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Global Insurance Potential Index

Global Insurance Potential Index – MAPFRE GIP 2023

The Global Insurance Potential Index (GIP-MAPFRE) is an indicator whose purpose is to provide a comprehensive view of the opportunities and challenges in the world of insurance. This index is based on a series of indicators and metrics that assess the capacity of insurance markets to create and consume the so-called Insurance Protection Gap (IPG), i.e., the difference between the need for protection and the actual existing coverage. According to this report, in 2022, the global insurance gap reached $7.8 trillion, up 14.3% from the previous year, equivalent to 7.8% of global GDP. 69.1% of this figure is distributed in the Life insurance segment and the remaining 30.9% in the Non-Life segment. Furthermore, more than 77.6% of the current insurance gap is in emerging markets, indicating their great growth potential.

Global Insurance Potential Index-MAPFRE GIP 2023 (English)
Global Insurance Potential Index-MAPFRE GIP 2023 (Spanish)

Global Insurance Potential Index – MAPFRE GIP 2022

The report presents the update of the Global Insurance Potential Index, GIP-MAPFRE, which, based on estimates of the size of the Insurance Protection Gap for the 96 most relevant insurance markets in the world, offers a score that ranks each of them according to their contribution to closing the global insurance gap, as well as their ability to converge to the penetration and density levels of the more developed markets. The report highlights, in the context of the economic recovery observed in 2021, those countries that have been termed “promising markets”, which are characterized by their significant insurance potential and could overtake other emerging markets on the insurance index as their economies become larger.

Global Insurance Potential Index – MAPFRE GIP 2022 (English)
Global Insurance Potential Index – MAPFRE GIP 2022 (Spanish)
Global Insurance Potential Index – MAPFRE GIP 2022 (Spanish) (ePub)

Global Insurance Potential Index – MAPFRE GIP 2021

The insurance markets with the greatest potential in Life and Non-Life business are presented in this new report for a sample of 96 countries, which account for more than 97% of the premium volume in 2020. Based on the insurance potential and the Insurance Protection Gap estimates, the report offers an analysis of the impact the economic crisis caused by the pandemic has had on the development of the insurance business potential for both segments and by different economic regions. It also includes the classification of the main components that make up the insurance potential gap by geographic area and the years needed to close the insurance gap by country and line of business.

Global Insurance Potential Index-MAPFRE GIP 2021 (English)
Global Insurance Potential Index-MAPFRE GIP 2021 (Spanish)
Global Insurance Potential Index-MAPFRE GIP 2021 (Portuguese)
Global Insurance Potential Index-MAPFRE GIP 2021 (English) (ePub)
Global Insurance Potential Index-MAPFRE GIP 2021 (Spanish) (ePub)

Global Insurance Potential Index – MAPFRE GIP 2020

This new report gives the updated Global Insurance Potential Index (MAPFRE-GIP 2020), which analyzes 96 insurance markets, both developed and emerging, the economic and demographic factors that determine Insurance Protection Gap growth, as well as a measurement of each market’s capacity to close the insurance gap (speed of convergence of penetration levels and density of developed markets).

Global Insurance Potential Index – MAPFRE GIP 2020 (English)
Global Insurance Potential Index – MAPFRE GIP 2020 (Spanish)
Global Insurance Potential Index – MAPFRE GIP 2020 (English) (ePub)
Global Insurance Potential Index – MAPFRE GIP 2020 (Spanish) (ePub)

Global Insurance Potential Index – MAPFRE GIP 2019

This report shows the updated MAPFRE GIP (Global Insurance Potential Index) for 96 insurance markets, both developed and emerging. The index was originally provided in 2018, based on analysis of economic and demographic factors used to determine the Insurance Protection Gap, as well as the measurement of the ability to close the insurance gap in each market (speed of convergence of penetration levels and density of developed markets). It measures this potential based, on the one hand, on the countries’ capacities to create an insurance gap, and on the other hand, to materialize that capacity in effective growth in the insurance market.

Global Insurance Potential Index-MAPFRE GIP 2019 (English)
Global Insurance Potential Index-MAPFRE GIP 2019 (Spanish)
Global Insurance Potential Index-MAPFRE GIP 2019 (Spanish) (ePub)

Global Insurance Potential Index – MAPFRE GIP 2018

Based on an analysis of the economic and demographic factors that determine the behavior of the Insurance Protection Gap, this report proposes an index that measures the potentiality of insurance markets considering their capacity to, on the one hand, create an insurance gap and, on the other hand, materialize it in a new insurance market. The MAPFRE-GIP, which was calculated for 96 insurance markets (both developing and emerging), makes it possible for us to have a comparative perspective of the insurance industry’s global potential for expansion in the coming years.

Global Insurance Potential Index-MAPFRE GIP 2018 (English)
Global Insurance Potential Index-MAPFRE GIP 2018 (Spanish)

Global Insurance Potential Index

The GIP-MAPFRE (Global Insurance Potential Index) is an indicator that provides a score and ranking that allows insurance markets to be ranked according to the potential contribution to closing the global insurance gap. This indicator has been calculated for a total of 96 insurance markets, both developed and emerging, allowing us to offer a comparative view of the global potential for expansion of the insurance industry in the coming years.

Global Insurance Potential Index (English)
Global Insurance Potential Index (Spanish)
Global Insurance Potential Index (English) (ePub)
Global Insurance Potential Index (Spanish) (ePub)