Personal Accident and Health Insurance in Peru, Key Trends and Opportunities to 2019

Date: 2015-12

“• The personal accident and health insurance segment accounted for 9.5% of the Peruvian insurance industry’s gross written premium in 2014.

• The statutory auto liability insurance (SOAT) is a compulsory personal accident insurance for all owners of motor vehicles, and covers the expenses of both the insured and all persons involved in an accident.

• The low turnover of healthcare professionals therefore keeps healthcare service levels underpenetrated in the country.

• The poverty rates in the country declined from 59.0% of the total population in 2004 to 23.0% in 2014.

• Rise in healthcare costs, outbound travel expenditure, economic growth, and vehicle sales are all expected to contribute towards the growth of the personal accident and health segment over the forecast period.”

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