (US$ Billion), 2007-2016
Table 10: South Korean Motor Third-Party Liability Insurance - Market Size by Volume (Million), 2007-2016
Table 11: South Korean Motor Third-Party Liability Insurance - Market Size by Value (US$ Billion), 2007-2016
Table 12: South Korean Motor Insurance - Key Performance Indicators (US$ Billion), 2007-2011
Table 13: South Korean Motor Insurance - Key Performance Indicators (US$ Billion), 2012-2016
Table 14: Samsung Life and Marine Insurance - Key Products and Services
Table 15: Allianz SE - Key Products and Services
Table 16: Meritz Fire & Marine Insurance Co. Ltd - Key Products and Services
Table 17: Dongbu Insurance Co. Ltd - Key Products and Services
Table 18: Green Non-Life Insurance Co. Ltd - Key Product and Services
Table 19: Insurance Industry Definitions
List of Figures
Figure 1: South Korean GDP at Constant Prices (US$ Billion), 2007-2016 (Base Year 1999-2000)
Figure 2: South Korean GDP by Key Sectors (%), 2011 vs 2016
Figure 3: South Korean Inflation Rate (%), 2007-2016
Figure 4: South Korean FDI Inflows (US$ Billion), 2007-2010
Figure 5: South Korean Annual Disposable Income (US$ Billion), 2007-2016
Figure 6: South Korean Market Capitalization Trend - Korea Exchange (KRX),2007-2010
Figure 7: South Korean Urban and Rural Population (%), 2007-2016
Figure 8: South Korean Vehicles Production (Million Units), 2007-2011
Figure 9: South Korean Passenger Car Registration (Million Units), 2007-2016
Figure 10: South Korean Non-Life Insurance Written Premium Value by Category (US$ Billion), 2007-2016
Figure 11: Emerging Motor Insurance Categories' Penetration and Growth Rate, 2007-2011
Figure 12: Top 10 Countries by Insurance Industry Premium Volume, 2010
Figure 13: South Korean Motor Insurance - Market Size by Volume (Million), 2007-2016
Figure 14: South Korean Motor Insurance - Market Size by Value (US$ Billion), 2007-2016
Figure 15: South Korean Motor Hull Insurance - Market Size by Volume (Million), 2007-2016
Figure 16: South Korean Motor Hull Insurance - Market Size by Value (US$ Billion), 2007-2016
Figure 17: South Korean Motor Third-Party Liability Insurance - Market Size by Volume (Million), 2007-2016
Figure 18: South Korean Motor Third-Party Liability Insurance - Market Size by Value (US$ Billion), 2007-2016
Figure 19: South Korean Motor Insurance - Loss Ratio (%), 2007-2016
Figure 20: South Korean Automobile Production Volume (Million Units), 2007-2011
Figure 21: South Korean Motor Insurance Penetration Level (%), 2007-2016
Figure 22: South Korean Motor Insurance - Loss Ratio (%), 2007-2016
Figure 23: South Korean Motor Insurance - Number of Policies Offered (Absolute),2007-2016
Figure 24: South Korean Motor Insurance - Claim Ratio (US$ Billion), 2007-2016
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