Travel Insurance in Turkey to 2016: Market Databook

Document Sample
Travel Insurance in Turkey to 2016: Market Databook Powered By Docstoc
					Travel Insurance in Turkey to 2016:
Turkish Travel Insurance Market
Databook



Reference Code: IN1178DB
Published: July 2012




John Carpenter House
7 Carmelite Street
London
EC4Y 0BS
United Kingdom
Tel: +44 (0)20 7936 6400
Fax: +44 (0)20 7336 6813




                                 www.timetric.com
TABLE OF CONTENTS

1         INTRODUCTION ...........................................................................................................5
    1.1      What is this Report About? .................................................................................................. 5
    1.2      Definitions ........................................................................................................................... 6
2         Policies and Premiums ...............................................................................................8
    2.1      Gross Written Premiums ..................................................................................................... 8
    2.2      Gross Written Premiums Forecast....................................................................................... 9
    2.3      Earned Premiums ............................................................................................................. 10
    2.4      Earned Premium Forecast ................................................................................................ 11
    2.5      Number of Active Policies ................................................................................................. 12
    2.6      Number of Active Policies Forecast ................................................................................... 13
    2.7      Number of Schemes Offered ............................................................................................. 14
    2.8      Number of Schemes Offered Forecast .............................................................................. 15
    2.9      Insurance Penetration (% of GDP) .................................................................................... 16
    2.10     Insurance Penetration (% of GDP) Forecast ..................................................................... 17
3         Claims and Expenses ...............................................................................................18
    3.1      Gross Claims .................................................................................................................... 18
    3.2      Gross Claims Forecast ...................................................................................................... 19
    3.3      Paid Claims ....................................................................................................................... 20
    3.4      Paid Claims Forecast ........................................................................................................ 21
4         APPENDIX ..................................................................................................................22
    4.1      Methodology ..................................................................................................................... 22
    4.2      Contact Us ........................................................................................................................ 22
    4.3      About Timetric ................................................................................................................... 22
    4.4      Disclaimer ......................................................................................................................... 24




Travel Insurance in Turkey to 2016: Market Databook
                                                                                                                                            Page 2
© Timetric. This product is licensed and is not to be photocopied
                                                                                                                             Published: July 2012
LIST OF TABLES

Table 1: Turkish Travel Insurance Industry Definitions ........................................................................................6
Table 2: Turkish Travel Insurance Gross Written Premiums (US$ Billion), 2007-2011 .......................................8
Table 3: Turkish Travel Insurance Gross Written Premiums (TRY Billion), 2007-2011 .......................................8
Table 4: Turkish Travel Insurance Gross Written Premiums (US$ Billion), 2011-2016 .......................................9
Table 5: Turkish Travel Insurance Gross Written Premiums (TRY Billion), 2011-2016 .......................................9
Table 6: Turkish Travel Insurance Earned Premiums (US$ Billion), 2007-2011............................................... 10
Table 7: Turkish Travel Insurance Earned Premiums (TRY Billion), 2007-2011 .............................................. 10
Table 8: Turkish Travel Insurance Earned Premiums (US$ Billion), 2011-2016............................................... 11
Table 9: Turkish Travel Insurance Earned Premiums (TRY Billion), 2011-2016 .............................................. 11
Table 10: Turkish Travel Insurance Number of Active Policies (Thousands), 2007-2011 ................................ 12
Table 11: Turkish Travel Insurance Number of Active Policies (Thousands), 2011-2016 ................................ 13
Table 12: Turkish Travel Insurance Number of Schemes Offered (Absolute), 2007-2011 ............................... 14
Table 13: Turkish Travel Insurance Number of Schemes Offered (Absolute), 2011-2016 ............................... 15
Table 14: Turkish Travel Insurance Penetration (% of GDP), 2007-2011 ......................................................... 16
Table 15: Turkish Travel Insurance Penetration (% of GDP), 2011-2016 ......................................................... 17
Table 16: Turkish Travel Insurance Gross Claims (US$ Billion), 2007-2011 .................................................... 18
Table 17: Turkish Travel Insurance Gross Claims (TRY Billion), 2007-2011.................................................... 18
Table 18: Turkish Travel Insurance Gross Claims (US$ Billion), 2011-2016 .................................................... 19
Table 19: Turkish Travel Insurance Gross Claims (TRY Billion), 2011-2016.................................................... 19
Table 20: Turkish Travel Insurance Paid Claims (US$ Billion), 2007-2011 ...................................................... 20
Table 21: Turkish Travel Insurance Paid Claims (TRY Billion), 2007-2011 ...................................................... 20
Table 22: Turkish Travel Insurance Paid Claims (US$ Billion), 2011-2016 ...................................................... 21
Table 23: Turkish Travel Insurance Paid Claims (TRY Billion), 2011-2016 ...................................................... 21




Travel Insurance in Turkey to 2016: Market Databook
                                                                                                                                      Page 3
© Timetric. This product is licensed and is not to be photocopied
                                                                                                                        Published: July 2012
LIST OF FIGURES

Figure 1: Turkish Travel Insurance Gross Written Premiums (US$ Billion), 2007-2011 ......................................8
Figure 2: Turkish Travel Insurance Gross Written Premiums (US$ Billion) 2011-2016 .......................................9
Figure 3: Turkish Travel Insurance Earned Premiums (US$ Billion), 2007-2011 ............................................. 10
Figure 4: Turkish Travel Insurance Earned Premiums (US$ Billion 2011-2016................................................ 11
Figure 5: Turkish Travel Insurance Number of Active Policies (Thousands), 2007-2011 ................................. 12
Figure 6: Turkish Travel Insurance Number of Active Policies (Thousands), 2011-2016 ................................. 13
Figure 7: Turkish Travel Insurance Number of Schemes Offered (Absolute), 2007-2011 ................................ 14
Figure 8: Turkish Travel Insurance Number of Schemes Offered (Absolute), 2011-2016 ................................ 15
Figure 9: Turkish Travel Insurance Penetration (% of GDP), 2007-2011 ......................................................... 16
Figure 10: Turkish Travel Insurance Penetration (% of GDP), 2011-2016 ....................................................... 17
Figure 11: Turkish Travel Insurance Gross Claims (US$ Billion), 2007-2011 ................................................... 18
Figure 12: Turkish Travel Insurance Gross Claims (US$ Billion 2011-2016 ..................................................... 19
Figure 13: Turkish Travel Insurance Paid Claims (US$ Billion), 2007-2011 ..................................................... 20
Figure 14: Turkish Travel Insurance Paid Claims (US$ Billion 2011-2016 ....................................................... 21




Travel Insurance in Turkey to 2016: Market Databook
                                                                                                                        Page 4
© Timetric. This product is licensed and is not to be photocopied
                                                                                                           Published: July 2012
1 INTRODUCTION
1.1 What is this Report About?

       This report is the result of extensive research into the personal accident and healthcare insurance
       market in Turkey, providing historic and forecast data on travel insurance which includes -

         Policies and Premiums
                o Gross Written Premiums
                o Earned Premiums
                o Number of Active Policies
                o Number of Schemes Offered
                o Insurance Penetration (% of GDP)

         Claims and Expenses
               o Gross Claims
               o Paid Claims




Travel Insurance in Turkey to 2016: Market Databook
                                                                                                          Page 5
© Timetric. This product is licensed and is not to be photocopied
                                                                                             Published: July 2012
1.2 Definitions

       All data is collected in local currency. All conversions into US dollars (US$) of current and forecast data
       are made at the 2011 average annual conversion rate. All values in tables are displayed to one or two
       decimal places

       For the purposes of this report, the review period is 2007–2011 and the forecast period is 2012–2016.

       The key insurance industry terms covered in the report are defined below: Turkish Travel Insurance


       Table 1: Turkish Travel Insurance Industry Definitions
        Term                    Definition

                                Bancassurance is the partnership between a bank and an insurance company in which the insurance
        Bancassurance
                                company uses the bank sales channel to sell insurance products.

                                Ceding company is the primary insurer which transfers some of its insurance risk by ceding a certain
        Ceding Company
                                portion of its total written premium through an insurance contract.

                                Incurred loss is the sum of claims paid by an insurance company and the change in the provision for
        Incurred Loss
                                outstanding claims, irrespective of whether or not they have been reported.

        Claims Ratio            Claims ratio is claims payable as a percentage of premium income.

                                Commission and Expenses is the sum of acquisition costs and administrative costs. Acquisition cost is a
        Commission and
                                certain percentage of premium produced that is retained as compensation by insurance agents and
        Expenses
                                brokers.

        Comprehensive loss
                                Comprehensive loss ratio is the ratio of claims incurred and net premium earned.
        ratio

                                Earned premium is the amount of premiums that a company has earned by providing insurance against
        Earned Premium
                                various risks during the year by ceding a certain portion of the written premium to reinsurance.

                                A life insurance scheme in which the term of the policy is defined for a specified period such as 15, 25
        Endowment Policy        or 30 years. The insurer pays the claim to the family of the assured in an event of their death within the
       
				
DOCUMENT INFO
Description: This report is the result of Timetric’s extensive market research covering the personal accident & health insurance industry in Turkey. It contains detailed historic and forecast data for travel insurance . 'Travel Insurance in Turkey to 2016: Market Databook' provides detailed insight into the operating environment of the personal accident & health insurance industry in Turkey. It is an essential tool for companies active across the Turkish personal accident & health insurance value chain and for new players considering entering the market.
BUY THIS DOCUMENT NOW PRICE: $500 100% MONEY BACK GUARANTEED
PARTNER Timetric
Timetric is an independent economic and business research firm providing critical intelligence on emerging economies and key global industries. We provide detailed economic and sector intelligence, business insights and authoritative, independent commentary. Timetric’s flagship products are economic and industry intelligence centers, which are premium decision tools that provide access to comprehensive research and expert analysis. They provide invaluable decision support presented in easily digestible formats and grounded in deep research. One of the key components of each of these intelligence centers are the hundreds of high quality research reports across countries, industries and companies, which Timetric produces each year. These reports draw on in-depth primary and secondary research, proprietary data and high quality modelling and analysis to give you insight into global market and economic dynamics.