Information on US Specialty Insurance Market Research Report by Type, by Form of Coverage, by Distribution Channel, by End User Industry Forecast to 2032

Description

List of Tables

Information on US Specialty Insurance Market Research Report by Type (Professional Liability Insurance, Marine, Aviation, and Transport (MAT) Insurance, Cyber Insurance, environmental liability insurance, construction and engineering insurance, event insurance, and trade credit insurance), by Form of Coverage (Single Risk Coverage, Multi-risk Coverage, and Group Coverage), by Distribution Channel, by End User Industry (Healthcare, Construction, Aerospace, Energy and Utilities, Transportation, Technology and IT, Entertainment, Retail and Wholesale, Manufacturing, Agriculture, Financial Services, and Others) Forecast to 2032

Market Overview

It is anticipated that the US Specialty Insurance Market will exhibit a significant compound annual growth rate (CAGR) of 13.4% during the forecast period. Specialty insurance refers to insurance products that are specifically engineered to mitigate distinctive or niche hazards that are not typically included in standard insurance policies. Customized coverage for highly specialized hazards is frequently provided by these types of insurance, which are designed to meet the specific requirements of specific industries, activities, or individuals.

The US specialty insurance market is being fuelled by the evolving regulatory landscape and the escalating complexity and frequency of risks. Furthermore, the market is undergoing growth because of technological advancements and digital transformation. Additionally, the development of the specialty insurance market in the United States is being hindered by market competition, pricing pressure, and the lack of standardization in specialty insurance products. Nevertheless, the market will experience growth opportunities in the future because of the launch and extension of specialty insurance, the expansion of niche markets, and the partnership and acquisition associated with specialty insurance.

Market Segmentation

The United States specialty insurance market has been structured into the following categories: Professional Liability Insurance, Marine, Aviation, and Transport (MAT) Insurance, Cyber Insurance, environmental liability insurance, construction and engineering insurance, event insurance, and trade credit insurance. The classifications are determined by the type of insurance.

The market has been categorized into three groups: Single Risk Coverage, Multi-risk Coverage, and Group Coverage, according to the type of coverage. The Multi-risk Coverage segment is the fastest-growing segment during the forecast period (2024-2032), while the Single Risk Coverage segment held the largest market share in 2023.

The US specialty insurance market has been divided into four categories: Direct Sales, Brokers and Agents, Online Channels, and Third-Party Administrators (TPAs). The distribution channel is the basis for these categories. The Brokers and Agents segment is the fastest-growing segment during the forecast period (2024-2032) and held the largest market share in 2023.

The market has been divided into the following segments: Healthcare, Construction, Aerospace, Energy and Utilities, Transportation, Technology and IT, Entertainment, Retail and Wholesale, Manufacturing, Agriculture, Financial Services, and Others. The end user industry is the basis for these segments.

Major Players

The primary players in the market are AXA, Munich Re, Allianz, American International Group, Inc. (AIG), Chubb, Great American Insurance, State Farm Insurance, Zurich Insurance Company, Tokio Marine HCC, Odyssey Group, Crum & Forster, Argo Group international Holdings, Ltd., and NSM Insurance Group.

1 EXECUTIVE SUMMARY

2 MARKET INTRODUCTION

2.1 DEFINITION
2.2 SCOPE OF THE STUDY
2.3 RESEARCH OBJECTIVE
2.4 MARKET STRUCTURE

3 RESEARCH METHODOLOGY

3.1 OVERVIEW
3.2 DATA FLOW
- 3.2.1 Data Mining Process
3.3 PURCHASED DATABASE:
3.4 SECONDARY SOURCES:
- 3.4.1 Secondary Research data flow:
3.5 PRIMARY RESEARCH:
- 3.5.1 Primary Research DATA FLOW:
- 3.5.2 Primary Research: Number of Interviews conducted
3.6 APPROACHES FOR MARKET SIZE ESTIMATION:
- 3.6.1 Revenue Analysis Approach
3.7 DATA FORECASTING
- 3.7.1 Data forecasting Technique
3.8 DATA MODELING
- 3.8.1 microeconomic factor analysis:
- 3.8.2 Data modeling:
3.9 TEAMS AND ANALYST CONTRIBUTION

4 MARKET DYNAMICS

4.1 INTRODUCTION
4.2 DRIVERS
- 4.2.1 Increasing Complexity and Frequency of Risks
- 4.2.2 Evolving Regulatory Landscape
- 4.2.3 Launch and expansion of specialty insurance
4.3 RESTRAINTS
- 4.3.1 Market Competition and Pricing Pressure
- 4.3.2 Lack of Standardization in Specialty Insurance Products
4.4 OPPORTUNITY
- 4.4.1 Niche Market Expansion
- 4.4.2 Partnership and Acquisition Associated with specialty insurance
- 4.4.3 Growing funding and investment associated with Specialty insurance

5 MARKET FACTOR ANALYSIS

5.1 SUPPLY CHAIN ANALYSIS
- 5.1.1 Reinsurers
- 5.1.2 Primary Insurers
- 5.1.3 Brokers and Agents
- 5.1.4 Third-Party Administrators (TPAs)
- 5.1.5 Technology Providers and Insurtech Firms
- 5.1.6 Policyholders
- 5.1.7 Regulators and Industry Bodies
- 5.1.8 Loss Adjusters and Claims Inspectors
5.2 PORTER'S FIVE FORCES MODEL
- 5.2.1 Threat of New Entrants
- 5.2.2 BARGAINING POWER OF SUPPLIERS
- 5.2.3 Threat of Substitutes
- 5.2.4 Bargaining Power of Buyers
- 5.2.5 Intensity of Rivalry
5.3 IMPACT OF COVID-19 ON THE US SPECIALTY INSURANCE MARKET

6 US SPECIALTY INSURANCE MARKET, BY TYPE OF INSURANCE

6.1 OVERVIEW
6.2 PROFESSIONAL LIABILITY INSURANCE
6.3 MARINE, AVIATION, AND TRANSPORT (MAT) INSURANCE

7 US SPECIALTY INSURANCE MARKET, BY COVERAGE TYPE

7.1 OVERVIEW

8 US SPECIALTY INSURANCE MARKET, BY DISTRIBUTION CHANNEL

8.1 OVERVIEW

9 US SPECIALTY INSURANCE MARKET, BY END-USER

9.1 OVERVIEW

10 COMPETITIVE LANDSCAPE

10.1 INTRODUCTION
10.2 MARKET SHARE ANALYSIS, 2023
10.3 COMPETITOR DASHBOARD
10.4 PUBLIC PLAYERS STOCK SUMMARY
10.5 COMPARATIVE ANALYSIS: KEY PLAYERS FINANICAL
10.1 KEY DEVELOPMENTS & GROWTH STRATEGIES
- 10.1.1 product Launch
- 10.1.2 expansion
- 10.1.3 agreement
- 10.1.4 AWARDS & RECOGNITION

11 COMPANY PROFILES

11.1 SKYWARD SPECIALTY INSURANCE
- 11.1.1 COMPANY OVERVIEw
- 11.1.2 FINANCIAL OVERVIEW
- 11.1.3 INSURANCE OFFERed
- 11.1.4 KEY DEVELOPMENTS
- 11.1.5 SWOT ANALYSIS
- 11.1.6 KEY STRATEGIES
11.2 AXA
- 11.2.1 COMPANY OVERVIEw
- 11.2.2 FINANCIAL OVERVIEW
- 11.2.3 INSURANCE OFFERed
- 11.2.4 KEY DEVELOPMENTS
- 11.2.5 SWOT ANALYSIS
- 11.2.6 KEY STRATEGIES
11.3 BERKSHIRE HATHAWAY SPECIALTY INSURANCE
- 11.3.1 COMPANY OVERVIEw
- 11.3.2 FINANCIAL OVERVIEW
- 11.3.3 INSURANCE OFFERed
- 11.3.4 KEY DEVELOPMENTS
- 11.3.5 SWOT ANALYSIS
- 11.3.6 KEY STRATEGIES
11.4 MUNICH RE
- 11.4.1 COMPANY OVERVIEw
- 11.4.2 FINANCIAL OVERVIEW
- 11.4.3 Insurance OFFERed
- 11.4.4 KEY DEVELOPMENTS
- 11.4.5 SWOT ANALYSIS
- 11.4.6 KEY STRATEGIES
11.5 ALLIANZ
- 11.5.1 COMPANY OVERVIEw
- 11.5.2 FINANCIAL OVERVIEW
- 11.5.3 Insurance OFFERed
- 11.5.4 KEY DEVELOPMENTS
- 11.5.5 SWOT ANALYSIS
- 11.5.6 KEY STRATEGIES
11.6 AMERICAN INTERNATIONAL GROUP, INC.
- 11.6.1 COMPANY OVERVIEw
- 11.6.2 FINANCIAL OVERVIEW
- 11.6.3 INSURANCE OFFERed
- 11.6.4 KEY DEVELOPMENTS
- 11.6.5 SWOT ANALYSIS
- 11.6.6 KEY STRATEGIES
11.7 CHUBB
- 11.7.1 COMPANY OVERVIEw
- 11.7.2 FINANCIAL OVERVIEW
- 11.7.3 INSURANCE OFFERed
- 11.7.4 KEY DEVELOPMENTS
- 11.7.5 SWOT ANALYSIS
- 11.7.6 KEY STRATEGIES
11.8 GREAT AMERICAN INSURANCE COMPANY
- 11.8.1 COMPANY OVERVIEw
- 11.8.2 FINANCIAL OVERVIEW
- 11.8.3 INSURANCE OFFERed
- 11.8.4 KEY DEVELOPMENTS
- 11.8.5 SWOT ANALYSIS
- 11.8.6 KEY STRATEGIES
11.9 STATE FARM INSURANCE
- 11.9.1 COMPANY OVERVIEw
- 11.9.2 FINANCIAL OVERVIEW
- 11.9.3 INSURANCE OFFERed
- 11.9.4 KEY DEVELOPMENTS
- 11.9.5 SWOT ANALYSIS
- 11.9.6 KEY STRATEGIES
11.10 ZURICH INSURANCE COMPANY
- 11.10.1 COMPANY OVERVIEw
- 11.10.2 FINANCIAL OVERVIEW
- 11.10.3 INSURANCE OFFERed
- 11.10.4 KEY DEVELOPMENTS
- 11.10.5 SWOT ANALYSIS
- 11.10.6 KEY STRATEGIES
11.11 TOKIO MARINE HCC
- 11.11.1 COMPANY OVERVIEW
- 11.11.2 FINANCIAL OVERVIEW
- 11.11.3 Insurance OFFERED
- 11.11.4 KEY DEVELOPMENTS
- 11.11.5 SWOT ANALYSIS
- 11.11.6 KEY STRATEGIES
11.12 ODYSSEY GROUP (HUDSON INSURANCE)
- 11.12.1 COMPANY OVERVIEW
- 11.12.2 FINANCIAL OVERVIEW
- 11.12.3 insurance OFFERed
- 11.12.4 KEY DEVELOPMENTS
- 11.12.5 sWOT ANALYSIS
- 11.12.6 KEY STRATEGIES
11.13 CRUM & FORSTER (UNITED STATES FIRE INSURANCE COMPANY)
- 11.13.1 COMPANY OVERVIEW
- 11.13.2 FINANCIAL OVERVIEW
- 11.13.3 insurance OFFERed
- 11.13.4 KEY DEVELOPMENTS
- 11.13.5 SWOT ANALYSIS
- 11.13.6 KEY STRATEGIES
11.14 ARGO GROUP INTERNATIONAL HOLDINGS, LTD.
- 11.14.1 COMPANY OVERVIEW
- 11.14.2 FINANCIAL OVERVIEW
- 11.14.3 insurance OFFERED
- 11.14.4 kEY DEVELOPMENTS
- 11.14.5 SWOT ANALYSIS
- 11.14.6 KEY STRATEGIES
11.15 NSM INSURANCE GROUP
- 11.15.1 COMPANY OVERVIEW
- 11.15.2 FINANCIAL OVERVIEW
- 11.15.3 insurance OFFERED
- 11.15.4 kEY DEVELOPMENTS
- 11.15.5 SWOT ANALYSIS
- 11.15.6 KEY STRATEGIES
11.16 PROGRESSIVE SPECIALTY INSURANCE CO
- 11.16.1 COMPANY OVERVIEW
- 11.16.2 FINANCIAL OVERVIEW
- 11.16.3 insurance OFFERED
- 11.16.4 kEY DEVELOPMENTS
- 11.16.5 SWOT ANALYSIS
- 11.16.6 KEY STRATEGIES
11.17 STARR INTERNATIONAL COMPANY, INC.
- 11.17.1 COMPANY OVERVIEW
- 11.17.2 FINANCIAL OVERVIEW
- 11.17.3 insurance OFFERED
- 11.17.4 kEY DEVELOPMENTS
- 11.17.5 SWOT ANALYSIS
- 11.17.6 KEY STRATEGIES
11.18 PRIME HOLDINGS INSURANCE SERVICES, INC.
- 11.18.1 COMPANY OVERVIEW
- 11.18.2 FINANCIAL OVERVIEW
- 11.18.3 insurance OFFERED
- 11.18.4 kEY DEVELOPMENTS
- 11.18.5 SWOT ANALYSIS
- 11.18.6 KEY STRATEGIES
11.19 NATIONWIDE MUTUAL INSURANCE COMPANY
- 11.19.1 COMPANY OVERVIEW
- 11.19.2 FINANCIAL OVERVIEW
- 11.19.3 insurance OFFERED
- 11.19.4 kEY DEVELOPMENTS
- 11.19.5 SWOT ANALYSIS
- 11.19.6 KEY STRATEGIES

12 DATA CITATIONS

LIST OF TABLES

TABLE 1 QFD MODELING FOR MARKET SHARE ASSESSMENT
TABLE 2 US SPECIALTY INSURANCE MARKET, BY TYPE, 2019-2032 (USD MILLION)
TABLE 3 US SPECIALTY INSURANCE MARKET, FOR PROFESSIONAL LIABILITY INSURANCE, BY TYPE, 2019-2032 (USD MILLION)
TABLE 4 US SPECIALTY INSURANCE MARKET, FOR MARINE, AVIATION, AND TRANSPORT (MAT) INSURANCE, BY TYPE, 2019-2032 (USD MILLION)
TABLE 5 US SPECIALTY INSURANCE MARKET, BY COVERAGE TYPE, 2019-2032 (USD MILLION)
TABLE 6 US SPECIALTY INSURANCE MARKET, BY DISTRIBUTION CHANNEL, 2019-2032 (USD MILLION)
TABLE 7 US SPECIALTY INSURANCE MARKET, BY END-USER, 2019-2032 (USD MILLION)
TABLE 8 PUBLIC PLAYERS STOCK SUMMARY
TABLE 9 PRODUCT LAUNCH
TABLE 10 EXPANSION
TABLE 11 AGREEMENT
TABLE 12 AWARDS & RECOGNITION
TABLE 13 SKYWARD SPECIALTY INSURANCE: INSURANCE OFFERED
TABLE 14 SKYWARD SPECIALTY INSURANCE: KEY DEVELOPMENTS
TABLE 15 AXA: INSURANCE OFFERED
TABLE 16 AXA: KEY DEVELOPMENTS
TABLE 17 BERKSHIRE HATHAWAY SPECIALTY INSURANCE: INSURANCE OFFERED
TABLE 18 MUNICH RE: INSURANCE OFFERED
TABLE 19 MUNICH RE: KEY DEVELOPMENTS
TABLE 20 ALLIANZ: INSURANCE OFFERED
TABLE 21 ALLIANZ: KEY DEVELOPMENTS
TABLE 22 AMERICAN INTERNATIONAL GROUP, INC.: INSURANCE OFFERED
TABLE 23 AMERICAN INTERNATIONAL GROUP, INC.: KEY DEVELOPMENTS
TABLE 24 CHUBB: INSURANCE OFFERED
TABLE 25 GREAT AMERICAN INSURANCE COMPANY: INSURANCE OFFERED
TABLE 26 GREAT AMERICAN INSURANCE COMPANY: KEY DEVELOPMENTS
TABLE 27 STATE FARM INSURANCE: INSURANCE OFFERED
TABLE 28 ZURICH INSURANCE COMPANY: INSURANCE OFFERED
TABLE 29 ZURICH INSURANCE COMPANY: KEY DEVELOPMENTS
TABLE 30 TOKIO MARINE HCC: INSURANCE OFFERED
TABLE 31 TOKIO MARINE HCC: KEY DEVELOPMENTS
TABLE 32 ODYSSEY GROUP (HUDSON INSURANCE): INSURANCE OFFERED
TABLE 33 ODYSSEY GROUP (HUDSON INSURANCE): KEY DEVELOPMENTS
TABLE 34 CRUM & FORSTER (UNITED STATES FIRE INSURANCE COMPANY): INSURANCE OFFERED
TABLE 35 CRUM & FORSTER (UNITED STATES FIRE INSURANCE COMPANY): KEY DEVELOPMENTS
TABLE 36 ARGO GROUP INTERNATIONAL HOLDINGS, LTD.: INSURANCE OFFERED
TABLE 37 ARGO GROUP INTERNATIONAL HOLDINGS, LTD.: KEY DEVELOPMENTS
TABLE 38 NSM INSURANCE GROUP: INSURANCE OFFERED
TABLE 39 PROGRESSIVE SPECIALTY INSURANCE CO: INSURANCE OFFERED
TABLE 40 PROGRESSIVE SPECIALTY INSURANCE CO: KEY DEVELOPMENTS
TABLE 41 STARR INTERNATIONAL COMPANY, INC.: INSURANCE OFFERED
TABLE 42 STARR INTERNATIONAL COMPANY, INC.: KEY DEVELOPMENTS
TABLE 43 PRIME HOLDINGS INSURANCE SERVICES, INC.: INSURANCE OFFERED
TABLE 44 NATIONWIDE MUTUAL INSURANCE COMPANY: INSURANCE OFFERED

LIST OF FIGURES

FIGURE 1 US SPECIALTY INSURANCE MARKET: STRUCTURE
FIGURE 2 US SPECIALTY INSURANCE MARKET: MARKET GROWTH FACTOR ANALYSIS (2023-2032)
FIGURE 3 DRIVER IMPACT ANALYSIS (2023-2032)
FIGURE 4 RESTRAINT IMPACT ANALYSIS (2023-2032)
FIGURE 5 PORTER'S FIVE FORCES ANALYSIS: US SPECIALTY INSURANCE MARKET
FIGURE 6 US SPECIALTY INSURANCE MARKET, BY TYPE OF INSURANCE, 2023 & 2032 (USD MILLION)
FIGURE 7 US SPECIALTY INSURANCE MARKET SHARE (%), BY TYPE, 2023
FIGURE 8 US SPECIALTY INSURANCE MARKET, BY COVERAGE TYPE, 2023 & 2032 (USD MILLION)
FIGURE 9 US SPECIALTY INSURANCE MARKET SHARE (%), BY COVERAGE TYPE, 2023
FIGURE 10 US SPECIALTY INSURANCE MARKET, BY DISTRIBUTION CHANNEL, 2023 & 2032 (USD MILLION)
FIGURE 11 US SPECIALTY INSURANCE MARKET SHARE (%), BY DISTRIBUTION CHANNEL, 2023
FIGURE 12 US SPECIALTY INSURANCE MARKET, BY END-USER, 2023 & 2032 (USD MILLION)
FIGURE 13 US SPECIALTY INSURANCE MARKET SHARE (%), BY END-USER, 2023
FIGURE 14 US SPECIALTY INSURANCE MARKET PLAYERS: COMPETITIVE ANALYSIS, 2023
FIGURE 15 COMPETITOR DASHBOARD: US SPECIALTY INSURANCE MARKET
FIGURE 16 SKYWARD SPECIALTY INSURANCE: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 17 SKYWARD SPECIALTY INSURANCE: SWOT ANALYSIS
FIGURE 18 AXA: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 19 AXA: SWOT ANALYSIS
FIGURE 20 BERKSHIRE HATHAWAY SPECIALTY INSURANCE: SWOT ANALYSIS
FIGURE 21 MUNICH RE: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 22 MUNICH RE: SWOT ANALYSIS
FIGURE 23 ALLIANZ: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 24 ALLIANZ: SWOT ANALYSIS
FIGURE 25 AMERICAN INTERNATIONAL GROUP, INC.: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 26 AMERICAN INTERNATIONAL GROUP, INC.: SWOT ANALYSIS
FIGURE 27 CHUBB: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 28 CHUBB: SWOT ANALYSIS
FIGURE 29 GREAT AMERICAN INSURANCE COMPANY: SWOT ANALYSIS
FIGURE 30 STATE FARM INSURANCE: SWOT ANALYSIS
FIGURE 31 ZURICH INSURANCE COMPANY: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 32 ZURICH INSURANCE COMPANY: SWOT ANALYSIS
FIGURE 33 TOKIO MARINE HCC: SWOT ANALYSIS
FIGURE 34 ODYSSEY GROUP (HUDSON INSURANCE): FINNACIAL OVERVIEW
FIGURE 35 ODYSSEY GROUP: SWOT ANALYSIS
FIGURE 36 CRUM & FORSTER (UNITED STATES FIRE INSURANCE COMPANY): SWOT ANALYSIS
FIGURE 37 ARGO GROUP INTERNATIONAL HOLDINGS, LTD.: FINNACIAL OVERVIEW
FIGURE 38 ARGO GROUP INTERNATIONAL HOLDINGS, LTD.: SWOT ANALYSIS
FIGURE 39 NSM INSURANCE GROUP: SWOT ANALYSIS
FIGURE 40 PROGRESSIVE SPECIALTY INSURANCE CO: FINANCIAL OVERVIEW
FIGURE 41 PROGRESSIVE SPECIALTY INSURANCE CO: SWOT ANALYSIS
FIGURE 42 STARR INTERNATIONAL COMPANY, INC.: SWOT ANALYSIS
FIGURE 43 PRIME HOLDINGS INSURANCE SERVICES, INC.: SWOT ANALYSIS
FIGURE 44 NATIONWIDE MUTUAL INSURANCE COMPANY: FINANCIAL OVERVIEW
FIGURE 45 NATIONWIDE MUTUAL INSURANCE COMPANY: SWOT ANALYSIS