The US insurance industry is the biggest insurance market in the world. Despite a number of challenges, the insurance sector in the US is not expected to slow down much in the face of the novel coronavirus pandemic. The COVID-19 and the resulting economic impact have led to a radical shift in consumer needs, expectations, and spending habits. It has also brought about nearly complete virtualization of the insurance industry almost overnight. While the insurance industry in the US adapted quickly to the changes required, insurers are still likely to face many challenges to profitability and growth in the short term. The short-term outlook for the insurance industry in the United States is cautiously optimistic.
With Joe Biden and the Democratic Party winning the 2020 presidential elections, there are believed to be good things slated for the insurance industry, especially the health insurance sector. Biden has stated several times in the past that he is fully committed to expanding the Affordable Care Act, and the new administration looks set to push through changes in this field in the coming months.
Getting past the pandemic, it is expected that the US life and non-life insurance sectors should look forward to a stable growth in 2021 and 2022. In such an optimistic scenario, Aruvian Research analyzes the unprecedented impact of this pandemic on the US insurance industry, and also looks at the performance of the industry in both short-term and long-term.
Aruvian Research’s report Analyzing the Insurance Industry in the US provides an in-depth analysis of the US insurance industry. The report covers the following:
- An industry definition.
- An analysis of the global insurance industry through industry statistics, industry value analysis, and an industry forecast. Data included in the report ranges from 2014 till 2025.
- An analysis of the insurance industry in North America, with a focus on both the life insurance and non-life insurance sectors.
- The US insurance industry is analyzed through various industry statistics, analysis of the life insurance and non-life insurance sectors, market value, and industry segmentation. We also analyze the regulatory landscape of the US insurance industry.
- A Porter’s Five Forces Analysis of the US insurance industry looks at the various forces that affect competition within the sector. This Porter’s analysis is helpful to help you adjust your strategy to improve your profit and help you adapt to your competitive environment. We also include a SWOT framework analysis of the US insurance industry.
- The impact of the COVID-19 pandemic on the US insurance industry is looked at in a comprehensive analysis.
- An in-depth forecast of the US insurance sector, with separate analysis of the life insurance segment, non-life insurance segment, health, property, motor, transport, personal accident insurance, and other non-insurance segments.
- Competition in the US insurance industry is also looked at, with both the life and non-life segments players being looked at. Merger and acquisition activity in the industry is also analyzed.
- The major industry players are analyzed through a corporate snapshot, financial analysis, an analysis of their major business segments, and SWOT analysis.