Insurance Advertising Global Market Report 2024

Description

“Insurance Advertising Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on insurance advertising market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for insurance advertising? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The insurance advertising market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Type: Life Insurance; Non-Health Insurance
2) By Advertisement Channels: Television; Email; Sales Calls; Other Advertisement Channels
3) By Application: Direct Marketing; Network Marketing; Mobile Marketing; Other Applications
Companies Mentioned: Wire and Plastic Products Plc.; Q1Media; Bolt Insurance; Insurance Agency Marketing - AMM; Creative Direct Marketing Group
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Insurance advertising involves the promotion of insurance products with the aim of maximizing profits and satisfying customers. The focus of insurance marketing is on creating the optimal combination for success in the insurance industry.

The main types of insurance advertising are life insurance and non-health insurance. Life insurance entails a contractual agreement between a policyholder and an insurer, where the insurer commits to paying a sum of money in exchange for a premium upon the demise of an insured person or after a predetermined period. Advertisement channels include television, email, sales calls, and others, which are utilized for direct marketing, network marketing, mobile marketing, and various applications.

The insurance advertising market research report is one of a series of new reports from The Business Research Company that provides insurance advertising market statistics, including the insurance advertising industry global market size, regional shares, competitors with insurance advertising market share, detailed insurance advertising market segments, market trends, and opportunities, and any further data you may need to thrive in the insurance advertising industry. This insurance advertising market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The insurance advertising market size has grown rapidly in recent years. It will grow from $11.56 billion in 2023 to $12.83 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth observed in the historical period can be attributed to traditional advertising channels, the effectiveness of agent networks, word of mouth referrals, regulatory changes, product innovation, public awareness campaigns, and efforts in customer education.

The insurance advertising market size is expected to see rapid growth in the next few years. It will grow to $19.19 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The anticipated growth in the forecast period can be attributed to the increasing influence of mobile advertising, the emphasis on content marketing, the impact of customer reviews and testimonials, compliance with new regulations, the adoption of usage-based insurance models, and targeting younger demographics. Major trends expected in the forecast period include the dominance of digital marketing, the integration of blockchain technology, increased partnerships and collaborations, the use of artificial intelligence in underwriting processes, and the integration of social media, video content, and storytelling in insurance advertising.

The anticipated growth in the insurance advertising market is driven by an increase in the number of internet users. As the global population actively engaged in internet usage rises, insurance companies find it advantageous to leverage digital marketing strategies for advertising. The expanding reach allows these companies to target their audiences more effectively and anticipate higher returns on investment. With numerous solutions available to streamline marketing initiatives, insurance businesses can focus on essential tasks such as selling insurance. According to a report from OBERLO, in 2022, approximately 4.95 billion people worldwide are actively using the internet, emphasizing the substantial impact of the growing number of internet users on the insurance advertising market.

The insurance advertising market is further propelled by the expansion of the insurtech sector. Insurtech, characterized by the innovative use of digital technology and data analytics in the insurance industry, necessitates effective advertising strategies for communication, differentiation, and capturing consumer attention. The Insurtech Global Outlook Report from NTT DATA highlights significant growth in the insurtech sector, with $8 billion in investments across 470 deals in 2022, showcasing its increasing influence on the insurance advertising market.

A notable trend in the insurance advertising market is the focus on product innovations by major companies. These companies are developing innovative products to enhance their market position. An example is the integrated multimedia brand campaign launched by PhonePe, an India-based digital payments platform, in September 2022. The campaign specifically addresses tension-free motor insurance renewals and emphasizes the advantages of stress-free renewal on the PhonePe platform, showcasing a commitment to innovation in advertising.

Companies operating in the insurance advertising market are also adopting innovative advertising options, such as digital ad films, to expand their customer base. A digital ad film is a promotional video created for digital channels to advertise products, services, brands, or ideas. Max Life Insurance Company Limited, in August 2022, unveiled a digital advertising campaign promoting its term insurance plan for homemakers. This strategic campaign, presented in collaboration with Disney+'s Connected Television, aims to empower homemakers financially by highlighting the importance of a term insurance plan designed specifically for them.

In 2022, WebFX, a US-based digital marketing solutions provider, acquired Nutshell CRM for an undisclosed amount. This acquisition enhances WebFX's capabilities by incorporating Nutshell CRM into its suite of services, resulting in a comprehensive end-to-end revenue marketing solution for expanding businesses. Nutshell CRM is recognized for its web and mobile customer relationship management and email marketing automation services.

Major companies operating in the insurance advertising market report are Wire and Plastic Products Plc., Q1Media, Bolt Insurance, Insurance Agency Marketing - AMM, Creative Direct Marketing Group, Allegiant Digital Marketing, Usadata Inc., Seapoint Digital, Stringo Media, Digital Marketing Specialist Ltd., Flying V Group Digital, Cyrusson Inc., Nazzal Brothers Inc., AdParlor, Digital Results Agency, Allianz SE, American International Group Inc., AXA S.A, Chubb, MetLife Services and Solutions LLC., Ping An Insurance (Group) Company of China Ltd., Progressive Casualty Insurance Company, Prudential, Medica, Zurich Insurance, American Family Mutual, Liberty Mutual, Allstate Corporation, Berkshire Hathaway, GEICO .

Asia-Pacific was the largest region in the insurance advertising market share in 2023. The regions covered in the insurance advertising market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the insurance advertising market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The insurance advertising market includes revenues earned by entities by marketing and selling insurance policies through advertisements. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r11073

1. Executive Summary

2. Insurance Advertising Market Characteristics

3. Insurance Advertising Market Trends And Strategies

4. Insurance Advertising Market - Macro Economic Scenario

4.1. Impact Of High Inflation On the Market
4.2. Ukraine-Russia War Impact On the Market
4.3. COVID-19 Impact On the Market

5. Global Insurance Advertising Market Size and Growth

5.1. Global Insurance Advertising Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Insurance Advertising Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Insurance Advertising Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Insurance Advertising Market Segmentation

6.1. Global Insurance Advertising Market, Segmentation Insurance Advertising , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Life Insurance
Non-health Insurance
6.2. Global Insurance Advertising Market, Segmentation By Advertisement Channels, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Television
Email
Sales Calls
Other Advertisement Channels
6.3. Global Insurance Advertising Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Direct Marketing
Network Marketing
Mobile Marketing
Other Applications

7. Insurance Advertising Market Regional And Country Analysis

7.1. Global Insurance Advertising Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Insurance Advertising Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Insurance Advertising Market

8.1. Asia-Pacific Insurance Advertising Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Insurance Advertising Market, Segmentation Insurance Advertising , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Insurance Advertising Market, Segmentation By Advertisement Channels, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Insurance Advertising Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Insurance Advertising Market

9.1. China Insurance Advertising Market Overview
9.2. China Insurance Advertising Market, Segmentation Insurance Advertising , Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Insurance Advertising Market, Segmentation By Advertisement Channels, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Insurance Advertising Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Insurance Advertising Market

10.1. India Insurance Advertising Market, Segmentation Insurance Advertising , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Insurance Advertising Market, Segmentation By Advertisement Channels, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Insurance Advertising Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Insurance Advertising Market

11.1. Japan Insurance Advertising Market Overview
11.2. Japan Insurance Advertising Market, Segmentation Insurance Advertising , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Insurance Advertising Market, Segmentation By Advertisement Channels, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Insurance Advertising Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Insurance Advertising Market

12.1. Australia Insurance Advertising Market, Segmentation Insurance Advertising , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Insurance Advertising Market, Segmentation By Advertisement Channels, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Insurance Advertising Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Insurance Advertising Market

13.1. Indonesia Insurance Advertising Market, Segmentation Insurance Advertising , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Insurance Advertising Market, Segmentation By Advertisement Channels, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Insurance Advertising Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Insurance Advertising Market

14.1. South Korea Insurance Advertising Market Overview
14.2. South Korea Insurance Advertising Market, Segmentation Insurance Advertising , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Insurance Advertising Market, Segmentation By Advertisement Channels, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Insurance Advertising Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Insurance Advertising Market

15.1. Western Europe Insurance Advertising Market Overview
15.2. Western Europe Insurance Advertising Market, Segmentation Insurance Advertising , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Insurance Advertising Market, Segmentation By Advertisement Channels, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Insurance Advertising Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Insurance Advertising Market

16.1. UK Insurance Advertising Market, Segmentation Insurance Advertising , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Insurance Advertising Market, Segmentation By Advertisement Channels, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Insurance Advertising Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Insurance Advertising Market

17.1. Germany Insurance Advertising Market, Segmentation Insurance Advertising , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Insurance Advertising Market, Segmentation By Advertisement Channels, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Insurance Advertising Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Insurance Advertising Market

18.1. France Insurance Advertising Market, Segmentation Insurance Advertising , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Insurance Advertising Market, Segmentation By Advertisement Channels, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Insurance Advertising Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Insurance Advertising Market

19.1. Italy Insurance Advertising Market, Segmentation Insurance Advertising , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Insurance Advertising Market, Segmentation By Advertisement Channels, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Insurance Advertising Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Insurance Advertising Market

20.1. Spain Insurance Advertising Market, Segmentation Insurance Advertising , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Insurance Advertising Market, Segmentation By Advertisement Channels, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Insurance Advertising Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Insurance Advertising Market

21.1. Eastern Europe Insurance Advertising Market Overview
21.2. Eastern Europe Insurance Advertising Market, Segmentation Insurance Advertising , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Insurance Advertising Market, Segmentation By Advertisement Channels, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Insurance Advertising Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Insurance Advertising Market

22.1. Russia Insurance Advertising Market, Segmentation Insurance Advertising , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Insurance Advertising Market, Segmentation By Advertisement Channels, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Insurance Advertising Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Insurance Advertising Market

23.1. North America Insurance Advertising Market Overview
23.2. North America Insurance Advertising Market, Segmentation Insurance Advertising , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Insurance Advertising Market, Segmentation By Advertisement Channels, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Insurance Advertising Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Insurance Advertising Market

24.1. USA Insurance Advertising Market Overview
24.2. USA Insurance Advertising Market, Segmentation Insurance Advertising , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Insurance Advertising Market, Segmentation By Advertisement Channels, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Insurance Advertising Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Insurance Advertising Market

25.1. Canada Insurance Advertising Market Overview
25.2. Canada Insurance Advertising Market, Segmentation Insurance Advertising , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Insurance Advertising Market, Segmentation By Advertisement Channels, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Insurance Advertising Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Insurance Advertising Market

26.1. South America Insurance Advertising Market Overview
26.2. South America Insurance Advertising Market, Segmentation Insurance Advertising , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Insurance Advertising Market, Segmentation By Advertisement Channels, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Insurance Advertising Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Insurance Advertising Market

27.1. Brazil Insurance Advertising Market, Segmentation Insurance Advertising , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Insurance Advertising Market, Segmentation By Advertisement Channels, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Insurance Advertising Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Insurance Advertising Market

28.1. Middle East Insurance Advertising Market Overview
28.2. Middle East Insurance Advertising Market, Segmentation Insurance Advertising , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Insurance Advertising Market, Segmentation By Advertisement Channels, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Insurance Advertising Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Insurance Advertising Market

29.1. Africa Insurance Advertising Market Overview
29.2. Africa Insurance Advertising Market, Segmentation Insurance Advertising , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Insurance Advertising Market, Segmentation By Advertisement Channels, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Insurance Advertising Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Insurance Advertising Market Competitive Landscape And Company Profiles

30.1. Insurance Advertising Market Competitive Landscape
30.2. Insurance Advertising Market Company Profiles
- 30.2.1. Wire and Plastic Products Plc.
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Q1Media
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Bolt Insurance
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Insurance Agency Marketing - AMM
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Creative Direct Marketing Group
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Insurance Advertising Market Competitive Benchmarking

32. Global Insurance Advertising Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Insurance Advertising Market

34. Insurance Advertising Market Future Outlook and Potential Analysis

34.1 Insurance Advertising Market In 2028 - Countries Offering Most New Opportunities
34.2 Insurance Advertising Market In 2028 - Segments Offering Most New Opportunities
34.3 Insurance Advertising Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer