Life and non-life insurance market in Greece to grow by USD 1,337.04 million from 2022 to 2027; The digitalization of the insurance industry drives growth – Technavio

NEW YORK, Aug. 15, 2023 /PRNewswire/ -- The life and non-life insurance market in Greece size is estimated to increase by USD 1,337.04 million from 2022 to 2027, with a CAGR of 4.82%, according to a recent market study by Technavio. This report also offers a 5-year historical (2017-2021) data projection of market size, segmentation, and region. Discover some insights on market size before buying the full report -Request a sample report

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak. The Bargaining Power of Buyers & Suppliers and the Threat of New Entrants, Rivalry, and Substitutes have also been analyzed and rated between LOW-HIGH to provide a holistic view of market favorability.

Find Technavio's Exclusive Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria

• One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage. 
• Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.
• Furthermore, market adoption rates for all regions have been covered.

The life and non-life insurance market in Greece report also offers information on the criticality of inputs, R&D, CAPEX, technology, and products of vendors listed Below - 

Achmea B.V., Allianz SE, AXA Group, Fairfax Financial Holdings Ltd., and Generali Hellas Insurance Co. S.A.

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Life and non-life insurance market in Greece - Segmentation Analysis

This life and non-life insurance market in Greece report extensively covers market segmentation by type (life insurance and non-life insurance) and distribution channel (agency, direct, and banks).

• The life insurance segment will be significant during the forecast period. There has been an increase in demand for life insurance policies over the years. This is because there is an increasing awareness about securing one's financial future, and more individuals are turning toward life insurance to protect themselves and their families. Furthermore, some of the key benefits of this protection include paying off mortgages, financing children's education, and covering other expenses that can burden a family after the primary earner's death. Hence, such factors drive the life insurance segment of the life and non-life insurance market in Greece during the forecast period.

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Life and non-life insurance market in Greece - Market Dynamics

The digitalization of the insurance industry drives the life and non-life insurance market in Greece. Owing to digitalization has transformed the way customers interact with insurance companies, making it easier for them to access and purchase insurance policies. For instance, Insurtech has made it easier for customers to compare insurance policies and choose the one that best suits their needs as these companies disrupt traditional distribution channels by offering insurance products directly to customers. Hence, such factors boost the life and non-life insurance market in Greece during the forecast period. 

The integration of IT and analytic solutions is an emerging trend in the life and non-life insurance market in Greece. The vendors in the life and non-life insurance market in Greece are maximizing sales by integrating IT and analytic solutions. It helps in propagating effective marketing strategies and underwriting services are some of the key advantages of analytic solutions. Furthermore, data analytic tools are widely used by life and non-life insurance vendors to gain insights into customer data and maintain a competitive edge. Hence, such trends fuel the life and non-life insurance market in Greece during the forecast period.

Data privacy and security concerns challenge the growth of the life and non-life insurance market in Greece. The insurance industry has started depending more on technology. The technology includes processing systems, online data, and electronic communication, for easier operation and business management. However, owing to the advancement in technology, it also makes data vulnerable to cyber theft and hacking. Hence, such challenges impede the life and non-life insurance market in Greece during the forecast period.

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What are the key data covered in this life and non-life insurance market in Greece report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the life and non-life insurance market in Greece between 2023 and 2027
• Precise estimation of the size of the life and non-life insurance market in Greece and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the life and non-life insurance market across Greece
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of the life and non-life insurance market in Greece vendors

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Table of Contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Country Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 06: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 07: Parent market
• Exhibit 08: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 09: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 10: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 11: Chart on Greece - Market size and forecast 2022-2027 (USD million)
• Exhibit 12: Data Table on Greece - Market size and forecast 2022-2027 (USD million)
• Exhibit 13: Chart on Greece: Year-over-year growth 2022-2027 (%)
• Exhibit 14: Data Table on Greece: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Life and non-life insurance market in Greece 2017 - 2021 
• Exhibit 15: Historic Market Size – Data Table on life and non-life insurance market in Greece 2017 - 2021 (USD million)

• 4.2 Type Segment Analysis 2017 - 2021 
• Exhibit 16: Historic Market Size – Type Segment 2017 - 2021 (USD million)

• 4.3 Distribution channel Segment Analysis 2017 - 2021 
• Exhibit 17: Historic Market Size – Distribution channel Segment 2017 - 2021 (USD million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 18: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 21: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 22: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 23: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 24: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Type

• 6.1 Market segments
• Exhibit 25: Chart on Type - Market share 2022-2027 (%)
• Exhibit 26: Data Table on Type - Market share 2022-2027 (%)

• 6.2 Comparison by Type
• Exhibit 27: Chart on Comparison by Type
• Exhibit 28: Data Table on Comparison by Type

• 6.3 Life insurance - Market size and forecast 2022-2027 
• Exhibit 29: Chart on Life insurance - Market size and forecast 2022-2027 (USD million)
• Exhibit 30: Data Table on Life insurance - Market size and forecast 2022-2027 (USD million)
• Exhibit 31: Chart on Life insurance - Year-over-year growth 2022-2027 (%)
• Exhibit 32: Data Table on Life insurance - Year-over-year growth 2022-2027 (%)

• 6.4 Non-life insurance - Market size and forecast 2022-2027 
• Exhibit 33: Chart on Non-life insurance - Market size and forecast 2022-2027 (USD million)
• Exhibit 34: Data Table on Non-life insurance - Market size and forecast 2022-2027 (USD million)
• Exhibit 35: Chart on Non-life insurance - Year-over-year growth 2022-2027 (%)
• Exhibit 36: Data Table on Non-life insurance - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Type 
• Exhibit 37: Market opportunity by Type (USD million)
• Exhibit 38: Data Table on Market opportunity by Type (USD million)

7 Market Segmentation by Distribution Channel

• 7.1 Market segments
• Exhibit 39: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 40: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 7.2 Comparison by Distribution Channel 
• Exhibit 41: Chart on Comparison by Distribution Channel
• Exhibit 42: Data Table on Comparison by Distribution Channel

• 7.3 Agency - Market size and forecast 2022-2027 
• Exhibit 43: Chart on Agency - Market size and forecast 2022-2027 (USD million)
• Exhibit 44: Data Table on Agency - Market size and forecast 2022-2027 (USD million)
• Exhibit 45: Chart on Agency - Year-over-year growth 2022-2027 (%)
• Exhibit 46: Data Table on Agency - Year-over-year growth 2022-2027 (%)

• 7.4 Direct - Market size and forecast 2022-2027 
• Exhibit 47: Chart on Direct - Market size and forecast 2022-2027 (USD million)
• Exhibit 48: Data Table on Direct - Market size and forecast 2022-2027 (USD million)
• Exhibit 49: Chart on Direct - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Direct - Year-over-year growth 2022-2027 (%)

• 7.5 Banks - Market size and forecast 2022-2027 
• Exhibit 51: Chart on Banks - Market size and forecast 2022-2027 (USD million)
• Exhibit 52: Data Table on Banks - Market size and forecast 2022-2027 (USD million)
• Exhibit 53: Chart on Banks - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Banks - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Distribution Channel 
• Exhibit 55: Market opportunity by Distribution Channel (USD million)
• Exhibit 56: Data Table on Market opportunity by Distribution Channel (USD million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 57: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Drivers, Challenges, and Trends

• 9.1 Market drivers

• 9.2 Market challenges

• 9.3 Impact of drivers and challenges 
• Exhibit 58: Impact of drivers and challenges in 2022 and 2027

• 9.4 Market trends

10 Vendor Landscape

• 10.1 Overview

• 10.2 Vendor landscape
• Exhibit 59: Overview on Criticality of inputs and Factors of differentiation

• 10.3 Landscape disruption
• Exhibit 60: Overview on factors of disruption

• 10.4 Industry risks
• Exhibit 61: Impact of key risks on business

11 Vendor Analysis

• 11.1 Vendors covered
• Exhibit 62: Vendors covered

• 11.2 Market positioning of vendors 
• Exhibit 63: Matrix on vendor position and classification

• 11.3 Achmea B.V.
• Exhibit 64: Achmea B.V. - Overview
• Exhibit 65: Achmea B.V. - Product / Service
• Exhibit 66: Achmea B.V. - Key offerings

• 11.4 Allianz SE
• Exhibit 67: Allianz SE - Overview
• Exhibit 68: Allianz SE - Business segments
• Exhibit 69: Allianz SE - Key news
• Exhibit 70: Allianz SE - Key offerings
• Exhibit 71: Allianz SE - Segment focus

• 11.5 AXA Group
• Exhibit 72: AXA Group - Overview
• Exhibit 73: AXA Group - Business segments
• Exhibit 74: AXA Group - Key offerings
• Exhibit 75: AXA Group - Segment focus

• 11.6 Fairfax Financial Holdings Ltd. 
• Exhibit 76: Fairfax Financial Holdings Ltd. - Overview
• Exhibit 77: Fairfax Financial Holdings Ltd. - Business segments
• Exhibit 78: Fairfax Financial Holdings Ltd. - Key offerings
• Exhibit 79: Fairfax Financial Holdings Ltd. - Segment focus

• 11.7 Generali Hellas Insurance Co. S.A. 
• Exhibit 80: Generali Hellas Insurance Co. S.A. - Overview
• Exhibit 81: Generali Hellas Insurance Co. S.A. - Product / Service
• Exhibit 82: Generali Hellas Insurance Co. S.A. - Key offerings

12 Appendix

• 12.1 Scope of the report

• 12.2 Inclusions and exclusions checklist 
• Exhibit 83: Inclusions checklist
• Exhibit 84: Exclusions checklist

• 12.3 Currency conversion rates for USUSD 
• Exhibit 85: Currency conversion rates for USUSD

• 12.4 Research methodology
• Exhibit 86: Research methodology
• Exhibit 87: Validation techniques employed for market sizing
• Exhibit 88: Information sources

• 12.5 List of abbreviations 
• Exhibit 89: List of abbreviations

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