The Report Strategic Market Intelligence:
Life Insurance in Algeria -2017 gives a comprehensive analysis of the Algerian
life insurance market in review period of 2012-2016 and also on forecast period
of 2016-2021. The report offers detailed analysis various segments of Algeria’s
life insurance market and compares it with its counterparts. The report
provides analysis on various distribution channels, risk governance and its
impact on life insurance in the country. This report will help in making
strategic decisions based on forecasted data and helps in identifying
competitive dynamics in the life insurance market. The key competitors in the
life insurance market segment of the country are Caarama Assurance, Amana Assurances, Macir Vie and
Tala taming Life Algerie. The
products offered by the life insurers in the Algerian insurance market are Life
insurance, Economy and Demographics, Regional position, Foreign Direct
Investment, Country Risk, Investment Opportunities, Government Initiatives,
Retail life insurance, Commercial life insurance, Foreign Direct Investment,
Distribution channels, Banc assurance, Agencies, Direct marketing, Brokers,
E-commerce, Competitive Landscape, Legislation and Compulsory insurance.
The insurance market in Algeria is one
of the fastest growing markets in the country. When compared to the size of the
economy, it is relatively small. The insurance market has low penetration and
density coverage. The premiums are most collected from non – life insurance,
though the life insurance market has higher growth rates.
After a few legal changes that brought
about the partition of life and non – life insurance, life segment has seen
intense growth and product diversification. After this partition, there have
been significant developments in this branch. Due to the heavy spending of the
state on health care and security, the operators struggle to capture market
share in life insurance. The future of life insurances in Algeria will sport
growth in retirement savings, travel coverage, group life insurances for
corporates, group accident coverages and health coverage. In the recent years,
personal insurance has been driving the market. Recently, many independent
insurance companies have been established. This has led to innovation and
personalisation of products and services to better the customer experience. The
recent joint venture between Central Reinsurance Company and another major life
and general insurance market has led to the establishment of a third – party
payment system, which is a well - advanced innovative project in the region.
Though a challenge that remains is the highly neglected private insurers due to
public institutions collaborating with foreign players.
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