Insurance Advertising Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027, By Type (Life Insurance Vs. Non-Health Insurance)), By Advertisement Channel (Television, Email, Sales Calls, and Others (Websites, Blogs, etc.), By Application (Direct Marketing, Network Marketing, Mobile Marketing, and Others), By Region, By Competition

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Summary

Report Description

A legal contract known as insurance provides financial protection or payment to a person from an insurance company in the event of a default. Client risks are minimized to lower premium costs for the insured. Insurance advertising is any form of media that aims to persuade consumers or businesses to buy insurance. Direct mail could be used to convince a potential customer to be more receptive to sales calls, or any number of other strategies could be used. Advertisements for insurance frequently highlight an insurer's willingness to resolve claims.

Insurance advertising helps consumers discover new products or services and learn about the upcoming insurances of new market players. On the other hand, it allows marketers to inform consumers about their latest goods and services while also releasing new, helpful information. Additionally, it is used to spread messages to uninsured people. In addition, the use of electronic devices such as smartphones, laptops, and tablets has increased, and this, along with an increase in internet users, has broadened the reach of digital insurance advertising.

Technological Advancement Propels the Market Growth

Technology up gradation promotes the adoption of suitable contemporary technology. Additionally, this would help micro, small & medium enterprises (MSMEs) acquire skills that improve their viability in the global market. In modern times, companies are focusing on adapting new technologies for their products to attract consumers. For instance, AI can be used by a single insurer to present a small team managing the insurance company. Artificial Intelligence (AI) and machine learning-based technologies may be able to comprehend human behavior and provide clients with appropriate answers without human involvement. AI will be able to identify customers and help website designers and marketers shorten and automate their lead cycle. Fraud costs insurance companies USD40 billion annually. AI will act as a security component to prevent fraud, allowing insurance companies to easily track down a client's primary data and find false patterns that suggest the client has committed fraud.

Increasing Spending On Advertising By Ad Agencies Propels the Market Growth

Global ad agencies consistently increase their spending on entertainment, out-of-home, and digital advertising. These are expected to fuel the global insurance advertising market's expansion positively. For instance, In 2021, healthcare behemoth, a US-based company, launched cutting-edge brands and worked to coordinate better its Optum health services, which provide assistance with the medical insurance it sells. Moreover, in 2021, Max Life Insurance Company Ltd., an Indian company, launched the ad campaign 'India ke Bharose ka Number,' highlighting the company's consistent performance in claims paid ratio over the previous five years. The fact that Max Life's claims paid balance has surpassed all last 5-year records. It is now 99.35% is an excellent indication of the confidence customers have in the company to help them through unforeseen and difficult circumstances. Hence, companies are increasing their spending to increase the demand for their product.


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Market Segmentation

The global insurance advertising market is segmented based on type, advertisement channel, application, region, and competitional landscape. Based on type, the market is segmented into life insurance vs. non-health insurance. Based on advertisement channels, the market is segmented into television, email, sales calls, and others (Websites, Blogs, etc.). Based on application, the market is segmented into direct marketing, network marketing mobile marketing, and others. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among North America, Europe, Asia-Pacific, South America, and Middle East & Africa.

Company Profile      

United Health Group, Liberty Mutual Insurance Company, GEICO, Nationwide Mutual Insurance Company, Berkshire Hathaway Inc., Progressive Casualty Insurance Company, MetLife Services and Solutions, LLC., State Farm Mutual Automobile Insurance Company, Nationwide Mutual Insurance Company, Admiral Group Plc are the major market players in the global platform that lead the market growth of the global insurance advertising market.

Attribute

Details

Base Year

2021

Historical Years

2017 – 2021

Estimated Year

2022

Forecast Period

2023 – 2027

Quantitative Units

Revenue in USD Billion and CAGR for 2017-2021 and 2022-2027

Report Coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

·         Type

·         Advertisement Channel

·         Application

·         Region

·         Competition

Regional Scope

North America, Europe, Asia-Pacific, Middle East & Africa, and South America

Country Scope

United States, Canada, Mexico, France, Germany, United Kingdom, Italy, Spain, China, India, Japan, South Korea, Australia, South Africa, Saudi Arabia, UAE, Turkey, Brazil, Argentina, Colombia

Key Companies Profiled

United Health Group, Liberty Mutual Insurance Company, GEICO, Nationwide Mutual Insurance Company, Berkshire Hathaway Inc., Progressive Casualty Insurance Company, MetLife Services and Solutions, LLC., State Farm Mutual Automobile Insurance Company, Nationwide Mutual Insurance Company, Admiral Group Plc, etc.

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail of customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

 

Report Scope:

In this report, the global insurance advertising market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  •   Insurance Advertising Market, By Type:
    • Life Insurance
    • Non-Health Insurance
  • Insurance Advertising Market, By Advertisement Channel:
    • Television
    •  Email
    •  Sales Calls
    •  Others
  • Insurance Advertising Market, By Application:
    • Direct Marketing
    • Network Marketing
    • Mobile Marketing
    • Others

·           Insurance Advertising Market, By Region:

  • North America
    • The United States
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • The United Kingdom
    • Italy
    • Spain
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Turkey
  • South America
    • Brazil
    • Argentina
    • Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the global insurance advertising market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).


Table of content

1.    Product Overview

2.    Research Methodology

3.    Executive Summary

4.    Impact of COVID-19 on Global Insurance Advertising Market

5.    Voice of Customer

6.    Global Insurance Advertising Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value

6.2.  Market Share & Forecast

6.2.1.     By Type (Life Insurance Vs. Non-Health Insurance))

6.2.2.     By Advertisement Channel (Television, Email, Sales Calls, and Others (Websites, Blogs, etc.)

6.2.3.     By Application (Direct Marketing, Network Marketing, Mobile Marketing, and Others)

6.2.4.     By Region

6.2.5.     By Company

6.3.  Market Map

7.    North America Insurance Advertising Market Outlook

7.1.  Market Size & Forecast          

7.1.1.     By Value

7.2.  Market Share & Forecast

7.2.1.     By Type

7.2.2.     By Advertisement Channel

7.2.3.     By Application

7.2.4.     By Country (United States; Canada; Mexico and Rest of North America)

7.3.  North America: Country Analysis

7.3.1.     United States Insurance Advertising Market Outlook

7.3.1.1.         Market Size & Forecast

7.3.1.1.1.             By Value

7.3.1.2.         Market Share & Forecast

7.3.1.2.1.             By Type

7.3.1.2.2.             By Advertisement Channel

7.3.1.2.3.             By Application

7.3.2.     Canada Insurance Advertising Market Outlook

7.3.2.1.         Market Size & Forecast

7.3.2.1.1.             By Value

7.3.2.2.         Market Share & Forecast

7.3.2.2.1.             By Type

7.3.2.2.2.             By Advertisement Channel

7.3.2.2.3.             By Application

7.3.3.     Mexico Insurance Advertising Market Outlook

7.3.3.1.         Market Size & Forecast

7.3.3.1.1.             By Value

7.3.3.2.         Market Share & Forecast

7.3.3.2.1.             By Type

7.3.3.2.2.             By Advertisement Channel

7.3.3.2.3.             By Application

8.    Europe Insurance Advertising Market Outlook

8.1.  Market Size & Forecast          

8.1.1.     By Value

8.2.  Market Share & Forecast

8.2.1.     By Type

8.2.2.     By Advertisement Channel

8.2.3.     By Application

8.2.4.     By Country (France; Germany; UK; Italy; Spain and Rest of Europe)

8.3.  Europe: Country Analysis

8.3.1.     France Insurance Advertising Market Outlook

8.3.1.1.         Market Size & Forecast

8.3.1.1.1.             By Value

8.3.1.2.         Market Share & Forecast

8.3.1.2.1.             By Type

8.3.1.2.2.             By Advertisement Channel

8.3.1.2.3.             By Application

8.3.2.     Germany Insurance Advertising Market Outlook

8.3.2.1.         Market Size & Forecast

8.3.2.1.1.             By Value

8.3.2.2.         Market Share & Forecast

8.3.2.2.1.             By Type

8.3.2.2.2.             By Advertisement Channel

8.3.2.2.3.             By Application

8.3.3.     United Kingdom Insurance Advertising Market Outlook

8.3.3.1.         Market Size & Forecast

8.3.3.1.1.             By Value

8.3.3.2.         Market Share & Forecast

8.3.3.2.1.             By Type

8.3.3.2.2.             By Advertisement Channel

8.3.3.2.3.             By Application

8.3.4.     Italy Insurance Advertising Market Outlook

8.3.4.1.         Market Size & Forecast

8.3.4.1.1.             By Value

8.3.4.2.         Market Share & Forecast

8.3.4.2.1.             By Type

8.3.4.2.2.             By Advertisement Channel

8.3.4.2.3.             By Application

8.3.5.     Spain Insurance Advertising Market Outlook

8.3.5.1.         Market Size & Forecast

8.3.5.1.1.             By Value

8.3.5.2.         Market Share & Forecast

8.3.5.2.1.             By Type

8.3.5.2.2.             By Advertisement Channel

8.3.5.2.3.             By Application

9.    Asia-Pacific Insurance Advertising Market Outlook

9.1.  Market Size & Forecast          

9.1.1.     By Value

9.2.  Market Share & Forecast

9.2.1.     By Type

9.2.2.     By Advertisement Channel

9.2.3.     By Application

9.2.4.     By Country (China; India; Japan; South Korea; Australia; and Rest of Asia Pacific)

9.3.  Asia-Pacific: Country Analysis

9.3.1.     China Insurance Advertising Market Outlook

9.3.1.1.         Market Size & Forecast

9.3.1.1.1.             By Value

9.3.1.2.         Market Share & Forecast

9.3.1.2.1.             By Type

9.3.1.2.2.             By Advertisement Channel

9.3.1.2.3.             By Application

9.3.2.     India Insurance Advertising Market Outlook

9.3.2.1.         Market Size & Forecast

9.3.2.1.1.             By Value

9.3.2.2.         Market Share & Forecast

9.3.2.2.1.             By Type

9.3.2.2.2.             By Advertisement Channel

9.3.2.2.3.             By Application

9.3.3.     Japan Insurance Advertising Market Outlook

9.3.3.1.         Market Size & Forecast

9.3.3.1.1.             By Value

9.3.3.2.         Market Share & Forecast

9.3.3.2.1.             By Type

9.3.3.2.2.             By Advertisement Channel

9.3.3.2.3.             By Application

9.3.4.     South Korea Insurance Advertising Market Outlook

9.3.4.1.         Market Size & Forecast

9.3.4.1.1.             By Value

9.3.4.2.         Market Share & Forecast

9.3.4.2.1.             By Type

9.3.4.2.2.             By Advertisement Channel

9.3.4.2.3.             By Application

9.3.5.     Australia Insurance Advertising Market Outlook

9.3.5.1.         Market Size & Forecast

9.3.5.1.1.             By Value

9.3.5.2.         Market Share & Forecast

9.3.5.2.1.             By Type

9.3.5.2.2.             By Advertisement Channel

9.3.5.2.3.             By Application

10.  Middle East and Africa Insurance Advertising Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Value

10.2.              Market Share & Forecast

10.2.1.  By Type

10.2.2.  By Advertisement Channel

10.2.3.  By Application

10.2.4.  By Country (UAE; Saudi Arabia; South Africa and Rest of Middle East & Africa)

10.3.              MEA: Country Analysis

10.3.1.  South Africa Insurance Advertising Market Outlook

10.3.1.1.      Market Size & Forecast

10.3.1.1.1.           By Value

10.3.1.2.      Market Share & Forecast

10.3.1.2.1.           By Type

10.3.1.2.2.           By Advertisement Channel

10.3.1.2.3.           By Application

10.3.2.  Saudi Arabia Insurance Advertising Market Outlook

10.3.2.1.      Market Size & Forecast

10.3.2.1.1.           By Value

10.3.2.2.      Market Share & Forecast

10.3.2.2.1.           By Type

10.3.2.2.2.           By Advertisement Channel

10.3.2.2.3.           By Application

10.3.3.  UAE Insurance Advertising Market Outlook

10.3.3.1.      Market Size & Forecast

10.3.3.1.1.           By Value

10.3.3.2.      Market Share & Forecast

10.3.3.2.1.           By Type

10.3.3.2.2.           By Advertisement Channel

10.3.3.2.3.           By Application

10.3.4.  Turkey Insurance Advertising Market Outlook

10.3.4.1.      Market Size & Forecast

10.3.4.1.1.           By Value

10.3.4.2.      Market Share & Forecast

10.3.4.2.1.           By Type

10.3.4.2.2.           By Advertisement Channel

10.3.4.2.3.           By Application

11.  South America Insurance Advertising Market Outlook

11.1.              Market Size & Forecast

11.1.1.  By Value

11.2.              Market Share & Forecast

11.2.1.  By Type

11.2.2.  By Advertisement Channel

11.2.3.  By Application

11.2.4.  By Country (Brazil; Argentina; Colombia; and Rest of South America)

11.3.              South America: Country Analysis

11.3.1.  Brazil Insurance Advertising Market Outlook

11.3.1.1.      Market Size & Forecast

11.3.1.1.1.           By Value

11.3.1.2.      Market Share & Forecast

11.3.1.2.1.           By Type

11.3.1.2.2.           By Advertisement Channel

11.3.1.2.3.           By Application

11.3.2.  Argentina Insurance Advertising Market Outlook

11.3.2.1.      Market Size & Forecast

11.3.2.1.1.           By Value

11.3.2.2.      Market Share & Forecast

11.3.2.2.1.           By Type

11.3.2.2.2.           By Advertisement Channel

11.3.2.2.3.           By Application

11.3.3.  Colombia Insurance Advertising Market Outlook

11.3.3.1.      Market Size & Forecast

11.3.3.1.1.           By Value

11.3.3.2.      Market Share & Forecast

11.3.3.2.1.           By Type

11.3.3.2.2.           By Advertisement Channel

11.3.3.2.3.           By Application

12.  Market Dynamics

12.1.              Drivers

12.2.              Challenges

13.  Market Trends & Developments

14.  Competitive Landscape

14.1.              Company Profiles

14.1.1.  United Health Group

14.1.2.  Liberty Mutual Insurance Company

14.1.3.  GEICO

14.1.4.  Nationwide Mutual Insurance Company

14.1.5.  Berkshire Hathaway Inc.

14.1.6.  Progressive Casualty Insurance Company

14.1.7.  MetLife Services and Solutions, LLC.

14.1.8.  State Farm Mutual Automobile Insurance Company

14.1.9.  Nationwide Mutual Insurance Company

14.1.10.                Admiral Group Plc

15.  Strategic Recommendations

16.  About Us & Disclaimer

 (Note: The companies list can be customized based on the client requirements.)

Figures and Tables

Frequently asked questions

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The key factors driving the growth of insurance advertising are that advertising agencies worldwide are steadily increasing the amount they spend on entertainment, out-of-home, and digital advertising. These are expected to fuel the expansion of the insurance advertising market positively.

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In terms of regions, the market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Among these, Asia-Pacific dominated the market and is expected continue to maintain its dominance during the forecast period. Rapid economic development, commercialization, digitalization, potent government initiatives, are expected to boost the APAC region's market.

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Lack of standards and protocols and a lack of integration with legacy systems are limiting market expansion. Legacy systems may have serious flaws because they lack clear interfaces and documentation. The possibility of errors such as inadequate data increases because legacy systems occasionally don't have clearly defined interfaces. These are the potential barriers to expanding the insurance advertising market.

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The top 10 players in the global insurance advertising market are United Health Group, Liberty Mutual Insurance Company, GEICO, Nationwide Mutual Insurance Company, Berkshire Hathaway Inc., Progressive Casualty Insurance Company, MetLife Services and Solutions, LLC., State Farm Mutual Automobile Insurance Company, Nationwide Mutual Insurance Company, and Admiral Group Plc., etc.

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Parvati Sharma

Account Manager BD
Press Release

Insurance Advertising Market to Grow with an Impressive Rate During the Forecast Period

Oct, 2022

Technological advancements, rising internet usage, and advertising agencies worldwide are continually increasing their advertising budgets, fueling the expansion of the insurance advertising market.

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