Personal Accident and Health Insurance in Canada, Key Trends and Opportunities to 2017

Published: Jan, 2014 | Pages: 233 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)


Synopsis
The report provides in depth market analysis, information and insights into the Canadian personal accident and health insurance segment, including:
The Canadian 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 the Canadian personal accident and health insurance segment
The detailed competitive landscape in the personal accident and health insurance segment in Canada
Regulatory policies of the Canadian insurance industry
A description of the personal accident and health reinsurance segment in Canada
Porter's Five Forces Analysis of the personal accident and health insurance segment
A benchmarking section on the Canadian life insurance segment in comparison with other countries with US$60-US$150 billion in gross written premium 

Summary
The Canadian personal accident and health insurance segment grew from CAD16.1 billion (US$15.1 billion) in 2008 to CAD20.5 billion (US$20.6 billion) in 2012, at a review-period CAGR of 6.3%. The growth resulted from an increased number of outbound travelers from Canada, rising demand for private health insurance products as a result of inadequate publicly funded healthcare and a rising elderly population which consumes more health insurance products. These factors, coupled with the improving business and environmental conditions in the US, the largest trading partner and importer of Canada's goods, is expected to support the growth of the Canadian personal accident and health insurance segment over the forecast period (2013-2017). As such, the Canadian personal accident and health segment is expected to grow at a CAGR of 5.8% over the forecast period. 
Scope
This report provides a comprehensive analysis of the personal accident and health insurance segment in Canada:
It provides historical values for the Canadian personal accident and health insurance segment for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period.
It offers a detailed analysis of the key categories in the Canadian personal accident and health insurance segment, along with market forecasts until 2017.
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 Canada.
Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Canada for the personal accident and health insurance segment.
It provides a detailed analysis of the reinsurance segment in Canada and its growth prospects.
It profiles the top personal accident and health insurance companies in Canada and outlines the key regulations affecting them. 
Reason To Buy
 Make strategic business decisions using in-depth historic and forecast market data related to the Canadian personal accident and health insurance segment and each category within it
Understand the demand-side dynamics, key market trends and growth opportunities within the Canadian 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 the Canadian insurance segment and its impact on companies and the market's future 
Key Highlights
 The Canadian personal accident and health segment rose from CAD16.1 billion (US$15.1 billion) in 2008 to CAD20.5 billion (US$20.6 billion) in 2012, at a CAGR of 6.3% during the review period. 
The growth was a product of the increased number of outbound travelers from Canada, rising demand for private health insurance products from an inadequate public system, and the rising elderly population.
The health category is controlled by the public sector, while private health insurers complement the public healthcare system by providing non-urgent and elective treatments.
The main distribution channels for personal accident and health insurers in Canada are agencies, brokers and direct marketing
The personal accident and health segment is competitive with the presence of both domestic and overseas businesses.

 1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology
3 Regiol Market Dymics
3.1 Overview
3.1.1 Market trends
3.1.2 Market size
4 Persol Accident and Health Insurance Segment - Regiol Benchmarking
4.1 Scale and Penetration
4.1.1 Total market gross written premium
4.1.2 Premium per capita
4.1.3 Persol accident and health insurance penetration (as a percentage of GDP)
4.2 Growth
4.2.1 Gross written premium
4.2.2 Gross written premium per capita
4.3 Efficiency and Risk
4.3.1 Loss ratio
4.3.2 Combined ratio
4.3.3 Incurred losses per capita
4.3.4 Incurred losses as a percentage of GDP
4.4 Distribution Channels
4.4.1 Direct marketing
4.4.2 Insurance brokers
4.4.3 Bancassurance
4.4.4 Agencies
5 Cadian Insurance Industry Attractiveness
5.1 Insurance Industry Size, 2008-2017
5.2 Key Industry Trends and Drivers
5.2.1 Business drivers
6 Persol Accident and Health Insurance Segment Outlook
6.1 Persol Accident and Health Insurance Growth Prospects by Category
6.1.1 Persol accident insurance
6.1.2 Travel insurance
6.1.3 Health insurance
7 Alysis by Distribution Channels
7.1 Direct Marketing
7.2 Bancassurance
7.3 Agencies
7.4 E-commerce
7.5 Brokers
7.6 Other Channels
8 Porter's Five Forces Alysis - Cadian Persol Accident and Health Insurance
8.1 Bargaining power of suppliers: Low to Medium
8.2 Bargaining Power of Buyers: Low to Medium
8.3 Barriers to Entry: Medium to High
8.4 Intensity of Rivalry: Medium
8.5 Threat of Substitutes: Medium
9 Reinsurance Growth Dymics and Challenges
9.1 Reinsurance Segment Size, 2008-2017
9.2 Reinsurance Segment Size by Type of Insurance, 2008-2017
10 Governce, Risk and Compliance
10.1 Legislation Overview and Historical Evolution
10.2 Legislation Trends by Type of Insurance
10.2.1 Life insurance regulatory trends
10.2.2 Property insurance regulatory trends
10.2.3 Motor insurance regulatory trends
10.2.4 Marine, aviation and transit insurance regulatory trends
10.2.5 Persol accident and health insurance regulatory trends
10.3 Compulsory Insurance
10.3.1 Motor third-party liability insurance
10.3.2 Marine liability insurance
10.3.3 Workmen's compensation insurance
10.4 Supervision and Control
10.4.1 Intertiol Association of Insurance Supervisors (IAIS)
10.4.2 Office of the Superintendent of Fincial Institutions Cada (OSFI)
10.4.3 Cadian Council of Insurance Regulators (CCIR)
10.5 Non-Admitted Insurance Regulatory Trends
10.5.1 Overview
10.5.2 Intermediaries
10.5.3 Market practices
10.5.4 Fines and pelties
10.6 Company Registration and Operations
10.6.1 Types of insurance organization
10.6.2 Establishing a local company
10.6.3 Foreign ownership
10.6.4 Types of license
10.6.5 Capital requirements
10.6.6 Solvency margins
10.6.7 Reserve requirements
10.6.8 Investment regulations
10.6.9 Statutory return requirements
10.7 Taxation
10.7.1 Insurance premium or policy taxation
10.7.2 Corporate tax
10.7.3 VAT
10.7.4 Captives
10.8 Legal System
10.8.1 Introduction
10.8.2 Access to court
10.8.3 Altertive dispute resolution (ADR)
11 Competitive Landscape and Strategic Insights
11.1 Overview
11.2 Leading Companies in the Cadian Persol Accident and Health Insurance Segment
11.3 The Manufacturers Life Insurance Company - Company Overview
11.3.1 The Manufacturers Life Insurance Company - key facts
11.4 Sun Life Assurance Company - Company Overview
11.4.1 Sun Life Assurance Company - key facts
11.5 The Great-West Life Assurance Company - Company Overview
11.5.1 The Great-West Life Assurance Company - key facts
11.6 RBC Life Insurance Company - Company Overview
11.6.1 RBC Life Insurance Company - key facts
11.7 The Cada Life Assurance Company - Company Overview
11.7.1 The Cada Life Assurance Company - key facts
12 Business Environment and Country Risk
12.1 Business Confidence
12.1.1 Market capitalization trend - Cadian Stock Exchange, Cada
12.2 Economic Performance
12.2.1 GDP at constant prices (US$)
12.2.2 GDP per capita at constant prices (US$)
12.2.3 GDP at current prices (US$)
12.2.4 GDP per capita at current prices (US$)
12.2.5 GDP by key segments
12.2.6 Agriculture, hunting, forestry and fishing net output at current prices (US$)
12.2.7 Agriculture, hunting, forestry and fishing net output at current prices as a percentage of GDP
12.2.8 Manufacturing net output at current prices (US$)
12.2.9 Manufacturing net output at current prices as a percentage of GDP
12.2.10 Mining, manufacturing and utilities at current prices (US$)
12.2.11 Mining, manufacturing and utilities at current prices as a percentage of GDP
12.2.12 Construction net output at current prices (US$)
12.2.13 Construction net output at current prices as a percentage of GDP
12.2.14 Inflation rate
12.2.15 Exports as a percentage of GDP
12.2.16 Imports as a percentage of GDP
12.2.17 Exports growth
12.2.18 Imports growth
12.2.19 Annual average exchange rate US$-CAD
12.3 Infrastructure
12.3.1 Commercial vehicles Imports - total value
12.3.2 Commercial vehicles exports - total value
12.3.3 Automotive exports - total value
12.3.4 Automotive imports - total value
12.3.5 Total internet subscribers
12.4 Labor Force
12.4.1 Labor force
12.4.2 Unemployment rate
12.5 Demographics
12.5.1 Gross tiol disposable income
12.5.2 Household consumption expenditure
12.5.3 Total population
12.5.4 Urban and rural populations
12.5.5 Age distribution of the total population
13 Appendix
13.1 Methodology
13.2 Contact Timetric
13.3 About Timetric
13.4 Timetric's Services
13.5 Disclaimer


List of Tables
Table 1: Insurance Industry Definitions
Table 2: Peer Group (US$60-US$150 Billion) Insurance Markets - Health Expenditure  (% of GDP), 2008-2010
Table 3: Cadian Insurance - Overall Written Premium by Segment (CAD Billion), 2008-2012
Table 4: Cadian Insurance - Overall Written Premium by Segment (US$ Billion), 2008-2012
Table 5: Cadian Insurance - Overall Written Premium by Segment (CAD Billion), 2012-2017
Table 6: Cadian Insurance - Overall Written Premium by Segment (US$ Billion), 2012-2017
Table 7: Cadian Insurance - Segmentation (% Share), 2008-2017
Table 8: Cadian Persol Accident and Health Insurance - Written Premium by Category (CAD Billion), 2008-2012
Table 9: Cadian Persol Accident and Health Insurance - Written Premium by Category (US$ Billion), 2008-2012
Table 10: Cadian Persol Accident and Health Insurance - Written Premium by Category (CAD Billion), 2012-2017
Table 11: Cadian Persol Accident and Health Insurance - Written Premium by Category (US$ Billion), 2012-2017
Table 12: Cadian Persol Accident and Health Insurance - Earned Premium (CAD Billion), 2008-2012
Table 13: Cadian Persol Accident and Health Insurance - Earned Premium (CAD Billion), 2012-2017
Table 14: Cadian Persol Accident and Health Insurance - Paid Claims by Category (CAD Billion), 2008-2012
Table 15: Cadian Persol Accident and Health Insurance - Paid Claims by Category (US$ Billion), 2008-2012
Table 16: Cadian Persol Accident and Health Insurance - Paid Claims by Category (CAD Billion), 2012-2017
Table 17: Cadian Persol Accident and Health Insurance - Paid Claims by Category (US$ Billion), 2012-2017
Table 18: Cadian Persol Accident and Health Insurance - Incurred Loss by Category (CAD Billion), 2008-2012
Table 19: Cadian Persol Accident and Health Insurance - Incurred Loss by Category (US$ Billion), 2008-2012
Table 20: Cadian Persol Accident and Health Insurance - Incurred Loss by Category (CAD Billion), 2012-2017
Table 21: Cadian Persol Accident and Health Insurance - Incurred Loss by Category (US$ Billion), 2012-2017
Table 22: Cadian Persol Accident and Health Insurance - Loss Ratio (%), 2008-2012
Table 23: Cadian Persol Accident and Health Insurance - Loss Ratio (%), 2012-2017
Table 24: Cadian Persol Accident and Health Insurance - Commission and Expenses (CAD Billion), 2008-2012
Table 25: Cadian Persol Accident and Health Insurance - Commission and Expenses (CAD Billion), 2012-2017
Table 26: Cadian Persol Accident and Health Insurance - Combined Ratio (%), 2008-2012
Table 27: Cadian Persol Accident and Health Insurance - Combined Ratio (%), 2012-2017
Table 28: Cadian Persol Accident and Health Insurance - Frauds and Crimes (CAD Billion), 2008-2012
Table 29: Cadian Persol Accident and Health Insurance - Frauds and Crimes (CAD Billion), 2012-2017
Table 30: Cadian Persol Accident and Health Insurance - Total Assets (CAD Billion), 2008-2012
Table 31: Cadian Persol Accident and Health Insurance - Total Assets (CAD Billion), 2012-2017
Table 32: Cadian Persol Accident and Health Insurance - Total Investment Income (CAD Billion), 2008-2012
Table 33: Cadian Persol Accident and Health Insurance - Total Investment Income (CAD Billion), 2012-2017
Table 34: Cadian Persol Accident and Health Insurance - Retentions (CAD Billion), 2008-2012
Table 35: Cadian Persol Accident and Health Insurance - Retentions (CAD Billion), 2012-2017
Table 36: Cadian Persol Accident Insurance - Number of Policies Sold (Thousand), 2008-2012
Table 37: Cadian Persol Accident Insurance - Number of Policies Sold (Thousand), 2012-2017
Table 38: Cadian Persol Accident Insurance - Written Premium (CAD Billion), 2008-2012
Table 39: Cadian Persol Accident Insurance - Written Premium (CAD Billion), 2012-2017
Table 40: Cadian Persol Accident Insurance - Loss Ratio (%), 2008-2012
Table 41: Cadian Persol Accident Insurance - Loss Ratio (%), 2012-2017
Table 42: Cadian Travel Insurance - Number of Policies Sold (Thousand), 2008-2012
Table 43: Cadian Travel Insurance - Number of Policies Sold (Thousand), 2012-2017
Table 44: Cadian Travel Insurance - Written Premium (CAD Billion), 2008-2012
Table 45: Cadian Travel Insurance - Written Premium (CAD Billion), 2012-2017
Table 46: Cadian Travel Insurance - Loss Ratio (%), 2008-2012
Table 47: Cadian Travel Insurance - Loss Ratio (%), 2012-2017
Table 48: Cadian Health Insurance - Number of Policies Sold (Thousand), 2008-2012
Table 49: Cadian Health Insurance - Number of Policies Sold (Thousand), 2012-2017
Table 50: Cadian Health Insurance - Written Premium (CAD Billion), 2008-2012
Table 51: Cadian Health Insurance - Written Premium (CAD Billion), 2012-2017
Table 52: Cadian Non-Life Health Insurance - Loss Ratio (%), 2008-2012
Table 53: Cadian Health Insurance - Loss Ratio (%), 2012-2017
Table 54: Cadian Persol Accident and Health Insurance - Direct Marketing Commission Paid (CAD Million), 2008-2012
Table 55: Cadian Persol Accident and Health Insurance - Direct Marketing Commission Paid (CAD Million), 2012-2017
Table 56: Cadian Persol Accident and Health Insurance - Written Premium Through Direct Marketing (CAD Million), 2008-2012
Table 57: Cadian Persol Accident and Health Insurance - Written Premium Through Direct Marketing (CAD Billion), 2012-2017
Table 58: Cadian Persol Accident and Health Insurance - Policies Sold Through Direct Marketing (Thousand), 2008-2012
Table 59: Cadian Persol Accident and Health Insurance - Policies Sold Through Direct Marketing (Thousand), 2012-2017
Table 60: Cadian Persol Accident and Health Insurance - Number of Direct Marketing Distributors, 2008-2012
Table 61: Cadian Persol Accident and Health Insurance - Number of Direct Marketing Distributors, 2012-2017
Table 62: Cadian Persol Accident and Health Insurance - Bancassurance Commission Paid (CAD Million), 2008-2012
Table 63: Cadian Persol Accident and Health Insurance - Bancassurance Commission Paid (CAD Million), 2012-2017
Table 64: Cadian Persol Accident and Health Insurance - Written Premium Through Bancassurance (CAD Million), 2008-2012
Table 65: Cadian Persol Accident and Health Insurance - Written Premium Through Bancassurance (CAD Million), 2012-2017
Table 66: Cadian Persol Accident and Health Insurance - Policies Sold Through Bancassurance (Thousand), 2008-2012
Table 67: Cadian Persol Accident and Health Insurance - Policies Sold Through Bancassurance (Thousand), 2012-2017
Table 68: Cadian Persol Accident and Health Insurance - Number of Bancassurance Distributors, 2008-2012
Table 69: Cadian Persol Accident and Health Insurance - Number of Bancassurance Distributors, 2012-2017
Table 70: Cadian Persol Accident and Health Insurance - Commission Paid to Agencies (CAD Billion), 2008-2012
Table 71: Cadian Persol Accident and Health Insurance - Commission Paid to Agencies (CAD Billion), 2012-2017
Table 72: Cadian Persol Accident and Health Insurance - Written Premium Through Agencies (CAD Billion), 2008-2012
Table 73: Cadian Persol Accident and Health Insurance - Written Premium Through Agencies (CAD Billion), 2012-2017
Table 74: Cadian Persol Accident and Health Insurance - Policies Sold Through Agencies (Thousand), 2008-2012
Table 75: Cadian Persol Accident and Health Insurance - Policies Sold Through Agencies (Thousand), 2012-2017
Table 76: Cadian Persol Accident and Health Insurance - Number of Agencies, 2008-2012
Table 77: Cadian Persol Accident and Health Insurance - Number of Agencies, 2012-2017
Table 78: Cadian Persol Accident and Health Insurance - E-Commerce Commission Paid (CAD Million), 2008-2012
Table 79: Cadian Persol Accident and Health Insurance - E-Commerce Commission Paid (CAD Million), 2012-2017
Table 80: Cadian Persol Accident and Health Insurance - Written Premium Through E-Commerce (CAD Billion), 2008-2012
Table 81: Cadian Persol Accident and Health Insurance - Written Premium Through E-Commerce (CAD Million), 2012-2017
Table 82: Cadian Persol Accident and Health Insurance - Policies Sold Through E-Commerce (Thousand), 2008-2012
Table 83: Cadian Persol Accident and Health Insurance - Policies Sold Through E-Commerce (Thousand), 2012-2017
Table 84: Cadian Persol Accident and Health Insurance - Number of E-Commerce Distributors, 2008-2012
Table 85: Cadian Persol Accident and Health Insurance - Number of E-Commerce Distributors, 2012-2017
Table 86: Cadian Persol Accident and Health Insurance - Commission Paid to Brokers (CAD Billion), 2008-2012
Table 87: Cadian Persol Accident and Health Insurance - Commission Paid to Brokers (CAD Billion), 2012-2017
Table 88: Cadian Persol Accident and Health Insurance - Written Premium Through Brokers (CAD Billion), 2008-2012
Table 89: Cadian Persol Accident and Health Insurance - Written Premium Through Brokers (CAD Billion), 2012-2017
Table 90: Cadian Persol Accident and Health Insurance - Policies Sold Through Brokers (Thousand), 2008-2012
Table 91: Cadian Persol Accident and Health Insurance - Policies Sold Through Brokers (Thousand), 2012-2017
Table 92: Cadian Persol Accident and Health Insurance - Number of Brokers, 2008-2012
Table 93: Cadian Persol Accident and Health Insurance - Number of Brokers, 2012-2017
Table 94: Cadian Persol Accident and Health Insurance - Commission Paid to Other Channels (CAD Million), 2008-2012
Table 95: Cadian Persol Accident and Health Insurance - Commission Paid to Other Channels (CAD Million), 2012-2017
Table 96: Cadian Persol Accident and Health Insurance - Written Premium Through Other Channels (CAD Million), 2008-2012
Table 97: Cadian Persol Accident and Health Insurance - Written Premium Through Other Channels (CAD Million), 2012-2017
Table 98: Cadian Persol Accident and Health Insurance - Policies Sold Through Other Channels (Thousand), 2008-2012
Table 99: Cadian Persol Accident and Health Insurance - Policies Sold Through Other Channels (Thousand), 2012-2017
Table 100: Cadian Persol Accident and Health Insurance - Number of Distributors in Other Channels, 2008-2012
Table 101: Cadian Persol Accident and Health Insurance - Number of Distributors in Other Channels, 2012-2017
Table 102: Reinsurance in Cadian by Category (CAD Billion), 2008-2012
Table 103: Reinsurance in Cadian by Category (US$ Billion), 2008-2012
Table 104: Reinsurance in Cada by Category (CAD Billion), 2012-2017
Table 105: Reinsurance in Cada by Category (US$ Billion), 2012-2017
Table 106: Cadian Premium Ceded to Reinsurance by Type of Insurance (CAD Billion), 2008-2012
Table 107: Cadian Premium Ceded to Reinsurance by Type of Insurance (US$ Billion), 2008-2012
Table 108: Cadian Premium Ceded to Reinsurance by Type of Insurance (CAD Billion), 2012-2017
Table 109: Cadian Premium Ceded to Reinsurance by Type of Insurance (US$ Billion), 2012-2017
Table 110: Cadian Life Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Table 111: Cadian Life Insurance - Percentage of Reinsurance Ceded (%), 2012-2017
Table 112: Cada - Legislations Governing Automobile Insurance in Each Province and Territory
Table 113: Cada - Workmen's Compensation Insurance
Table 114: Cada - Non-Admitted Insurance Regulatory Framework
Table 115: Cada - Legislations Governing Motor Insurance in Each Province and Territory
Table 116: Cada - Solvency Margin Requirements for Federally Regulated Insurance Companies
Table 117: Cada - Insurance Premium Taxation 2012-2013
Table 118: Cada - Corporate Taxation 2012-2013
Table 119: Cadian Persol Accident and Health Insurance, 2012
Table 120: The Manufacturers Life Insurance Company, Key Facts
Table 121: Sun Life Assurance Company, Key Facts
Table 122: The Great-West Life Assurance Company, Key Facts
Table 123: RBC Life Insurance Company, Key Facts
Table 124: The Cada Life Assurance Company, Key Facts