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

Published: Dec, 2014 | Pages: 215 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)

Synopsis
The US personal accident and health insurance segment was the second largest in the country, accounting for 35.3% of the industry's gross written premium in 2013. The segment recorded a compound annual growth rate (CAGR) of 3.5% during the review period (2009?2013), the highest growth of all the industry's segments. This growth can be attributed to rising per capita healthcare expenditure, a rapidly growing aging population, and growing domestic demand for healthcare products. It was further supported by the country's insufficient public healthcare programs, including Medicare and Medicaid. Such factors, coupled with new healthcare reforms, are projected to enable the segment to record a CAGR of 2.3% over the forecast period (2013-2018).

Summary
The report provides in-depth market analysis, information and insights into the US personal accident and health insurance segment, including:

The US personal accident and health insurance segment's growth prospects by insurance category

Key trends and drivers for the personal accident and health insurance segment

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

The detailed competitive landscape in the personal accident and health insurance segment in the US

Regulatory policies of the US personal accident and health insurance segment

Analysis of various consumer segments in US personal accident and health insurance

Key developments in the US personal accident and health insurance segment

New products launched by US personal accident and health insurers

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

It provides historical values for the US personal accident and health insurance segment for the report's 2009-2013 review period, and projected figures for the 2013-2018 forecast period.

It offers a detailed analysis of the key categories in the US 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 the US.

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

Reason To Buy
Make strategic business decisions using in-depth historic and forecast market data related to US personal accident and health insurance segment and each category within it.

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

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

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

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

Key Highlights
Personal accident and health insurance accounted for 35.3% of the industry's gross written premium in 2013.

The US personal accident and health segment registered the industry's highest review-period CAGR of 3.5% in terms of gross written premiums.

The segment is highly competitive, and firms face competition from other insurance companies, health maintenance organizations (HMOs) and third-party administrators (TPAs).

Health insurance dominated the segment in 2013, with 97.9% of the gross written premium.

Healthcare expenditure accounted for around 16.9% of the country's GDP in 2012, higher than the OECD average of 9.3% (OECD health insurance statistics 2014).

The growth in the personal accident and health insurance segment can be attributed to various factors such as rising healthcare expenditure, decreasing unemployment, the growing aging population and the implementation of ObamaCare reforms.

The Healthcare and Education Reconciliation Act of 2010 - an amendment of The Patient Protection and Affordable Care Act (PPACA) - came into force in January 2014.

The country's personal accident and health insurance segment is expected to grow at a CAGR of 2.3% over the forecast period.

 
Table of Contents
1 Key Facts and Events
2 Executive Summary
3 Introduction
3.1 What is this Report About?
3.2 Definitions
3.3 Methodology
4 US Insurance Industry Attractiveness
4.1 Insurance Industry Size, 2009-2018
5 Personal Accident and Health Insurance Outlook
5.1 Consumer Segmentation
5.2 Key Drivers
5.3 Key Trends
5.4 Challenges
5.5 Personal Accident and Health Insurance Growth Prospects by Category
5.5.1 Personal accident insurance
5.5.2 Travel insurance
5.5.3 Health insurance
5.5.4 Non-life health insurance
5.5.5 Life health insurance
6 Analysis by Distribution Channel
6.1 Direct Marketing
6.2 Bancassurance
6.3 Agencies
6.4 E-commerce
6.5 Brokers
6.6 Other Channels
7 Regulatory Policies
8 Competitive Landscape and Strategic Insights
8.1 Overview
8.2 Leading Companies in the US Personal Accident and Health Insurance Segment
8.3 Leading Personal Accident and Health Insurers - New Product Launches
8.4 Leading Personal Accident and Health Insurers - Key Developments
8.5 UnitedHealth Group Inc. - Company Overview
8.5.1 UnitedHealth Group Inc. - key facts
8.5.2 UnitedHealth Group Inc. - key financials
8.6 Aetna Inc. - Company Overview
8.6.1 Aetna Inc. - key facts
8.7 WellPoint Inc. - Company Overview
8.7.1 WellPoint Inc. - key facts
8.8 Healthcare Service Corporation (HCSC) - Company Overview
8.8.1 Healthcare Service Corporation (HCSC) - key facts
8.9 Humana Inc. - Company Overview
8.9.1 Humana Inc. - key facts
8.1 Highmark Inc. - Company Overview
8.10.1 Highmark Inc. - key facts
8.11 Aflac Inc. - Company Overview
8.11.1 The Progressive Corporation - key facts
8.12 Cigna Corporation - Company Overview
8.12.1 Cigna Corporation - key facts
8.13 MetLife Inc. - Company Overview
8.13.1 MetLife Inc. - key facts
9 Appendix -1
9.1 Business Confidence
9.1.1 Market capitalization trend - New York Stock Exchange (NYSE)
9.2 Economic Performance
9.2.1 GDP at constant prices (US$)
9.2.2 GDP per capita at constant prices (US$)
9.2.3 GDP at current prices (US$)
9.2.4 GDP per capita at current prices (US$)
9.2.5 GDP by key sector
9.2.6 Agriculture, hunting, forestry and fishing net output at current prices (US$)
9.2.7 Agriculture, hunting, forestry and fishing net output at current prices as a percentage of GDP
9.2.8 Manufacturing net output at current prices (US$)
9.2.9 Manufacturing net output at current prices as a percentage of GDP
9.2.10 Mining, manufacturing and utilities at current prices (US$)
9.2.11 Mining, manufacturing and utilities at current prices, as percentage of GDP
9.2.12 Construction net output at current prices (US$)
9.2.13 Construction net output at current prices as a percentage of GDP
9.2.14 Inflation rate
9.2.15 Exports as a percentage of GDP
9.2.16 Imports as a percentage of GDP
9.2.17 Merchandise exports growth
9.2.18 Merchandise imports growth
9.3 Infrastructure
9.3.1 Commercial vehicles exports - total value
9.3.2 Commercial vehicles imports - total value
9.3.3 Automotive exports - total value
9.3.4 Automotive imports - total value
9.3.5 Total internet subscribers
9.4 Labor Force
9.4.1 Labor force
9.4.2 Unemployment rate
9.5 Demographics
9.5.1 Household consumption expenditure (US$)
9.5.2 Total population
9.5.3 Urban and rural population
9.5.4 Age distribution of the total population
9.5.5 Life expectancy
10 Appendix - 2
10.1 Methodology
10.2 Contact Timetric
10.3 About Timetric
10.4 Timetric's Services
10.5 Disclaimer


List of Tables
Table 1: US Personal Accident and Health Insurance - Key Facts, 2013
Table 2: Insurance Industry Definitions
Table 3: US Insurance Industry - Gross Written Premium by Segment (US$ Billion), 2009-2013
Table 4: US Insurance Industry - Gross Written Premium by Segment (US$ Billion), 2013-2018
Table 5: US Insurance Industry - Gross Written Premium by Segment (Percentage Share), 2009-2018
Table 6: US Insurance Industry - Direct Written Premium by Segment (US$ Billion), 2009-2013
Table 7: US Insurance Industry - Direct Written Premium by Segment (US$ Billion), 2013-2018
Table 8: US Insurance Industry - Direct Written Premium by Segment (Percentage Share), 2009-2018
Table 9: US Personal Accident and Health Insurance - Gross Written Premium by Category (US$ Billion), 2009-2013
Table 10: US Personal Accident and Health Insurance - Gross Written Premium by Category (US$ Billion), 2013-2018
Table 11: US Personal Accident and Health Insurance - Direct Written Premium by Category (US$ Billion), 2009-2013
Table 12: US Personal Accident and Health Insurance - Direct Written Premium by Category (US$ Billion), 2013-2018
Table 13: US Personal Accident and Health Insurance - Earned Premium (US$ Billion), 2009-2013
Table 14: US Personal Accident and Health Insurance - Earned Premium (US$ Billion), 2013-2018
Table 15: US Personal Accident and Health Insurance - Paid Claims by Category (US$ Billion), 2009-2013
Table 16: US Personal Accident and Health Insurance - Paid Claims by Category (US$ Billion), 2013-2018
Table 17: US Personal Accident and Health Insurance - Incurred Loss by Category (US$ Billion), 2009-2013
Table 18: US Personal Accident and Health Insurance - Incurred Loss by Category (US$ Billion), 2013-2018
Table 19: US Personal Accident and Health Insurance - Retentions by Category (US$ Billion), 2009-2013
Table 20: US Personal Accident and Health Insurance - Retentions by Category (US$ Billion), 2013-2018
Table 21: US Personal Accident and Health Insurance - Loss Ratio (%), 2009-2013
Table 22: US Personal Accident and Health Insurance - Loss Ratio (%), 2013-2018
Table 23: US Personal Accident and Health Insurance - Commission and Expenses (US$ Billion), 2009-2013
Table 24: US Personal Accident and Health Insurance - Commission and Expenses (US$ Billion), 2013-2018
Table 25: US Personal Accident and Health Insurance - Combined Ratio (%), 2009-2013
Table 26: US Personal Accident and Health Insurance - Combined Ratio (%), 2013-2018
Table 27: US Personal Accident and Health Insurance - Frauds and Crimes (US$ Billion), 2009-2013
Table 28: US Personal Accident and Health Insurance - Frauds and Crimes (US$ Billion), 2013-2018
Table 29: US Personal Accident and Health Insurance - Total Assets (US$ Billion), 2009-2013
Table 30: US Personal Accident and Health Insurance - Total Assets (US$ Billion), 2013-2018
Table 31: US Personal Accident and Health Insurance - Total Investment Income (US$ Billion), 2009-2013
Table 32: US Personal Accident and Health Insurance - Total Investment Income (US$ Billion), 2013-2018
Table 33: US Personal Accident and Health Insurance - Retentions (US$ Billion), 2009-2013
Table 34: US Personal Accident and Health Insurance - Retentions (US$ Billion), 2013-2018
Table 35: US Personal Accident Insurance - Number of Policies Sold (Thousand), 2009-2013
Table 36: US Personal Accident Insurance - Number of Policies Sold (Thousand), 2013-2018
Table 37: US Personal Accident Insurance - Gross Written Premium (US$ Billion), 2009-2013
Table 38: US Personal Accident Insurance - Gross Written Premium (US$ Billion), 2013-2018
Table 39: US Personal Accident Insurance - Loss Ratio (%), 2009-2013
Table 40: US Personal Accident Insurance - Loss Ratio (%), 2013-2018
Table 41: US Travel Insurance - Number of Policies Sold (Thousand), 2009-2013
Table 42: US Travel Insurance - Number of Policies Sold (Thousand), 2013-2018
Table 43: US Travel Insurance - Gross Written Premium (US$ Billion), 2009-2013
Table 44: US Travel Insurance - Gross Written Premium (US$ Billion), 2013-2018
Table 45: US Travel Insurance - Loss Ratio (%), 2009-2013
Table 46: US Travel Insurance - Loss Ratio (%), 2013-2018
Table 47: US Health Insurance - Gross Written Premium by Sub-Category (US$ Billion), 2009-2013
Table 48: US Health Insurance - Gross Written Premium by Sub-Category (US$ Billion), 2013-2018
Table 49: US Non-Life Health Insurance - Number of Policies Sold (Million), 2009-2013
Table 50: US Non-Life Health Insurance - Number of Policies Sold (Million), 2013-2018
Table 51: US Non-Life Health Insurance - Gross Written Premium (US$ Billion), 2009-2013
Table 52: US Non-Life Health Insurance - Gross Written Premium (US$ Billion), 2013-2018
Table 53: US Non-Life Health Insurance - Direct Written Premium (US$ Billion), 2009-2013
Table 54: US Non-Life Health Insurance - Direct Written Premium (US$ Billion), 2013-2018
Table 55: US Non-Life Health Insurance - Loss Ratio (%), 2009-2013
Table 56: US Non-Life Health Insurance - Loss Ratio (%), 2013-2018
Table 57: US Non-Life Health Insurance - Retentions (US$ Billion), 2009-2013
Table 58: US Non-Life Health Insurance - Retentions (US$ Billion), 2013-2018
Table 59: US Life Health Insurance - Number of Policies Sold (Thousand), 2009-2013
Table 60: US Life Health Insurance - Number of Policies Sold (Thousand), 2013-2018
Table 61: US Life Health Insurance - Gross Written Premium (US$ Billion), 2009-2013
Table 62: US Life Health Insurance - Gross Written Premium (US$ Billion), 2013-2018
Table 63: US Life Health Insurance - Direct Written Premium (US$ Billion), 2009-2013
Table 64: US Life Health Insurance - Direct Written Premium (US$ Billion), 2013-2018
Table 65: US Life Health Insurance - Loss Ratio (%), 2009-2013
Table 66: US Life Health Insurance - Loss Ratio (%), 2013-2018
Table 67: US Life Health Insurance - Retentions (US$ Billion), 2009-2013
Table 68: US Life Health Insurance - Retentions (US$ Billion), 2013-2018
Table 69: US Personal Accident and Health Insurance - Direct Marketing Commission Paid (US$ Billion), 2009-2013
Table 70: US Personal Accident and Health Insurance - Direct Marketing Commission Paid (US$ Billion), 2013-2018
Table 71: US Personal Accident and Health Insurance - Gross Written Premium (US$ Billion), 2009-2013
Table 72: US Personal Accident and Health Insurance - Gross Written Premium (US$ Billion), 2013-2018
Table 73: US Personal Accident and Health Insurance - Policies Sold Through Direct Marketing (Thousand), 2009-2013
Table 74: US Personal Accident and Health Insurance - Policies Sold Through Direct Marketing (Thousand), 2013-2018
Table 75: US Personal Accident and Health Insurance - Number of Direct Marketing Distributors, 2009-2013
Table 76: US Personal Accident and Health Insurance - Number of Direct Marketing Distributors, 2013-2018
Table 77: US Personal Accident and Health Insurance - Bancassurance Commission Paid (US$ Billion), 2009-2013
Table 78: US Personal Accident and Health Insurance - Bancassurance Commission Paid (US$ Billion), 2013-2018
Table 79: US Personal Accident and Health Insurance - Gross Written Premium (US$ Billion), 2009-2013
Table 80: US Personal Accident and Health Insurance - Gross Written Premium (US$ Billion), 2013-2018
Table 81: US Personal Accident and Health Insurance - Policies Sold Through Bancassurance (Thousand), 2009-2013
Table 82: US Personal Accident and Health Insurance - Policies Sold Through Bancassurance (Thousand), 2013-2018
Table 83: US Personal Accident and Health Insurance - Number of Bancassurance Distributors, 2009-2013
Table 84: US Personal Accident and Health Insurance - Number of Bancassurance Distributors, 2013-2018
Table 85: US Personal Accident and Health Insurance - Commission Paid to Agencies (US$ Billion), 2009-2013
Table 86: US Personal Accident and Health Insurance - Commission Paid to Agencies (US$ Billion), 2013-2018
Table 87: US Personal Accident and Health Insurance - Gross Written Premium (US$ Billion), 2009-2013
Table 88: US Personal Accident and Health Insurance - Gross Written Premium (US$ Billion), 2013-2018
Table 89: US Personal Accident and Health Insurance - Policies Sold Through Agencies (Million), 2009-2013
Table 90: US Personal Accident and Health Insurance - Policies Sold Through Agencies (Million), 2013-2018
Table 91: US Personal Accident and Health Insurance - Number of Agencies, 2009-2013
Table 92: US Personal Accident and Health Insurance - Number of Agencies, 2013-2018
Table 93: US Personal Accident and Health Insurance - E-Commerce Commission Paid (US$ Million), 2009-2013
Table 94: US Personal Accident and Health Insurance - E-Commerce Commission Paid (US$ Million), 2013-2018
Table 95: US Personal Accident and Health Insurance - Gross Written Premium (US$ Billion), 2009-2013
Table 96: US Personal Accident and Health Insurance - Gross Written Premium (US$ Billion), 2013-2018
Table 97: US Personal Accident and Health Insurance - Policies Sold Through E-Commerce (Thousand), 2009-2013
Table 98: US Personal Accident and Health Insurance - Policies Sold Through E-Commerce (Thousand), 2013-2018
Table 99: US Personal Accident and Health Insurance - Number of E-Commerce Distributors, 2009-2013
Table 100: US Personal Accident and Health Insurance - Number of E-Commerce Distributors, 2013-2018
Table 101: US Personal Accident and Health Insurance - Commission Paid to Brokers (US$ Billion), 2009-2013
Table 102: US Personal Accident and Health Insurance - Commission Paid to Brokers (US$ Billion), 2013-2018
Table 103: US Personal Accident and Health Insurance - Gross Written Premium (US$ Billion), 2009-2013
Table 104: US Personal Accident and Health Insurance - Gross Written Premium (US$ Billion), 2013-2018
Table 105: US Personal Accident and Health Insurance - Policies Sold Through Brokers (Million), 2009-2013
Table 106: US Personal Accident and Health Insurance - Policies Sold Through Brokers (Million), 2013-2018
Table 107: US Personal Accident and Health Insurance - Number of Brokers, 2009-2013
Table 108: US Personal Accident and Health Insurance - Number of Brokers, 2013-2018
Table 109: US Personal Accident and Health Insurance - Commission Paid to Other Channels (US$ Million), 2009-2013
Table 110: US Personal Accident and Health Insurance - Commission Paid to Other Channels (US$ Million), 2013-2018
Table 111: US Personal Accident and Health Insurance - Gross Written Premium (US$ Billion), 2009-2013
Table 112: US Personal Accident and Health Insurance - Gross Written Premium (US$ Billion), 2013-2018
Table 113: US Personal Accident and Health Insurance - Policies Sold Through Other Channels (Thousand), 2009-2013
Table 114: US Personal Accident and Health Insurance - Policies Sold Through Other Channels (Thousand), 2013-2018
Table 115: US Personal Accident and Health Insurance - Number of Distributors in Other Channels, 2009-2013
Table 116: US Personal Accident and Health Insurance - Number of Distributors in Other Channels, 2013-2018
Table 117: List of Key Insurers in the US Personal Accident and Health Insurance Segment, 2013
Table 118: UnitedHealth Group Inc., Key Facts
Table 119: UnitedHealth Group Inc., Key Financials (US$ Million), 2009-2013
Table 120: Aetna Inc., Key Facts
Table 121: WellPoint Inc., Key Facts
Table 122: Healthcare Service Corporation (HCSC), Key Facts
Table 123: Humana Inc., Key Facts
Table 124: American Home Assurance Company, Key Facts
Table 125: The Progressive Corporation - Key Facts
Table 126: Cigna Corporation - Key Facts
Table 127: MetLife Inc., Key Facts