No End in Sight to the Growth of Specialized Insurance Lines

As new types of businesses emerged in the global technology boom, and ever-greater lawsuits emerged in the litigation boom, the number of specialty insurance products has grown exponentially. These highly specialized products are aimed at niche markets. Specialty products have long been offered to unique industries and types of properties, such as aviation and health services, and even more esoteric insurance has evolved, such as coverage for golf courses and amusement parks. Today, new products have been developed for the relatively new sectors and/or risks of online services, data center management and electronic data loss. Environmental risks coverage is another relatively new, fast-growing field.

Insurers are creating specialty products to meet the needs of students, the self-employed and specific types of professionals. Specialty health products are a terrific growth area—witness the supplemental health coverage policies, such as cancer insurance, sold by Aflac. Growth in specialty products outside the U.S. looks particularly appealing. For example, Aflac has seen phenomenal success in Japan. Specialty products can be tailored to meet the needs of any group in diverse nations—even religious groups. The Muslim population is one of the fastest-growing demographic segments worldwide. Muslims who strictly adhere to their faith may prefer to purchase insurance that meets requirements of the “Takaful” concept which follows cooperative tenets in keeping with the Muslim faith. Such insurance may be operated in a mutual fashion for the joint benefit of all members. Several insurance firms worldwide are attempting to create products for this market. (Insurance firms that endeavor to meet the needs of other religious groups have existed for years, including firms that focus on Lutherans or Catholics.)

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.

Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.

Become a Plunkett Research Online subscriber to gain unlimited access to our massive amount of vital industry data and market research.

✔ 100,000 Industry Statistics
✔ 500 Industries Analyzed for Market Size, Profits and Forecasts
✔ 150,000 Industry Executives Profiled
✔ 25,000 Companies Profiled, Ranked and Analyzed
✔ 1,000 Vital Trends Analyzed, totaling 1,000,000 words

Learn More

No End in Sight to the Growth of Specialized Insurance Lines, Business and Industry Trends Analysis

A Representative List of Organizations that Have Used our Research and Products:

How to access Plunkett Research data.

What data challenge can we help you solve today?

Take a Tour

Contact

Testimonials