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Personal Accident and Health Insurance in Israel, Key Trends and Opportunities to 2019

Published: May 26, 2016 | Pages: 114 | Publisher: Timetric | Industry: Insurance | Report Format: Electronic (PDF)

Synopsis

Timetric’s 'Personal Accident and Health Insurance in Israel, Key Trends and Opportunities to 2019' report provides detailed analysis of the market trends, drivers, challenges in the Israeli personal accident and health insurance segment.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets and total investment income during the review period (2010-2014) and forecast period (2014-2019).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Israeli economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

Timetric’s 'Personal Accident and Health Insurance in Israel, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Israeli personal accident and health insurance segment, including:

- The Israeli personal accident and health insurance segment’s growth prospects by insurance category
- Key trends, drivers and challenges for the personal accident and health insurance segment
- A comprehensive overview of the Israeli economy and demographics
- The various distribution channels in the Israeli personal accident and health insurance segment
- Details of the competitive landscape in the personal accident and health insurance segment in Israel
- Details of regulatory policy applicable to the Israeli insurance industry

Scope

This report provides a comprehensive analysis of the personal accident and health insurance segment in Israel:

- It provides historical values for the Israeli personal accident and health insurance segment for the report’s 2010-2014 review period, and projected figures for the 2014-2019 forecast period.
- It offers a detailed analysis of the key categories in the Israeli personal accident and health insurance segment, and market forecasts to 2019.
- It profiles the top personal accident and health insurance companies in Israel, and outlines the key regulations affecting them.

Reasons To Buy

- Make strategic business decisions using in-depth historic and forecast market data related to the Israeli personal accident and health insurance segment, and each category within it.
- Understand the demand-side dynamics, key market trends and growth opportunities in the Israeli personal accident and health insurance segment.
- Assess the competitive dynamics in the personal accident and health insurance segment.
- Identify growth opportunities and market dynamics in key product categories.
- Gain insights into key regulations governing the Israeli insurance industry, and their impact on companies and the industry's future.

Key Highlights

- The personal accident and health segment accounted for 15.9% of the Israeli industry’s gross written premium in 2014.
- A well-developed public healthcare system, supported by voluntary health insurance and private health insurers contributes to the growth of Israel’s healthy population.
- The Israeli personal accident and health segment is dominated by domestic companies.
- Harel was the largest personal accident and health insurer, accounting for a 40.8% share of the segment’s gross written premium in 2014.
- Higher life expectancy and advances in medical technology have resulted in more patients in long-term care.
 Table of Content

1 Key Facts and Highlights

2 Executive Summary

3 Economy and Demographics

4 Personal Accident and Health Insurance Segment Outlook
4.1 Key Drivers
4.2 Key Trends
4.3 Challenges
4.4 Personal Accident and Health Insurance Growth Prospects by Category
4.4.1 Personal accident insurance
4.4.2 Travel insurance
4.4.3 Health insurance
4.4.4 Non-life health insurance
4.4.5 Life health insurance

5 Analysis by Distribution Channel

6 Competitive Landscape and Strategic Insights
6.1 Overview
6.2 Leading Companies in the Israeli Personal Accident and Health Insurance Segment
6.2.1 Harel Insurance Company Ltd - company overview
6.2.2 Clal Insurance Enterprises Holdings Ltd - company overview
6.2.3 The Phoenix Insurance Company Ltd - company overview
6.2.4 Migdal Insurance Company Ltd - company overview
6.2.5 Menora Mivtachim Insurance Ltd - company overview
6.2.6 AIG Israel Insurance Company Ltd - company overview
6.2.7 Ayalon Insurance Company Ltd - company overview
6.2.8 IDI Insurance Company Ltd - company overview
6.2.9 Shirbit Insurance Company Ltd - company overview
6.2.10 Hachsharah Insurance Company Ltd - company overview

7 Governance, Risk and Compliance
7.1 Legislation Overview and Historical Evolution
7.2 Latest Changes in Regulations
7.3 Legislation and Market Practice by Type of Insurance
7.3.1 Life insurance
7.3.2 Property insurance
7.3.3 Motor insurance
7.3.4 Liability insurance
7.3.5 Marine, aviation and transit insurance
7.3.6 Personal accident and health insurance
7.4 Compulsory Insurance
7.4.1 Motor third-party liability insurance
7.4.2 Workers’ compensation insurance
7.5 Supervision and Control
7.5.1 International Association of Insurance Supervisors
7.5.2 Capital Markets, Insurance and Savings Division
7.5.3 Israel Insurance Association (RA)
7.5.4 The Association of Life Insurance Companies of Israel Ltd
7.6 Non-Admitted Insurance Regulations
7.6.1 Overview
7.6.2 Intermediaries
7.6.3 Market practices
7.6.4 Fines and penalties
7.7 Company Registration and Operations
7.7.1 Types of insurance organization
7.7.2 Establishing a local company
7.7.3 Foreign ownership
7.7.4 Types of license
7.7.5 Capital requirements
7.7.6 Solvency margins
7.7.7 Reserve requirements
7.7.8 Investment regulations
7.7.9 Statutory return requirements
7.7.10 Fee structure
7.8 Taxation
7.8.1 Insurance premium or policy taxation
7.8.2 Withholding taxes on premium paid overseas
7.8.3 Corporate tax
7.8.4 VAT
7.8.5 Captives
7.9 Legal System
7.9.1 Introduction
7.9.2 Access to court
7.9.3 Alternative dispute resolution (ADR)

8 Definitions and Methodology
8.1 Definitions
8.2 Methodology

9 Appendix
9.1 Methodology
9.2 Contact Timetric
9.3 About Timetric
9.4 Timetric’s Services
9.5 Disclaimer
List of Tables

Table 1: Israeli Personal Accident and Health Insurance - Key Facts, 2013
Table 2: Israeli Personal Accident and Health Insurance - Segment Shares of the Leading Insurers (%), 2014
Table 3: Israeli Government Credit Ratings, 2014
Table 4: Israeli Personal Accident and Health Insurance - Health Expenditure as Percentage of Household Expenditure (%), 2010-2013
Table 5: Israeli Personal Accident and Health Insurance - Market Share of Harel Insurance in Health Insurance Sub-Categories (%), 2013 and 2014
Table 6: Israeli Personal Accident and Health Insurance - Complaints, Claims and Claim Settlements, 2014
Table 7: Israeli Personal Accident and Health Insurance - Gross Written Premium by Category (ILS Million), 2010-2014
Table 8: Israeli Personal Accident and Health Insurance - Gross Written Premium by Category (US$ Million), 2010-2014
Table 9: Israeli Personal Accident and Health Insurance - Gross Written Premium by Category (ILS Million), 2014-2019
Table 10: Israeli Personal Accident and Health Insurance - Gross Written Premium by Category (US$ Million), 2014-2019
Table 11: Israeli Personal Accident and Health Insurance - Direct Written Premium by Category (ILS Million), 2010-2014
Table 12: Israeli Personal Accident and Health Insurance - Direct Written Premium by Category (US$ Million), 2010-2014
Table 13: Israeli Personal Accident and Health Insurance - Direct Written Premium by Category (ILS Million), 2014-2019
Table 14: Israeli Personal Accident and Health Insurance - Direct Written Premium by Category (US$ Million), 2014-2019
Table 15: Israeli Personal Accident and Health Insurance - Net Earned Premium (ILS Billion), 2010-2014
Table 16: Israeli Personal Accident and Health Insurance - Net Earned Premium (ILS Billion), 2014-2019
Table 17: Israeli Personal Accident and Health Insurance - Paid Claims by Category (ILS Million), 2010-2014
Table 18: Israeli Personal Accident and Health Insurance - Paid Claims by Category (US$ Million), 2010-2014
Table 19: Israeli Personal Accident and Health Insurance - Paid Claims by Category (ILS Million), 2014-2019
Table 20: Israeli Personal Accident and Health Insurance - Paid Claims by Category (US$ Million), 2014-2019
Table 21: Israeli Personal Accident and Health Insurance - Incurred Loss by Category (ILS Million), 2010-2014
Table 22: Israeli Personal Accident and Health Insurance - Incurred Loss by Category (US$ Million), 2010-2014
Table 23: Israeli Personal Accident and Health Insurance - Incurred Loss by Category (ILS Million), 2014-2019
Table 24: Israeli Personal Accident and Health Insurance - Incurred Loss by Category (US$ Million), 2014-2019
Table 25: Israeli Personal Accident and Health Insurance - Net Written Premium by Category (ILS Million), 2010-2014
Table 26: Israeli Personal Accident and Health Insurance - Net Written Premium by Category (US$ Million), 2010-2014
Table 27: Israeli Personal Accident and Health Insurance - Net Written Premium by Category (ILS Million), 2014-2019
Table 28: Israeli Personal Accident and Health Insurance - Net Written Premium by Category (US$ Million), 2014-2019
Table 29: Israeli Personal Accident and Health Insurance - Loss Ratio (%), 2010-2014
Table 30: Israeli Personal Accident and Health Insurance - Loss Ratio (%), 2014-2019
Table 31: Israeli Personal Accident and Health Insurance - Net Written Premium (% of GWP), 2010-2014
Table 32: Israeli Personal Accident and Health Insurance - Net Written Premium (% of GWP), 2014-2019
Table 33: Israeli Personal Accident Insurance - Direct Written Premium (ILS Million), 2010-2014
Table 34: Israeli Personal Accident Insurance - Direct Written Premium (ILS Million), 2014-2019
Table 35: Israeli Personal Accident Insurance - Loss Ratio (%), 2010-2014
Table 36: Israeli Personal Accident Insurance - Loss Ratio (%), 2014-2019
Table 37: Israeli Travel Insurance - Direct Written Premium (ILS Million), 2010-2014
Table 38: Israeli Travel Insurance - Direct Written Premium (ILS Million), 2014-2019
Table 39: Israeli Travel Insurance - Loss Ratio (%), 2010-2014
Table 40: Israeli Travel Insurance - Loss Ratio (%), 2014-2019
Table 41: Israeli Health Insurance - Gross Written Premium by Sub-Category (ILS Billion), 2010-2014
Table 42: Israeli Health Insurance - Gross Written Premium by Sub-Category (US$ Billion), 2010-2014
Table 43: Israeli Health Insurance - Gross Written Premium by Sub-Category (ILS Billion), 2014-2019
Table 44: Israeli Health Insurance - Gross Written Premium by Sub-Category (US$ Billion), 2014-2019
Table 45: Israeli Non-Life Health Insurance - Direct Written Premium (ILS Billion), 2010-2014
Table 46: Israeli Non-Life Health Insurance - Direct Written Premium (ILS Billion), 2014-2019
Table 47: Israeli Non-Life Health Insurance - Paid Claims (ILS Billion), 2010-2014
Table 48: Israeli Non-Life Health Insurance - Paid Claims (ILS Billion), 2014-2019
Table 49: Israeli Non-Life Health Insurance - Loss Ratio (%), 2010-2014
Table 50: Israeli Non-Life Health Insurance - Loss Ratio (%), 2014-2019
Table 51: Israeli Non-Life Health Insurance - Net Written Premium (ILS Billion), 2010-2014
Table 52: Israeli Non-Life Health Insurance - Net Written Premium (ILS Billion), 2014-2019
Table 53: Israeli Life Health Insurance - Direct Written Premium (ILS Billion), 2010-2014
Table 54: Israeli Life Health Insurance - Direct Written Premium (ILS Billion), 2014-2019
Table 55: Israeli Life Health Insurance - Paid Claims (ILS Billion), 2010-2014
Table 56: Israeli Life Health Insurance - Paid Claims (ILS Billion), 2014-2019
Table 57: Israeli Life Health Insurance - Loss Ratio (%), 2010-2014
Table 58: Israeli Life Health Insurance - Loss Ratio (%), 2014-2019
Table 59: Israeli Life Health Insurance - Net Written Premium (ILS Billion), 2010-2014
Table 60: Israeli Life Health Insurance - Net Written Premium (ILS Billion), 2014-2019
Table 61: Israeli Personal Accident and Health Insurance - Leading Five Insurers’ Shares by Sub-Category (%), 2014
Table 62: Israeli Personal Accident and Health Insurance - Segment Shares (%), 2014
Table 63: Harel Insurance Company Ltd - Key Facts
Table 64: Clal Insurance Enterprises Holdings Ltd - Key Facts
Table 65: The Phoenix Insurance Company Ltd - Key Facts
Table 66: Migdal Insurance Company Ltd - Key Facts
Table 67: Menora Mivtachim Insurance Ltd - Key Facts
Table 68: AIG Israel Insurance Company Ltd - Key Facts
Table 69: Ayalon Insurance Company Ltd - Key Facts
Table 70: IDI Insurance Company Ltd - Key Facts
Table 71: Shirbit Insurance Company Ltd - Key Facts
Table 72: Hachshara Insurance Company Ltd - Key Facts
Table 73: Israel - Insurance Regulatory Framework Key Features
Table 74: Israel - Life Insurance Regulatory Framework
Table 75: Israel - Property Insurance Regulatory Framework
Table 76: Israel - Motor Insurance Regulatory Framework
Table 77: Israel - Liability Insurance Regulatory Framework
Table 78: Israel - Corporate Tax Rates for the Financial Year 2015
Table 79: Insurance Industry Definitions 


List of Figures

Figure 1: Israeli Real GDP (ILS Trillion), 2010-2019
Figure 2: ILS - US$ Exchange Rate, 2010-2019
Figure 3: Israeli Consumer Price Inflation (%), 2010-2019
Figure 4: Israeli Current Account Balance as Percentage of GDP (%), 2010-2014
Figure 5: Israeli Unemployment Rate (%), 2010-2019
Figure 6: Israeli Population by Age Group (Million), 2010-2014
Figure 7: Israeli Personal Accident and Health Insurance - Gross Written Premium by Category (ILS Million), 2010-2019
Figure 8: Israeli Personal Accident and Health Insurance - Gross Written Premium by Category (% Share), 2014 and 2019
Figure 9: Israeli Personal Accident and Health Insurance - Gross Written Premium Dynamics by Category, 2010-2019
Figure 10: Israeli Personal Accident and Health Insurance - Direct Written Premium by Category (ILS Million), 2010-2019
Figure 11: Israeli Personal Accident and Health Insurance - Direct Written Premium by Category (% Share), 2014 and 2019
Figure 12: Israeli Personal Accident and Health Insurance - Gross Written Premium Dynamics by Category, 2010-2019
Figure 13: Israeli Personal Accident and Health Insurance - Net Earned Premium (ILS Billion), 2010-2014
Figure 14: Israeli Personal Accident and Health Insurance - Net Earned Premium (ILS Billion), 2014-2019
Figure 15: Israeli Personal Accident and Health Insurance - Paid Claims by Category (ILS Million), 2010-2019
Figure 16: Israeli Personal Accident and Health Insurance - Incurred Loss by Category (ILS Million), 2010-2019
Figure 17: Israeli Personal Accident and Health Insurance - Net Written Premium by Category (ILS Million), 2010-2019
Figure 18: Israeli Personal Accident and Health Insurance - Loss Ratio (%), 2010-2014
Figure 19: Israeli Personal Accident and Health Insurance - Loss Ratio (%), 2014-2019
Figure 20: Israeli Personal Accident and Health Insurance - Net Written Premium (% of GWP), 2010-2014
Figure 21: Israeli Personal Accident and Health Insurance - Net Written Premium (% of GWP), 2014-2019
Figure 22: Israeli Personal Accident and Health Insurance Penetration (Ratio of Direct Premiums to GDP), 2010-2014
Figure 23: Israeli Personal Accident and Health Insurance - Density (Direct Premium per Capita), 2010-2014
Figure 24: Israeli Personal Accident Insurance - Direct Written Premium (ILS Million), 2010-2014
Figure 25: Israeli Personal Accident Insurance - Direct Written Premium (ILS Million), 2014-2019
Figure 26: Israeli Personal Accident Insurance - Loss Ratio (%), 2010-2014
Figure 27: Israeli Personal Accident Insurance - Loss Ratio (%), 2014-2019
Figure 28: Israeli Travel Insurance - Direct Written Premium (ILS Million), 2010-2014
Figure 29: Israeli Travel Insurance - Direct Written Premium (ILS Million), 2014-2019
Figure 30: Israeli Travel Insurance - Loss Ratio (%), 2010-2014
Figure 31: Israeli Travel Insurance - Loss Ratio (%), 2014-2019
Figure 32: Israeli Health Insurance - Gross Written Premium by Sub-Category (ILS Billion), 2010-2019
Figure 33: Israeli Health Insurance - Gross Written Premium Dynamics by Sub-Category, 2010-2019
Figure 34: Israeli Non-Life Health Insurance - Direct Written Premium (ILS Billion), 2010-2014
Figure 35: Israeli Non-Life Health Insurance - Direct Written Premium (ILS Billion), 2014-2019
Figure 36: Israeli Non-Life Health Insurance - Paid Claims (ILS Billion), 2010-2014
Figure 37: Israeli Non-Life Health Insurance - Paid Claims (ILS Billion), 2014-2019
Figure 38: Israeli Non-Life Health Insurance - Loss Ratio (%), 2010-2014
Figure 39: Israeli Non-Life Health Insurance - Loss Ratio (%), 2014-2019
Figure 40: Israeli Non-Life Health Insurance - Net Written Premium (ILS Billion), 2010-2014
Figure 41: Israeli Non-Life Health Insurance - Net Written Premium (ILS Billion), 2014-2019
Figure 42: Israeli Life Health Insurance - Direct Written Premium (ILS Billion), 2010-2014
Figure 43: Israeli Life Health Insurance - Direct Written Premium (ILS Billion), 2014-2019
Figure 44: Israeli Life Health Insurance - Paid Claims (ILS Billion), 2010-2014
Figure 45: Israeli Life Health Insurance - Paid Claims (ILS Billion), 2014-2019
Figure 46: Israeli Life Health Insurance - Loss Ratio (%), 2010-2014
Figure 47: Israeli Life Health Insurance - Loss Ratio (%), 2014-2019
Figure 48: Israeli Life Health Insurance - Net Written Premium (ILS Billion), 2010-2014
Figure 49: Israeli Life Health Insurance - Net Written Premium (ILS Billion), 2014-2019
Figure 50: Israeli Personal Accident and Health Insurance - Segment Shares (%), 2014
Figure 51: Israel - Insurance Supervision and Control at Various Levels
Figure 52: Israel - Insurance Regulatory Frameworks for Company Registration and Operation

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