Demand for One-Year Accident Insurance Market is forecasted to reach a value of US $4.58 billion by 2029

The Business Research Company

The Business Research Company's Demand for One-Year Accident Insurance Market is forecasted to reach a value of US $4.58 billion by 2029

LONDON, GREATER LONDON, UNITED KINGDOM, October 1, 2025 /EINPresswire.com/ -- "Get 30% Off All Global Market Reports With Code ONLINE30 – Stay Ahead Of Trade Shifts, Macroeconomic Trends, And Industry Disruptors

How Large Will The One-Year Accident Insurance Market Be By 2025?
The market size for one-year accident insurance has seen a substantial expansion in the previous years. It is projected to augment from $3.09 billion in 2024 to $3.35 billion in 2025, with a compound annual growth rate (CAGR) of 8.5%. The earlier period of growth is credited to the surge in medical inflation that led to increased demand for short-term coverage, enhanced awareness about personal safety and accident insurance, a growing number of accidents at work and on roads, amplified emphasis on cost-effective insurance among those from lower-income backgrounds, and a surge in the gig economy with freelancers seeking protection for a limited term.

There is a projection of substantial expansion in the size of the one-year accident insurance market over the ensuing years. By the year 2029, it's anticipated to reach $4.58 billion, showcasing an 8.1% compound annual growth rate (CAGR). The increase during this forecast period is credited to a surge in demand for adaptable coverage options, amplified assimilation of accident insurance, the broadening of on-demand insurance services for events and activities, and a rise in collaborations between insurance firms and e-commerce or fintech platforms. Plus, there is a mounting inclination towards low-commitment insurance. Key tendencies for this period encompass utilizing cloud analytics for portfolio risk surveillance, the employment of robotic process automation in policy renewals, the use of data lakes for gaining customer behavior intelligence, IoT-based health and accident monitoring gadgets and real-time policy management facilitated by the cloud.

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What Are The Major Driving Forces Influencing The One-Year Accident Insurance Market Landscape?
The escalating incidences of road and workplace mishaps are anticipated to stimulate the expansion of the one-year accident insurance market. This form of accident refers to unforeseen events on the road or in workplaces causing harm or loss to individuals involved. Urbanization and infrastructural pressure, leading to congested roads and crowded workplaces, are contributing to the rise in such accidents. One-year accident insurance provides financial assistance for treatment, hospital stays, or disability resulting from road and workplace mishaps, providing prompt compensation and alleviating families' financial burdens. For example, the Bureau of Labor Statistics, a U.S government agency, reported in December 2023 that the United States recorded 5,486 fatal work-related injuries in 2022, a 5.7% increase from the 5,190 fatalities in 2021. Hence, the rising occurrences of road and workplace mishaps are bolstering the growth of the one-year accident insurance market.

Who Are The Top Players In The One-Year Accident Insurance Market?
Major players in the One-Year Accident Insurance Global Market Report 2025 include:

• Allianz SE
• China Life Insurance Company Limited
• Banco Bradesco SA
• China Pacific Insurance (Group) Co. Ltd.
• Banco Bilbao Vizcaya Argentaria S.A.
• Crédit Agricole S.A.
• Aegon N.V.
• AIA Group Limited
• Achmea B.V.
• Policybazaar

What Are The Future Trends Of The One-Year Accident Insurance Market?
Prominent corporations in the one-year accident insurance market are strategizing towards providing innovative solutions like annual premium insurance. This service aims to provide budget-friendly, straightforward renewal coverage that guarantees protection from unforeseen accidents continuously. The term of the annual premium insurance is a year, with the premium being paid annually. It covers the insured for the entire year, offering undisturbed and efficient protection. To illustrate, in September 2024, India Post Payments Bank, a banking institution from India, rolled out a fresh accident insurance program. It extends coverage between ₹10 lakh and ₹15 lakh with economical annual premiums ranging between ₹520 and ₹799. The program specifically targets individuals in the age group of 18 to 65 years who hold an IPPB account, offering benefits encapsulating accidental death, complete or fractional disability, and multiple accident-induced expenses such as hospitalization and transportation charges. Additional perks comprise educational backing for two children, daily hospital charges coverage, and advisory services on mental and physical health. The premium account can be initiated with a minimal amount of just ₹200, and the yearly insurance renewal is obligatory.

Market Share And Forecast By Segment In The Global One-Year Accident Insurance Market
The one-year accident insurance market covered in this report is segmented

1) By Coverage Type: Accidental Death Coverage, Permanent Disability Coverage, Temporary Disability Coverage, Medical Expense Coverage
2) By Customer Type: Individual Customers, Family Policies, Corporate Policies, Group Insurance Plans
3) By Distribution Channel: Online, Insurance Brokers, Direct Sales, Bancassurance, Other Distribution Channels
4) By Applications: Third Party, Insurance Company, Other Applications
5) By End-User: Individuals, Corporates, Small And Medium-Sized Enterprises, Other End-Users

Subsegments:
1) By Accidental Death Coverage: Individual Policy, Group Policy, Family Floater Policy, Travel Specific Policy
2) By Permanent Disability Coverage: Partial Disability Benefit, Total Disability Benefit, Lump Sum Payment, Monthly Income Benefit
3) By Temporary Disability Coverage: Short Term Benefit, Income Replacement Benefit, Rehabilitation Support, Daily Allowance
4) By Medical Expense Coverage: Hospitalization Expense Reimbursement, Emergency Room Treatment, Surgery Coverage, Outpatient Consultation Coverage

View the full one-year accident insurance market report:
https://www.thebusinessresearchcompany.com/report/one-year-accident-insurance-global-market-report

One-Year Accident Insurance Market Regional Insights
The Asia-Pacific area held the top position in the one-year accident insurance market in 2024. The prediction for the upcoming period is that North America will witness the highest growth rate. The report on one-year accident insurance globally for 2025 incorporates regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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