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2024 U.S. Industry Statistics & Market Forecast - Direct Life Insurance Carriers
Market Size & Industry Statistics
The total U.S. industry market size for Direct Life Insurance Carriers:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2019 2020 2021 2022 2023 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|
| Market Forecast ($ millions) | |||||
| Projected Industry Growth Rate (%) | |||||
Industry Insights
Major trends affect the Direct Life Insurance Carriers industry include:- Increased digitalization and adoption of technology
- Shift towards more personalized insurance products
- Growing emphasis on health and wellness programs
- Expansion through online and mobile platforms
- Heightened regulatory scrutiny and compliance demands
- Rise of insurtech startups
- Increased use of data analytics and AI for risk assessment
- Demand for faster claim processing and automation
- Entry into emerging markets
- Impact of economic fluctuations on policyholder capacity
- Growing importance of environmental, social, and governance (ESG) factors in decision making
- Challenges and opportunities from an aging population
- Rising healthcare costs affecting policy pricing and benefits
- Cybersecurity threats and the need for secure digital solutions
- Shift towards hybrid distribution channels, combining digital and human interaction
Product & Services Breakdown
Research products and services in the Direct Life Insurance Carriers industry generating sales. Note that products are broken into categories with different levels of classification.| Product Description | Number of Companies | Sales ($ millions) | Percent of Total Sales |
|---|---|---|---|
Industry Total |
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Trading Debt Instruments On Own Account - Net Gains (Losses) |
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Trading Equities On Own Account - Net Gains (Losses) |
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Trading Other Securities And Commodity Contracts On Own Account - Net Gains (Losses) |
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Underwriting Services For Life Insurance - Net Premiums Earned |
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Individual Term Life |
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Individual Whole Life |
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Individual Universal Life |
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Group Life |
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Other Life |
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Underwriting Services For Pensions And Annuities - Fees |
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Variable Deferred Annuities |
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Fixed Rate Deferred Annuities |
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Immediate Annuities |
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Underwriting Services For Health And Accident Insurance - Net Premiums Earned |
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Individual Medical Service Plans |
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Other Health And Medical Insurance Services |
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Dental Service Plans - Group And Individual |
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Supplemental Medicare Insurance Plans |
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Group Managed Care Medical Service Plans |
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Accidental Death And Dismemberment, And Disability Income Insurance Plans |
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Underwriting Services For Vehicle Property And Liability Insurance Policies - Net Premiums Earned |
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Underwriting Services For Property And Liability Insurance Policies, Except Vehicle - Net Premiums Earned |
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Underwriting Services For Other General Liability Insurance Policies, Not Elsewhere Specified - Net Premiums Earned |
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Underwriting Services For Other Direct Insurance Policies - Net Premiums Earned |
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Reinsurance Services For Life And Health Insurance And Annuities - Premiums Assumed |
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Reinsurance Services For Property And Casualty Insurance - Premiums Assumed |
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Insurance Support Services - Third Party Administration |
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Other Services |
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U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) |
|
|---|---|---|
| Total Revenue | Order at top of page |
|
| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Direct Life Insurance Carriers company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Direct Life Insurance Carriers industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
|
| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
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| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Direct Life Insurance Carriers measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
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| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
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| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 11% | Order at top of page |
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| Chief Executives | 0% | |||
| General and Operations Managers | 2% | |||
| Business and Financial Operations Occupations | 22% | |||
| Business Operations Specialists | 19% | |||
| Computer and Mathematical Occupations | 13% | |||
| Computer Occupations | 10% | |||
| Healthcare Practitioners and Technical Occupations | 9% | |||
| Healthcare Diagnosing or Treating Practitioners | 8% | |||
| Registered Nurses | 7% | |||
| Registered Nurses | 7% | |||
| Sales and Related Occupations | 6% | |||
| Sales Representatives, Services | 5% | |||
| Office and Administrative Support Occupations | 34% | |||
| Information and Record Clerks | 17% | |||
| Customer Service Representatives | 16% | |||
| Customer Service Representatives | 16% | |||
| Other Office and Administrative Support Workers | 9% | |||
| Insurance Claims and Policy Processing Clerks | 7% | |||
| Insurance Claims and Policy Processing Clerks | 7% | |||
Direct Life Insurance Carriers Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Direct Life Insurance Carriers industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Direct Life Insurance Carriers industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Direct Life Insurance Carriers industry. |
Source:
Innovation News
- Jun 28, 2022: Partners Alliance trademarks "QUIET GAP" - Aftermarket claims administration services of guaranteed asset protection contracts and policies associated with the purchase and financing of motor vehicles
- Aug 17, 2021: Partners Alliance trademarks "PARTNERS WARRANTY" - Extended warranty services
- Nov 10, 2020: Partners Alliance trademarks "PARTNERS GAP" - Insurance services
- Jun 03, 2020: Sfa raises $5 million in funding.
Recent Federal Contracts for Direct Life Insurance Carriers
- Mar 29, 2024: GENERALI OSIGURANJE SRBIJA A.D.O. (Novi Beograd, ) awarded $14,673
- Mar 27, 2024: METROPOLITAN LIFE INSURANCE COMPANY (INC) (Bridgewater, NJ) awarded $5,124,786
- Mar 22, 2024: UAP LIFE ASSURANCE LIMITED (Nairobi, ) awarded $12,059
- Mar 21, 2024: GENERALI LIFE ASSURANCE (THAILAND) PUBLIC COMPANY LIMITED (Pathum Wan, BANGKOK) awarded $207,929
- Mar 05, 2024: SISA VIDA, SEGUROS DE PERSONAS SA (La Libertad, ) awarded $87,230
- Feb 29, 2024: SEGUROS ATLAS, S.A. (Mexico, CIUDAD DE ) awarded $13,898
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