The Latin America, Middle East and Africa Parametric Insurance Market would witness market growth of 16.3% CAGR during the forecast period (2022-2028).
Monitor the relevant parameters to identify when the threshold has been reached or exceeded. The calculations for the variable are based on risk modeling that uses historical data and observable information from the real world. To avoid any potential conflicts of interest and to maintain transparency, a third party chooses the event's intensity. The pre-determined indemnity is automatically given to the policyholder if the threshold is met.
Given the ongoing effects that climate change is exerting on the earth, parametric insurance will probably keep gaining in popularity. The pandemic has also increased businesses' awareness of how external factors might significantly affect their ability to survive. The majority of firms have learned that numerous conventional insurance policies flat-out do not cover losses caused by pandemics. As businesses learned that their insurers would not pay for pandemic claims, claiming the virus was not responsible for any physical damage, lawsuits did indeed make news.
In the past 20 years, Egypt has seen 23 major disasters, including floods, earthquakes, and landslides, costing about US$1.3 billion in losses. The two countries most at risk from seismic dangers are Iran and Algeria. In Iran, earthquakes are to blame for 95% of all fatalities during disasters. 90% of Algeria's population and infrastructure are situated in seismically vulnerable regions. Morocco and the Republic of Yemen both frequently experience earthquakes, landslides, and floods. The variability and uncertainty of disasters have led the governments to push for more financial help for their citizens. This is further aided by the financial support of parametric insurance. Therefore, the region is bound to bolster the growth of the parametric insurance market.
The Brazil market dominated the LAMEA Parametric Insurance Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $442 million by 2028. The Argentina market would showcase a CAGR of 16.9% during (2022 - 2028). Additionally, The UAE market is experiencing a CAGR of 16% during (2022 - 2028).
Based on Type, the market is segmented into Natural Catastrophes Insurance, Specialty Insurance, and Others. Based on Vertical, the market is segmented into Agriculture, Construction, Aerospace & Defense, Mining, Manufacturing, Energy & Utilities, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Parametric Insurance Market is Predict to reach $21.4 Billion by 2028, at a CAGR of 9.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Allianz Group, AXA SA, Zurich Insurance Group Ltd., Berkshire Hathaway, Inc., Chubb Limited, Munich Re Group, FloodFlash Limited, Neptune Flood Incorporated, Global Parametrics Limited and Swiss Re.
Scope of the Study
Market Segments Covered in the Report:
By Type
- Natural Catastrophes Insurance
- Specialty Insurance
- Others
By Vertical
- Agriculture
- Construction
- Aerospace & Defense
- Mining
- Manufacturing
- Energy & Utilities
- Others
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Allianz Group
- AXA SA
- Zurich Insurance Group Ltd.
- Berkshire Hathaway, Inc.
- Chubb Limited
- Munich Re Group
- FloodFlash Limited
- Neptune Flood Incorporated
- Global Parametrics Limited
- Swiss Re.
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 LAMEA Parametric Insurance Market, by Type
1.4.2 LAMEA Parametric Insurance Market, by Vertical
1.4.3 LAMEA Parametric Insurance Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2018-2022)
3.3.2 Key Strategic Move: (Acquisitions and Mergers: 2019, Dec – 2022, Jul) Leading Players
3.3.3 Key Strategic Move: (Partnerships, Collaborations and Agreements: 2020, Dec – 2022, Jul) Leading Players
Chapter 4. LAMEA Parametric Insurance Market by Type
4.1 LAMEA Natural Catastrophes Insurance Market by Country
4.2 LAMEA Specialty Insurance Market by Country
4.3 LAMEA Others Market by Country
Chapter 5. LAMEA Parametric Insurance Market by Vertical
5.1 LAMEA Agriculture Market by Country
5.2 LAMEA Construction Market by Country
5.3 LAMEA Aerospace & Defense Market by Country
5.4 LAMEA Mining Market by Country
5.5 LAMEA Manufacturing Market by Country
5.6 LAMEA Energy & Utilities Market by Country
5.7 LAMEA Others Market by Country
Chapter 6. LAMEA Parametric Insurance Market by Country
6.1 Brazil Parametric Insurance Market
6.1.1 Brazil Parametric Insurance Market by Type
6.1.2 Brazil Parametric Insurance Market by Vertical
6.2 Argentina Parametric Insurance Market
6.2.1 Argentina Parametric Insurance Market by Type
6.2.2 Argentina Parametric Insurance Market by Vertical
6.3 UAE Parametric Insurance Market
6.3.1 UAE Parametric Insurance Market by Type
6.3.2 UAE Parametric Insurance Market by Vertical
6.4 Saudi Arabia Parametric Insurance Market
6.4.1 Saudi Arabia Parametric Insurance Market by Type
6.4.2 Saudi Arabia Parametric Insurance Market by Vertical
6.5 South Africa Parametric Insurance Market
6.5.1 South Africa Parametric Insurance Market by Type
6.5.2 South Africa Parametric Insurance Market by Vertical
6.6 Nigeria Parametric Insurance Market
6.6.1 Nigeria Parametric Insurance Market by Type
6.6.2 Nigeria Parametric Insurance Market by Vertical
6.7 Rest of LAMEA Parametric Insurance Market
6.7.1 Rest of LAMEA Parametric Insurance Market by Type
6.7.2 Rest of LAMEA Parametric Insurance Market by Vertical
Chapter 7. Company Profiles
7.1 Allianz Group
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental Analysis
7.1.4 Recent strategies and developments:
7.1.4.1 Acquisition and Mergers:
7.1.5 SWOT Analysis
7.2 AXA SA
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental Analysis
7.2.4 Recent strategies and developments:
7.2.4.1 Partnerships, Collaborations, and Agreements:
7.2.4.2 Product Launches and Product Expansions:
7.2.5 SWOT Analysis
7.3 Zurich Insurance Group Ltd.
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Segmental and Regional Analysis
7.3.4 Recent strategies and developments:
7.3.4.1 Product Launches and Product Expansions:
7.3.4.2 Acquisition and Mergers:
7.3.5 SWOT Analysis
7.4 Berkshire Hathaway, Inc.
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Segmental and Regional Analysis
7.4.4 Recent strategies and developments:
7.4.4.1 Acquisition and Mergers:
7.5 Chubb Limited
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Recent strategies and developments:
7.5.3.1 Product Launches and Product Expansions:
7.5.3.2 Acquisition and Mergers:
7.5.4 SWOT Analysis
7.6 Munich Re Group
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Segmental Analysis
7.6.4 Recent strategies and developments:
7.6.4.1 Partnerships, Collaborations, and Agreements:
7.7 FloodFlash Limited
7.7.1 Company Overview
7.8 Neptune Flood Incorporated
7.8.1 Company Overview
7.8.2 Recent strategies and developments:
7.8.2.1 Partnerships, Collaborations, and Agreements:
7.8.2.2 Acquisition and Mergers:
7.9 Global Parametrics Limited
7.9.1 Company Overview
7.10. Swiss Re.
7.10.1 Company Overview
7.10.2 Financial Analysis
7.10.3 Segmental and Regional Analysis
7.10.4 Recent strategies and developments:
7.10.4.1 Partnerships, Collaborations, and Agreements:
7.10.4.2 Product Launches and Product Expansions:
TABLE 1 LAMEA Parametric Insurance Market, 2018 - 2021, USD Million
TABLE 2 LAMEA Parametric Insurance Market, 2022 - 2028, USD Million
TABLE 3 Partnerships, Collaborations and Agreements – Parametric Insurance Market
TABLE 4 Product Launches And Product Expansions – Parametric Insurance Market
TABLE 5 Acquisition and Mergers – Parametric Insurance Market
TABLE 6 LAMEA Parametric Insurance Market by Type, 2018 - 2021, USD Million
TABLE 7 LAMEA Parametric Insurance Market by Type, 2022 - 2028, USD Million
TABLE 8 LAMEA Natural Catastrophes Insurance Market by Country, 2018 - 2021, USD Million
TABLE 9 LAMEA Natural Catastrophes Insurance Market by Country, 2022 - 2028, USD Million
TABLE 10 LAMEA Specialty Insurance Market by Country, 2018 - 2021, USD Million
TABLE 11 LAMEA Specialty Insurance Market by Country, 2022 - 2028, USD Million
TABLE 12 LAMEA Others Market by Country, 2018 - 2021, USD Million
TABLE 13 LAMEA Others Market by Country, 2022 - 2028, USD Million
TABLE 14 LAMEA Parametric Insurance Market by Vertical, 2018 - 2021, USD Million
TABLE 15 LAMEA Parametric Insurance Market by Vertical, 2022 - 2028, USD Million
TABLE 16 LAMEA Agriculture Market by Country, 2018 - 2021, USD Million
TABLE 17 LAMEA Agriculture Market by Country, 2022 - 2028, USD Million
TABLE 18 LAMEA Construction Market by Country, 2018 - 2021, USD Million
TABLE 19 LAMEA Construction Market by Country, 2022 - 2028, USD Million
TABLE 20 LAMEA Aerospace & Defense Market by Country, 2018 - 2021, USD Million
TABLE 21 LAMEA Aerospace & Defense Market by Country, 2022 - 2028, USD Million
TABLE 22 LAMEA Mining Market by Country, 2018 - 2021, USD Million
TABLE 23 LAMEA Mining Market by Country, 2022 - 2028, USD Million
TABLE 24 LAMEA Manufacturing Market by Country, 2018 - 2021, USD Million
TABLE 25 LAMEA Manufacturing Market by Country, 2022 - 2028, USD Million
TABLE 26 LAMEA Energy & Utilities Market by Country, 2018 - 2021, USD Million
TABLE 27 LAMEA Energy & Utilities Market by Country, 2022 - 2028, USD Million
TABLE 28 LAMEA Others Market by Country, 2018 - 2021, USD Million
TABLE 29 LAMEA Others Market by Country, 2022 - 2028, USD Million
TABLE 30 LAMEA Parametric Insurance Market by Country, 2018 - 2021, USD Million
TABLE 31 LAMEA Parametric Insurance Market by Country, 2022 - 2028, USD Million
TABLE 32 Brazil Parametric Insurance Market, 2018 - 2021, USD Million
TABLE 33 Brazil Parametric Insurance Market, 2022 - 2028, USD Million
TABLE 34 Brazil Parametric Insurance Market by Type, 2018 - 2021, USD Million
TABLE 35 Brazil Parametric Insurance Market by Type, 2022 - 2028, USD Million
TABLE 36 Brazil Parametric Insurance Market by Vertical, 2018 - 2021, USD Million
TABLE 37 Brazil Parametric Insurance Market by Vertical, 2022 - 2028, USD Million
TABLE 38 Argentina Parametric Insurance Market, 2018 - 2021, USD Million
TABLE 39 Argentina Parametric Insurance Market, 2022 - 2028, USD Million
TABLE 40 Argentina Parametric Insurance Market by Type, 2018 - 2021, USD Million
TABLE 41 Argentina Parametric Insurance Market by Type, 2022 - 2028, USD Million
TABLE 42 Argentina Parametric Insurance Market by Vertical, 2018 - 2021, USD Million
TABLE 43 Argentina Parametric Insurance Market by Vertical, 2022 - 2028, USD Million
TABLE 44 UAE Parametric Insurance Market, 2018 - 2021, USD Million
TABLE 45 UAE Parametric Insurance Market, 2022 - 2028, USD Million
TABLE 46 UAE Parametric Insurance Market by Type, 2018 - 2021, USD Million
TABLE 47 UAE Parametric Insurance Market by Type, 2022 - 2028, USD Million
TABLE 48 UAE Parametric Insurance Market by Vertical, 2018 - 2021, USD Million
TABLE 49 UAE Parametric Insurance Market by Vertical, 2022 - 2028, USD Million
TABLE 50 Saudi Arabia Parametric Insurance Market, 2018 - 2021, USD Million
TABLE 51 Saudi Arabia Parametric Insurance Market, 2022 - 2028, USD Million
TABLE 52 Saudi Arabia Parametric Insurance Market by Type, 2018 - 2021, USD Million
TABLE 53 Saudi Arabia Parametric Insurance Market by Type, 2022 - 2028, USD Million
TABLE 54 Saudi Arabia Parametric Insurance Market by Vertical, 2018 - 2021, USD Million
TABLE 55 Saudi Arabia Parametric Insurance Market by Vertical, 2022 - 2028, USD Million
TABLE 56 South Africa Parametric Insurance Market, 2018 - 2021, USD Million
TABLE 57 South Africa Parametric Insurance Market, 2022 - 2028, USD Million
TABLE 58 South Africa Parametric Insurance Market by Type, 2018 - 2021, USD Million
TABLE 59 South Africa Parametric Insurance Market by Type, 2022 - 2028, USD Million
TABLE 60 South Africa Parametric Insurance Market by Vertical, 2018 - 2021, USD Million
TABLE 61 South Africa Parametric Insurance Market by Vertical, 2022 - 2028, USD Million
TABLE 62 Nigeria Parametric Insurance Market, 2018 - 2021, USD Million
TABLE 63 Nigeria Parametric Insurance Market, 2022 - 2028, USD Million
TABLE 64 Nigeria Parametric Insurance Market by Type, 2018 - 2021, USD Million
TABLE 65 Nigeria Parametric Insurance Market by Type, 2022 - 2028, USD Million
TABLE 66 Nigeria Parametric Insurance Market by Vertical, 2018 - 2021, USD Million
TABLE 67 Nigeria Parametric Insurance Market by Vertical, 2022 - 2028, USD Million
TABLE 68 Rest of LAMEA Parametric Insurance Market, 2018 - 2021, USD Million
TABLE 69 Rest of LAMEA Parametric Insurance Market, 2022 - 2028, USD Million
TABLE 70 Rest of LAMEA Parametric Insurance Market by Type, 2018 - 2021, USD Million
TABLE 71 Rest of LAMEA Parametric Insurance Market by Type, 2022 - 2028, USD Million
TABLE 72 Rest of LAMEA Parametric Insurance Market by Vertical, 2018 - 2021, USD Million
TABLE 73 Rest of LAMEA Parametric Insurance Market by Vertical, 2022 - 2028, USD Million
TABLE 74 Key Information – Allianz Group
TABLE 75 key information – AXA SA
TABLE 76 Key Information – Zurich Insurance Group Ltd.
TABLE 77 key information – Berkshire Hathaway, Inc.
TABLE 78 Key Information – Chubb Limited
TABLE 79 Key Information – Munich Re Group
TABLE 80 Key Information – FloodFlash Limited
TABLE 81 Key Information – Neptune Flood Incorporated
TABLE 82 Key Information – Global Parametrics
TABLE 83 Key Information – Swiss Re.
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2018-2022)
FIG 4 Key Strategic Move: (Acquisitions and Mergers: 2019, Dec – 2022, Jul) Leading Players
FIG 5 Key Strategic Move: (Partnerships, Collaborations and Agreements: 2020, Dec – 2022, Jul) Leading Players
FIG 6 SWOT Analysis: Allianz Group
FIG 7 SWOT Analysis: AXA SA
FIG 8 SWOT Analysis: Zurich Insurance Group
FIG 9 SWOT Analysis: Chubb Limited
FIG 10 Recent strategies and developments: Neptune Flood