MOTOR AND MEDICAL TO REMAIN THE LARGEST GROWTH SEGMENT OF THE JORDAN INSURANCE MARKET: KEN RESEARCH

The compulsory motor third party insurance and high quality healthcare services are expected to result in continued significant growth in these two segments which ultimately would propel the insurance market of Jordan until 2017.  

Motor is the largest segment in the non-life insurance market of Jordan. The two main types of policies available under this segment include fully comprehensive and third party liability coverage (TPL). Third party liability coverage is the most popular motor insurance product in Jordan and is also the minimum compulsory level of coverage for motor insurance in the country. The newly introduced regulations according to which the insurers can reward the vehicle owners with good driving history by charging low premiums while can increase premiums on the motorists with riskier track records has helped in driving the growth of the motor insurance market in the country. Besides this the limits of indemnities for death and total disability have also been increased recently which has increased the consumer demand for motor insurance products. Similarly, medical insurance is the second largest non-life insurance segment in the country. The medical insurance market of Jordan mainly caters to the private sector, and the growing privatization, population and high healthcare expenditure has benefited the medical insurance market during 2007-2012.     

“The compulsory insurance such as motor third party liability has significantly contributed in the growth of the sector as presently this is the largest segment in Jordan’s insurance market. The implementation of a compulsory medical insurance for private sector employees and compulsory earthquake insurance for property owners is also in consideration by the IC.” – According to the research report ‘Jordan Insurance Industry Outlook to 2017 – Supported by Growth in Non-life Insurance’ by Ken Research.

Medical insurance is already the fastest growing segment in the insurance sector and the introduction of these compulsory schemes would substantially contribute in the growth of the market in future.

The report provides detailed overview on the insurance market in Jordan and helps readers to identify the ongoing trends in the key segments of the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will aid industry consultants, insurance companies and other stakeholders to align their market centric strategies according to ongoing and expected trends in future.

For More Deatils Please Click On Following Link:

http://www.kenresearch.com/banking-financial-service-insurance/insurance/jordan-insurance-market-research-report/426-93.html

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