Global Commercial Insurance Industry to 2028 – Adoption of advanced technology in commercial insurance presents opportunities

DUBLIN, September 27, 2021– (BUSINESS WIRE) – The report “Commercial Insurance Market by Type, Company Size, Distribution Channel and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021-2028” has been added to offer.

A commercial insurance plan offers various types of insurance policies such as liability insurance, fire insurance, burglary insurance, plant and machinery insurance, business insurance and others. In addition, these insurance policies are specially designed to cover any type of business risk. In addition, commercial insurance helps minimize financial losses for businesses and promotes business continuity. It further protects the image of the company by managing risk and protecting owners, customers and shareholders associated with the company.

With increased competition among commercial insurance providers to offer better services in terms of coverage and policies as well as premium rates, the demand for commercial insurance has increased in the market. Additionally, business owners have a number of business insurance policies to choose from, depending on their needs and preferences. In addition, increasing competition among small and medium-sized businesses and increasing need for insurance policies among businesses to protect businesses from pandemic scams are some of the factors driving the growth of the market. However, the high insurance premium of commercial insurance and the lack of information among the small businesses on commercial insurance are some of the major factors limiting the growth of the commercial insurance market.

On the contrary, increased adoption of advanced technologies such as artificial intelligence, machine learning, predictive analytics and others aimed at building consumer loyalty and strengthening the presence in the commercial insurance market by offering advanced services with reduced premium cost. Hence, this is attributed to provide lucrative opportunities for the commercial insurance market in the years to come.

The commercial insurance market is segmented on the basis of type, distribution channel, company size, vertical industry and region. Based on the type, the market is segmented into commercial auto insurance, commercial property insurance, liability insurance, marine insurance, and others. By distribution channel, it is segmented into agents and brokers, direct response and others.

Depending on the size of the business, it is divided into large enterprises, medium enterprises and small enterprises. By verticals, the market is segmented into manufacturing, construction, IT and telecommunications, healthcare, energy and utilities, transportation and logistics, etc. By region, it is analyzed in North America, Europe, Asia-Pacific and LAMEA.

The report analyzes the profiles of major players operating in the commercial insurance market such as Allianz, American International Group, Inc., Aon plc, Aviva, AXA, Chubb, Direct Line Insurance Group plc, Marsh, Willis Towers Watson and Zurich. These players have adopted various strategies to increase their market penetration and strengthen their position in the commercial insurance industry.

Main benefits for stakeholders

  • The study provides an in-depth analysis of the global commercial insurance market along with current and future trends to illustrate impending pockets of investment.

  • Information on key drivers, restrictions, and opportunities and their analysis of impact on global commercial insurance market size is provided in the report.

  • Porter’s Five Forces Analysis illustrates the power of buyers and suppliers operating in the industry.

  • The quantitative analysis of the global commercial insurance market from 2021 to 2028 is provided to determine the market potential.

Market dynamics


  • Increased need for insurance policies among businesses to protect businesses from pandemic-related scams

  • Increased competition among small and medium-sized businesses

  • Availability of a large number of insurers



  • Increased use of telematics devices in the retail, construction and healthcare industries

  • Adoption of advanced technologies in commercial insurance

Companies mentioned

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Laura Wood, Senior Press Director
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