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

Published: May, 2014 | Pages: 227 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)


Synopsis
The report provides in-depth market analysis, information and insights into the Slovenian personal accident and health insurance segment, including:
The Slovenian 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 Slovenian personal accident and health insurance segment
The detailed competitive landscape in the personal accident and health insurance segment in Slovenia
Detailed regulatory policies of the Slovenian insurance industry
A description of the personal accident and health reinsurance segment in Slovenia
Porter's Five Forces analysis of the personal accident and health insurance segment
A benchmarking section on the Slovenian life insurance segment in comparison with other countries in Central and Eastern Europe 

Summary
Personal accident and health insurance was among the fastest-growing segments in the Slovenian insurance industry during the review period (2008-2012), despite the financial crisis. Rising healthcare costs and the bilateral healthcare system in Slovenia supported the segment's growth, supplemented by sustained growth in health and travel insurance during the review period. Over the forecast period (2012-2017), as demand for healthcare, and travel and tourism grows, the personal accident and health segment is projected to grow at a forecast-period CAGR of 4.5%. Economic recovery in the European Union (EU) and the implementation of Solvency II are also expected to support the segment's growth. 
Scope
This report provides a comprehensive analysis of the personal accident and health insurance segment in Slovenia:
It provides historical values for the Slovenian personal accident and health insurance segment for the report's 2008-2012 review period and projected figures for the 2012-2017 forecast period.
It offers a detailed analysis of the key sub-segments in Slovenian 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 Slovenia.
Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Slovenia for the personal accident and health insurance segment.
It provides a detailed analysis of the reinsurance segment in Slovenia and its growth prospects.
It profiles the top personal accident and health insurance companies in Slovenia 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 Slovenian personal accident and health insurance segment and each category within it
Understand the demand-side dynamics, key market trends and growth opportunities within the Slovenian 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 Slovenian insurance segment and its impact on companies and the market's future 
Key Highlights
 Personal accident and health insurance was among the fastest-growing segments in the Slovenian insurance industry during the review period (2008-2012), despite the financial crisis.
Health insurance is well distributed among compulsory and voluntary insurance classes. Compulsory health insurance is supported by the Health Insurance Institution of the Republic of Slovenia, while voluntary health insurance is supported by authorized private insurers. 
Due to the financial crisis in Slovenia, the government was forced to introduce austerity measures to control the fiscal deficit.
Personal accident insurance recorded a decline in its written premium during the review period. This was due to increasing public awareness of road traffic accidents, and improved accident-prevention measures adopted by Slovenian authorities.
Travel insurance was the fastest-growing category in the segment during the review period.

 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 - 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
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 E-commerce
4.4.3 Brokers
4.4.4 Bancassurance
4.4.5 Agencies
5 Slovenian Insurance Industry Attractiveness
5.1 Insurance Industry Size, 2008-2017
5.2 Key Industry Trends and 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 - Slovenian Persol Accident and Health Insurance
8.1 Bargaining Power of Suppliers: Medium
8.2 Bargaining Power of Buyers: Low to Medium
8.3 Barriers to Entry: Medium to High
8.4 Intensity of Rivalry: High
8.5 Threat of Substitutes: Low
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 and Market Practice by Type of Insurance
10.2.1 Life insurance
10.2.2 Property insurance
10.2.3 Motor insurance
10.2.4 Marine, aviation and transit insurance
10.2.5 Persol accident and health insurance
10.3 Compulsory Insurance
10.3.1 Health insurance
10.3.2 Motor third-party liability insurance
10.3.3 Marine third-party liability insurance
10.4 Supervision and Control
10.4.1 Intertiol Association of Insurance Supervisors
10.4.2 European Insurance and Occupatiol Pensions Authority
10.4.3 Insurance Supervision Agency
10.5 Non-Admitted Insurance Regulations
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
10.6.10 Fee structure
10.7 Taxation
10.7.1 Insurance premium or policy taxation
10.7.2 Withholding taxes on premium paid overseas
10.7.3 Corporate tax
10.7.4 VAT
10.7.5 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 Slovenian Persol Accident and Health Insurance Segment
11.3 Vzajem - Company Overview
11.3.1 Vzajem - key facts
11.3.2 Vzajem - key fincials
11.4 Adriatic Slovenica - Company Overview
11.4.1 Adriatic Slovenica - key facts
11.4.2 Adriatic Slovenica - key fincials
11.5 Triglav Health Insurance Company - Company Overview
11.5.1 Triglav Health Insurance Company - key facts
11.5.2 Triglav Health Insurance Company - key fincials
11.6 Merkur Insurance Company - Company Overview
11.6.1 Merkur Insurance Company - key facts
11.7 Generali Insurance Company - Company Overview
11.7.1 Generali Insurance Company - key facts
11.8 Prva Persol Insurance Company- Company Overview
11.8.1 Prva Persol Insurance Company- key facts
12 Business Environment and Country Risk
12.1 Business Confidence
12.1.1 Market capitalization trend - Ljublja Stock Exchange, Slovenia
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$)
12.2.11 Mining, manufacturing and utilities at current prices, as percentage of GDP
12.2.12 Construction net output at current prices, (US$)
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 Merchandise exports growth
12.2.18 Merchandise imports growth
12.2.19 Annual average exchange rate EUR-US$
12.3 Infrastructure
12.3.1 Commercial vehicles exports - total value
12.3.2 Commercial vehicles imports - 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 (US$)
12.5.2 Household consumption expenditure (US$)
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: Slovenian Insurance - Overall Written Premium by Segment (EUR Million), 2008-2012
Table 3: Slovenian Insurance - Overall Written Premium by Segment (US$ Million), 2008-2012
Table 4: Slovenian Insurance - Overall Written Premium by Segment (EUR Million), 2012-2017
Table 5: Slovenian Insurance - Overall Written Premium by Segment (US$ Million), 2012-2017
Table 6: Slovenian Insurance - Segmentation (% Share), 2008-2017
Table 7: Slovenian Persol Accident and Health Insurance - Written Premium by Category (EUR Million), 2008-2012
Table 8: Slovenian Persol Accident and Health Insurance - Written Premium by Category (US$ Million), 2008-2012
Table 9: Slovenian Persol Accident and Health Insurance - Written Premium by Category (EUR Million), 2012-2017
Table 10: Slovenian Persol Accident and Health Insurance - Written Premium by Category (US$ Million), 2012-2017
Table 11: Slovenian Persol Accident and Health Insurance - Earned Premium (EUR Million), 2008-2012
Table 12: Slovenian Persol Accident and Health Insurance - Earned Premium (EUR Million), 2012-2017
Table 13: Slovenian Persol Accident and Health Insurance - Paid Claims by Category (EUR Million), 2008-2012
Table 14: Slovenian Persol Accident and Health Insurance - Paid Claims by Category (US$ Million), 2008-2012
Table 15: Slovenian Persol Accident and Health Insurance - Paid Claims by Category (EUR Million), 2012-2017
Table 16: Slovenian Persol Accident and Health Insurance - Paid Claims by Category (US$ Million), 2012-2017
Table 17: Slovenian Persol Accident and Health Insurance - Incurred Loss by Category (EUR Million), 2008-2012
Table 18: Slovenian Persol Accident and Health Insurance - Incurred Loss by Category (US$ Million), 2008-2012
Table 19: Slovenian Persol Accident and Health Insurance - Incurred Loss by Category (EUR Million), 2012-2017
Table 20: Slovenian Persol Accident and Health Insurance - Incurred Loss by Category (US$ Million), 2012-2017
Table 21: Slovenian Persol Accident and Health Insurance - Loss Ratio (%), 2008-2012
Table 22: Slovenian Persol Accident and Health Insurance - Loss Ratio (%), 2012-2017
Table 23: Slovenian Persol Accident and Health Insurance - Commission and Expenses (EUR Million), 2008-2012
Table 24: Slovenian Persol Accident and Health Insurance - Commission and Expenses (EUR Million), 2012-2017
Table 25: Slovenian Persol Accident and Health Insurance - Combined Ratio (%), 2008-2012
Table 26: Slovenian Persol Accident and Health Insurance - Combined Ratio (%), 2012-2017
Table 27: Slovenian Persol Accident and Health Insurance - Frauds and Crimes (EUR Million), 2008-2012
Table 28: Slovenian Persol Accident and Health Insurance - Frauds and Crimes (EUR Million), 2012-2017
Table 29: Slovenian Persol Accident and Health Insurance - Total Assets (EUR Million), 2008-2012
Table 30: Slovenian Persol Accident and Health Insurance - Total Assets (EUR Million), 2012-2017
Table 31: Slovenian Persol Accident and Health Insurance - Total Investment Income (EUR Million), 2008-2012
Table 32: Slovenian Persol Accident and Health Insurance - Total Investment Income (EUR Million), 2012-2017
Table 33: Slovenian Persol Accident and Health Insurance - Retentions (EUR Million), 2008-2012
Table 34: Slovenian Persol Accident and Health Insurance - Retentions (EUR Million), 2012-2017
Table 35: Slovenian Persol Accident Insurance - Number of Policies Sold (Million), 2008-2012
Table 36: Slovenian Persol Accident Insurance - Number of Policies Sold (Million), 2012-2017
Table 37: Slovenian Persol Accident Insurance - Written Premium (EUR Million), 2008-2012
Table 38: Slovenian Persol Accident Insurance - Written Premium (EUR Million), 2012-2017
Table 39: Slovenian Persol Accident Insurance - Loss Ratio (%), 2008-2012
Table 40: Slovenian Persol Accident Insurance - Loss Ratio (%), 2012-2017
Table 41: Slovenian Travel Insurance - Number of Policies Sold (Million), 2008-2012
Table 42: Slovenian Travel Insurance - Number of Policies Sold (Million), 2012-2017
Table 43: Slovenian Travel Insurance - Written Premium (EUR Million), 2008-2012
Table 44: Slovenian Travel Insurance - Written Premium (EUR Million), 2012-2017
Table 45: Slovenian Travel Insurance - Loss Ratio (%), 2008-2012
Table 46: Slovenian Travel Insurance - Loss Ratio (%), 2012-2017
Table 47: Slovenian Health Insurance - Number of Policies Sold (Million), 2008-2012
Table 48: Slovenian Health Insurance - Number of Policies Sold (Million), 2012-2017
Table 49: Slovenian Health Insurance - Written Premium (EUR Million), 2008-2012
Table 50: Slovenian Health Insurance - Written Premium (EUR Million), 2012-2017
Table 51: Slovenian Health Insurance - Loss Ratio (%), 2008-2012
Table 52: Slovenian Health Insurance - Loss Ratio (%), 2012-2017
Table 53: Slovenian Persol Accident and Health Insurance - Direct Marketing Commission Paid (EUR Million), 2008-2012
Table 54: Slovenian Persol Accident and Health Insurance - Direct Marketing Commission Paid (EUR Million), 2012-2017
Table 55: Slovenian Persol Accident and Health Insurance - Written Premium Through Direct Marketing (EUR Million), 2008-2012
Table 56: Slovenian Persol Accident and Health Insurance - Written Premium Through Direct Marketing (EUR Million), 2012-2017
Table 57: Slovenian Persol Accident and Health Insurance - Policies Sold Through Direct Marketing (Million), 2008-2012
Table 58: Slovenian Persol Accident and Health Insurance - Policies Sold Through Direct Marketing (Million), 2012-2017
Table 59: Slovenian Persol Accident and Health Insurance - Number of Direct Marketing Distributors, 2008-2012
Table 60: Slovenian Persol Accident and Health Insurance - Number of Direct Marketing Distributors, 2012-2017
Table 61: Slovenian Persol Accident and Health Insurance - Bancassurance Commission Paid (EUR Million), 2008-2012
Table 62: Slovenian Persol Accident and Health Insurance - Bancassurance Commission Paid (EUR Million), 2012-2017
Table 63: Slovenian Persol Accident and Health Insurance - Written Premium Through Bancassurance (EUR Million), 2008-2012
Table 64: Slovenian Persol Accident and Health Insurance - Written Premium Through Bancassurance (EUR Million), 2012-2017
Table 65: Slovenian Persol Accident and Health Insurance - Policies Sold Through Bancassurance (Thousand), 2008-2012
Table 66: Slovenian Persol Accident and Health Insurance - Policies Sold Through Bancassurance (Thousand), 2012-2017
Table 67: Slovenian Persol Accident and Health Insurance - Number of Bancassurance Distributors, 2008-2012
Table 68: Slovenian Persol Accident and Health Insurance - Number of Bancassurance Distributors, 2012-2017
Table 69: Slovenian Persol Accident and Health Insurance - Commission Paid to Agencies (EUR Million), 2008-2012
Table 70: Slovenian Persol Accident and Health Insurance - Commission Paid to Agencies (EUR Million), 2012-2017
Table 71: Slovenian Persol Accident and Health Insurance - Written Premium Through Agencies (EUR Million), 2008-2012
Table 72: Slovenian Persol Accident and Health Insurance - Written Premium Through Agencies (EUR Million), 2012-2017
Table 73: Slovenian Persol Accident and Health Insurance - Policies Sold Through Agencies (Million), 2008-2012
Table 74: Slovenian Persol Accident and Health Insurance - Policies Sold Through Agencies (Million), 2012-2017
Table 75: Slovenian Persol Accident and Health Insurance - Number of Agencies, 2008-2012
Table 76: Slovenian Persol Accident and Health Insurance - Number of Agencies, 2012-2017
Table 77: Slovenian Persol Accident and Health Insurance - E-Commerce Commission Paid (EUR Million), 2008-2012
Table 78: Slovenian Persol Accident and Health Insurance - E-Commerce Commission Paid (EUR Million), 2012-2017
Table 79: Slovenian Persol Accident and Health Insurance - Written Premium Through E-Commerce (EUR Million), 2008-2012
Table 80: Slovenian Persol Accident and Health Insurance - Written Premium Through E-Commerce (EUR Million), 2012-2017
Table 81: Slovenian Persol Accident and Health Insurance - Policies Sold Through E-Commerce (Thousand), 2008-2012
Table 82: Slovenian Persol Accident and Health Insurance - Policies Sold Through E-Commerce (Thousand), 2012-2017
Table 83: Slovenian Persol Accident and Health Insurance - Number of E-Commerce Distributors, 2008-2012
Table 84: Slovenian Persol Accident and Health Insurance - Number of E-Commerce Distributors, 2012-2017
Table 85: Slovenian Persol Accident and Health Insurance - Commission Paid to Brokers (EUR Million), 2008-2012
Table 86: Slovenian Persol Accident and Health Insurance - Commission Paid to Brokers (EUR Million), 2012-2017
Table 87: Slovenian Persol Accident and Health Insurance - Written Premium Through Brokers (EUR Million), 2008-2012
Table 88: Slovenian Persol Accident and Health Insurance - Written Premium Through Brokers (EUR Million), 2012-2017
Table 89: Slovenian Persol Accident and Health Insurance - Policies Sold Through Brokers (Thousand), 2008-2012
Table 90: Slovenian Persol Accident and Health Insurance - Policies Sold Through Brokers (Thousand), 2012-2017
Table 91: Slovenian Persol Accident and Health Insurance - Number of Brokers, 2008-2012
Table 92: Slovenian Persol Accident and Health Insurance - Number of Brokers, 2012-2017
Table 93: Slovenian Persol Accident and Health Insurance - Commission Paid to Other Channels (EUR Million), 2008-2012
Table 94: Slovenian Persol Accident and Health Insurance - Commission Paid to Other Channels (EUR Million), 2012-2017
Table 95: Slovenian Persol Accident and Health Insurance - Written Premium Through Other Channels (EUR Million), 2008-2012
Table 96: Slovenian Persol Accident and Health Insurance - Written Premium Through Other Channels (EUR Million), 2012-2017
Table 97: Slovenian Persol Accident and Health Insurance - Policies Sold Through Other Channels (Thousand), 2008-2012
Table 98: Slovenian Persol Accident and Health Insurance - Policies Sold Through Other Channels (Thousand), 2012-2017
Table 99: Slovenian Persol Accident and Health Insurance - Number of Distributors in Other Channels, 2008-2012
Table 100: Slovenian Persol Accident and Health Insurance - Number of Distributors in Other Channels, 2012-2017
Table 101: Reinsurance in Slovenia by Category (EUR Million), 2008-2012
Table 102: Reinsurance in Slovenia by Category (US$ Million), 2008-2012
Table 103: Reinsurance in Slovenia by Category (EUR Million), 2012-2017
Table 104: Reinsurance in Slovenia by Category (US$ Million), 2012-2017
Table 105: Slovenian Premium Ceded to Reinsurance by Type of Insurance (EUR Million), 2008-2012
Table 106: Slovenian Premium Ceded to Reinsurance by Type of Insurance (US$ Million), 2008-2012
Table 107: Slovenian Premium Ceded to Reinsurance by Type of Insurance (EUR Million), 2012-2017
Table 108: Slovenian Premium Ceded to Reinsurance by Type of Insurance (US$ Million), 2012-2017
Table 109: Slovenian Persol Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Table 110: Slovenian Persol Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2012-2017
Table 111: Slovenia - Life Insurance Regulatory Framework
Table 112: Slovenia - Property Insurance Regulatory Framework
Table 113: Slovenia - Motor Insurance Regulatory Framework
Table 114: Slovenia - Liability Limits for Third-Party Death and Physical Injury
Table 115: Slovenia - Liability Limits for Other Claims
Table 116: Slovenia - Corporate Tax Rates for the Fincial Year 2012-2013
Table 117: Slovenian Persol Accident and Health Insurance - Segment Shares, 2012
Table 118: Vzajem, Key Facts
Table 119: Vzajem, Key Fincials (LTL Million)
Table 120: Adriatic Slovenica, Key Facts
Table 121: Adriatic Slovenica, Key Fincials (EUR Million)
Table 122: Triglav Health Insurance Company, Key Facts
Table 123: Triglav Health Insurance Company, Key Fincials (EUR Million)
Table 124: Merkur Insurance Company, Key Facts
Table 125: Generali Insurance Company, Key Facts
Table 126: Prva Persol Insurance Company, Key Facts