Personal Accident and Health Insurance in Israel, Key Trends and Opportunities to 2020

Published: Aug, 2017 | Pages: 90 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)

Synopsis

Timetric’s 'Personal Accident and Health Insurance in Israel, Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Israeli personal accident and health insurance segment, and a comparison of the Israeli insurance industry with its regional counterparts.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2011–2015) and forecast period (2015–2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Israeli economy and demographics, and provides detailed information on the competitive landscape in the country. 

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

Timetric’s 'Personal Accident and Health Insurance in Israel, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Israeli personal accident and health insurance segment, including:

• An overview of the Israeli personal accident and health insurance segment

• The Israeli personal accident and health insurance segment’s growth prospects by category

• A comprehensive overview of the Israeli economy and demographics

• A comparison of the Israeli personal accident and health insurance segment with its regional counterparts

• The various distribution channels in the Israeli personal accident and health insurance segment

• Details of the competitive landscape in the personal accident and health insurance segment in Israel

• Details of regulatory policy applicable to the Israeli insurance industry

Scope

This report provides a comprehensive analysis of the personal accident and health insurance segment in Israel:

• It provides historical values for the Israeli personal accident and health insurance segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.

• It offers a detailed analysis of the key categories in the Israeli personal accident and health insurance segment, and market forecasts to 2020.

• It provides a comparison of the Israeli personal accident and health insurance segment with its regional counterparts

• It provides an overview of the various distribution channels for personal accident and health insurance products in Israel.

• It profiles the top personal accident and health insurance companies in Israel, and outlines the key regulations affecting them.

Reasons To Buy

• Make strategic business decisions using in-depth historic and forecast market data related to the Israeli personal accident and health insurance segment, and each category within it.

• Understand the demand-side dynamics, key market trends and growth opportunities in the Israeli personal accident and health insurance segment.

• Assess the competitive dynamics in the personal accident and health insurance segment.

• Identify growth opportunities and market dynamics in key product categories.

• Gain insights into key regulations governing the Israeli insurance industry, and their impact on companies and the industry's future.

Key Highlights

• In May 2017, IDB Development Corporation, who owns a 55.0% share in Clal Insurance Enterprises Holdings, decided to sell 5.0% of its share. 

• In July 4, 2016, Israel Land Development Insurance Company Ltd acquired Altshuler Shaham Insurance Company Ltd, an insurance subsidiary of Altshuler Shaham Group.

• In February 2016, a uniform health policy was allowed in the country by the Ministry of Finance.

• According to Medical Tourism Association, in May 2016, Israel ranked first in the world in terms of quality of medical facilities and services.

 Table Of Content

1 Key Facts and Highlights

2 Executive Summary

3 Economy and Demographics

4 Segment Outlook
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Claims

5 Outlook by Category
5.1 Personal Accident Insurance
5.1.1 Premium
5.1.2 Claims
5.2 Health Insurance
5.2.1 Premium
5.2.2 Claims
5.3 Travel Insurance
5.3.1 Premium
5.3.2 Claims

6 Distribution Channel Outlook

7 Competitive Landscape
7.1 Company Profiles
7.1.1 Migdal Insurance Company – company overview
7.1.2 The Phoenix Insurance Company – company overview
7.1.3 Harel Insurance Company – company overview
7.1.4 Clal Insurance Enterprises Holdings Ltd – company overview
7.1.5 Menorah Mivtachim Insurance Company – company overview

8 Governance, Risk and Compliance
8.1 Legislation Overview and Historical Evolution
8.2 Latest Changes in Regulation
8.3 Legislation and Market Practice by Type of Insurance
8.3.1 Life insurance
8.3.2 Property insurance
8.3.3 Motor insurance
8.3.4 Liability insurance
8.3.5 Marine, aviation and transit insurance
8.3.6 Personal accident and health insurance
8.4 Compulsory Insurance
8.4.1 Motor third-party liability insurance
8.4.2 Workers’ compensation insurance
8.4.3 National insurance system
8.4.4 Liability for ships with respect to oil pollution
8.4.5 Professional indemnity insurance for portfolio manager
8.4.6 Professional indemnity insurance for investment advisor and marketing agent
8.4.7 Health insurance
8.5 Supervision and Control
8.5.1 International Association of Insurance Supervisors
8.5.2 Capital Markets, Insurance and Savings Division
8.5.3 Israel Insurance Association
8.5.4 The Association of Life Insurance Companies of Israel Ltd
8.6 Non-Admitted Insurance Regulations
8.6.1 Overview
8.6.2 Intermediaries
8.6.3 Market practices
8.6.4 Fines and Penalties
8.7 Company Registration and Operations
8.7.1 Type of insurance organization
8.7.2 Establishing a local company
8.7.3 Foreign ownership
8.7.4 Types of license
8.7.5 Capital requirements
8.7.6 Solvency margin
8.7.7 Reserve requirements
8.7.8 Investment regulations
8.7.9 Statutory return requirements
8.7.10 Fee structure
8.8 Taxation
8.8.1 Insurance premium or policy taxation
8.8.2 Withholding taxes on premium paid overseas
8.8.3 Corporate tax
8.8.4 VAT
8.8.5 Captives
8.9 Legal System
8.9.1 Introduction
8.9.2 Access to court
8.9.3 Alternative dispute resolution

9 Databook
9.1 Policies and Premium
9.2 Claims and Expenses
9.3 Personal Accident Insurance
9.4 Health Insurance
9.5 Health Insurance by Product
9.6 Travel Insurance

10 Definitions and Methodology
10.1 Definitions
10.2 Methodology

11 About Timetric
11.1 Contact Timetric
11.2 About Timetric
11.3 Timetric’s Services
11.4 Disclaimer

List of Tables

Table 1: Israeli Personal Accident and Health Insurance – Key Facts, 2015
Table 2: Israeli Personal Accident and Health Insurance – Top Insurers, 2015
Table 3: Israeli Government Credit Ratings
Table 4: Israeli Personal Accident and Health Insurance – Gross Written Premium (ILS Billion and US$ Billion), 2011–2015
Table 5: Israeli Personal Accident and Health Insurance – Penetration (%), 2011–2015
Table 6: Israeli Personal Accident and Health Insurance – Gross Written Premium (ILS Billion and US$ Billion), 2015–2020
Table 7: Israeli Personal Accident and Health Insurance – Penetration (%), 2015–2020
Table 8: Israeli Personal Accident and Health Insurance – Premium per Capita (ILS and US$), 2011–2015
Table 9: Israeli Personal Accident and Health Insurance – Premium per Capita (ILS and US$), 2015–2020
Table 10: Israeli Personal Accident and Health Insurance – Paid Claims (ILS Billion and US$ Billion), 2011–2015
Table 11: Israeli Personal Accident and Health Insurance – Paid Claims (ILS Billion and US$ Billion), 2015–2020
Table 12: Israeli Personal Accident and Health Insurance – Direct Written Premium by Category (ILS Billion),2011–2015
Table 13: Israeli Personal Accident and Health Insurance – Direct Written Premium by Category (ILS Billion), 2015–2020
Table 14: Israeli Personal Accident Insurance – Direct Written Premium (ILS Billion and US$ Million), 2011–2015
Table 15: Israeli Personal Accident Insurance – Direct Written Premium (ILS Billion and US$ Million), 2015–2020
Table 16: Israeli Personal Accident Insurance – Paid Claims (ILS Million and US$ Million), 2011–2015
Table 17: Israeli Personal Accident Insurance – Paid Claims (ILS Million and US$ Million), 2015–2020
Table 18: Israeli Health Insurance – Direct Written Premium by Sub-Category (ILS Billion), 2011–2015
Table 19: Israeli Health Insurance – Direct Written Premium by Sub-Category (ILS Billion), 2015–2020
Table 20: Israeli Health Insurance – Paid Claims (ILS Billion and US$ Billion), 2011–2015
Table 21: Israeli Health Insurance – Paid Claims (ILS Billion and US$ Billion), 2015–2020
Table 22: Israeli Travel Insurance – Direct Written Premium (ILS Million and US$ Million), 2011–2015
Table 23: Israeli Travel Insurance – Direct Written Premium (ILS Million and US$ Million), 2015–2020
Table 24: Israeli Travel Insurance – Paid Claims (ILS Million and US$ Million), 2011–2015
Table 25: Israeli Travel Insurance – Paid Claims (ILS Million and US$ Million), 2015–2020
Table 26: Israeli Personal Accident and Health Insurance – Leading Insurers, 2015
Table 27: Migdal Insurance Company – Key Facts
Table 28: The Phoenix Insurance Company – Key Facts
Table 29: Harel Insurance Company – Key Facts
Table 30: Clal Insurance Enterprises Holdings Ltd – Key Facts
Table 31: Menorah Mivtachim Insurance Company – Key Facts
Table 32: Israel – Insurance Regulatory Framework Key Features
Table 33: Israel – Life Insurance Regulatory Framework
Table 34: Israel – Property Insurance Regulatory Framework
Table 35: Israel – Motor Insurance Regulatory Framework
Table 36: Israel – Liability Insurance Regulatory Framework
Table 37: Israel – Corporate Tax Rates for the Financial Year 2016
Table 38: Israeli Personal Accident and Health Insurance Industry – Policies and Premium, 2011–2015
Table 39: Israeli Personal Accident and Health Insurance Industry – Policies and Premium, 2015–2020
Table 40: Israeli Personal Accident and Health Insurance – Claims and Expenses, 2011–2015
Table 41: Israeli Personal Accident and Health Insurance – Claims and Expenses, 2015–2020
Table 42: Israeli Personal Accident and Health Insurance – Personal Accident Insurance, 2011–2015
Table 43: Israeli Personal Accident and Health Insurance – Personal Accident Insurance, 2015–2020
Table 44: Israeli Personal Accident and Health Insurance – Health Insurance, 2011–2015
Table 45: Israeli Personal Accident and Health Insurance – Health Insurance, 2015–2020
Table 46: Israeli Personal Accident and Health Insurance – Health by Product, 2011–2015
Table 47: Israeli Personal Accident and Health Insurance – Health by Product, 2015–2020
Table 48: Israeli Personal Accident and Health Insurance – Travel Insurance, 2011–2015
Table 49: Israeli Personal Accident and Health Insurance – Travel Insurance, 2015–2020
Table 50: Insurance Industry Definitions

List of Figures

Figure 1: Israeli Real GDP (ILS Billion), 2012–2021
Figure 2: Israeli Consumer Price Inflation (%), 2012–2021
Figure 3: Israeli ILS-US$ Exchange Rate, 2011–2020
Figure 4: Israeli Current Account Balance as Percentage of GDP (%), 2012–2021
Figure 5: Israeli Unemployment Rate, 2012–2021
Figure 6: Israeli Population by Age Group, 1990–2025
Figure 7: Israeli Personal Accident and Health Insurance Penetration – Regional Comparison (%), 2015
Figure 8: Israeli Insurance Segment Direct Written Premium Shares – Regional Comparison (%), 2015
Figure 9: Israeli Personal Accident and Health Insurance – Gross Written Premium (ILS Billion), 2011–2020
Figure 10: Israeli Personal Accident and Health Insurance – Penetration (%), 2011–2020
Figure 11: Israeli Personal Accident and Health Insurance – Premium per Capita (ILS), 2011–2020
Figure 12: Israeli Personal Accident and Health Insurance – Paid Claims (ILS Billion), 2011–2020
Figure 13: Israeli Personal Accident and Health Insurance – Direct Written Premium by Category (ILS Billion), 2011–2020
Figure 14: Israeli Personal Accident and Health Insurance – Direct Written Premium Dynamics by Category, 2011–2020
Figure 15: Israeli Personal Accident Insurance – Direct Written Premium (ILS Billion), 2011–2020
Figure 16: Israeli Personal Accident Insurance – Paid Claims (ILS Million), 2011–2020
Figure 17: Israeli Health Insurance – Direct Written Premium by Sub-Category (ILS Billion), 2011–2020
Figure 18: Israeli Health Insurance – Direct Written Premium Dynamics by Sub-Category, 2011–2020
Figure 19: Israeli Health Insurance – Paid Claims (ILS Billion), 2011–2020
Figure 20: Israeli Travel Insurance – Direct Written Premium (ILS Million), 2011–2020
Figure 21: Israeli Travel Insurance – Paid Claims (ILS Million), 2011–2020
Figure 22: Israel – Insurance Supervision and Control at Various Levels
Figure 23: Israel – Insurance Regulatory Frameworks for Company Registration and Operation