GVR Report cover Logistics Insurance Market Size, Share & Trends Report

Logistics Insurance Market Size, Share & Trends Analysis Report By Industry (Transportation, Marine, Aviation), By Country (U.S., Canada, UK, Germany, China, India, Japan, Brazil, Mexico, Middle East and Africa) And Segment Forecasts, 2018 - 2025

  • Report ID: GVR-2-68038-844-2
  • Number of Pages: 95
  • Format: Electronic (PDF)
  • Historical Range: 2014 - 2015
  • Industry: Technology

Market Insights

The global logistics insurance market size was valued at USD 45.65 billion in 2015 owing to the increasing customer expectation for personalized insurance products and services. Product design in insurance entails the potential risk that the buyer wishes to transfer. The main objective of the organization for introducing a new product is to increase the after-tax income by charging an appropriate price for the product. Industry players create optimal prices for certain policies and read just the price as certain factors change over the time.

UK logistics insurance market by industry, 2014 - 2025 (USD Billion)

UK logistics insurance market

Insurers remain competitive by adopting the price optimization technique. Companies determine the premium rates based on the historic data and price the product accordingly. Tools such as predictive analytical models, what-if scenario simulation, and impact analysis are used for product pricing. Pricing is considered to be the key differentiator and requires a thorough understanding of the competition, customer data, customer buying preferences, and pricing strategies.

An effective claims management is vital to the success of both small and large companies. The claim handling process includes developing strategies to reduce frauds and cut costs for enhancing the customer experience. The claim process differs among insurers based on the services offered by the company. The adoption of the Business Process Management (BPM) would deliver improved claim processing technology that automates the resource allocation under an optimized end-to-end claim process.

The insurers attract customers through various policies and premiums. The attrition rate is high as customers have a number of options to choose the service providers. However, the growing investment in customer engagement activities through various digital touch points, including mobile, social media, mail, and others is likely to influence the market growth. Though the industry is undergoing technology changes, personal interaction is still highly regarded as the claims process is complex and needs continued assistance to customers.

Industry Insights

Based on the industry, the logistics insurance market is segmented into transportation, marine, aviation, and others. The marine segment dominated the segment in 2015 and is expected to remain the same over the forecast period. This growth is attributed to the rapid growth of the port development in the emerging countries. The reduction in the value of vessels has increased contribution from cargo underwriters owing to the reduction in deductibles and premium.

Logistics insurance market by industry, 2015

Logistics insurance market

The relocation of manufacturing to countries such as Cambodia and Vietnam has bolstered the intra-Asian trade. Additionally, the increased spending on infrastructure allows a greater volume of goods to pass through the region. The growing consumer demand also increases the need for goods and attracts increased cargo to the region.

The International Maritime Organization (IMO) governs the maritime segment. IMO has established Integrated Technical Co-operation Programme (ITCP) for assisting countries to build up the institutional and human capabilities to meet the compliance of IMO’s framework.

Regional Insights

Europe held a significant share of around 35.40% in 2015 and has become one of the most influential markets in the industry. The presence of well-established logistics infrastructure and the rising digital insurance are the major factors reinforcing the dominance of this region. Automating regulatory compliance in the region is also likely to spur the regional growth.

The government regulatory initiatives play a significant role in determining the price of policies, which is expected to impact the sector as a strong driver. For instance, in Singapore, the Financial Advisory Industry Review (FAIR) was introduced to improve the regulation standards and ensure transparency in sales products.

Over the past few years, developing nations, including India and China, have exhibited continual development, which is expected to offer flourishing opportunities to the segment growth in the Asia Pacific region. The growing infrastructure spending in this region is anticipated to drive the regional growth over the forecast period.

Logistics Insurance Market Share Insight

Some of the major companies include American International Group, Inc. (U.S.), Allianz SE (Germany), DB Schenker (Germany), Dawson Companies (U.S.), and G4S International Logistics (UK). Due to greater opportunities in both developed and developing countries, companies are undertaking strategic initiatives, such as mergers and acquisitions, new product development, and venture capital investments, to gain a market presence. Industry players are investing in technological solutions to improve the distribution, front-end sales, and customer service.

Report Scope



Base year for estimation


Actual estimates/Historic data

2014 - 2015

Forecast period

2016 - 2025

Market representation

Revenue in USD Billion & CAGR from 2016 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America & MEA

Country scope

U.S., Canada, UK, Germany, Japan, China,Singapore, Brazil, Mexico

Report coverage

Revenue forecast, company share, competitive landscape, growth factors and trends

15% free customization scope(equivalent to 5 analyst working days)

If you need specific market information, which is not currently within the scope of the report, we will provide it to you as a part of customization

Segments Covered in the Report

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the latest trends and opportunities in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the logistics insurance market on the basis of industry and region:

  • Industry Outlook (Revenue, USD Billion; 2014 - 2025)
    • Transportation

    • Marine

    • Aviation

    • Others

  • Region Outlook (Revenue, USD Billion; 2014 - 2025)
    • North America

      • The U.S.

      • Canada

    • Europe

      • Germany

      • UK

    • Asia Pacific

      • China

      • Japan

      • Singapore

    • Latin America

      • Mexico

      • Brazil

    • Middle East and Africa

gvr icn


gvr icn

This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.

gvr icn


We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities.

Contact us now to get our best pricing.

esomar icon

ESOMAR certified & member

D&B icon

Leading SME award by D&B

We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure. For more details, please read our privacy policy.

great place to work icon