Parametric Insurance Market: Global Opportunity Analysis and Industry Forecast, 2024-2033

WILMINGTON, DE, UNITED STATES, February 7, 2025 /EINPresswire.com/ -- Allied Market Research published a report, titled, "Parametric Insurance Market by Type (Natural Catastrophes Insurance, Specialty Insurance, and Others) and Industry Vertical (Agriculture, Aerospace & Defense, Mining, Construction, Energy & Utilities, Manufacturing, and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the "parametric insurance market" was valued at $18 billion in 2023, and is estimated to reach $34.4 billion by 2033, growing at a CAGR of 6.6% from 2024 to 2033.

🔹 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 & 𝐓𝐎𝐂 : https://www.alliedmarketresearch.com/request-sample/A14966

The parametric insurance market is expected to witness notable growth owing to increasing frequency of natural disasters & climate-related events and faster & more transparent claims processing. Moreover, the surge in adoption of advanced technologies is expected to provide lucrative opportunity for the growth of the market during the forecast period. On the contrary, lack of awareness limits the growth of the parametric insurance market.

𝐓𝐡𝐞 N𝐚𝐭𝐮𝐫𝐚𝐥 𝐂𝐚𝐭𝐚𝐬𝐭𝐫𝐨𝐩𝐡𝐞𝐬 𝐈n𝐬𝐮𝐫𝐚n𝐜𝐞 𝐬𝐞𝐠𝐦𝐞n𝐭 𝐡𝐞𝐥𝐝 𝐭𝐡𝐞 𝐡𝐢𝐠𝐡𝐞𝐬𝐭 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐡𝐚𝐫𝐞 𝐢n 2023.
By type, the natural catastrophes insurance segment dominated the market in 2023, driven by climate change. In addition, advancements in technology and data analytics have enabled more accurate risk assessment and pricing, further boosting the demand for Natural catastrophe insurance and solidifying its dominance in the market. However, the specialty insurance segment nearly one-fourth of the parametric insurance market, this segment is expected to witness the largest of CAGR of 9.4%, due to its ability to address the evolving needs of organizations amidst rising commercial insurance prices and an expanding risk landscape. This segment's growth is driven by the increasing adoption of parametric insurance solutions, which offer rapid and predictable payouts for a wide range of complex and emerging risks

🔹 𝐆𝐫𝐚𝐛 𝐭𝐡𝐞 𝐨𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐲 !!! 𝐋𝐈𝐌𝐈𝐓𝐄𝐃-𝐓𝐈𝐌𝐄 𝐎𝐅𝐅𝐄𝐑 - 𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝟏𝟓 % 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 :- https://bit.ly/3ZkVC3O

𝐓𝐡𝐞 𝐌𝐚n𝐮𝐟𝐚𝐜𝐭𝐮𝐫𝐢n𝐠 𝐬𝐞𝐠𝐦𝐞n𝐭 𝐡𝐞𝐥𝐝 𝐭𝐡𝐞 𝐡𝐢𝐠𝐡𝐞𝐬𝐭 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐡𝐚𝐫𝐞 𝐢n 2023.
By industry vertical, the manufacturing segment accounted for the largest share in 2023. Manufacturing facilities often have significant investments in equipment, infrastructure, and raw materials, making them highly vulnerable to losses from accidents, natural disasters, or equipment failures. In addition, the complexity of global supply chains further amplifies the risk of financial losses, compelling manufacturers to seek comprehensive insurance coverage. However the construction segment accounted for nearly one-third of the parametric insurance market. This segment is expected to witness the largest CAGR of 10.4%. The sector's rapid expansion, driven by increased development, urbanization, and large-scale construction projects, has significantly heightened its exposure to various risks. These risks include project delays, equipment malfunctions, workplace accidents, and liability claim

🔹 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐖𝐞 𝐩𝐫𝐨𝐟𝐟𝐞𝐫 𝐜𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐫𝐞𝐩𝐨𝐫𝐭 𝐚𝐬 𝐩𝐞𝐫 𝐲𝐨𝐮𝐫 𝐫𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭 : https://www.alliedmarketresearch.com/request-for-customization/A14966

𝐓𝐡𝐞 N𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 𝐫𝐞𝐠𝐢𝐨n 𝐡𝐞𝐥𝐝 𝐭𝐡𝐞 𝐡𝐢𝐠𝐡𝐞𝐬𝐭 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐡𝐚𝐫𝐞 𝐢n 2023.
By region, the parametric insurance market was dominated by North America in 2023. This dominance is attributed to the fact that in places such as the U.S. and Canada, parametric insurance has become a more feasible alternative for helping organizations create climate resilience and enhance catastrophe response and recovery. Moreover, insurance companies are increasingly expanding their parametric insurance business to the North American region, resulting in market growth

"𝑻𝒉𝒆 𝒄𝒐𝒏𝒔𝒕𝒓𝒖𝒄𝒕𝒊𝒐𝒏 𝒔𝒆𝒈𝒎𝒆𝒏𝒕 𝒊𝒔 𝒆𝒙𝒑𝒆𝒄𝒕𝒆𝒅 𝒕𝒐 𝒈𝒓𝒐𝒘 𝒂𝒕 𝒕𝒉𝒆 𝒇𝒂𝒔𝒕𝒆𝒔𝒕 𝒓𝒂𝒕𝒆 𝒅𝒖𝒓𝒊𝒏𝒈 𝒕𝒉𝒆 𝒇𝒐𝒓𝒆𝒄𝒂𝒔𝒕 𝒑𝒆𝒓𝒊𝒐𝒅. 𝑻𝒉𝒊𝒔 𝒊𝒔 𝒂𝒕𝒕𝒓𝒊𝒃𝒖𝒕𝒆𝒅 𝒕𝒐 𝒕𝒉𝒆 𝒇𝒂𝒄𝒕 𝒕𝒉𝒂𝒕 𝒕𝒓𝒂𝒅𝒊𝒕𝒊𝒐𝒏𝒂𝒍 𝒑𝒓𝒐𝒑𝒆𝒓𝒕𝒚 𝒅𝒂𝒎𝒂𝒈𝒆 𝒑𝒍𝒂𝒏𝒔 𝒊𝒈𝒏𝒐𝒓𝒆 𝒕𝒉𝒆 𝒊𝒎𝒑𝒂𝒄𝒕 𝒐𝒇 𝒔𝒆𝒂𝒔𝒐𝒏𝒂𝒍 𝒇𝒍𝒖𝒄𝒕𝒖𝒂𝒕𝒊𝒐𝒏𝒔 𝒊𝒏 𝒕𝒆𝒎𝒑𝒆𝒓𝒂𝒕𝒖𝒓𝒆, 𝒓𝒂𝒊𝒏𝒇𝒂𝒍𝒍, 𝒐𝒓 𝒔𝒏𝒐𝒘 𝒐𝒏 𝒂 𝒑𝒐𝒓𝒕𝒇𝒐𝒍𝒊𝒐 𝒐𝒇 𝒄𝒐𝒏𝒔𝒕𝒓𝒖𝒄𝒕𝒊𝒐𝒏 𝒑𝒓𝒐𝒋𝒆𝒄𝒕𝒔, 𝒆𝒗𝒆𝒏 𝒕𝒉𝒐𝒖𝒈𝒉 𝒕𝒉𝒊𝒔 𝒄𝒐𝒔𝒕 𝒊𝒔 𝒇𝒓𝒆𝒒𝒖𝒆𝒏𝒕𝒍𝒚 𝒔𝒊𝒈𝒏𝒊𝒇𝒊𝒄𝒂𝒏𝒕𝒍𝒚 𝒉𝒊𝒈𝒉𝒆𝒓 𝒕𝒉𝒂𝒏 𝒕𝒉𝒆 𝒄𝒐𝒔𝒕 𝒐𝒇 𝒓𝒆𝒑𝒂𝒊𝒓𝒊𝒏𝒈 𝒂 𝒔𝒕𝒓𝒖𝒄𝒕𝒖𝒓𝒆 𝒂𝒇𝒕𝒆𝒓 𝒇𝒍𝒐𝒐𝒅𝒊𝒏𝒈 𝒐𝒓 𝒘𝒊𝒏𝒅 𝒅𝒂𝒎𝒂𝒈𝒆."

𝐋𝐞𝐚𝐝𝐢n𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬-

Allianz
Axa xl
Chubb
Floodflash
Jumpstart insurance solutions, inc.
Berkshire hathaway specialty insurance
Munich re
Global parametrics
Swiss re
Zurich american insurance company
Scor se
Qbe insurance group limited
Sompo holdings, inc.
Hannover rück se
Beazley group

The report analyzes these key players in the parametric insurance market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.

🔹𝐑𝐞𝐩𝐨𝐫𝐭 𝐚𝐭 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭𝐞𝐝 𝐏𝐫𝐢𝐜𝐞 : https://www.alliedmarketresearch.com/purchase-enquiry/A14966

𝐏𝐚𝐫𝐚𝐦𝐞𝐭𝐫𝐢𝐜 𝐈n𝐬𝐮𝐫𝐚n𝐜𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐊𝐞𝐲 𝐒𝐞𝐠𝐦𝐞n𝐭𝐬:

𝐁𝐲 𝐓𝐲𝐩𝐞
Natural Catastrophes Insurance
Specialty Insurance
Others

𝐁𝐲 𝐈n𝐝𝐮𝐬𝐭𝐫𝐲 𝐕𝐞𝐫𝐭𝐢𝐜𝐚𝐥
Agriculture
Aerospace and Defense
Mining
Construction
Energy and Utilities
Manufacturing
Others

𝐁𝐲 𝐑𝐞𝐠𝐢𝐨n
North America (U.S., Canada)
Europe (UK, Germany, France, Italy, Spain, Rest of Europe)
Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
LAMEA (Latin America, Middle East, Africa)

🔰𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬🔰
Cryptocurrency Market
https://www.alliedmarketresearch.com/crypto-currency-market

Business Travel Accident Insurance Market
https://www.alliedmarketresearch.com/business-travel-accident-insurance-market-A119319

US Insurance Brokerage for Employee Benefits Market
https://www.alliedmarketresearch.com/us-insurance-brokerage-for-employee-benefits-market-A278701

Equity Indexed Life Insurance Market
https://www.alliedmarketresearch.com/equity-indexed-life-insurance-market-A223007

Insurance Third Party Administrator Market
https://www.alliedmarketresearch.com/insurance-third-party-administrator-market-A12542

Virtual currency Market
https://www.alliedmarketresearch.com/virtual-currency-market


Embedded Finance Market
https://www.alliedmarketresearch.com/embedded-finance-market-A110805

Employment Screening Services Market
https://www.alliedmarketresearch.com/employment-screening-services-market

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭:

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