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The property and casualty insurance market size is forecast to increase by USD 816.9 million at a CAGR of 8.8% between 2024 and 2029.
United States property & casualty insurance market is expected to witness substantial CAGR during the forecast period. Double-digit premium growth, lower catastrophe losses, and an improved auto market are some key contributing factors to the growth in U.S. property and casualty insurance market. Insurers are using big data analytics to enhance their performance. Big data is being used in claim management, pricing, underwriting and risk selection, among others. This growth is mainly driven by increasing points of contact including social media, which provides a bulk of data that can be transformed into insights and leveraged by insurers to efficiently execute the settlement Process management in the domestic economy of United States. With thriving economy of the country, the property & casualty insurance market is anticipated to register significant growth in the coming years.
The United States property & casualty insurance market is categorized based
Major players operating in the United States property & casualty insurance market include Berkshire Hathaway Inc., American International Group Inc., Liberty Mutual Holding Company Inc., The Progressive Corporation, The Travelers Companies Inc., United Services Automobile Association, Farmers Group Inc., American Family Mutual Insurance Company S.I., W. R. Berkley Corporation and American Financial Group Inc.
Objective of the Study
- To analyze and estimate the market size of United States property & casualty insurance market from 2017 to 2020.
- To estimate and forecast the market size of United States property & casualty insurance market from 2021 to 2027 and growth rate until 2027.
- to classify and forecast United States property & casualty insurance market based on insurance type, end user, distribution channel, company and regional distribution.
- To identify dominant region or segment in the United States property & casualty insurance market.
- To identify drivers and challenges for United States property & casualty insurance market.
- To examine competitive developments such as expansions, mergers & acquisitions, etc., in United States property & casualty insurance market.
- To conduct pricing analysis for United States property & casualty insurance market.
- To identify and analyze the profile of leading players operating in United States property & casualty insurance market.
- To identify key sustainable strategies adopted by market players in United States property & casualty insurance market.
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MIR performed both primary as well as exhaustive secondary research for this study. Initially, MIR sourced a list of property & casualty insurance providers across United States. Subsequently, MIR conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, MIR could include the service providers who could not be identified due to the limitations of secondary research. MIR analyzed the presence of all major players across the country.
MIR calculated the market size of
Key Target Audience
- Property & casualty insurance service providers, suppliers, distributors and other stakeholders
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to property & casualty insurance
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as property & casualty insurance service providers, suppliers, partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Attribute
Details
Base Year
2021
Historical Years
2017 – 2020
Estimated Year
2022E
Forecast Period
2023F – 2027F
Quantitative Units
Revenue in USD Million, and CAGR for 2017-2021 and 2022E-2027F
Report Coverage
Revenue forecast, company share, competitive landscape, growth factors, and trends
Segments Covered
Insurance Type
End User
Distribution Channel
Region Scope
South-Region, West-Region, Mid-West Region & Northeast-Region
Key Companies Profiled
Berkshire Hathaway Inc., American International Group Inc., Liberty Mutual Holding Company Inc., The Progressive Corporation, The Travelers Companies Inc., United Services Automobile Association, Farmers Group Inc., American Family Mutual Insurance Company S.I., W. R. Berkley Corporation and American Financial Group Inc
Customization Scope
10% free report customization with purchase. Addition or alteration to regional & segment scope.
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Delivery Format
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
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