Natural disasters such as Typhoon Ondoy, which caused widespread damage in the Philippines in 2009, and recent events in neighboring countries such as Japan, have significantly increased Philippine consumer awareness of the need for, and benefits of, insurance. The Philippine personal accident and health insurance segment grew at a healthy rate during the review period. This growth was fuelled by the country’s rising healthcare expenditure, the increasing disposable income of much of the Philippine population, and the growing number of private hospitals in the country. As of 2011, private hospitals account for 65% of the total hospitals available in the country.
Personal Accident and Health Insurance Industry
Published: March 2012
No. of Pages: 178
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Scope
This report provides a comprehensive analysis of the personal accident and health insurance market in the Philippines:
It provides historical values for the Philippine personal accident and health insurance market for the report’s 2007–2011 review period and forecast figures for the 2012–2016 forecast period
It offers a detailed analysis of the key sub-segments in the Philippine personal accident and health insurance market, along with market forecasts until 2016
It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
It analyses the various distribution channels for personal accident and health insurance products in the Philippines
Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in the Philippines for the personal accident and health insurance business
It provides a detailed analysis of the reinsurance market in the Philippines and its growth prospects
It profiles the top personal accident and health insurance companies in the Philippines and outlines the key regulations affecting them
Reasons To Buy
Make strategic business decisions using top-level historic and forecast market data related to the Philippine personal accident and health insurance market and each sector within it
Understand the demand-side dynamics, key market trends and growth opportunities within the Philippine personal accident and health insurance market
Assess the competitive dynamics in the personal accident and health insurance market, along with the reinsurance segment
Identify the growth opportunities and market dynamics within key product categories
Gain insights into key regulations governing the Philippine personal accident and health insurance market and its impact on companies and the market's future
Key Highlights
Personal accident insurance is the most popular category in the personal accident and health insurance segment due to the high frequency of typhoons in Philippines.
The low standard of the country’s public healthcare system is encouraging a substantial proportion of the population to choose private healthcare facilities, although the high cost of such facilities restricts access to the country’s middle and upper classes.
Market growth was fuelled by increasing medical expenditure and the rising disposable incomes of much of the Philippine population
+ comments + 2 comments
Thanks for sharing. Here I found a useful blog about Insurance scams in the Philippines.
There's a lot of insurance company in the Philippines, where you can avail accident and health insurance.
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