DUBLIN--(BUSINESS WIRE)--The "Global Professional Indemnity Insurance - Procurement Market Intelligence Report" report has been added to ResearchAndMarkets.com's offering.
Professional indemnity insurance is a sub-category of liability and financial insurance. It refers to a form of liability insurance that protects businesses that provide advice or professional services to clients. The insurance provides compensation claims to businesses in case of any damages or losses. For example, if a buyer allegedly provides inadequate advice, services, or designs that cause its client financial loss, then professional indemnity insurance covers the related legal costs and expenses.
Factors such as rapid urbanization across emerging markets are encouraging the shift from an agro-based or industrial economy to a service-sector economy, which in turn has increased the sales of professional indemnity insurance. The adoption and implementation of digital technologies and analytics in professional indemnity insurance helps service providers tap new market opportunities in terms of acquiring additional premiums, better risk management, and improved consumer experience.
The report provides actionable insights to improve source-to-contract cycle performance in the Global Professional Indemnity Insurance Market. It helps sourcing professionals formulate better category strategies, enhance savings, understand supplier and market challenges, and implement sourcing best practices.
One of the procurement best practices for buyers is to assess service providers' capability to employ analytical tools for effective calculation of insurance premiums. According to the report, one of the key growth contributors for the global professional indemnity insurance market is the rapid urbanization across emerging markets. Further, the report states that one of the key category management strategies for the buyers in the global professional indemnity insurance market is to reduce the procurement and operational costs by consolidating various insurance services under one vendor.
Companies Mentioned
- Allianz
- AIG
- AXA
- Aon
- Chubb
- Zurich Insurance Group
Key Topics Covered:
1: Executive Summary
2: Market Insights
3: Category Pricing Insights
4: Cost-Saving Opportunities
5: Best Practices
6: Category Ecosystem
7: Category Management Strategy
8: Category Management Enablers
9: Suppliers Selection
10: Suppliers Under Coverage
11: U.S. Market Insights
12: Category Definition
13: Appendix
For more information about this report visit https://www.researchandmarkets.com/research/f256mq/global?w=4
