Prämieninflation

Prämieninflation refers to a phenomenon observed in insurance markets where premiums increase faster than the general rate of inflation. This divergence occurs due to a combination of factors specific to the insurance industry. One primary driver is the increasing cost of claims. This can be attributed to various reasons such as rising healthcare costs, more frequent or severe natural disasters, increased litigation, and advancements in medical technology that lead to more expensive treatments. Insurers respond to these escalating claim costs by raising premiums to maintain profitability and solvency.

Another contributing factor can be the underwriting cycle. In periods of intense competition, insurers may lower premiums to gain market share. When this leads to insufficient profitability or significant losses, insurers often raise premiums sharply to compensate for prior underpricing and to rebuild reserves. Regulatory changes and increased compliance costs can also put upward pressure on premiums. Furthermore, changes in consumer demand, such as an increased desire for more comprehensive coverage or a greater awareness of potential risks, can also influence premium levels. Effectively, Prämieninflation represents the insurance sector's adjustment to a complex interplay of economic, social, and industry-specific pressures that go beyond the general price level.