The Next Big Regions for Insurance - Introduction

'The next big regions for insurance' is a series of articles where I will analyse and evaluate such markets which augur well and offer excellent scope for insurance growth in the coming decade (by 2020)

The countries under study are groups originally framed for the economic promises they hold. These groups have exhibited tremendous economic growth and have advanced technologically and financially as well. These countries have been in the limelight, offering greener pastures for matured economies (new markets to be targeted) and are aptly termed, 'emerging markets'.

Insurance is an offshoot of economic development. With increasing awareness (result of better educational facilities), higher disposable income (result of an increase in per-capita income) and better standard of living, insurance can reach larger audiences, offer relevant and need-based products through innovative and effective channels. What interests insurance specifically is either the large population or low penetration of a given market. These two factors, as we would discover in the articles, invariably  are present in the group of countries under study.

The groups identified for the study are:

• BRIC+M countries (Brazil, Russia, India, China + Mexico) and 
• CEE countries (Central and Eastern Europe)

We shall evaluate these groups one by one on certain common parameters thus enabling comparison. This would involve analysis of existing insurance scenario in respective markets and future opportunities and challenges for its growth.