Major Group SIC 6399 - Insurance Carriers, Not Elsewhere Cla...

SIC 6399 - Insurance Carriers, Not Elsewhere Classified

SIC 63 - Insurance Carriers
SIC 01 - Agricultural Production Crops SIC 02 - Agricultural Production Livestock And Animal Specialties SIC 07 - Agricultural Services SIC 08 - Forestry SIC 09 - Fishing, Hunting, And Trapping SIC 10 - Metal Mining SIC 12 - Coal Mining SIC 13 - Oil And Gas Extraction SIC 14 - Mining And Quarrying Of Nonmetallic Minerals, Except Fuels SIC 15 - Building Construction General Contractors And Operative Builders SIC 16 - Heavy Construction Other Than Building Construction Contractors SIC 17 - Construction Special Trade Contractors SIC 20 - Food And Kindred Products SIC 21 - Tobacco Products SIC 22 - Textile Mill Products SIC 23 - Apparel And Other Finished Products Made From Fabrics And Similar Materials SIC 24 - Lumber And Wood Products, Except Furniture SIC 25 - Furniture And Fixtures SIC 26 - Paper And Allied Products SIC 27 - Printing, Publishing, And Allied Industries SIC 28 - Chemicals And Allied Products SIC 29 - Petroleum Refining And Related Industries SIC 30 - Rubber And Miscellaneous Plastics Products SIC 31 - Leather And Leather Products SIC 32 - Stone, Clay, Glass, And Concrete Products SIC 33 - Primary Metal Industries SIC 34 - Fabricated Metal Products, Except Machinery And Transportation Equipment SIC 35 - Industrial And Commercial Machinery And Computer Equipment SIC 36 - Electronic And Other Electrical Equipment And Components, Except Computer Equipment SIC 37 - Transportation Equipment SIC 38 - Measuring, Analyzing, And Controlling Instruments Photographic, Medical And Optical Good SIC 39 - Miscellaneous Manufacturing Industries SIC 40 - Railroad Transportation SIC 41 - Local And Suburban Transit And Interurban Highway Passenger Transportation SIC 42 - Motor Freight Transportation And Warehousing SIC 44 - Water Transportation SIC 45 - Transportation By Air SIC 46 - Pipelines, Except Natural Gas SIC 47 - Transportation Services SIC 48 - Communications SIC 49 - Electric, Gas, And Sanitary Services SIC 50 - Wholesale Trade-durable Goods SIC 51 - Wholesale Trade-non-durable Goods SIC 52 - Building Materials, Hardware, Garden Supply, And Mobile Home Dealers SIC 53 - General Merchandise Stores SIC 54 - Food Stores SIC 55 - Automotive Dealers And Gasoline Service Stations SIC 56 - Apparel And Accessory Stores SIC 57 - Home Furniture, Furnishings, And Equipment Stores SIC 58 - Eating And Drinking Places SIC 59 - Miscellaneous Retail SIC 60 - Depository Institutions SIC 61 - Non-depository Credit Institutions SIC 62 - Security And Commodity Brokers, Dealers, Exchanges, And Services SIC 63 - Insurance Carriers SIC 64 - Insurance Agents, Brokers, And Service SIC 65 - Real Estate SIC 67 - Holding And Other Investment Offices SIC 70 - Hotels, Rooming Houses, Camps, And Other Lodging Places SIC 72 - Personal Services SIC 73 - Business Services SIC 75 - Automotive Repair, Services, And Parking SIC 76 - Miscellaneous Repair Services SIC 78 - Motion Pictures SIC 79 - Amusement And Recreation Services SIC 80 - Health Services SIC 81 - Legal Services SIC 82 - Educational Services SIC 83 - Social Services SIC 84 - Museums, Art Galleries, And Botanical And Zoological Gardens SIC 86 - Membership Organizations or Unions And Similar Labor Organizations SIC 87 - Engineering, Accounting, Research, Management, And Related Services SIC 89 - Services, Not Elsewhere Classified SIC 96 - Administration Of Economic Programs
- SIC 639 - Insurance Carriers, Not Elsewhere Classified
  SIC 632 - Accident And Health Insurance And Medical SIC 633 - Life Insurance SIC 637 - Pension, Health, And Welfare Funds SIC 631 - Life Insurance SIC 635 - Surety Insurance SIC 636 - Title Insurance SIC 639 - Insurance Carriers, Not Elsewhere Classified
  - SIC 6399 - Insurance Carriers, Not Elsewhere Classified
    SIC 6399 - Insurance Carriers, Not Elsewhere Classified

Establishments primarily engaged in underwriting insurance, not elsewhere classified, such as insuring bank deposits and shares in savings and loan associations.

Industry trends:

In the sector of NAICS 6399, Insurance Carriers, Not Elsewhere Classified, several qualitative trends are shaping the industry landscape. One notable trend is the acceleration of digital transformation, spurred by the COVID-19 pandemic, which has driven firms to adopt more robust digital platforms for client interaction and policy management. These advancements are being complemented by investments in artificial intelligence and machine learning algorithms to enhance underwriting processes and claims management, improving both accuracy and efficiency.

Additionally, there is a growing emphasis on personalized services and products. Insurtech startups are pioneering this trend, using big data analytics to offer highly tailored insurance solutions. Traditional carriers are following suit, seeking to retain competitiveness by providing more individualized customer experiences and customizable policy options.

Climate change is another critical factor influencing the industry. With an increase in natural disasters, carriers are recalibrating their risk assessment models and expanding coverage options to address climate-related risks. This proactive approach is expected to become more pronounced as climate risks continue to rise.

Looking ahead, the industry is predicted to evolve with a greater focus on sustainability and corporate social responsibility. Consumers and stakeholders are increasingly valuing ESG (Environmental, Social, and Governance) principles, prompting insurers to integrate these elements into their business models and investment strategies. This trend is likely to gain momentum, driven by regulatory pressures and shifting market expectations.

The near future also points to continuous consolidation within the industry. Mergers and acquisitions are expected to rise as firms strive for scale and diversification to mitigate risks and drive growth. This trend will likely result in a more concentrated market with a few dominant players.

This industry is comprised of:

Bank deposit insurance

Deposit or share insurance

Federal Deposit Insurance Corporation

Federal Savings and Loan Insurance Corporation

Health insurance for pets

Warranty insurance, automobile

Explore related industries:

SIC 6099 - Functions Related to Depository Banking, Not Elsewhere Classified SIC 6289 - Services Allied With the Exchange Of Securities or Commodities SIC 6799 - Investors, Not Elsewhere Classified

Buy the detailed report

This report includes the ability to segment your Industry by:

Region
Employees
Net Sales

Company Age
Total Assets
Ownership Type

Download sample reports

With iCFO You Get

What Is iCFO?

A review and comparison of financial performance of privately-help companies in specified SIC/NAICS industry segment, using industry standard benchmarks.

Sound Business Analysis

Answers come easily with iCFO. Review ROI, sales per employee, profit margins of the top 10%, top 25% and more, to identify areas of concern and opportunity. Examine what if scenarios and P&L impact of reducing costs or adding revenue.

Your Business’ Health In Minutes

It takes only five minutes to enter your data and produce a concise profile of your company’s fiscal state, including critical business ratios focusing on liquidity, profitability, asset efficiency, and growth.