Health and Personal Accidents Insurance Industry in Pakistan: Ken Research REQUEST FOR SAMPLE REPORT Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit There has been a consistent decline in the number of life insurance companies mainly due to limited demand for life insurance on account of small urban market and presence of state-owned corporation, which enjoys almost a complete monopoly in the market and thus leaves very little share for other companies. Pakistan’s public healthcare system faces challenges in the form of rural-urban disparities in healthcare delivery, an insufficient number of doctors, nurses, medical technicians, and limited choice in terms of physician practitioners. Health insurers are also partnering with organizations outside the segment to offer health insurance plans to customers in order to increase their market share. Ken Research announced its latest publication on, ‘Personal Accident and Health Insurance in Pakistan, Key Trends and Opportunities to 2019’, which provides detailed information on the market trends in the Insurance market. In addition, report is a comprehensive report, providing detailed analysis of the market trends, drivers, challenges in the Pakistani personal accident and health insurance segment. In addition, it provides insight regarding major players in the industry. The insurance industry in Pakistan is relatively small compared to other developing countries in the region. The insurance penetration and density remained very modest as compared to other jurisdictions while the insurance sector remained underdeveloped relative to its potential. Since, there has been a consistent decline in the number of life insurance companies mainly due to limited demand for life insurance on account of small urban market and presence of state-owned corporation, which enjoys almost a complete monopoly in the market and thus leaves very little share for other companies. Additionally, Pakistan has quite low GDP per capita, low literacy rate and low women participation and empowerment in society, which further indicates low purchasing power and thus indicates that total population is living below poverty line.Hence,all these factors have contributed towards low share of Pakistan insurance industry in the world market. Pakistan’s public healthcare system faces challenges in the form of rural-urban disparities in healthcare delivery, an insufficient number of doctors, nurses, medical technicians, and limited choice in terms of physician practitioners Almost 97% of Pakistan’s population is Muslim and the reason behind the low insurance penetration rate in this country is that insurance is regarded as unethical from a religious point of view by a large segment of people. Therefore, the government of Pakistan has been actively involved in promoting Islamic Insurance (Takaful) over the last few years. The Insurance Department of the Securities and Exchange Commission of Pakistan (SECP), the regulatory body for insurance, introduced Takaful rules in 2005 to regulate operations of Takaful insurance companies; the act also allows conventional insurance companies to transform into Takaful-based companies. Initially, Pakistan was slow to respond to the global Takaful trend but, within a brief period, five Takaful companies (two general and three families) were established, and more companies are scheduled to enter the market in the near future. Foreign investors, particularly from Gulf countries, are heavily investing in Pakistan’s Takaful industry. Actuaries in Pakistan are increasingly in demand from Takaful companies to employ their analytical skills to this new industry. Health insurers are also partnering with organizations outside the segment to offer health insurance plans to customers in order to increase their market share. In addition to underwriting profits, Pakistani personal accident and health insurance insurers are focusing on generating returns on investments, aided by improving economic conditions. Since in developing countries (most of which have large Muslim populations) like Pakistan, insurance is not being made available compulsory where it is needed the most, where human well-being is at the lowest and vulnerability is at its highest. Moreover, in Pakistan insurance companies act as financial intermediaries and it has shown strong resilience to a challenging macroeconomic environment and global development. Since the insurance sector plays an important role in the service-based economy and its services are now being integrated into wider financial industry. The major players in the insurance industry in Pakistan are as follows: Allianz EFU Health Insurance Asia Care Health & Life Insurance Co. Ltd Adamjee Insurance Company Ltd East West Life Assurance Company Ltd EFU General Insurance Company IGI Insurance Ltd Askari General Insurance Company Ltd Jubilee General Insurance Company Ltd To know more on coverage, click on the link below: https://www.kenresearch.com/banking-financial-services-and-insurance/insurance/personal-accident-health-insurance/33370-93.html Related Reports: https://www.kenresearch.com/banking-financial-services-and-insurance/insurance/personal-accident-health-insurance-taiwan-key-trends-opportunities-2019/2156-93.html https://www.kenresearch.com/banking-financial-services-and-insurance/insurance/personal-accident-and-health-insurance-in-colombia/2119-93.html Contact: Ken Research Ankur Gupta, Head Marketing & Communications query@kenresearch.com +91-124-4230204 Tags: Life Insurance Sector Pakistan, Non life Insurance Industry Pakistan, Pakistan Health and Personal Accidents Insurance Industry, Pakistan Health Industry Research Report, Pakistan Hospital Sector, Pakistan Insurance Industry, Pakistan Insurance Industry Forecast, Pakistan Insurance Industry Future Outlook, Pakistan Insurance Industry Share, Pakistan Insurance Industry Size