The Report Covers Health Insurance Companies in Germany and the Market is Segmented by Product Type (Statutory Health Insurance, Private Health Insurance), Term of Coverage (Short-Term, Long-term), Channel of Distribution (Single Tied or Insurance Group Intermediaries, Broker and Multiple Agents, Credit Institutions, Direct Selling, Other Channels of Distribution), And Income Level (Employed Annual Income Less Than EUR 50, 850, Employed Annual Income Greater Than EUR 50850, Self-employed, Civil Servants). The Market Size and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

The statistic shows the total value of health insurance benefit claims paid on the German insurance market between 2004 and 2020. The payments increased year-on-year over the period. In 2020, health claims paid by the health insurers on the domestic market in Germany amounted to approximately 30.1 billion euros.

In 2022, the AOK's market share by insured persons was around 37 percent, while the BKK had a share of around 15.03 percent. Shares have been mostly unchanged in recent years.

The Report Covers Dog Insurance Market in Germany and the market is segmented by Policy (Pet Health Insurance, Pet Liability Insurance), By Animals (Cat, Dog, Others), and By Provider (Private and Public).

Forecast: Market Share of Foreign-controlled Health Insurance Companies in Germany 2024 - 2028 Discover more data with ReportLinker!

AOK was the most preferred insurer among German consumers when purchasing health insurance in 2023. Techniker Krankenkasse (TK) and Barmer were the second and third favorite insurance providers owned by the respondents in that year.

The Report Covers German Property and Casualty P&C Insurance Companies, And the Market is Segmented by Insurance Type (auto Insurance, Homeowners’ Insurance, Commercial Property Insurance, Fire Insurance, General Liability Insurance, And Other Insurance Types (health Insurance and Legal Insurance)) and Distribution Channel (direct Businesses, Agencies, Banks, And Other Distribution Channels (credit Institutions)). The Report Offers Market Size and Forecasts for the German Property and Casualty Insurance Market in Value (USD) for all the Above Segments.

Forecast: Health Insurance Companies in Germany 2024 - 2028 Discover more data with ReportLinker!

The total number of health insurance companies operating in Germany decreased overall between 1980 and 2022. In 2022, the number of health insurance companies in Germany reached a total of 46 - a number which has not changed in the past seven years. The largest number of health insurance corporations operating during this period was found between 1990 and 2000, when a total of 55 health insurers were operating in Germany.

Forecast: Gross Written Premium of Foreign-controlled Health Insurance Companies in Germany 2024 - 2028 Discover more data with ReportLinker!

The health insurance market offers a range of products, including health maintenance organizations (HMOs), preferred provider organizations (PPOs), and point-of-service (POS) plans. HMOs provide comprehensive coverage within a network of healthcare providers, while PPOs offer more flexibility in choosing providers but with higher out-of-pocket costs. POS plans combine features of both HMOs and PPOs, providing some flexibility while maintaining cost control. Recent developments include: June 2022:Allianz (Germany) subsidiary Bajaj Allianz launched the health insurance " Health Care". This insurance includes emergency treatment available for domestic and international usage., October 2021:United Health Group (US) launched the virtual-first health plan. This plan provides people with 24/7 access to a dedicated care team and quality care at a lower cost., April 2019:Aviva plc (UK) launched the private medical insurance service for corporate clients. It enables staff to access open recommendations to clinicians and medical specialists through their GP or the Aviva Digital GP app.. Notable trends are: Automation and digitization in health insurance are boosting market growth.

In 2022, more than half of all new business for health insurance companies in Germany came through the distribution channel of single-tied or insurance group intermediaries. Meanwhile, brokers accounted for 30.9 percent of new life insurance business.

With 39.1 percent of domestic health insurance claims paid in Europe, the Netherlands has by far the highest share of claims paid. In the Netherlands, private health insurance is mandatory. Insurance companies in the Netherlands must offer a universal healthcare package at a fixed price for all ages and status of health. In 2019, health benefit claims paid on the insurance market in the Netherlands amounted to over 49.37 billion euros.

Germany

Germany, which has the oldest social health care system in the world, runs a statutory health insurance plan. Those employed pay 50 percent of their insurance directly from their wages, with the company picking up the rest of the bill. Those who are self-employed must pay for the complete cover.

Gross direct premiums

In terms of gross direct premiums in the health insurance market, the Netherlands and Germany also make up the highest share in Europe. In total, the value of health premiums written in the European health insurance market amounted to over 172 billion euros in 2020.

The Germany Pet Insurance Market size was valued at USD 3.28 billion in 2023 and is projected to reach USD 9.50 billion by 2032, exhibiting a CAGR of 16.40 % during the forecasts period. German pet Insurance Market is a segment that refers to policies developed to pay for veterinary costs for pets, including accidents, diseases, and general medical treatment for sickness. Pet insurance is becoming an option on the rise among pet owners in an attempt to mitigate the hefty costs of pet medical expenses as well as to provide adequate health coverage for their animals. Some are sicknesses that may require operations or may need to treat various ailments, others are ailments that require certain shots or injections to be administered, and others are for routine checkups. Some of the main factors explaining the development process are the constantly rising pet adoption rate, pet owners’ growing awareness of the importance of pets’ health and stability, and the ‘humanization’ factor, which entails pet owners looking for their pets’ well-being to be as good as their own. Also, the increased use of technology in insurance and increasing numbers and varieties of personal insurance propel this market. Recent developments include: In July 2023, Pets Best Insurance Services, LLC, in collaboration with JAB's Independence Pet Group, has expanded its partnership to offer comprehensive pet insurance underwriting services through Independence American Insurance Company, aiming to meet the growing demand for pet insurance nationwide. , In June 2023, DFV Deutsche Familienversicherung AG has introduced a fresh lineup of pet health insurance offerings, utilizing inventive marketing strategies through engaging television advertisements and dynamic social media campaigns to promote them effectively. , In July 2022, JAB's European pet insurance platform, Pinnacle Pet Group (PPG), has completed the acquisition of AGILA Tierversicherung, a German pet insurance provider. .

The size of the Germany Travel Insurance Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 5.50">> 5.50% during the forecast period. Travel insurance is a specialized type of insurance designed to cover the financial risks associated with traveling. It provides protection against various unforeseen events that can occur before or during a trip, such as trip cancellations, medical emergencies, lost luggage, and travel delays. Typically, travel insurance policies can be tailored to suit the specific needs of travelers, whether they are going on a domestic vacation, an international trip, or a business journey. The industry has evolved to meet the growing demand for travel-related security, especially as global travel continues to expand. Factors such as increasing travel frequency, rising healthcare costs, and the unpredictable nature of travel-related incidents have contributed to the market's growth. The COVID-19 pandemic, in particular, has highlighted the importance of travel insurance, leading to a surge in awareness among travelers about the need for coverage, especially regarding health-related emergencies and trip cancellations due to unforeseen circumstances. Recent developments include: On 17th May 2022, Allianz Global Investors ('AllianzGI') had entered into a memorandum of understanding ('MOU') with Voya Financial relating to a strategic partnership whereby AllianzGI would transfer selected investment teams and assets comprising most of its US business ('AGI US') to Voya Investment Management ('Voya IM') in return for an up to 24% equity stake in the enlarged asset manager., On 30th March 2022, Allianz Real Estate has entered into an agreement to acquire a portfolio of prime multi-family residential assets in Tokyo for approximately USD 90 million, on behalf of the Allianz Real Estate Asia-Pacific Japan Multi-Family Fund I ('AREAP JMF I').. Key drivers for this market are: Digitalization is Driving the Market. Potential restraints include: Economic Disparities are Restraining the Market. Notable trends are: Robust Automotive Market will Augment the Multiple Trip Travel Insurance Demand.

The total revenue from premiums for health insurance companies operating in Germany increased overall between 2019 and 2022. In 2022, the total premium income of health insurers reached 47 billion euros - a slight increase from the previous year. This figure exceeded 40 billion euros for the first time in 2019.

Report Scope:

Snapshot img

Personal Accident and Health Insurance Market Size 2024-2028

The personal accident and health insurance market size is forecast to increase by USD 720.5 billion at a CAGR of 8.81% between 2023 and 2028.

The PA&H insurance market is experiencing significant growth, driven by increasing awareness regarding the benefits of these types of policies. With the advancement of technology, there is an increasing availability of insurance products and services through digital channels. This trend is particularly notable in the US market, where consumers are increasingly turning to online platforms to purchase and manage their insurance coverage. 
However, the PA&H market also faces challenges, including the vulnerability to cybercrime. As more insurers move their operations online, they must prioritize cybersecurity to protect sensitive customer data. Overall, the market is poised for continued growth, driven by consumer demand for comprehensive insurance coverage and the convenience of digital channels.

What will be the Size of the Personal Accident and Health Insurance Market During the Forecast Period?

Request Free Sample

How is this Personal Accident and Health Insurance Industry segmented?

The PA&H insurance industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Type

  Personal health insurance
  Personal accidental insurance


Age Group

  Adults
  Senior citizens
  Children


Geography

  North America

    Canada
    US


  APAC

    China
    Japan
    India
    Australia


  Europe

    UK
    Germany
    France


  South America

    Brazil


  Middle East and Africa

By Type Insights

The personal health insurance segment is estimated to witness significant growth during the forecast period. The PA&H insurance market encompasses health insurance, which is a crucial component. This type of insurance safeguards individuals from exorbitant medical expenses resulting from unforeseen healthcare needs. Coverage includes doctor consultations, hospitalization, prescription medications, and medical procedures. With escalating healthcare costs and the prevalence of chronic diseases, the need for PA&H insurance is increasingly significant. An aging population further amplifies this demand. Key performance indicators for this market include written premium, claims services, profitability trends, and regulatory developments.

Insurance penetration is higher in urban populations, and insurance brokers play a pivotal role in facilitating sales. Technological advancements are transforming the industry, offering innovative solutions and enhancing customer experience.

Get a glance at the share of various segments. Request Free Sample

The personal health insurance segment was valued at USD 588.50 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

For more insights on the market size of various regions, Request Free Sample

The North American market holds a prominent position In the global personal accident and health insurance industry. Fueled by rising consumer awareness and increasing per capita income, the region has experienced steady growth in its personal accident and health insurance sector. A key driver of this expansion is the heightened focus on health and wellness among individuals. The Centers for Disease Control and Prevention (CDC) in the US, for instance, has spearheaded campaigns to promote the importance of personal accident and health insurance coverage. Chronic diseases and lifestyle diseases are major health concerns, leading to substantial medical expenses, including hospital stays, drugs, and procedures.

Insurance coverage for these expenses is crucial, especially as the population ages. Technological advancements have also influenced the market, enabling insurers to offer more comprehensive and customized policies. Key performance indicators such as written premium, claims, and profitability trends are closely monitored by industry experts. Urban populations, insurance penetration, and regulatory developments are other significant factors shaping the market. Insurance brokers play a vital role in facilitating the purchase of personal accident and health insurance.

Market Dynamics

The PA&H insurance market encompasses policies designed to cover medical expenses and income loss resulting from accidents or illnesses. This market experiences continuous growth due to escalating healthcare costs, a rising aging population, and increasing prevalence of chron

Snapshot img

Digital Insurance Market Size 2024-2028

The digital insurance market size is forecast to increase by USD 67.23 billion at a CAGR of 12.8% between 2023 and 2028. The market is experiencing significant growth, driven by the increasing number of insurance policies and the emergence of cloud-based solutions in the sector. The healthcare IT industry is also playing a pivotal role in this evolution, as insurers seek to leverage Low Code/No Code platforms, Machine Learning (ML), and digital transformation strategies to improve efficiency and customer experience. The digital insurance ecosystem is becoming increasingly complex, with insurers, intermediaries, and third-party service providers all collaborating to deliver innovative solutions. Private equity investment is fueling the growth of digital insurance, with firms providing capital to support the development of new technologies and business models. Microsoft Cloud, for instance, is a popular platform for insurers looking to modernize their IT infrastructure and streamline operations. Regulatory compliance is another key trend, as insurers seek to navigate the complex regulatory landscape and ensure they are meeting the evolving needs of their customers.

What will be the Size of the Market During the Forecast Period?

Request Free Sample

The insurance industry is undergoing a significant digital transformation, driven by the need to address macroeconomic factors, customer expectations, and advanced technology. This shift is crucial for companies to provide effective financial safety nets and mitigate protection gaps in an increasingly complex risk landscape. Company culture plays a pivotal role in embracing digital transformation. Insurance organizations must foster a purpose-driven environment that encourages innovation and technology adoption. This mindset is essential for insurers to respond effectively to catastrophic events and provide timely customer service.

Furthermore, advanced technology, such as Artificial Intelligence (AI), is revolutionizing underwriting and claims management processes. AI-driven models can analyze vast amounts of data, enabling insurers to make informed decisions and personalize policies based on individual risk profiles. However, the digital transformation journey is not without challenges. Insurers must navigate the complexities of core system modernization, workforce transformation, and technology adoption. Moreover, the integration of AI and other advanced technologies requires a significant investment in digital capabilities. Customer experience is a key focus area for insurers in the digital age. By adopting a customer-centric business model, insurers can provide personalized offerings, streamline processes, and enhance communication channels.

Additionally, insurers can leverage digital capabilities to offer innovative financial health and employee benefits solutions, catering to the evolving needs of their customers. Diversity and inclusion are essential components of a successful digital transformation strategy. Insurance companies must foster a workforce that reflects the diversity of their customer base, ensuring that they can effectively address the unique needs and expectations of various communities. In conclusion, the insurance industry's digital transformation is essential for companies to remain competitive and provide effective financial safety nets amidst macroeconomic factors and advanced technology. By focusing on customer experience, technology adoption, and workforce transformation, insurers can navigate the complexities of the digital age and thrive in an ever-evolving risk landscape.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Distribution Channel

  Direct sales
  Brokers/agents
  Affiliated partners


End-user

  Individuals
  Businesses


Geography

  North America

    US


  Europe

    Germany
    UK


  APAC

    China


  South America



  Middle East and Africa

By Distribution Channel Insights

The direct sales segment is estimated to witness significant growth during the forecast period. The market in the United States has experienced a transformative shift with the rise of InsurTech and the Direct-to-Consumer (DTC) model. This model eliminates the need for intermediaries like brokers and agents, allowing insurers to sell policies directly to consumers through digital channels. The DTC model's advantages are manifold. First, it offers significant cost savings. By cutting out intermediaries, insurers can reduce commission fees, leading to lower premiums for consumers and increased profitability for insurers. Moreover, the use of advanced technologies such as AI and Parametric insurance en

In 2024, the share of income German employees contributed to their public health insurance was the same as each year since 2015. In 2024, German workers paid on average 14.6 percent of their income towards public health insurance coverage. These contributions along with contributions from employers and federal subsidies fund the services provided by public health funds - known as "Krankenkassen" - in Germany. The number of statutory health insurance companies in Germany fell below 100 for the first time in 2022.