Denmark Life Insurance Industry, Denmark Life Insurance Regulations - Ken Research
The Danish life
insurance industry, which is becoming more competitive, is expected to grow at
a healthy CAGR, thanks to the increased competition and the increased risk
coverage offered by life insurance companies.
In the recent past,
insurance companies in Denmark have faced obstacles due to the European debt
crisis and their own financial problems. Fall in equity and bond prices has led
to losses in the insurance industry. As the life insurance market starts moving
on the road to recovery, Ken Research analysts expect Danish insurance
companies to increase their policy prices and also try to expand their consumer
base. This will lead to improvements in insurance benefits and more insurance
coverage over the forecast period.
Regarding
prospective changes in insurance policies to be offered by Danish customers,
analysts say that the life insurance companies in Denmark are likely to shift
from traditional insurance contracts which provide minimum-return guarantees to
more transparent products, where the insured bears more of the investment risk.
In line with their
focus on marketing, life insurance policies as a savings instrument, Danish
life and group superannuation insurers are now offering such products that are
more transparent than traditional products.
Analysts feel that
the Danish people will be more motivated to invest in life insurance, as there
is improvement in the financial sector and economic recovery in Europe along
with increased disposable income and standard of living. Also the declining inflation
will leave more money in people’s hands thus encouraging them to invest in
savings products and insurance.
The report titled “Life
Insurance in Denmark, Key Trends and Opportunities to 2020” says that,
a pension is the financial backbone of a retired person. In the Danish life
insurance segment too, pensions account for a major share, and analysts believe
that pensions will play a pivotal role in driving the life insurance segment
during the forecast period. The sale of
life insurance policies in Denmark is predominantly through direct marketing
followed by bancassurance and through agencies. Direct marketing is the most
successful platform for creating new markets for life insurance. The next best
medium is bancassurance and selling policies through agencies is at the third
place.
Moving with the
times, Danish life insurance companies are making arrangements to do more and
more transactions online. They have developed mobile apps and other online
portals to directly market their products online.
Overall, the life
insurance industry in Denmark is going to grow at a healthy rate with major
market drivers being financial recovery and increased disposable income in the
hands of consumers.
Major Players in the Demark Life Insurance
Industry
The competitive life
insurance market landscape in Denmark has the following notable players: PFA
Pension, forsikringsaktieselskab Danica Pension, Livsforsikringsaktieselskab
Nordea Liv & Pension, livsforsikringsselskab A/S
PensionDanmarkPensionsforsikringsaktieselskabSampension KP Livsforsikring A/S
IndustriensPensionsforsikring A/S AP Pension LivsforsikringsaktieselskabTopdanmarkLivsforsikring
A/S PenSam Liv forsikringsaktieselskabLrernes Pension, forsikringsaktieselskab
Key topics covered in report
Denmark Life Insurance
Direct Written Premium
Global Life
Insurance Industry Research Report
Denmark Life
Insurance Industry
Denmark Life
Insurance Market Research
Life Insurance
Sector Trends Denmark
Denmark Life
Insurance Regulations
Life Insurance
Companies Denmark
Denmark Insurance
Gross Written Premium
Denmark Insurance
Industry Regulations
For more coverage on the topic visit the link
Related Reports
Contact Us:
Ken Research
Ankur Gupta, Head
Marketing & Communications
+91-9015378249
Post Your Ad Here
Comments