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The Canada Property and Casualty Insurance Market is segmented by Insurance Type (Home, Motor, and Other Insurance Types) and Distribution Channel (Direct, Agents, Banks, and Other Distribution Channels).
2016 - 2026
The Canadian property and casualty insurance market is expected to register a CAGR of approximately 2% during the forecast period.
This report aims to provide a detailed analysis of the property and casualty insurance market in Canada. It focuses on the market dynamics, emerging trends in the segments and regional markets, and insights into various product and application types. Additionally, it analyzes the key players and the competitive landscape in the property and casualty insurance market in Canada.
|By Insurance Type|
|Other Insurance Types|
|By Distribution Channel|
|Other Distribution Channels|
Report scope can be customized per your requirements. Click here.
Non-life insurers increasingly use AI and machine learning across customer-facing and back-end applications. The objective is to better assess risks in underwriting, strengthen fraud detection, improve customer experiences, and reduce operating overhead. While P&C insurers have been slower to digitize, telematics use has picked up sharply. Similarly, mobile applications and web portals are more commonly used by brokers and consumers for efficient claims submission and processing. Ultimately, these technologies help reduce administrative overhead and improve the customer experience.
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Net written premium is increasing Y-o-Y. Majority of the premium was received from auto insurance, which nearly contributed 44.1% to the net written premium. This is expected to increase further in the coming years. The government is planning to change the auto insurance policies, as vehicles with fully automated capabilities are expected to launch in Canada. In 2018, out of the total net premium written, personal property’s share was 22.2%, commercial property was 14.2%, liability was 10.2%, specialized was 7.1%, and accident and sickness was 2.3%.
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The report covers the major players operating in the property and casualty insurance market in Canada. The market is consolidated, and it is expected to grow during the forecast period, due to several factors that are driving the market.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Insurance Type
5.1.3 Other Insurance Types
5.2 By Distribution Channel
5.2.4 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Mergers and Acquisitions
6.3 Company Profiles
6.3.1 Intact Group
6.3.2 Aviva Group
6.3.3 Desjardins Group
6.3.4 Co-operators Group
6.3.5 TD Insurance Group
6.3.6 Wawanesa Mutual Insurance Company
6.3.7 RSA Group
6.3.8 Economical Group
6.3.9 Travelers Group
6.3.10 Northbridge Group
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject to Availability