As the global insurance landscape evolves, a striking disparity in per capita spending between Americans and Asians has come to light. According to AltIndex.com data, by 2028, the average American is projected to spend approximately $15,000 annually on insurance—about 30 times more than the average individual in Asia.
This significant gap is largely attributed to the structure of the U.S. insurance market, which is heavily influenced by private health insurance. This model substantially increases per capita expenditure compared to many Asian nations, where government involvement and lower private insurance reliance result in more modest spending.
Despite major markets like China and Japan playing key roles in global insurance premiums, their per capita expenditure remains comparatively low. This reflects the different healthcare and insurance frameworks across these regions, where extensive government participation or a lower emphasis on private insurance helps to keep costs down.
With the U.S. insurance market expected to continue expanding due to its wealth and insurance-dependent healthcare system, the gap between American and Asian insurance spending is anticipated to grow further. By 2028, the disparity in per capita insurance spending between these regions will remain stark, highlighting the divergent ways in which insurance is integrated into the financial systems of the U.S. and Asia.