Personal Accident and Health Insurance in Austria, Key Trends and Opportunities to 2018

Published: Oct, 2014 | Pages: 230 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)


Synopsis
The report provides in depth market analysis, information and insights into Austrian personal accident and health insurance segment, including:
Austrian personal accident and health insurance segment's growth prospects by insurance categories 
Key trends and drivers for the personal accident and health insurance segment 
The various distribution channels in Austrian personal accident and health insurance segment
The detailed competitive landscape in the personal accident and health insurance segment in Austria
Detailed regulatory policies of Austrian insurance industry
A description of the personal accident and health reinsurance segment in Austria
Porter's Five Forces analysis of the personal accident and health insurance segment 

Summary
The personal accident and health segment generated the least gross written premium in the Austrian insurance industry in 2013. Health insurance was the segment's largest category during the review period (2009?2013). The country's robust social security system provides healthcare cover for 99% of the population, offering little scope for private health insurance. Tax exemptions, coverage of diseases not covered by the social security system, and alternative treatment options including dental care and psychotherapy encourage Austrians to purchase private health insurance. 
Despite being the smallest segment, personal accident and health insurance registered the fastest growth, with a review-period CAGR of 3.7%, mainly due to rising government healthcare expenditure. The segment also benefited from an increasing number of outbound passengers due to the country's improved commercial relationships with leading world economies. This enabled the travel insurance category to record stable growth during the review period. The personal accident and health segment is expected to continue its rapid growth over the forecast period (2013?2018), despite the country's strong statutory healthcare scheme and difficult business conditions. The segment's written premium value is expected to increase at a forecast-period CAGR of 4.0%. 
Scope
This report provides a comprehensive analysis of the personal accident and health insurance segment in Austria:
It provides historical values for Austrian personal accident and health insurance segment for the report's 2009-2013 review period and forecast figures for the 2013-2018 forecast period.
It offers a detailed analysis of the key sub-segments in Austrian personal accident and health insurance segment, along with market forecasts until 2018.
It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions.
It analyses the various distribution channels for personal accident and health insurance products in Austria.
Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Austria for the personal accident and health insurance segment.
It provides a detailed analysis of the reinsurance segment in Austria and its growth prospects.
It profiles the top personal accident and health insurance companies in Austria and outlines the key regulations affecting them. 
Reason To Buy
 Make strategic business decisions using in depth historic and forecast market data related to Austrian personal accident and health insurance segment and each category within it
Understand the demand-side dynamics, key market trends and growth opportunities within Austrian personal accident and health insurance segment
Assess the competitive dynamics in the personal accident and health insurance segment, along with the reinsurance segment
Identify the growth opportunities and market dynamics within key product categories
Gain insights into key regulations governing Austrian insurance segment and its impact on companies and the market's future 
Key Highlights
 As per the Timetric, the Austrian personal accident and health segment ranked 22nd in the world in 2012.
The personal accident and health segment accounted for the lowest market share, with 16.8% of the Austrian insurance industry.
The health insurance category accounted for 65.1% of the segment's gross written premium in 2013.
The social security system discourages investments in private healthcare insurance products, however, the government encourages citizens to purchase private health insurance through tax exemptions.
The personal accident insurance category grew in written premium value at a review-period CAGR of 4.1%, and is expected to increase at a forecast-period CAGR of 4.5% over the forecast period.

 1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology
3 Austrian Insurance Industry Attractiveness
3.1 Insurance Industry Size, 2009-2018
3.2 Key Industry Trends and Drivers
3.3 Challenges
3.4 Recent Market Developments
4 Persol Accident and Health Insurance Segment Outlook
4.1 Consumer Segmentation
4.2 Product and Marketing Strategies
4.2.1 Product strategies
4.2.2 Marketing strategies
4.3 Persol Accident and Health Insurance Growth Prospects by Category
4.3.1 Persol accident insurance
4.3.2 Travel insurance
4.3.3 Health insurance
5 Alysis by Distribution Channel
5.1 Direct Marketing
5.2 Bancassurance
5.3 Agencies
5.4 E-Commerce
5.5 Brokers
5.6 Other Channels
6 Porter's Five Forces Alysis - Austrian Persol Accident and Health Insurance
6.1 Bargaining Power of Suppliers: Low to Medium
6.2 Bargaining Power of Buyers: Medium
6.3 Barriers to Entry: Medium
6.4 Intensity of Rivalry: Low to Medium
6.5 Threat of Substitutes: Medium
7 Reinsurance Growth Dymics and Challenges
7.1 Reinsurance Segment Size, 2009-2018
7.2 Reinsurance Segment Size by Premium Ceded, 2009-2018
8 Governce, Risk and Compliance
8.1 Legislation Overview and Historical Evolution
8.2 Legislation Trends by Type of Insurance
8.2.1 Life insurance regulatory trends
8.2.2 Property insurance regulatory trends
8.2.3 Motor insurance regulatory trends
8.2.4 Marine, aviation and transit insurance regulatory trends
8.2.5 Persol accident insurance regulatory trends
8.2.6 Health insurance regulatory trends
8.3 Compulsory Insurance
8.3.1 Motor vehicle third-party liability insurance
8.3.2 Social security system
8.4 Supervision and Control
8.4.1 Intertiol Association of Insurance Supervisors (IAIS)
8.4.2 European Insurance and Occupatiol Pensions Authority (EIOPA)
8.4.3 Fincial Market Authority (FMA)
8.5 Non-Admitted Insurance Regulatory Trends
8.5.1 Overview
8.5.2 Intermediaries
8.5.3 Market practices
8.5.4 Fines and pelties
8.6 Company Registration and Operations
8.6.1 Types of insurance organization
8.6.2 Establishing a local company
8.6.3 Foreign ownership
8.6.4 Types of license
8.6.5 Capital requirements
8.6.6 Solvency margins
8.6.7 Reserve requirements
8.6.8 Investment regulations
8.6.9 Statutory return requirements
8.6.10 Fee structure
8.7 Taxation
8.7.1 Insurance premium or policy taxation
8.7.2 Corporate tax
8.7.3 VAT
8.7.4 Captives
8.8 Legal System
8.8.1 Introduction
8.8.2 Access to court
8.8.3 Altertive dispute resolution (ADR)
9 Competitive Landscape and Strategic Insights
9.1 Overview
9.2 Leading Companies in the Austrian Persol Accident and Health Insurance Segment
9.3 Comparison of the Top Four Persol Accident and Health Insurers
9.3.1 Gross written premiums
9.3.2 Net earned premiums
9.3.3 Gross claims
9.3.4 Paid claims
9.3.5 Assets
9.4 Uniqa osterreich Versicherungen AG - Company Overview
9.4.1 Uniqa osterreich Versicherungen AG - key facts
9.4.2 Uniqa osterreich Versicherungen AG - Key Fincials
9.5 Wiener Stadtische Versicherung AG Vien Insurance Group - Company Overview
9.5.1 Wiener Stadtische Versicherung AG - key facts
9.5.2 Wiener Stadtische Versicherung AG - Key Fincials
9.6 Generali Versicherung AG - Company Overview
9.6.1 Generali Versicherung AG - key facts
9.6.2 Generali Versicherung AG - Key Fincials
9.7 Merkur Versicherung AG - Company Overview
9.7.1 Merkur Versicherung AG - key facts
9.7.2 Merkur Versicherung AG - Key Fincials
10 Business Environment and Country Risk
10.1 Business Confidence
10.1.1 Market capitalization trend - Vien Stock Exchange, Austria
10.2 Economic Performance
10.2.1 GDP at constant prices (US$)
10.2.2 GDP per capita at constant prices (US$)
10.2.3 GDP at current prices (US$)
10.2.4 GDP per capita at current prices (US$)
10.2.5 GDP by key sector
10.2.6 Agriculture, hunting, forestry and fishing net output at current prices (US$)
10.2.7 Agriculture, hunting, forestry and fishing net output at current prices as a percentage of GDP
10.2.8 Manufacturing net output at current prices (US$)
10.2.9 Manufacturing net output at current prices as a percentage of GDP
10.2.10 Mining, manufacturing and utilities at current prices (US$)
10.2.11 Mining, manufacturing and utilities at current prices, as percentage of GDP
10.2.12 Construction net output at current prices, (US$)
10.2.13 Construction net output at current prices as a percentage of GDP
10.2.14 Inflation rate
10.2.15 Exports as a percentage of GDP
10.2.16 Imports as a percentage of GDP
10.2.17 Merchandise exports growth
10.2.18 Merchandise imports growth
10.2.19 Annual average exchange rate EUR-US$
10.3 Infrastructure
10.3.1 Commercial vehicle exports - total value
10.3.2 Commercial vehicle imports - total value
10.3.3 Automotive exports - total value
10.3.4 Automotive imports - total value
10.3.5 Total internet subscribers
10.4 Labor Force
10.4.1 Labor force
10.5 Demographics
10.5.1 Gross tiol disposable income (US$)
10.5.2 Household consumption expenditure (US$)
10.5.3 Total population
10.5.4 Urban and rural populations
10.5.5 Age distribution of the total population
11 Appendix
11.1 Methodology
11.2 Contact Timetric
11.3 About Timetric
11.4 Timetric's Services
11.5 Disclaimer


List of Tables
Table 1: Insurance Industry Definitions
Table 2: Austrian Insurance Industry - Gross Written Premium by Segment (EUR Billion), 2009-2013
Table 3: Austrian Insurance Industry - Gross Written Premium by Segment (US$ Billion), 2009-2013
Table 4: Austrian Insurance Industry - Gross Written Premium by Segment (EUR Billion), 2013-2018
Table 5: Austrian Insurance Industry - Gross Written Premium by Segment (US$ Billion), 2013-2018
Table 6: Austrian Insurance Industry - Gross Written Premium by Segment (Percentage Share), 2009-2018
Table 7: Austrian Insurance Industry - Direct Written Premium by Segment (EUR Billion), 2009-2013
Table 8: Austrian Insurance Industry - Direct Written Premium by Segment (US$ Billion), 2009-2013
Table 9: Austrian Insurance Industry - Direct Written Premium by Segment (EUR Billion), 2013-2018
Table 10: Austrian Insurance Industry - Direct Written Premium by Segment (US$ Billion), 2013-2018
Table 11: Austrian Insurance Industry - Direct Written Premium by Segment (Percentage Share), 2009-2018
Table 12: Austrian Persol Accident and Health Insurance - Gross Written Premium by Category (EUR Billion), 2009-2013
Table 13: Austrian Persol Accident and Health Insurance - Gross Written Premium by Category (US$ Billion), 2009-2013
Table 14: Austrian Persol Accident and Health Insurance - Gross Written Premium by Category (EUR Billion), 2013-2018
Table 15: Austrian Persol Accident and Health Insurance - Gross Written Premium by Category (US$ Billion), 2013-2018
Table 16: Austrian Persol Accident and Health Insurance - Direct Written Premium by Category (EUR Billion), 2009-2013
Table 17: Austrian Persol Accident and Health Insurance - Direct Written Premium by Category (US$ Billion), 2009-2013
Table 18: Austrian Persol Accident and Health Insurance - Direct Written Premium by Category (EUR Billion), 2013-2018
Table 19: Austrian Persol Accident and Health Insurance - Direct Written Premium by Category (US$ Billion), 2013-2018
Table 20: Austrian Persol Accident and Health Insurance - Earned Premium (EUR Billion), 2009-2013
Table 21: Austrian Persol Accident and Health Insurance - Earned Premium (EUR Billion), 2013-2018
Table 22: Austrian Persol Accident and Health Insurance - Paid Claims by Category (EUR Billion), 2009-2013
Table 23: Austrian Persol Accident and Health Insurance - Paid Claims by Category (US$ Billion), 2009-2013
Table 24: Austrian Persol Accident and Health Insurance - Paid Claims by Category (EUR Billion), 2013-2018
Table 25: Austrian Persol Accident and Health Insurance - Paid Claims by Category (US$ Billion), 2013-2018
Table 26: Austrian Persol Accident and Health Insurance - Incurred Loss by Category (EUR Billion), 2009-2013
Table 27: Austrian Persol Accident and Health Insurance - Incurred Loss by Category (US$ Billion), 2009-2013
Table 28: Austrian Persol Accident and Health Insurance - Incurred Loss by Category (EUR Billion), 2013-2018
Table 29: Austrian Persol Accident and Health Insurance - Incurred Loss by Category (US$ Billion), 2013-2018
Table 30: Austrian Persol Accident and Health Insurance - Retention by Category (EUR Billion), 2009-2013
Table 31: Austrian Persol Accident and Health Insurance - Retention by Category (US$ Billion), 2009-2013
Table 32: Austrian Persol Accident and Health Insurance - Retention by Category (EUR Billion), 2013-2018
Table 33: Austrian Persol Accident and Health Insurance - Retention by Category (US$ Billion), 2013-2018
Table 34: Austrian Persol Accident and Health Insurance - Loss Ratio (%), 2009-2013
Table 35: Austrian Persol Accident and Health Insurance - Loss Ratio (%), 2013-2018
Table 36: Austrian Persol Accident and Health Insurance - Commission and Expenses (EUR Million), 2009-2013
Table 37: Austrian Persol Accident and Health Insurance - Commission and Expenses (EUR Million), 2013-2018
Table 38: Austrian Persol Accident and Health Insurance - Combined Ratio (%), 2009-2013
Table 39: Austrian Persol Accident and Health Insurance - Combined Ratio (%), 2013-2018
Table 40: Austrian Persol Accident and Health Insurance - Frauds and Crimes (EUR Billion), 2009-2013
Table 41: Austrian Persol Accident and Health Insurance - Frauds and Crimes (EUR Million), 2013-2018
Table 42: Austrian Persol Accident and Health Insurance - Total Assets (EUR Billion), 2009-2013
Table 43: Austrian Persol Accident and Health Insurance - Total Assets (EUR Billion), 2013-2018
Table 44: Austrian Persol Accident and Health Insurance - Total Investment Income (EUR Million), 2009-2013
Table 45: Austrian Persol Accident and Health Insurance - Total Investment Income (EUR Million), 2013-2018
Table 46: Austrian Persol Accident and Health Insurance - Retentions (EUR Billion), 2009-2013
Table 47: Austrian Persol Accident and Health Insurance - Retentions (EUR Billion), 2013-2018
Table 48: Austrian Persol Accident Insurance - Number of Policies Sold (Thousand), 2009-2013
Table 49: Austrian Persol Accident Insurance - Number of Policies Sold (Thousand), 2013-2018
Table 50: Austrian Persol Accident Insurance - Gross Written Premium (EUR Million), 2009-2013
Table 51: Austrian Persol Accident Insurance - Gross Written Premium (EUR Million), 2013-2018
Table 52: Austrian Persol Accident Insurance - Loss Ratio (%), 2009-2013
Table 53: Austrian Persol Accident Insurance - Loss Ratio (%), 2013-2018
Table 54: Austrian Travel Insurance - Number of Policies Sold (Thousand), 2009-2013
Table 55: Austrian Travel Insurance - Number of Policies Sold (Thousand), 2013-2018
Table 56: Austrian Travel Insurance - Gross Written Premium (EUR Million), 2009-2013
Table 57: Austrian Travel Insurance - Gross Written Premium (EUR Billion), 2013-2018
Table 58: Austrian Travel Insurance - Loss Ratio (%), 2009-2013
Table 59: Austrian Travel Insurance - Loss Ratio (%), 2013-2018
Table 60: Austrian Health Insurance - Number of Policies Sold (Thousand), 2009-2013
Table 61: Austrian Health Insurance - Number of Policies Sold (Thousand), 2013-2018
Table 62: Austrian Health Insurance - Gross Written Premium (EUR Billion), 2009-2013
Table 63: Austrian Health Insurance - Gross Written Premium (EUR Billion), 2013-2018
Table 64: Austrian Health Insurance - Direct Written Premium (EUR Billion), 2009-2013
Table 65: Austrian Health Insurance - Direct Written Premium (EUR Billion), 2013-2018
Table 66: Austrian Health Insurance - Loss Ratio (%), 2009-2013
Table 67: Austrian Health Insurance - Loss Ratio (%), 2013-2018
Table 68: Austrian Health Insurance - Retentions (EUR Billion), 2009-2013
Table 69: Austrian Health Insurance - Retentions (EUR Billion), 2013-2018
Table 70: Austrian Persol Accident and Health Insurance - Direct Marketing Commission Paid (EUR Million), 2009-2013
Table 71: Austrian Persol Accident and Health Insurance - Direct Marketing Commission Paid (EUR Million), 2013-2018
Table 72: Austrian Persol Accident and Health Insurance - New Business Gross Written Premium (EUR Million), 2009-2013
Table 73: Austrian Persol Accident and Health Insurance - New Business Gross Written Premium (EUR Million), 2013-2018
Table 74: Austrian Persol Accident and Health Insurance - Policies Sold Through Direct Marketing (Thousand), 2009-2013
Table 75: Austrian Persol Accident and Health Insurance - Policies Sold Through Direct Marketing (Thousand), 2013-2018
Table 76: Austrian Persol Accident and Health Insurance - Number of Direct Marketing Distributors, 2009-2013
Table 77: Austrian Persol Accident and Health Insurance - Number of Direct Marketing Distributors, 2013-2018
Table 78: Austrian Persol Accident and Health Insurance - Bancassurance Commission Paid (EUR Million), 2009-2013
Table 79: Austrian Persol Accident and Health Insurance - Bancassurance Commission Paid (EUR Million), 2013-2018
Table 80: Austrian Persol Accident and Health Insurance - New Business Gross Written Premium (EUR Million), 2009-2013
Table 81: Austrian Persol Accident and Health Insurance - New Business Gross Written Premium (EUR Million), 2013-2018
Table 82: Austrian Persol Accident and Health Insurance - Policies Sold Through Bancassurance (Thousand), 2009-2013
Table 83: Austrian Persol Accident and Health Insurance - Policies Sold Through Bancassurance (Thousand), 2013-2018
Table 84: Austrian Persol Accident and Health Insurance - Number of Bancassurance Distributors, 2009-2013
Table 85: Austrian Persol Accident and Health Insurance - Number of Bancassurance Distributors, 2013-2018
Table 86: Austrian Persol Accident and Health Insurance - Commission Paid to Agencies (EUR Million), 2009-2013
Table 87: Austrian Persol Accident and Health Insurance - Commission Paid to Agencies (EUR Million), 2013-2018
Table 88: Austrian Persol Accident and Health Insurance - New Business Gross Written Premium (EUR Million), 2009-2013
Table 89: Austrian Persol Accident and Health Insurance - New Business Gross Written Premium (EUR Million), 2013-2018
Table 90: Austrian Persol Accident and Health Insurance - Policies Sold Through Agencies (Thousand), 2009-2013
Table 91: Austrian Persol Accident and Health Insurance - Policies Sold Through Agencies (Thousand), 2013-2018
Table 92: Austrian Persol Accident and Health Insurance - Number of Agencies, 2009-2013
Table 93: Austrian Persol Accident and Health Insurance - Number of Agencies, 2013-2018
Table 94: Austrian Persol Accident and Health Insurance - E-Commerce Commission Paid (EUR Million), 2009-2013
Table 95: Austrian Persol Accident and Health Insurance - E-Commerce Commission Paid (EUR Million), 2013-2018
Table 96: Austrian Persol Accident and Health Insurance - New Business Gross Written Premium (EUR Million), 2009-2013
Table 97: Austrian Persol Accident and Health Insurance - New Business Gross Written Premium (EUR Million), 2013-2018
Table 98: Austrian Persol Accident and Health Insurance - Policies Sold Through E-Commerce (Thousand), 2009-2013
Table 99: Austrian Persol Accident and Health Insurance - Policies Sold Through E-Commerce (Thousand), 2013-2018
Table 100: Austrian Persol Accident and Health Insurance - Number of E-Commerce Distributors, 2009-2013
Table 101: Austrian Persol Accident and Health Insurance - Number of E-Commerce Distributors, 2013-2018
Table 102: Austrian Persol Accident and Health Insurance - Commission Paid to Brokers (EUR Million), 2009-2013
Table 103: Austrian Persol Accident and Health Insurance - Commission Paid to Brokers (EUR Million), 2013-2018
Table 104: Austrian Persol Accident and Health Insurance - New Business Gross Written Premium (EUR Million), 2009-2013
Table 105: Austrian Persol Accident and Health Insurance - New Business Gross Written Premium (EUR Million), 2013-2018
Table 106: Austrian Persol Accident and Health Insurance - Policies Sold Through Brokers (Thousand), 2009-2013
Table 107: Austrian Persol Accident and Health Insurance - Policies Sold Through Brokers (Thousand), 2013-2018
Table 108: Austrian Persol Accident and Health Insurance - Number of Brokers, 2009-2013
Table 109: Austrian Persol Accident and Health Insurance - Number of Brokers, 2013-2018
Table 110: Austrian Persol Accident and Health Insurance - Commission Paid to Other Channels (EUR Million), 2009-2013
Table 111: Austrian Persol Accident and Health Insurance - Commission Paid to Other Channels (EUR Million), 2013-2018
Table 112: Austrian Persol Accident and Health Insurance - New Business Gross Written Premium (EUR Million), 2009-2013
Table 113: Austrian Persol Accident and Health Insurance - New Business Gross Written Premium (EUR Million), 2013-2018
Table 114: Austrian Persol Accident and Health Insurance - Policies Sold Through Other Channels (Thousand), 2009-2013
Table 115: Austrian Persol Accident and Health Insurance - Policies Sold Through Other Channels (Thousand), 2013-2018
Table 116: Austrian Persol Accident and Health Insurance - Number of Distributors in Other Channels, 2009-2013
Table 117: Austrian Persol Accident and Health Insurance - Number of Distributors in Other Channels, 2013-2018
Table 118: Austrian Reinsurance - Premium Accepted by Category (EUR Million), 2009-2013
Table 119: Austrian Reinsurance - Premium Accepted by Category (US$ Million), 2009-2013
Table 120: Austrian Reinsurance - Premium Accepted by Category (EUR Million), 2013-2018
Table 121: Austrian Reinsurance - Premium Accepted by Category (US$ Million), 2013-2018
Table 122: Austrian Reinsurance - Premium Ceded by Type of Insurance (EUR Million), 2009-2013
Table 123: Austrian Reinsurance - Premium Ceded by Type of Insurance (US$ Million), 2009-2013
Table 124: Austrian Reinsurance - Premium Ceded by Type of Insurance (EUR Million), 2013-2018
Table 125: Austrian Reinsurance - Premium Ceded by Type of Insurance (US$ Million), 2013-2018
Table 126: Austrian Persol Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Table 127: Austrian Persol Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Table 128: Austria - Life Insurance Regulatory Framework
Table 129: Austria - Property Insurance Regulatory Framework
Table 130: Austria - Motor Insurance Regulatory Framework
Table 131: Austria - Guarantee Fund Requirement
Table 132: Austria - Insurance Premium Tax Rates for the Fincial Year 2013
Table 133: Austria - Corporate Tax Rates for the Fincial Year 2013
Table 134: Shares of Key Insurers in the Austrian Persol Accident and Health Insurance Segment (%), 2013
Table 135: Uniqa �sterreich Versicherungen AG, Key Facts
Table 136: Uniqa �sterreich Versicherungen AG, Key Fincials (EUR Million), 2009-2013
Table 137: Wiener St�dtische Versicherung AG, Key Facts
Table 138: Wiener St�dtische Versicherung AG, Key Fincials (EUR Million), 2009-2013
Table 139: Generali Versicherung AG, Key Facts
Table 140: Generali Versicherung AG, Key Fincials (EUR Million), 2009-2013
Table 141: Merkur Versicherung AG, Key Facts
Table 142: Merkur Versicherung AG, Key Fincials (EUR Million), 2009-2013