Journal of Business Research, 14(56): 59-86. They have a good understanding of their insurance needs and are reasonably involved in the purchase decision. In 2018, the global Whole Life Insurance market size was xx million US$ and it is expected to reach xx million US$ by the end of 2025, with a CAGR of 2.6% during 2019-2025. [12] (2015) Detecting the Migration of Customers of Mobile Services Using Fuzzy Clustering, Information & Managment 52(2): 227-238. Enquire on Global Whole Life Insurance Industry Analysis and Forecast (2020-2026) @ https://www.wiseguyreports.com/enquiry/4096949-global-whole-life-insurance-market-size-status-and-forecast-2019-2025, 1 Report Overview2 Global Growth Trends3 Market Share by Key Players4 Breakdown Data by Type and Application5 United States6 Europe7 China8 Japan9 Southeast Asia10 India11 Central & South America12 International Players Profiles13 Market Forecast 2019-202514 Analyst's Viewpoints/Conclusions15 Appendix, For Detailed Reading of Global Whole Life Insurance Market Research Report 2020 @ https://www.wiseguyreports.com/reports/4096949-global-whole-life-insurance-market-size-status-and-forecast-2019-2025, For more information or any query mail at sales@wiseguyreports.com. In addition, developments by these major developers are also studied and in-depth insights are provided in the report. In the current competitive environment, companies will be able to adjust business strategies, they use market segmentation based on practical ways rather than using traditional approaches or incomplete and impractical mass marketing. The data for the forecast period from the year 2020 to the year 2026 has been predicted based on the collated data. The Global Whole Life Insurance Industry has been divided into several smaller segments to ensure that the data collected is accurate and free from any errors. Liang Y. H. (2010) Integration of data mining technologies to analyze customer value for the automotive maintenance industry, Expert Systems with Applications, 37(12): 7489-7496. Segments include 1. household sector 2. industrial sector 3. trade sector … The data presented in the Global Whole Life Insurance Market report is a compilation of data identified and collected from various sources. Segmentation of the Deloitte 2018 Survey of US Consumers Since 2008, the Deloitte Center of Health Solutions (DCHS) has surveyed a nationally representative sample of US adults (18 and older) about their experiences and attitudes related to their health, health insurance, and health care. A holistic approach towards the examination of different plans and policies, and related strategies of all notable players functioning in the Global Whole Life Insurance Market is kept. Optimised press releases appear in Google News. Hiziroglu A. The report on the Universal Life Insurance market provides a bird’s eye view of the current proceeding within the Universal Life Insurance market. Bae S. M, Ha S. H., and Park S. Ch. Academia.edu is a platform for academics to share research papers. Activities of these key players are elaborated in the report. Global Whole Life Insurance Industry Method of Research. (2013) Mining of Customer data in an Automobile Industry using Clustering Techniques, International Journal of Emerging Technologies in Computational and Applied Sciences (IJETCAS). [4] (2011). W. (2012) Using the Taguchi method for effective market segmentation, Expert Systems with Applications, 39(5): 5451-5459. [15] Market Segmentation Life Insurance. Grover N. (2014) A study of various Fuzzy Clustering Algorithms. Global Life Insurance industry guide provides top-line qualitative and quantitative summary information including: market share, market size (value 2011-15, and forecast to 2020). Latest Market Analysis Research Report on “Global Whole Life Insurance Market 2020” has been added to Wise Guy Reports database. Wise Guy Reports understand how essential statistical surveying information is for your organization or association. The key players covered in this studyAllianz, AXA, Generali, Ping An Insurance, China Life Insurance, Prudential PLC, Munich Re, Zurich Insurance, Nippon Life Insurance, Japan Post Holdings, Berkshire Hathaway, Metlife, Manulife Financial, CPIC, Chubb, AIG, Aviva, Allstate, Swiss RE, Prudential Financial, Travelers, AIA, Aflac, Legal & General, Try Free Sample of Global Whole Life Insurance Market @   https://www.wiseguyreports.com/sample-request/4096949-global-whole-life-insurance-market-size-status-and-forecast-2019-2025, Whole Life Insurance Industry Key Players. Creative Commons Attribution 4.0 International License. One of the major analysis methods used to categorize the data collected is Porter's Five Forces Model. Connect with us via the social networks Twitter, Facebook, LinkedIn, Google+ and Pinterest, https://www.wiseguyreports.com/sample-request/4096949-global-whole-life-insurance-market-size-status-and-forecast-2019-2025, https://www.wiseguyreports.com/enquiry/4096949-global-whole-life-insurance-market-size-status-and-forecast-2019-2025, https://www.wiseguyreports.com/reports/4096949-global-whole-life-insurance-market-size-status-and-forecast-2019-2025, Transportation & Logistics Industry Today. Results show that the optimal number of clusters was 2 which were named as "investment" and "life safety". Some suggestions are presented to improve the performance of the insurance company. Further, the report also takes into account the impact of the novel COVID-19 pandemic on the Universal Life Insurance market and offers a clear assessment of the projected market fluctuations during the forecast period. Press Release Universal Life Insurance Market 2020 Global Trend, Segmentation and Opportunities Forecast To 2026 Published: Oct. 16, 2020 at 2:24 p.m. This first market segment within the car insurance market is attracted to insurance products that offer flexibility and the ability to add and subtract components of the insurance cover. Latest Market Analysis Research Report on “Global Whole Life Insurance Market 2020” has been added to Wise Guy Reports database. [21] Pune, India - June 4, 2019 /MarketersMedia/ — Universal Life Insurance Market 2019-2025 Description: - Universal life insurance is a type of cash value life insurance, under the terms of the policy, the excess of premium payments above the current cost of insurance is credited to the cash value of the policy, which is credited each month with interest. [10] The “ Life Insurance & Annuity Software market”report covers the overview of the market and presents the information on business development, market size, and share scenario. Press release - Market Growth Insight - Child Life Insurance Market Overview, Manufacturing Cost Structure Analysis, Growth Opportunities by 2026 - published on openPR.com About UsWise Guy Reports is part of the Wise Guy Consultants Pvt. Yoo I., Alafaireet P., Marinov M., Pena-Hernandez K., Gopidi R., Chang J. F. and Hua L. (2012) Data Mining in Healthcare and Biomedicine: A Survey of the Literature, Journal of medical system, 36(4): 2431-2448. International Letters of Social and Humanistic Sciences. The guide also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. [11] The market share that the different regions occupy with respect to the global market during the base period from the year 2020 to the year 2026 has been identified after extensive research and is presented in the report. This is because the company deals in general insurance, life insurance and several other types of insurance. [13] This data is collected according to the different regions mentioned in the report that include Asia-Pacific, Europe, North America, South America, the Middle East, and Africa. The global life insurance providers market is expected to decline from $1700.8 billion in 2019 to $1612.8 billion in 2020 at a compound annual growth rate (CAGR) of … Life insurance is a contract whereby the insurer, in exchange for a premium, undertakes to pay insured in case of death or life or the end of the insurance capital as a lump sum to beneficiaries or users (Bakhshi 2011). In 2020, … Thomas B. and Nashipudimath M. (2012) Comparative Analysis Of Fuzzy Clustering Algorithms In Data Mining, International Journal of Advanced Research in Computer Science and Electronics Engineering (IJARCSEE), 1(7): 221-225. The research report on Life Insurance Software market largely comprises a detailed segmentation of this business vertical that is anticipated to amass substantial proceeds over the forecast timeline, registering momentous annual growth rate throughout the foreseeable duration. dependants. customers) into smaller subgroups. Global Whole Life Insurance Market Regional Description. [2] To penetrate the market, life insurance companies need to earn- out market segmentation so as to come up with products that would best address the life insurance via agents and brokers, who tend to focus on a more affluent audience The company recognized an underserved middle market, broadly defined as 25-45 years old and $150K income or less MetLife developed a new channel – direct to consumer – to serve the middle market [6] The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations; travel bans and quarantines; restaurants closed; all indoor events restricted; over forty countries state of emergency declared; massive slowing of the supply chain; stock market volatility; falling business confidence, growing panic among the population, and uncertainty about future. Detailed and extensive market segments with regional distribution of forecasted revenues, Extensive profiles and recent developments of market players. The dominance of certain marketing strategies of key players are discussed. Ltd. offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe. Indonesia Market Segmentation is the process of dividing a market into direct groups of buyers who might require separate products or marketing mixes. In the current c ompetitive environment, companies will be able to adjust business 61, pp. COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets. Wu R. Sh. On considering the major events of these prominent players, the report details factors that are crucial to investors. The different factors that can be responsible for boosting the market growth include advancements in technology that can speed up the production rate or new materials that can be used to reduce the manufacturing cost while offering greater durability. [14] Karimi A. yatollah (2012) General insurance (second edition). The predicted market share that the regions may occupy is identified after analyzing the export and import of different products/services in the different regions mentioned above. 524/528Amanora Chambers Magarpatta Road,HadapsarPune411028+91 8390122541https://www.wiseguyreports.com. The data presented in the Global Whole Life Insurance Market report identifies different factors that are crucial for market growth during both the forecast and the base period. The data for the forecast period from the year 2020 to the year 2026 is also presented in the report after extensive market research to ensure that the data is accurate. Contact Us:Norah Trent+1 646 845 9349 / +44 208 133 9349Follow on LinkedIn: https://www.linkedin.com/company/wise-guy-research-consultants-pvt-ltd-?trk=biz-companies-cym, WISEGUY RESEARCH CONSULTANTS PVT LTDWISEGUY RESEARCH CONSULTANTS PVT LTDOffice No. [8] The data presented in the report is from the year 2020 to the year 2026 that comprises the base period. Lim Ch. life insurance industry Deloitte surveyed over 1,700 middle market buyers and non-buyers of life insurance in the United States to understand how Life Insurance companies might better equip themselves to effectively reach an underserved market segment. Follow us on Twitter @IndustryToday The segmentation helps the insurance organization in dividing the market into small segments where the customer needs are identical. International Journal of Engineering Research (IJER), 3(3): 177-181. In the current competitive environment, companies will be able to adjust business strategies, they use market segmentation based on practical ways rather than using traditional approaches or incomplete and impractical mass marketing. Sithic H. L. and Balasubramanian T. (2013) Survey of Insurance Fraud Detection Using Data Mining Techniques, International Journal of Innovative Technology and Exploring Engineering (IJITEE), 2(3): 62-65. Life insurance penetration is a mere 0.81 percent of total population of people in Kenya which is quite low compared to other countries where life insurance is taken as a must have item. (2005) A web-based system for analyzing the voices of call center customers in the service industry, Expert Systems with Applications, 28(1): 29-41. Section 7 Global Whole juvenile life insurance Market Segmentation (Channel Level) Section 8 Whole juvenile life insurance Market Forecast 2020-2025 The data that is presented in the report is a vital source of guidance to both companies and individuals interested in the Global Whole Life Insurance Market and provides different information related to the Global Whole Life Insurance Industry. Posted via Industry Today. Whole of Life Assurance Market 2020 Global Trend, Segmentation and Opportunities, Forecast 2025. Wise Guy Research Consultants Pvt. [1] 17-24, 2015, The Knowledge of Lexical Collocation among University Students and its Relation to their Speaking Proficiency, Segmentation of Life Insurance Customers Based on their Profile Using Fuzzy Clustering, Relationship of Training and Motivation with Teachers’ Performance: A Case of Public and Private Schools of Southren Punjab, Influence of Psychological Empowerment on Organizational Commitment among Medical Employees in a Hospital Setting, The Spatial Distribution of Atmospheric Conditions, Severe Storms Zab Basin in Iran (A Case Study of Cut off Low Synoptic Pattern), Synoptic Pattern of Deep Trough Led to Strong Winds of Zab Basin in Iran, The Effect of Living in the Present Time, Healthy Character Development and Social Character Growth of Staff on their Performance (Case Study: Clinical and Paraclinical Areas of Ahwaz Imam Khomeini Hospital), Effects of Two Methods on Student’s Achievement in Junior Secondary Schools in Yakurr, Cross River State, The (In)Visible Eye of Authority: Notes on Surveillance in Paul Auster’s Ghosts, The Effect of Government Policy on Housing Delivery in Nigeria: A Case Study of Port Harcourt Low Income Housing Programme, Governance of Citizen Participation and its Related Concepts: A Review of Literature, Determinants of Competitiveness in Textile Industry of Pakistan, An Investigation into the Impact of International Trade in the Growth of Nigeria’s Economy, The Use of Fantasy in Doris Lessing’s Selected Fictions, The Impact of Intellectual Capital Performance on the Profitability of Companies: Evidence from Tehran Stock Exchange, Measuring the Productivity of Capital in the Industrial Sector of Sistan and Baloochestan State, Iran, https://doi.org/10.18052/www.scipress.com/ILSHS.61.17, Creative Commons Attribution 4.0 International License, https://doi.org/10.1016/j.eswa.2004.08.008, https://doi.org/10.1016/j.eswa.2014.09.044, https://doi.org/10.1016/j.eswa.2013.05.052, https://doi.org/10.1016/j.eswa.2011.11.040, https://doi.org/10.1016/j.eswa.2010.04.097, https://doi.org/10.1108/ijrdm-01-2013-0012, https://doi.org/10.1016/j.elerap.2010.11.002, https://doi.org/10.1016/j.egypro.2012.02.147, https://doi.org/10.1007/s10916-011-9710-5, Seestrasse 24c, CH-8806 Bach, Switzerland. International Letters of Social and Humanistic Sciences (Volume 61), G. Jandaghi and Z. Moradpour, "Segmentation of Life Insurance Customers Based on their Profile Using Fuzzy Clustering", International Letters of Social and Humanistic Sciences, Vol. Each product or services is tailored to match the needs of the customer group. Rethinking customer segmentation Traditionally, insurance organizations tried to glean directional insights about their customers’ needs, attitudes, and behaviors through demographics. Non-participating Whole LifeParticipating Whole LifeOther, Market segment by Application, split intoAgencyBrokersBancassuranceDigital & Direct Channels, Global Whole Life Insurance Industry Drivers and Constraints. [17] Understanding the Opportunistic Buyer Segment The opportunistic buyer purchases life insurance because it is offered to them, often through work. Industrial Management Studies, 11(30): 77-97. Market segmentation is the process in marketing of grouping a market (i.e. Keywords: Market segmentation, customer segmenta tion, data mining, clustering, life insurance ABSTRACT. From the above table, it is understood that the market for insurance is divided into segments and sub-segments. Hanafizadeh P. and Rastkhyz Paydar N. (2012) Comparison of two methods of data mining segmentation car insurance customers by risk (Case Study: Insurance Company nations). An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations. Singh A. and Rana A. Expert Systems with Applications, 42(3): 1637-1643. This identifies and categorizes the data according to five distinct parameters. This is not something that is arbitrarily imposed on society: it is derived from ... from life insurance as product, customer not only buys product but also services in the form of The data is presented from the year 2020 to the year 2026 for the base period and is predicted for the forecast period from the year 2020 to the year 2026. Popular market trends during both the base period and the forecast period have been identified along with the market growth that they can achieve. ET Subscribe to our Newsletter and get informed about new publication regulary and special discounts for subscribers! Visit www.industrytoday.co.uk to publish and distribute news from your Industry. Life & Health Insurance Agency Management Software research study is to define market sizes of various segments & countries by past years and … Yan-li Z. and Jia Z. Comprehensive research methodology of Global Whole Life Insurance Market. (2013) Soft computing applications in customer segmentation: State-of-art review and critique, Expert Systems with Applications, 40(16): 6491-6507. 5(3): 251-258. and Chou P. H. (2011) Customer segmentation of multiple category data in e-commerce using a soft-clustering approach, Electronic Commerce Research and Applications, 10(3): 331-341.