SpendEdge Professional Liability Insurance Survey Finds Market To Grow $ 7.79 Billion By 2024


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Main price trends in the professional liability insurance purchasing market

Pressure from substitutes and a moderate level of threat from new entrants resulted in moderate bargaining power from suppliers. It is therefore extremely important to clearly define the prices and the pricing model. Buyers should align their preferred pricing models for professional liability insurance with the industry as a whole and identify the potential for cost savings.

  • The most widely adopted pricing models in the professional liability insurance market
    • Reference-based pricing model
    • Risk-based pricing model

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Expenditure growth and demand by region

The report provides a detailed analysis of the outlook for global professional liability insurance expenditure at the global and regional levels. The current spending scenario, growth outlook, additional spending and other key information are available individually for North America, South America, Europe, Middle East and Africa, and APAC.

For a detailed analysis of the regional factors behind professional liability insurance:

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Sourcing strategies most adopted by buyers in the professional liability insurance market

The report provides a detailed overview of the sourcing strategies most adopted by buyers across all industries and an analysis of these strategies in terms of innovation, regulatory compliance, quality, sourcing and cost. Adopting these sourcing strategies will allow buyers to reduce the category’s total cost of ownership and cost savings while sourcing thermal equipment.

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The responses from this sourcing report help buyers identify and shortlist the most suitable suppliers for their Professional liability insurance market requirements following questions:

  • Am I engaged with the right suppliers?
  • What KPIs should I use to assess my incumbent suppliers?
  • What are the criteria for selecting relevant suppliers?
  • What are the essential elements of the workplace computing device category in terms of SLA and RFx?

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About SpendEdge:

SpendEdge shares your passion for sourcing and sourcing excellence. We are the preferred sourcing market intelligence partner for more than 120 Fortune 500 companies and other leading companies in many industries. Our strength lies in providing robust, real-time reporting and market information solutions.

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