Personal Accident & Health Insurance Segment Is Largest Segment in Dutch Insurance Industry, Finds Timetric27 Sep 2012 • by Natalie Aster
The Dutch personal accident and health insurance segment is the largest segment in the country’s insurance industry, accounting for over half of the industry’s total gross written premiums in 2011. Also, the country’s health insurance category is the largest in Europe, accounting for just over a third of the EU’s total health insurance premiums. The main growth drivers for the personal accident and health insurance segment during the review period (2007–2011) were an increase in total healthcare expenditure, rising consumer awareness regarding the benefits of private health insurance products and, most importantly, national healthcare reforms that were introduced in 2006 and privatized the country’s healthcare sector. As a result, the segment’s gross written premiums recorded a CAGR of 5.1% during the review period. Health insurance accounted for the largest share of approximately 90% of the Dutch personal accident and health insurance segment in 2011. On a company level, the Dutch personal accident and health insurance segment is highly concentrated, with the segment’s four leading companies accounting for a combined market share of over 90%.
Providing high-quality healthcare at an affordable price is high on the agenda of a Dutch government that is increasingly mindful of the country’s steady growth in total healthcare costs. Consequently, healthcare reforms making basic private healthcare insurance mandatory for the Dutch population were introduced in 2006. Moreover, the government is keen to expand this liberalization program and further alter the country’s healthcare system in order to shift financial risk and responsibility to insurers and the insured.
The new report "Personal Accident and Health Insurance in the Netherlands, Key Trends and Opportunities to 2016" by Timetric states that direct marketing was the leading distribution channel for the Dutch personal accident and health insurance segment during the review period. Personal accident and health insurers are highly dependent on the direct marketing channel to distribute their products as the internet as a sales channel is playing an important role in providing the required information to customers at low cost. The personal accident and health insurance new business written premium generated through direct marketing in the Netherlands recorded a CAGR of 7.7% during the review period.
Personal Accident and Health Insurance in the Netherlands, Key Trends and Opportunities to 2016
Published: August, 2012
Price: US$ 1.950,00
Personal accident and health insurers in the Netherlands are continually seeking to gain market share at the expense of their rivals, a tendency that increased following the 2006 health reforms. The Dutch personal accident and health insurance segment is fragmented, with data from the Dutch Insurers Association indicating that 104 personal accident insurance companies and 116 health insurance companies were operating in the country at the end of 2010. This results in a high intensity of rivalry which, in turn, is putting pressure on prices.
More information can be found in the report “Personal Accident and Health Insurance in the Netherlands, Key Trends and Opportunities to 2016” by Timetric.
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