Evolution of Insurance Sector: A Global Perspective

Insurance markets have changed radically in the last 20 years. There are some key developments in insurance as well as financial services market which has a greater impact on global scale. It influences globally with some constraints. The insurance marketing has become a vital part of some national as well as international market. The incremental development focuses on cultural, legal, institutional, and demographic consideration that impact the emerging global trends. The authors attempt to address the global similarities of national insurance market and the local contingencies that create differences among markets. The purpose here is to analyze the global insurance industry and to show the diversity of insurance market at large.