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Global Logistics Insurance Market 2017-2021

Global Logistics Insurance Market 2017-2021

About Logistics Insurance

Insurance is a promise of compensation in case of damage/injury/loss in exchange for a premium. It is a form of risk management. Insurance services include various forms of compensation benefits such as protection of property and vehicles against damage or loss, reimbursement of the cost associated with healthcare, and compensation for accidental death to pre-decided beneficiaries.Logistics insurance offers insurance against the damage or loss to business because of interruption in the logistics chain.Technavio’s analysts forecast the global logistics insurance market to grow at a CAGR of 2.35% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global logistics insurance market for 2017-2021. To calculate the market size, the report considers the revenue generated by different vendors through sales of various insurance products that are segmented based on types. The types of insurance are marine insurance, inland insurance, and aviation insurance.The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Logistics Insurance Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • AGCS
  • AIG
  • Aon
  • AXA
  • Integrity Transportation Insurance Agency
  • Liberty Mutual Insurance
  • Marsh
Other prominent vendors
  • Arthur J. Gallagher
  • Atrium
  • Beazley
  • Chubb
  • Gard
  • Mitsui Sumitomo Insurance
  • Munich Re
  • Peoples Insurance Agency
  • Samsung Fire & Marine Insurance
  • Sompo Japan Nipponkoa Insurance
  • Swiss Re Group
  • Thomas Miller
  • Tokio Marine Holdings
  • XL Group
  • Zurich Insurance Group
Market driver
  • Increase in number of cargo thefts
  • For a full, detailed list, view our report
Market challenge
  • Hard insurance market characteristics
  • For a full, detailed list, view our report
Market trend
  • Increasing popularity of tracking cargos among shippers
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Releases

Technavio Announces the Publication of its Research Report – Global Logistics Insurance Market 2017-2021

Technavio recognizes the following companies as the key players in the global logistics insurance market: AGCS, AIG, Aon, AXA, Integrity Transportation Insurance Agency, Liberty Mutual Insurance, and Marsh

Other Prominent Vendors in the market are: Arthur J. Gallagher, Atrium, Beazley, Chubb, Gard, Mitsui Sumitomo Insurance, Munich Re, Peoples Insurance Agency, Samsung Fire & Marine Insurance, Sompo Japan Nipponkoa Insurance, Swiss Re, Thomas Miller, Tokio Marine Holdings, XL, and Zurich Insurance.

Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increasing popularity of tracking cargos among shippers. Technology is being adopted across various industries in the world. Similarly, a trend to track cargos across logistics chain is seen. Companies are offering various technologies to track the location of trucks or trailers. For example, Novacom Europe is one of the leading companies in trailer telematics. The service is called Trailermatics. The company uses satellite or general packet radio service (GPRS) along with global positioning system (GPS) to continuously monitor trailers or trucks. It also offers an extra range of information as per needs.”

According to the report, one of the major drivers for this market is Increase in number of cargo thefts. It is observed that the number of cargo thefts is increasing. The total loss in the year 2015 because of cargo theft amounted to $20-$25 billion. Brazil saw around 7,000 to 8,000 incidents of cargo theft during 2015, which was the highest in the last 20 years. The probable reasons for this could be Brazil's overall economic crisis that caused a drop in the number of employed people by around 2% to 3% from January 2016 to April 2017. Venezuela is seeing an increase in the number of cargo thefts due to worsening political and economic situations. The below exhibit shows the countries where cargo theft is quite prevalent.

Further, the report states that one of the major factors hindering the growth of this market is Hard insurance market characteristics. The opposite phenomenon is wherein immediately after a catastrophic event, the market prices of insurance reach significantly high. The hard insurance market is highly depended on natural and manmade catastrophic events that take place around the globe. In 2016, around $190 billion losses were recorded worldwide. The years 2013, 2014, and 2015 had seen a declining trend in terms of yearly losses reported due to catastrophic events. It is noted that in 2016, the loss amount borne by insurers worldwide was around $45 to $55 billion, which is greater than the calculated average value for the previous 10 years. Hence, it is a challenge for insurance companies to tackle the cyclical nature of the industry.

Companies Mentioned

AGCS, AIG, Aon, AXA, Integrity Transportation Insurance Agency, Liberty Mutual Insurance, Marsh, Arthur J. Gallagher, Atrium, Beazley, Chubb, Gard, Mitsui Sumitomo Insurance, Munich Re, Peoples Insurance Agency, Samsung Fire & Marine Insurance, Sompo Japan Nipponkoa Insurance, Swiss Re, Thomas Miller, Tokio Marine Holdings, XL, and Zurich Insurance.

  • Executive summary
  • Scope of the report
  • Research Methodology
  • Introduction
    • Market outline
      • Table Events covered under logistics insurance
      • Table Reasons for logistic insurance claims 2015 (%)
  • Market landscape
    • Market overview
      • Table Segmentation of the global logistics insurance market
    • Market size and forecast
      • Table Global logistics insurance market 2016-2021 ($ billions)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by type
    • Global logistics insurance market by type of insurance
      • Table Global logistics insurance market growth rate by type of insurance 2017-2021 (%)
      • Table Global logistics insurance market by type of insurance 2016-2021 ($ billions)
      • Table Global logistics insurance market by type of insurance 2016-2021 (%)
    • Global logistics insurance market by marine insurance
      • Table Global logistics insurance market by marine insurance 2016-2021 ($ billions)
      • Table Reasons for loss or damage that are covered under marine insurance
      • Table Different types of marine insurance and their percentage share in 2016(% premium)
      • Table Different categories of cargo shipped through marine route
      • Table Expected global marine trade by volume 2016-2021 (billion tons)
    • Global logistics insurance market by inland insurance
      • Table Global logistics insurance market by inland insurance 2016-2021 ($ billions)
    • Global logistics insurance market by aviation insurance
      • Table Global logistics insurance market by aviation insurance 2016-2021 ($ billions)
      • Table Air cargo market share by region 2015 (% volume)
      • Table Total freight transport by air 2012-2015 (billion ton-km)
  • Geographical segmentation
    • Geographical segmentation of the global logistics insurance market
      • Table Global logistics insurance market share by geography 2016-2021 (% revenue)
      • Table Global logistics insurance market shares by geography 2016-2021 ($ billions)
      • Table Global logistics insurance market growth rate by geography 2017-2021 (%)
    • Logistics insurance market in EMEA
      • Table Logistics insurance market in EMEA 2016-2021 ($ billions)
    • Logistics insurance market in APAC
      • Table Logistics insurance market in APAC 2016-2021 ($ billions)
    • Logistics insurance market in the Americas
      • Table Logistics insurance market in the Americas 2016-2021 ($ billions)
      • Table Goods transported by railways in North America 2011-2015 (billion ton-km)
  • Key leading countries
    • Table Key leading countries in 2016
  • Decision framework
  • Drivers and challenges
    • Market drivers
      • Table Countries with commonly occurring cargo thefts
      • Table Share of theft according to product categories 2016
      • Table Share of incidents by type of ship in Europe 2011-2014 (%)
      • Table Factors leading to damage of cargo
    • Market challenges
      • Table Soft insurance market characteristics
      • Table Hard insurance market characteristics
      • Table Factors affecting insurers due to increasing ULCVs
  • Market trends
    • Increasing popularity of tracking cargos among shippers
      • Table Information that can be tracked using technology
    • Increased use of chatbots among insurance companies
      • Table Advantages of chatbots for insurance companies
    • Increased adoption of augmented reality in the insurance industry
      • Table Applications of AR in the insurance industry
  • Vendor landscape
    • Competitive scenario
    • AGCS
      • Table Percentage share of various business lines in AGCS 2016 (% gross premiumswritten)
    • AIG
      • Table Business segmentation of AIG 2016 (% revenue)
      • Table Geographical segmentation of AIG 2016 (% revenue)
    • Aon
      • Table Aon business segmentation 2016 (% revenue)
    • AXA
      • Table AXA business segmentation and their shares (% revenue)
    • Integrity Transportation Insurance Agency
      • Table Integrity Transportation Insurance Agency's services 2016
    • Liberty Mutual Insurance
      • Table Liberty Mutual Insurance segmentation based on strategic business units 2016(% net written premium)
      • Table Liberty Mutual Insurance segmentation based on significant lines of business 2016(% net written premium)
    • Marsh
      • Table Geographic segmentation of Marsh 2016 (% revenue of Marsh)
    • Other prominent vendors
  • Appendix
    • List of abbreviations
  • Explore Technavio

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