In South Africa, the insurance penetration rate was 16.99 percent in 2017, which was the highest rate in Sub-Saharan Africa. South Africa was followed by Namibia, Lesotho, Mauritius and Zimbabwe, which had insurance penetration rates ranging between four and seven percent. Over half of the countries in the region had a rate of less than one percent.

What is insurance penetration? Insurance penetration refers to the ratio between the value of premiums written in a particular year in a particular country to the GDP of the respective country. Most countries in Sub-Saharan Africa have lower than average insurance penetration rates, when compared with other parts of the world.

The future of insurance in Africa This low penetration is due to the fact that the African insurance industry is still in its infancy, premiums are financially out of reach of many people and financial literacy is relatively low. However, African insurers believe that rising education and financial literacy levels, the growth of the black middle class and the increase in the working population will have a large impact in the insurance industry in the region.

In 2023, insurance penetration was highest in the South Africa where the value of insurance premiums accounted for almost ** percent of GDP. Insurance penetration is used as an indicator of insurance sector development within a country and is calculated as the ratio of total insurance premiums to gross domestic product in a given year. In 2023, the insurance penetration in United States equaled **** percent of its GDP. Thus, the value of insurance premiums written in United States in that year equaled more than one **th of its GDP. Auto insurance leads the U.S. P&C marketIn 2023, private passenger auto insurance held the largest share of net premiums written by property and casualty insurance companies in the United States. Additionally, commercial auto insurance also accounted for a significant portion of net premiums. Combined, these two insurance lines made up about ** percent of the property and casualty insurance market.United States' life insurance market Households often rely on life insurance to ensure financial stability for dependents and to cover obligations like debts, mortgages, and education costs. The number of life insurance companies in the United States has remained steady over the past five years. The United States' population has been gradually climbing during this time, which means that the number of potential insurance customers has also been increasing.

United States Supplemental Insurance: Africa: Premiums Received: Direct data was reported at 19.000 USD mn in 2016. This records a decrease from the previous number of 24.000 USD mn for 2015. United States Supplemental Insurance: Africa: Premiums Received: Direct data is updated yearly, averaging 17.000 USD mn from Dec 1999 (Median) to 2016, with 18 observations. The data reached an all-time high of 27.000 USD mn in 2013 and a record low of 2.000 USD mn in 1999. United States Supplemental Insurance: Africa: Premiums Received: Direct data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s USA – Table US.JA031: Trade Statistics: Services: Africa.

This site is part of a network of digital infrastructure built by Code for Africa (CfA) as a free open source software for use by human rights defending organisations. Reuse it to empower your own communities. CfA is Africa's largest non-profit civic technology and open data catalyst, with labs across the continent. CfA content on this site is released under a Creative Commons 4.0 International License. Refer to our attributions page for attributions of other work on the site.

Rationale: Poor access to care and physician shortage are major barriers to hypertension control in sub-Saharan Africa. Implementation of evidence-based systems-level strategies targeted at these barriers are lacking. Objective: To evaluate the comparative effectiveness of provision of health insurance coverage (HIC) alone versus a nurse-led task-shifting strategy for hypertension control (TASSH) plus HIC on systolic BP reduction among patients with uncontrolled hypertension in Ghana. Methods and Findings: Using a pragmatic cluster-randomized trial, 32 community health centers within Ghana's public healthcare system were randomly assigned to either HIC alone or TASSH+HIC. A total of 757 patients with uncontrolled hypertension were recruited between November 28 2012 and June 11 2014 and followed up to October 7 2016. Both intervention groups received health insurance coverage plus scheduled nurse visits while TASSH+HIC comprised cardiovascular risk assessment; lifestyle counseling, and initiation/titration of antihypertensive medications for 12 months delivered by trained nurses within the healthcare system. The primary outcome was change in systolic BP from baseline to 12 months. Secondary outcomes included lifestyle behaviors and BP control at 12 months; and sustainability of systolic BP reduction at 24 months. Of the 757 patients (389 in HIC and 368 in TASH+HIC groups), 85% had 12 month data available [60% women, mean BP 155.9/89.6]. In intention-to-treat analyses adjusted for clustering, the TASSH+HIC group had a greater SBP reduction (20.4 mmHg; 95% CI -25.2 to -15.6) than the HIC group (16.8 mmHg; 95% CI -19.2 to -15.6) with a statistically significant between-group difference of 3.6 mmHg [95% CI -6.1 to -0.5; p = 0.021]. Blood pressure control improved significantly in both groups (55.2%; 95% CI 50.0 to 60.3 for the TASSH+HIC group versus 49·9; 95% CI 44.9 to 54.9 for the HIC group) with a non-significant between-group difference 5.2% ( 95% CI =-1.8 to 12.4; p=0.29). Similarly, lifestyle behaviors did not change appreciably for both groups. Twenty-one adverse events were reported (9 and 12 in the TASSH+HIC and HIC group respectively). The main study limitation is the lack of cost-effectiveness analysis to determine the additional cost-benefit, if any, of the TASSH+HIC group. Conclusions: Provision of health insurance coverage plus a nurse-led task-shifting strategy was associated with a greater reduction in systolic BP than provision of health insurance coverage alone, among patients with uncontrolled hypertension in Ghana. Future scale up of these systems-level strategies for hypertension control in sub-Saharan Africa requires a cost-benefit analysis.

United States Supplemental Insurance Transaction: Africa: Premiums Received data was reported at 229.000 USD mn in 2016. This records a decrease from the previous number of 234.000 USD mn for 2015. United States Supplemental Insurance Transaction: Africa: Premiums Received data is updated yearly, averaging 138.500 USD mn from Dec 1999 (Median) to 2016, with 18 observations. The data reached an all-time high of 234.000 USD mn in 2015 and a record low of 11.000 USD mn in 1999. United States Supplemental Insurance Transaction: Africa: Premiums Received data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s USA – Table US.JA031: Trade Statistics: Services: Africa.

Snapshot img

Insurance Analytics Market 2024-2028

The insurance analytics market size is projected to increase by USD 13.14 billion, at a CAGR of 15.96% between 2023 and 2028. The growth rate of the market depends on several factors, including the increasing government regulations on mandatory insurance coverage in developing countries, the increasing availability of big data tools, and the growing need for insurers to make data-driven decisions. Insurance analytics involves the use of data analysis and statistical techniques to gain insights into the insurance industry. It helps insurers make informed decisions, assess risks, detect fraudulent activities, and enhance overall operational efficiency. This technology leverages data from various sources, including customer information, claims data, and market trends, to optimize underwriting, pricing, and claims processing activities.

The report includes a comprehensive outlook on the Insurance Analytics Market, offering forecasts for the industry segmented by Deployment, which comprises cloud and on-premises. Additionally, it categorizes Component into tools and services and covers Regions, including North America, Europe, APAC, Middle East and Africa, and South America. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.

What will be the size of the Insurance Analytics Market During the Forecast Period?

For More Highlights About this Report, Download Free Sample in a Minute

Insurance Analytics Market Overview

Insurance Analytics Market Driver

Increasing government regulations on mandatory insurance coverage in developing countries is the key factor driving market growth. Third-party motor insurance is compulsory for vehicles that run on public roads in some countries. For example, anyone who owns or operates a vehicle in the state of Maine in the US must have at least the minimum amount of insurance required by law. Similarly, health insurance is mandatory in most developed countries. Travel insurance is mandatory for a person traveling to a foreign country (in most developed countries).

Furthermore, the travel Insurance industry is expected to grow at a rapid pace due to the increase in cross-country tourism. The health insurance analytics industry is growing slowly in developing countries because of the increased awareness about the importance of having health insurance. As a result, the growth of various types of insurance is resulting in the rapid expansion of the global insurance analytics market.

Insurance Analytics Market Trends

Increasing adoption of insurance in developing countries is the primary trend shaping market growth. The market is currently expanding at a fast pace because of the increasing awareness about the importance of insurance. Emerging markets, mainly China and India, are expected to contribute to the rapid growth of the insurance industry.

In addition, the digital transformation in the insurance industry has resulted in a rapid increase in the demand for upgraded customer-facing insurance analytics solutions. With the increasing demand for insurance in developing countries, the demand for insurance analytics is also growing at a fast pace. Traditional methods of insurance are not favored anymore.

Insurance Analytics Market Restrain

The complexity of integrating diverse data sources is a challenge that affects market growth. Insurers often deal with vast amounts of data generated by various channels, and integrating this data seamlessly can be complex and complicated. Standardizing data formats, ensuring data quality, and establishing interoperability between different systems are crucial aspects. Overcoming these integration challenges is essential for insurers to harness the full potential of analytics and derive meaningful insights from the diverse datasets available to them.

Furthermore, the insurance sector is a heavily regulated industry, and data use and integration must comply with various regional and industry-specific regulations. Ensuring adherence to compliance standards adds complexity to the overall integration process. In addition, inaccuracies or inconsistencies can lead to flawed insights and decisions.

Insurance Analytics Market Segmentation By Deployment

The market share growth by the cloud segment will be significant during the forecast period. Cloud-based insurance analytics refers to the use of cloud computing services to store, analyze, and process insurance-related data. By leveraging cloud platforms, insurers can benefit from enhanced scalability, flexibility, and accessibility. This enables the efficient handling of large datasets, faster analytics processing, and the ability to access insights from virtually anywhere.

Get a glance at the market contribution of various segments Download the PDF Sam

United States Supplemental Insurance: Africa: Losses Paid data was reported at 139.000 USD mn in 2016. This records a decrease from the previous number of 144.000 USD mn for 2015. United States Supplemental Insurance: Africa: Losses Paid data is updated yearly, averaging 62.500 USD mn from Dec 1999 (Median) to 2016, with 18 observations. The data reached an all-time high of 144.000 USD mn in 2015 and a record low of 23.000 USD mn in 2007. United States Supplemental Insurance: Africa: Losses Paid data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s USA – Table US.JA031: Trade Statistics: Services: Africa.

United States Supplemental Insurance: Africa: Premiums Received: Reinsurance data was reported at 210.000 USD mn in 2016. This stayed constant from the previous number of 210.000 USD mn for 2015. United States Supplemental Insurance: Africa: Premiums Received: Reinsurance data is updated yearly, averaging 119.000 USD mn from Dec 1999 (Median) to 2016, with 18 observations. The data reached an all-time high of 210.000 USD mn in 2016 and a record low of 9.000 USD mn in 1999. United States Supplemental Insurance: Africa: Premiums Received: Reinsurance data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s USA – Table US.JA031: Trade Statistics: Services: Africa.

Snapshot img

Telematics Market In Insurance Industry Size 2024-2028

The telematics market in insurance industry size is forecast to increase by USD 4.35 billion at a CAGR of 20.6% between 2023 and 2028.

The telematics market in the insurance industry is experiencing significant growth due to the adoption of telematics-driven Usage-Based Insurance (UBI) and the optimization of customer communication. Telematics enables vehicle detection, fleet management, and data tracking through microcontroller hardware platforms and Wi-Fi connectivity. This data is processed through cloud-based servers and used to provide customized insurance policies based on individual risk profiles.
Moreover, the integration of IoT-enabled telematics solutions in transportation, building, and site trenching industries is expanding the market's reach. Aftermarket solutions, surveillance systems, video feeds, and other advanced features are addressing safety and security concerns linked to telematics in the insurance industry.

Telematics Market In Insurance Industry Analysis

Request Free Sample

How is this market segmented and which is the largest segment?

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

Deployment

  On-premises
  Cloud


Geography

  North America

    US


  APAC

    China
    Japan


  Europe

    Germany
    UK


  South America



  Middle East and Africa

By Deployment Insights

The on-premises segment is estimated to witness significant growth during the forecast period. In the insurance industry, the telematics market is experiencing significant growth, particularly in the use of on-premises telematics solutions. On-premises deployment allows businesses to manage and store data on their own servers, providing real-time insights into driver behavior for risk rating. With the increasing number of connected vehicles on the road, on-premises telematics solutions are becoming essential for meeting connectivity requirements, such as software upgrades and turnaround times. As a result, on-premises services and deployment for global telematics in the insurance sector will continue to be a major segment of the market, offering benefits like increased control and security over data.

Similarly, telematics and usage-based insurance (UBI) are becoming standard offerings in the vehicle insurance industry, and on-premises deployment enables real-time monitoring of driver behavior. The growing number of IoT-enabled vehicles is expected to boost the demand for on-premises telematics solutions, as they offer the flexibility and control needed to manage the vast amounts of data generated by these vehicles. Furthermore, on-premises solutions can be integrated with surveillance systems, video feeds, and aftermarket solutions, providing a comprehensive view of transportation risks. Cloud-based solutions also have their merits, but on-premises telematics solutions offer businesses the ability to build their own telematics databases and customize their risk rating models.

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

The on-premises segment accounted for USD 1.17 billion in 2018 and showed a gradual increase during the forecast period.

Will APAC become the largest contributor to the Telematics In Insurance Industry Market?

APAC is estimated to contribute 36% 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 share of various regions Request Free Sample

The telematics market in the North American insurance industry is experiencing substantial growth due to the expanding population and rising usage of commercial and personal vehicles. This trend is leading to a heightened demand for sophisticated telematics systems in the auto insurance sector. Additionally, the importance of regulatory compliance within the automotive industry and the escalating adoption of Internet of Things (IoT) technology by insurance telematics providers are significant contributors to the market's expansion. The increasing emphasis on technology utilization, expanding Internet connectivity across North America, and regulatory requirements prioritizing safety measures for vehicle operation are primary catalysts fueling the interest in usage-based insurance telematics devices in the insurance sector. These devices, which employ on-board diagnostics (OBD), fleet tracking via GPS vehicle monitoring, and management tools, provide valuable telematics data on vehicle maintenance, fuel efficiency, and driving habits. By leveraging this data, insurers can offer customized policies based on indiv

Snapshot img

What is the Size of Burial Insurance Market?

The burial insurance market size is forecast to increase by USD 72 billion and is estimated to grow at a CAGR of 5.5% between 2024 and 2029. The market is experiencing significant growth due to several key factors. The geriatric population is expanding, leading to a rise in demand for burial insurance. Additionally, there is an increasing focus on digitalization in the insurance industry, making it more convenient for consumers to purchase policies online. However, the market is also facing challenges such as misleading advertisements that may misrepresent the true cost and coverage of burial insurance policies. As the population ages and consumers seek out more efficient ways to plan for end-of-life expenses, the market is poised for continued growth. Digitalization is playing a crucial role in making these policies more accessible, but it is essential for insurers to maintain transparency and accuracy in their advertising to build trust and credibility with consumers.

Request Free Market Sample

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019 - 2023 for the following segments.

Age Group

  Seniors
  Pre-retirement individuals
  High-risk individuals


Product Type

  Final expense life insurance
  Pre-need burial insurance
  Whole life burial insurance
  Guaranteed issue burial insurance
  Term burial insurance


Geography

  North America

    Canada
    US


  Europe

    Germany
    UK
    France
    Italy


  APAC

    Japan
    South Korea


  South America

    Brazil


  Middle East and Africa

Which is the largest segment driving market growth?

The seniors segment is estimated to witness significant growth during the forecast period. The market is gaining significance as the senior population continues to expand. Approximately 50% of the global population aged 60 and above is projected to reach 1.4 billion by 2030, and this demographic segment represents a substantial market opportunity.

Get a glance at the market share of various regions. Download the PDF Sample

The seniors segment was the largest segment and was valued at USD 126.40 billion in 2019. This trend presents a growing demand for burial insurance coverage. Burial insurance policies offer a predetermined coverage amount to cover funeral and burial expenses. Underwriting processes for these policies have been simplified, with some companies offering coverage without a medical exam requirement. This approach, known as simplified underwriting, caters to consumers with various health conditions. Agents play a crucial role in connecting consumers with the most suitable policies for their needs. Hence, such factors are fuelling the growth of this segment during the forecast period.

Which region is leading the market?

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

North America is estimated to contribute 57% 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. The North American market for burial insurance is witnessing notable expansion due to the increasing recognition among the aging population of the importance of long-term care planning. A recent survey involving over 1,700 participants underscored the significance of this issue, with 91% of respondents acknowledging the need to include long-term care in their retirement plans. This heightened awareness is fueling the demand for burial insurance in the region. In response to this trend, companies such as Transamerica are innovating to improve the customer experience. In March 2023, Transamerica introduced ConnectedClaimsSM, a range of customizable services aimed at streamlining access to workplace supplemental insurance benefits. This premium service offers policyholders a level of death benefit and guarantees acceptance without the need for a medical examination. With technological dependence on the rise, funeral cover continues to provide essential financial help for families during difficult times.

How do company ranking index and market positioning come to your aid?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

AFLAC Inc: The company offers burial insurance such as immediate cash payout which provides a tax-free cash benefit to cover final expenses such as funeral costs.

Technavio provides the ranking index for the top 20 companies along with insights on the market positioning of:

American International Group Inc.
An Post Insuranc

Snapshot img

Insurtech Market Size 2025-2029

The insurtech market size is forecast to increase by USD 114.39 billion, at a CAGR of 43.6% between 2024 and 2029.

The market is experiencing significant growth, driven by the increasing need for businesses to enhance operational efficiency in the insurance sector. Traditional insurance processes are being revolutionized through digital transformation, leading to increased productivity and customer satisfaction. Moreover, strategic collaborations between investors and Insurtech firms are fueling innovation and investment in this sector. However, the high cost of investment remains a challenge for new entrants, requiring a substantial financial commitment to develop and scale their technologies. InsurTech innovations, such as telematics, blockchain, and artificial intelligence, are transforming the insurance landscape by offering personalized policies, real-time risk assessment, and automated claims processing.
To succeed, companies must navigate this obstacle by securing adequate funding and forming strategic partnerships. By staying informed of these market dynamics, businesses can effectively capitalize on opportunities and overcome challenges in the evolving Insurtech landscape.

What will be the Size of the Insurtech Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
Request Free Sample

The market continues to evolve, driven by advancements in technology and shifting customer expectations. Digital insurance solutions are revolutionizing the industry, with data analytics playing a pivotal role in shaping pricing strategies. Cloud computing enables insurtech platforms to offer enhanced customer experience and retention through personalized offerings. IoT sensors, wearable technology, and natural language processing are transforming risk assessment, while AI algorithms and machine learning optimize claims management and process automation. Search engine optimization and marketing automation enhance digital distribution, reaching customers more effectively. Insurtech startups are disrupting traditional insurance models with innovative solutions, such as peer-to-peer insurance and usage-based insurance.

Remote monitoring and predictive modeling enable cost reduction and improved operational efficiency. Blockchain technology and API integrations ensure secure data exchange and streamlined policy administration. The market's continuous dynamism is further reflected in the integration of big data, financial modeling, and fraud detection, all aimed at enhancing sales growth and risk management. The ongoing digital transformation of the insurance sector is reshaping the industry landscape, with M&A activity and on-demand insurance models further fueling the market's evolution.

How is this Insurtech Industry segmented?

The insurtech industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Application

  Marketing and distribution
  IT support
  Claim management
  Policy administration and management
  Others


Deployment

  On-premises
  Cloud


End-User

  Insurance Companies
  Brokers
  Policyholders


Technology

  Artificial Intelligence
  Blockchain
  Internet of Things


Geography

  North America

    US
    Canada
    Mexico


  Europe

    France
    Germany
    Italy
    UK


  APAC

    China
    India
    Japan


  South America

    Brazil
    Argentina


  Middle East and Africa

    UAE


  Rest of World (ROW)

By Application Insights

The marketing and distribution segment is estimated to witness significant growth during the forecast period.

The market is experiencing significant growth as digital insurance and customer service become increasingly important. Advanced technologies, such as data analytics, pricing strategies, cloud computing, and catastrophe modeling, are transforming the industry. InsurTech platforms facilitate customer interaction through chatbots and live support, enhancing the customer experience and driving retention. Marketing automation, social media marketing, and search engine optimization are essential tools for reaching new customers and expanding sales. Product development is accelerated through the use of IoT sensors, wearable technology, natural language processing, and AI algorithms. Operational efficiency is improved through remote monitoring, process automation, and blockchain technology.

Peer-to-peer and usage-based insurance models are gaining popularity, offering cost reduction and personalized coverage. Risk assessment is enhanced through predictive modeling and financial modeling, while fraud detection and policy management are streamlin

United States Exports: Services: Africa: Insurance: Direct data was reported at 14.000 USD mn in 2017. This records an increase from the previous number of 11.000 USD mn for 2016. United States Exports: Services: Africa: Insurance: Direct data is updated yearly, averaging 9.000 USD mn from Dec 1999 (Median) to 2017, with 19 observations. The data reached an all-time high of 16.000 USD mn in 2011 and a record low of 1.000 USD mn in 1999. United States Exports: Services: Africa: Insurance: Direct data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s United States – Table US.JA031: Trade Statistics: Services: Africa.

South Africa PE Ratio: FTSE/JSE: Non-life Insurance data was reported at 20.664 NA in Oct 2018. This records a decrease from the previous number of 21.895 NA for Sep 2018. South Africa PE Ratio: FTSE/JSE: Non-life Insurance data is updated monthly, averaging 19.290 NA from Apr 2013 (Median) to Oct 2018, with 67 observations. The data reached an all-time high of 28.052 NA in Feb 2018 and a record low of 10.369 NA in Aug 2016. South Africa PE Ratio: FTSE/JSE: Non-life Insurance data remains active status in CEIC and is reported by Johannesburg Stock Exchange. The data is categorized under Global Database’s South Africa – Table ZA.Z006: Johannesburg Stock Exchange: Price Earnings Ratio.

Crude rates and odds ratios of the association between mortality and risk factors of hospitalized COVID-19 patients.

United States Imports: Services: Africa: Insurance: Direct data was reported at 6.000 USD mn in 2016. This records a decrease from the previous number of 11.000 USD mn for 2015. United States Imports: Services: Africa: Insurance: Direct data is updated yearly, averaging 9.000 USD mn from Dec 1999 (Median) to 2016, with 18 observations. The data reached an all-time high of 24.000 USD mn in 2009 and a record low of 1.000 USD mn in 2003. United States Imports: Services: Africa: Insurance: Direct data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s USA – Table US.JA031: Trade Statistics: Services: Africa.

United States Imports: Services: Africa: Insurance data was reported at 46.000 USD mn in 2016. This records a decrease from the previous number of 48.000 USD mn for 2015. United States Imports: Services: Africa: Insurance data is updated yearly, averaging 36.500 USD mn from Dec 1999 (Median) to 2016, with 18 observations. The data reached an all-time high of 50.000 USD mn in 2008 and a record low of 1.000 USD mn in 2003. United States Imports: Services: Africa: Insurance data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s USA – Table US.JA031: Trade Statistics: Services: Africa.

United States Exports: Services: Africa: Insurance: Reinsurance data was reported at 94.000 USD mn in 2017. This records a decrease from the previous number of 101.000 USD mn for 2016. United States Exports: Services: Africa: Insurance: Reinsurance data is updated yearly, averaging 63.000 USD mn from Dec 1999 (Median) to 2017, with 19 observations. The data reached an all-time high of 101.000 USD mn in 2016 and a record low of 4.000 USD mn in 1999. United States Exports: Services: Africa: Insurance: Reinsurance data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s United States – Table US.JA031: Trade Statistics: Services: Africa.

As of 2023, 15.7 percent of all individuals in South Africa were members of medical aid schemes, which presents a slight decrease from 15.8 percent recorded in the previous year. Considering the total population in the period under review, this accounts for around 9.8 million residents having private medical care. This leaves approximately 53 million dependent on public health care, with a share of 84.2 percent. When comparing membership rates by population group, coverage by medical schemes were noticeably higher among white individuals (at 71.7 percent) and Indians/Asians (at 41.3 percent) than among colored (at 19.6 percent) and Black Africans (at 9.8 percent).