Connect with us
MARE BALTICUM Gaming & TECH Summit 2024

Artificial Intelligence

Global Fire Insurance Market Size Is Poised To Reflect $30.93 Billion by 2028, with a Compound Annual Growth Rate of around 5.20%: Exploring Emerging Opportunities, Key Players and Strategies

Published

on

<!– Name:DistributionId Value:8800683 –> <!– Name:EnableQuoteCarouselOnPnr Value:False –> <!– Name:IcbCode Value:2791 –> <!– Name:CustomerId Value:1092386 –> <!– Name:HasMediaSnippet Value:false –> <!– Name:AnalyticsTrackingId Value:86f4943a-2523-4800-8091-c8958ed7a6f1 –>

Washington, DC, April 03, 2023 (GLOBE NEWSWIRE) — Zion Market Research has published a new research report titled “Global Fire Insurance Market By Coverage (Standard Coverage And Optional Coverage), By Enterprise Size (Large Enterprises, And Small And Medium-Sized Enterprises), By Industry Vertical (Manufacturing, Healthcare, Energy & Utilities, Retail And Consumer Goods, I.T. & Telecom, Hospitality, And Others), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028” in its research database.

“According to the latest research study, the demand of global Fire Insurance Market size & share in terms of revenue was valued at USD 22,813.70 million in 2021 and it is expected to surpass around USD 30,923.60 million mark by 2028, growing at a compound annual growth rate (CAGR) of approximately 5.20% during the forecast period 2022 to 2028.”

What is Fire Insurance? How big is the Fire Insurance Industry?

Report Overview:

The global fire insurance market size was worth USD 22,813.70 million in 2021 and is estimated to grow to USD 30,923.60 million by 2028, with a compound annual growth rate (CAGR) of around 5.20 percent during the forecast period. The report analyzes the fire insurance market’s drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the fire insurance market.

Fire insurance is an agreement between the policyholder and the insurance company to cover all loss and damage caused by fire to the insured’s property. Fire accidents are sudden and can happen instantaneously anywhere, including businesses, homes, and other places, due to fire, explosion, water tank rupture, and other causes. These factors cause enormous damage and expose policyholders to financial risk, driving consumer demand for fire insurance policies.

Fire insurance is a type of property insurance often included in a homeowner’s policy and provides coverage against property damage caused by fire. Key factors driving the development of fire insurance market trends include growing demand for insurance policies, growing need for financial security in the face of increased uncertainties, and the growing number of assets are the key factors driving the growth of the global fire insurance market. In addition, the lack of knowledge about fire insurance policies and high insurance costs hinders the market growth. Furthermore, the implementation of technologies in existing products & service lines and government initiatives related to fire insurance policies are expected to provide lucrative opportunities for market expansion during the forecast period.

Get a Free Sample PDF of this Research Report for more Insights with a Table of Content, Research Methodology, and Graphs – https://www.zionmarketresearch.com/sample/fire-insurance-market

(A free sample of this report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the Following:

  • Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
  • The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
  • About 267+ Pages Research Report (Including Recent Research)
  • Provide detailed chapter-by-chapter guidance on Request
  • Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2022
  • Includes Tables and figures have been updated
  • The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
  • Zion Market Research research methodology

(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)

Global Fire Insurance Market: Growth Factors

Insurers face increasing pressure to invest in and develop new products that are less popular but provide strong coverage in the case of destruction, replacement, or other damage caused by perils like lightning strikes, fires, aircraft damage, riots, strikes, and intentional mischief. There has been an increase in natural disasters like hurricanes, tornadoes, and earthquakes in recent years. Due of this, having fire insurance is even more important. Financial losses from fires to buildings, contents, and other fixed assets are typically covered by insurance policies for businesses and households. To keep ahead of the competition in the global fire insurance industry and make their products more appealing to customers, insurers have increased the amount of coverage they offer.

Directly Purchase a copy of the report with TOC @ https://www.zionmarketresearch.com/buynow/su/fire-insurance-market

Report Scope

Report Attribute Details
Market Size in 2021 USD 22,813.70 million
Projected Market Size in 2028 USD 30,923.60 million
CAGR Growth Rate 5.20% CAGR
Base Year 2021
Forecast Years 2022-2028
Key Market Players Amica Mutual Insurance Company, Allianz S.E., Axa S.A., Assicurazioni Generali S.p.A., Ping An Insurance Company of China Ltd., Liberty Mutual Fire Insurance Company, State Farm Insurance, The Government Employees Insurance Company, The Allstate Corporation, and United Services Automobile Association.
Key Segment By Coverage, By Enterprise Size, By Industry Vertical, and By Region
Major Regions Covered North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
Purchase Options Request customized purchase options to meet your research needs. Explore purchase options

Segmentation Analysis: Segmentation Analysis

The global fire insurance market is segregated based on coverage, enterprise size, industry vertical, and region. By coverage, the market is divided into standard coverage and optional coverage. Among these, in 2021, standard fire insurance dominated the global market. By enterprise size, the market is bifurcated into large enterprises and small & medium-sized enterprises. Over the forecast period, the large enterprise segment is expected to develop at the fastest rate due to the rising adoption of fire insurance. On the basis of industry vertical, the market is bifurcated into manufacturing, healthcare, energy and utilities, retail & consumer goods, IT & telecom, hospitality, and others. In 2021, the manufacturing category had a major share.

The global Fire Insurance market is segmented as follows:

By Coverage

  • Standard Coverage
  • Optional Coverage

By Enterprise Size

  • Large Enterprises
  • Small and Medium-sized Enterprises

By Industry Vertical

  • Manufacturing
  • Healthcare
  • Energy and Utilities
  • Retail and Consumer Goods
  • I.T. and Telecom
  • Hospitality
  • Others

Browse the full “Global Fire Insurance Market By Coverage (Standard Coverage and Optional Coverage), By Enterprise Size (Large Enterprises, and Small and Medium-sized Enterprises), By Industry Vertical (Manufacturing, Healthcare, Energy & Utilities, Retail and Consumer Goods, I.T. & Telecom, Hospitality, and Others), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028” Report at https://www.zionmarketresearch.com/report/fire-insurance-market

Competitive Landscape

Some of the main competitors dominating the global Fire Insurance market include – 

  • Amica Mutual Insurance Company
  • Allianz S.E.
  • Axa S.A.
  • Assicurazioni Generali S.p.A.
  • Ping An Insurance Company of China Ltd.
  • Liberty Mutual Fire Insurance Company
  • State Farm Insurance
  • The Government Employees Insurance Company
  • The Allstate Corporation
  • United Services Automobile Association.

 Key Insights from Primary Research:

  • According to the analysis shared by our research forecaster, the Fire Insurance market is likely to expand at a CAGR of around 5.20% during the forecast period (2022-2028).                                            
  • In terms of revenue, the Fire Insurance market size was valued at around US$ 22,813.70 million in 2021 and is projected to reach US$ 30,923.60 million by 2028.
  • Key factors driving the development of fire insurance market trends include growing demand for insurance policies, growing need for financial security in the face of increased uncertainties, and the growing number of assets are the key factors driving the growth of the global fire insurance market.
  • By coverage, the standard coverage segment dominated with accounted significant market share in 2021.
  • By enterprise size, the large enterprise segment accounted significant amount of market share in 2021.
  • In 2021, North America captured the largest revenue share of the global market.

Have Any Query? Ask Our Experts: https://www.zionmarketresearch.com/inquiry/fire-insurance-market

Key questions answered in this report:

  • What is the market size and growth rate forecast for Fire Insurance industry?
  • What are the main driving factors propelling the Fire Insurance Market forward?
  • What are the leading companies in the Fire Insurance Industry?
  • What segments does the Fire Insurance Market cover?
  • How can I receive a free copy of the Fire Insurance Market sample report and company profiles?

Key Offerings:

  • Market Size & Forecast by Revenue | 2022−2028
  • Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
  • Market Segmentation – A detailed analysis By Coverage, By Enterprise Size, By Industry Vertical, and By Region
  • Competitive Landscape – Top Key Vendors and Other Prominent Vendors

Request for Customization on this Report as per your requirements – https://www.zionmarketresearch.com/custom/6282

(We tailor your report to meet your specific research requirements. Inquire with our sales team about customising your report.)

Regional Analysis:

The global fire insurance market revenue was dominated by North America in 2021 and is expected to maintain its position during the forecast period. Key factors driving market growth in this region include the presence of key players such as Allstate Insurance Company and USAA. Furthermore, the increase in the incidence of lightning strikes, fires, accidents, injuries, and property damage by others is driving the adoption of fire insurance in this area. However, the Asia-Pacific region is expected to witness a significant growth rate during the forecast period due to increased construction and real estate activities. In addition, the International Fire Safety Standards in Asia focus on developing regulations to improve investment in infrastructure and provide more consistency in fire safety levels and minimal fire by setting specific standards, which is expected to offer lucrative opportunities for the market in this region.

By Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • France
    • UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

Recent Developments

  • In May 2022, Amica Insurance Company partnered with Rocket Mortgage to enter the mortgage insurance space.
  • In May 2022, Liberty Mutual Insurance has decided to acquire Fetch Technology to purchase certain technology assets of insurance portal services.

To know an additional revised 2022 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/fire-insurance-market

Fire Insurance Market: Opportunities

The supportive government initiatives bring up several growth opportunities
More and more insurance service providers are using advanced technologies such as geolocation, fire alarm warning, fire security detection, fireproof skeleton protection, artificial intelligence (A.I.), fingerprint, blockchain, and big data. This gives market underwriters new ways of doing business; with these technological advancements, fire delivery platforms will offer more averaging, such as averaging policy, consequential loss policy, claim policy, and others, faster and more accessible at the point of sale. Additionally, digital transformation enables fire insurers to provide highly personalized user experiences to their customers. Also, to maintain their position in the global fire insurance market, insurance companies are looking at using big data analytics, which can help them charge high premiums. In addition, technologies help collect data to meet individual customer needs, calculate risk, and detect fraud. Therefore, technological advances that make fire insurance easier to buy and use more conveniently will likely create good business opportunities for insurers.

Browse Other Related Research Reports from Zion Market Research:

Usage-Based Insurance Market: https://www.zionmarketresearch.com/report/usage-based-insurance-market

Fire Insurance Market: https://www.zionmarketresearch.com/report/fire-insurance-market

Healthcare Insurance Market: https://www.zionmarketresearch.com/report/healthcare-insurance-market

Dental Insurance Market: https://www.zionmarketresearch.com/report/dental-insurance-market

Long Term Care Insurance Market: https://www.zionmarketresearch.com/report/long-term-care-insurance-market

Travel Insurance Market: https://www.zionmarketresearch.com/report/travel-insurance-market

Pet Insurance Market: https://www.zionmarketresearch.com/report/pet-insurance-market

Logistics Insurance Market: https://www.zionmarketresearch.com/report/logistics-insurance-market

Cyber Insurance Market: https://www.zionmarketresearch.com/report/cyber-insurance-market

Business Travel Accident Insurance Market: https://www.zionmarketresearch.com/report/business-travel-accident-insurance-market

Marine Insurance Market: https://www.zionmarketresearch.com/report/marine-insurance-market

Blockchain in Insurance Market: https://www.zionmarketresearch.com/report/blockchain-in-insurance-market

IoT Insurance Market: https://www.zionmarketresearch.com/report/iot-insurance-market

Mobile Phone Insurance Ecosystem Market: https://www.zionmarketresearch.com/report/mobile-phone-insurance-ecosystem-market

Insurance Analytics Market: https://www.zionmarketresearch.com/report/insurance-analytics-market

Insurance Brokerage Market: https://www.zionmarketresearch.com/report/insurance-broking-market

About Zion Market Research:

Zion Market Research is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Zion Market Research are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds.

Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.

Follow Us on LinkedIn: https://www.linkedin.com/company/zion-market-research/

Follow Us on Twitter: https://twitter.com/zion_research

Follow Us on Facebook: https://www.facebook.com/zionmarketresearch

Follow Us on Pinterest: https://www.pinterest.com/zionmarketresearch/

Follow Us on YouTube: https://youtu.be/Y0Yfi7N8zSs

Contact Us:

Rushikesh Dorge

USA: +1 347 690-0211

United Kingdom: +44 2032 894158

Japan: +81 50 5806 9039

India: +91 7768 006 007

Web: https://www.zionmarketresearch.com/

Blog: https://zmrblog.com/

Still, Looking for More Information? OR Want Data for Inclusion in Magazine, Case Study, or Media?

Email Directly Here with Detail Information: [email protected]

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

Brainomix Achieves Breakthrough with FDA Clearance of e-Lung AI Software

Published

on

brainomix-achieves-breakthrough-with-fda-clearance-of-e-lung-ai-software

Established market leader in stroke AI imaging receives its first FDA clearance in the lung imaging space.With this expanded foundation of AI-driven healthcare solutions, the Oxford-based company remains committed to driving innovation and delivering impactful advancements in imaging biomarkers.OXFORD, England, and CHICAGO, May 17, 2024 /PRNewswire/ — Brainomix, a pioneer in artificial intelligence (AI) imaging solutions to enable precision medicine, is proud to announce the FDA clearance of its latest product, Brainomix 360 e-Lung. Brainomix’s entry into the lung imaging space follows a series of successful clearances and widespread clinical adoption of its Brainomix 360 Stroke platform in both the US and Europe.

The clearance of e-Lung marks a significant milestone in Brainomix’s journey to expand its footprint in medical imaging beyond stroke-related applications and represents a notable step forward in the quest for advanced lung imaging solutions. The company, with its rich academic heritage and record of scientific excellence, will expand its research collaborations in the pulmonology space to yield new insights to inform future iterations of e-Lung and chart a path towards continual improvements for the lung imaging technology.
Dr Deji Adegunsoye, Assistant Professor of Medicine and Scientific Director of the Interstitial Lung Disease Program at University of Chicago Medicine, said: “This is an exciting step for Brainomix, who have a demonstrated track record of developing novel AI-based solutions in stroke and are now applying that expertise to develop innovative tools in the lung space. The preliminary data for e-Lung is impressive and would indicate that we have a promising tool that could help to expedite healthcare delivery and improve clinically meaningful outcomes for patients with lung disease.”
Brainomix recently announced the publication of a new study1 in the prestigious peer-reviewed journal American Journal of Respiratory and Critical Care Medicine (AJRCCM), resulting from a research collaboration with AstraZeneca. The results showed that Brainomix’s proprietary lung imaging biomarkers, which include the weighted reticulovascular score (WRVS), stratified patients at risk of Idiopathic Pulmonary Fibrosis (IPF) progression, outperforming standard measures.
Dr Michalis Papadakis, CEO and Co-Founder of Brainomix, said: “We are harnessing our expertise in AI-powered imaging to develop novel biomarkers in other disease indications where AI can support imaging-based diagnostic and treatment decisions.
“This e-Lung FDA clearance reflects our focus on developing innovative solutions that empower healthcare professionals with cutting-edge tools for sophisticated disease evaluation, enhancing access to treatments that can ultimately work to improve patient outcomes.”
Brainomix will be presenting its latest e-Lung data at the American Thoracic Society (ATS) annual conference in San Diego May 17th – 22nd, including results from research collaborations with Heidelberg University and with Seattle-based Avalyn Pharma.
Am. J. Respir. Crit. Care Med.: 2024 Feb 16 – e-Lung CT Biomarker Stratifies Patients at Risk of IPF Progression in a 52-Week Clinical Trialhttps://www.atsjournals.org/doi/abs/10.1164/rccm.202312-2274LEAbout Brainomix
Brainomix specializes in the creation of AI-powered software solutions to enable precision medicine for better treatment decisions in stroke and lung fibrosis. With origins as a spin-out from the University of Oxford, Brainomix is an expanding commercial-stage company with offices in the UK, Ireland and the USA, and operations in more than 30 countries. A private company, backed by leading healthtech investors, Brainomix has innovated award-winning imaging biomarkers and software solutions that have been clinically adopted in hundreds of hospitals worldwide. Its first product, the Brainomix 360 stroke platform, provides clinicians with the most comprehensive stroke imaging solution, driving increased treatment rates and improving functional independence for patients.
To learn more about Brainomix and its technology visit www.brainomix.com, and follow us on Twitter, LinkedIn and Facebook.
Contacts
Jeff Wyrtzen, Chief Marketing & Business Development [email protected] +44 (0)7927 164210T +44 (0)1865 582730
Media enquiries
Charles ConsultantsSue [email protected] M +44 (0)7968 726585
Logo – https://mma.prnewswire.com/media/1989193/3856380/Brainomix_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/brainomix-achieves-breakthrough-with-fda-clearance-of-e-lung-ai-software-302144836.html

Continue Reading

Artificial Intelligence

CUBE acquires global regulatory intelligence businesses from Thomson Reuters

Published

on

cube-acquires-global-regulatory-intelligence-businesses-from-thomson-reuters

LONDON, May 17, 2024 /PRNewswire/ — CUBE, a global leader in Automated Regulatory Intelligence (ARI) and Regulatory Change Management (RCM), announces today its acquisition of the Thomson Reuters Regulatory Intelligence and Oden products and businesses.

The acquisition of these global businesses represents a major step forward in CUBE’s growth plans. It will deliver significant scale across many of the world’s leading and systemically important financial institutions. CUBE’s existing global customer base will be expanded to total approximately 1,000 customers in banking, insurance, asset and investment management, payments and adjacent regulated industries.
CUBE’s global employees will expand to 600, of which close to 250 are highly qualified regulatory subject matter experts, legal and compliance professionals.
Ben Richmond, founder and CEO of CUBE said: “Thomson Reuters is known to be the biggest and best in the industry for providing regulatory expert analysis and subject matter expertise, alongside world-leading journalism and news. The combination of CUBE’s purpose-built AI, with the years of content curated by Thomson Reuters Regulatory Intelligence and Oden expert analysts, will accelerate innovation. Together, we will deliver regulatory transformation capabilities for our global customers that could only have been imagined before.”
Richmond continues: “This combination will provide tremendous scale and depth across CUBE’s regulatory content and technology. It is a significant step toward creating an industry-defining regulatory compliance and risk platform that will benefit all customers and elevate the industry as a whole.”
Through this acquisition, CUBE will provide an expanded and comprehensive selection of specialized regulatory intelligence and regulatory change services, committed to excellence, quality, and highly contextualised and meaningful regulatory content for customers. By combining cutting-edge technology and subject matter expertise at scale CUBE will set a new bar for the industry in regulatory automation and content.
Chris Maguire, General Manager, Risk and Fraud, Corporates, Thomson Reuters said: “It was clear to us that CUBE had established itself as a leading regulatory intelligence provider for global enterprise clients in the financial services and insurance sectors. We wanted to ensure our customers and employees could work with an organisation that would continue to innovate and significantly invest in solutions like Thomson Reuters Regulatory Intelligence and Oden. We are working tirelessly to ensure a seamless and value-enhancing transition for customers and employees, and we are looking forward to working with the CUBE team during this transition.” 
Christopher Fielding, Hg, said: “We’re delighted to further extend our market reach, bringing in two high quality and complementary global businesses to the CUBE platform.”
Thomas Martin, Hg, added: “We see these acquisitions as enabling further innovation in the regulatory intelligence and change management sector, leading to strengthened demand for these quality solutions across the globe.”
The terms of the transaction will not be disclosed.
About CUBE
CUBE provides a highly comprehensive and robust source of classified, and meaningful AI-driven regulatory data to power its Automated Regulatory Intelligence (ARI) and Regulatory Change Management (RCM) solutions. CUBE’s purpose-built regulatory technology including its AI engine (RegBrain) and software platform (RegPlatform) tracks, analyses, and monitors laws, rules, and regulations in every country and in every published language to create an always up-to-date regulatory footprint that transforms visibility and compliance capability for customers across the globe.
With operations across Europe, North America, Canada, Asia, and Australia, CUBE serves a diverse and global base of customers and partners including the largest financial institutions in the world who leverage CUBE’s platform to streamline their complex regulatory intelligence and change management processes.
Following the strategic partnership with Hg in March 2024, CUBE announced the acquisition of US-based Reg-Room in May 2024.
About Hg
Hg supports the building of sector-leading enterprises that supply businesses with critical software applications or workflow services, delivering a more automated workplace for their customers.
This industry is characterised by digitisation trends that are in early stages of adoption and are set to transform the workplace for professionals over decades to come. Hg’s support combines deep end-market knowledge with world class operational resources, together providing compelling support to entrepreneurial leaders looking to scale their business – businesses that are well invested, enduring and serve their customers well.
With a vast European network and strong presence across North America, Hg’s 400 employees and around $70 billion in funds under management support a portfolio of around 50 businesses, worth over $140 billion aggregate enterprise value, with over 110,000 employees, consistently growing revenues at more than 20%.
About Regulatory Intelligence
Regulatory Intelligence is a proactive, connected, and comprehensive solution that tracks and analyses regulatory changes within ~2,000 regulatory bodies and rulebooks for more than 20 countries. It enables banking, financial services, and insurance (BFSI) sectors to manage exposure to operational, regulatory, and compliance risk.
About Oden
Oden State Rules and Regulations (SR&R), Oden Policy Terminator/Sentry PT, and OdenTrack provide repositories and automated solutions for complying with state rules and regulations on the provisioning of Personal and Business Insurance in the US.

View original content:https://www.prnewswire.co.uk/news-releases/cube-acquires-global-regulatory-intelligence-businesses-from-thomson-reuters-302147604.html

Continue Reading

Artificial Intelligence

Cayman Enterprise City Publishes Socio-Economic Impact Assessment by Economist and Leading Advisor on the Caribbean, Marla Dukharan

Published

on

cayman-enterprise-city-publishes-socio-economic-impact-assessment-by-economist-and-leading-advisor-on-the-caribbean,-marla-dukharan

The Impact of Cayman Enterprise City’s Socio-Economic Development Project Nears USD $1 Billion
GRAND CAYMAN, Cayman Islands, May 16, 2024 /PRNewswire/ — Cayman Enterprise City (CEC) has released a Socio-Economic Impact Assessment by Marla Dukharan. The report illustrates that CEC is increasing its impact by supporting higher earnings for Caymanians and is driving a shift towards a knowledge-based economy by focusing on high productivity sectors. The release by Dukharan reads, “Caymanian resourcefulness and private sector-led innovation have been the driving force behind the islands’ outstanding socio-economic success. Cayman Enterprise City underpins the next generation of Cayman innovation and dynamism.”

With an economic impact of USD $130 million in 2023, contributing just under USD $1 billion to the local economic activity in 12 years since inception, “CEC is helping the nation to diversify economically, in terms of sectors and jobs, ensuring locals have economic and employment opportunities that match the nation’s progress,” the report reads.
The CEC socio-economic development project is now home to 352 Special Economic Zones Companies (SEZCos), many of which are globally recognised institutions led by top executives and industry experts. “CEC member companies are providing high-value employment with salaries exceeding those typically found outside of the special economic zone,” said Charlie Kirkconnell, Chief Executive Officer at CEC. “The CEC community is fully invested in Cayman and the report illustrates that the CEC socio-economic development project is making a very significant impact on Cayman’s economy and community.”
“As CEC continues to grow, it continues to create significant employment and entrepreneurial opportunities for Caymanians and we encourage anyone that might be interested in finding out how they might get involved, whether as a member of the community and/or as a volunteer in our Enterprise Cayman non-profit organisation (NPO).”
77% of Caymanian-held jobs at CEC member companies, are in sectors with high social returns and increasing global demand. “By putting skills first and prioritizing learning, CEC is enabling new industries to take root,” the release by Dukharan reads.
CEC, through its Enterprise Cayman NPO, is a first-mover in private sector-facilitated education and training in the Caribbean, making it a leading force to boost youth participation in the economy. By offering training in specialised skills, Enterprise Cayman is helping to close the gap in higher education and earnings for Caymanians. “Through Enterprise Cayman we’ve set out to strategically support meaningful employment and entrepreneurial opportunities for Caymanians, by providing internship and mentorship opportunities, by hosting skill-building and career focused training, and by providing invaluable networking and community engagement opportunities,” said Kirkconnell.
In 2023 individuals took advantage of 4,226 opportunities to participate in education, training, and career development events and, since launching entrepreneurial programming in 2021, Enterprise Cayman has worked with 41 new Cayman-born business ventures. “We’re helping to develop a local talent pool that meets the demand of Cayman’s growing digital innovation and technology sectors while, in parallel, offering exciting opportunities for individuals to launch new business ventures within an innovative business environment,” said Kirkconnell.  
With CEC’s new campus and state-of-the-art facilities, Signal House, the project “holds the promise of deep, continued economic impact,” the report concludes.
To access CEC’s economic impact assessments and Enterprise Cayman’s annual reports please visit https://www.enterprisecayman.ky/reports. For more information on how to get involved and for upcoming programmes and events visit www.enterprisecayman.ky. 
Website: www.caymanenterprisecity.com LinkedIn: @CaymanEnterpriseCityTwitter:  @CEC_CaymanInstagram: @CaymanEnterpriseCityFacebook: @CaymanEnterpriseCityYouTube: @ceccayman
About Cayman Enterprise City 
Cayman Enterprise City (CEC) is an award-winning development project which consists of three special economic zones (SEZs) focused on attracting knowledge-based and specialised-services businesses to set up a genuine physical presence in the Cayman Islands. The zones included within CEC are Cayman Tech City, Cayman Commodities & Derivatives Centre, and Cayman Maritime & Aviation City. With a dedicated Government Authority, licensing fee concessions and guaranteed fast-track processes, CEC enables international companies to quickly and efficiently establish a Cayman Islands office, which in turn enables them to generate active business income within a tax neutral environment.
About Enterprise Cayman 
Enterprise Cayman is a non-profit organisation (NPO) powered by Cayman Enterprise City in partnership with Cayman Islands’ special economic zone companies (SEZCos). The organisation, which applies the Theory of Change (TOC) methodology, provides Caymanians and residents with access to high-quality learning experiences and opportunities to develop and launch new business ventures, to pursue careers within the technology and innovation sectors, and to join a dynamic network of industry professionals. Let’s grow the next generation of Caymanian innovators and entrepreneurs with Enterprise Cayman!
Logo: https://mma.prnewswire.com/media/1317764/2860789/Cayman_Enterprise_City_Logo.jpg
FOR MORE INFORMATION:Contact: Kaitlyn Elphinstone  Email: [email protected]  

View original content:https://www.prnewswire.co.uk/news-releases/cayman-enterprise-city-publishes-socio-economic-impact-assessment-by-economist-and-leading-advisor-on-the-caribbean-marla-dukharan-302148206.html

Continue Reading

Trending