21st Century Holding - Competitors

21st Century Holding Competition

Now Viewing 21st Century Holding's competition in: Insurance Carriers

Recent Developments

Legislation Addresses Genetic Testing Concerns - </strong>Genetic testing, which can reveal the potential for disease in some people, can't be used to prevent someone from getting health insurance or to adjust their rates, according to legislation awaiting House approval. The legislation passed the Senate, and is expected to pass in the House. Some fear that the negative information revealed via genetic testing could be used by insurance companies to deny coverage.

State Farm Judgment may Set Precedent - </strong>Hurricane Katrina is still causing trouble for the insurance industry. Louisiana is using incentives to bring insurers back to the area to offer homeowner insurance, and several legal cases regarding property damage are still in the courts. Most recently, a $1 million judgment against State Farm was overturned by a US Court of Appeals. The ruling, which hinged on whether property damage was caused by wind or water, could set a precedent for other cases against State Farm and other insurers in the area.

Insurance Carriers Allow Overseas Procedures - </strong>A growing trend of insurance carriers is to work with patients to have medical procedures done overseas, often at a lower cost than in US hospitals. "Medical travel" is most popular among insurers with large employer-clients, such as Aetna. Some carriers are working on policy guidelines for their private medical insurance clients, while also addressing liability concerns.

Competitive Landscape

Demand is driven by demographics and commercial transactions. The profitability of individual companies depends on effective marketing and on the ability to accurately estimate future payments. Large companies have big economies of scale in administration and in access to capital. Small companies can compete successfully by specializing in particular products or industries.

Full Industry Overview For Insurance Carriers

Insurance Carriers Industry Forecast

from Hoover's/D&B subsidiary First Research

The output of US insurance is forecast to grow at an annual compounded rate of 3 percent between 2007 and 2012.

Insurance Carriers Growth Level

First Research forecasts are based on INFORUM forecasts that are licensed from the Interindustry Economic Research Fund, Inc. (IERF) in College Park, MD. INFORUM's "interindustry-macro" approach to modeling the economy captures the links between industries and the aggregate economy.