The global demand for Motor Insurance Market is presumed to reach the valuation of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% during the period of 2022-2028.
Auto insurance, otherwise called motor insurance, is insurance that provides cover to misfortune or harm to any vehicle like car, bike, trucks, and other road vehicles, and so forth. The protection mitigates fiscal damages because of accidents harming and damaging vehicles. The amounts that are payable by the individual making sure about protection for his vehicle rely upon different elements like insured declared value, age of the insured, vehicle, age of the vehicle, fuel type, and so on.
The global auto insurance market is gaining popularity worldwide due to increased automobile sales globally and government mandatory regulation. The rising incidences of road accident due to the rise in road traffic is one reason for market growth. Governments over the world make it obligatory to purchase insurance policy while buying a new vehicle. This move has gone about as an impetus in the expanded deal in the auto insurance market. Innovative and lucrative product launches are relied upon to help market growth. Players offer different extra covers, and it is estimated to affect protection deals emphatically.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of motor insurance.
The entire motor insurance market has been sub-categorized into policy type, premium type and distribution channel. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
By Policy Type
By Premium Type
- Third-Party Liability
- Third-Party Fire and Theft
By Distribution Channel
- Personal Insurance Premium
- Commercial Insurance Premium
- Insurance Broker/Agency
This section covers regional segmentation which accentuates on current and future demand for motor insurance market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Motor Insurance Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the motor insurance market include Allianz SE, PICC Property and Casualty Co Ltd., Ping An Insurance (Group) Co of China Ltd., ICICI Lombard General Insurance Co Ltd., Sompo Holdings Inc., Samsung Fire and Marine Insurance Co Ltd., Aviva Plc, State Farm Mutual Automobile Insurance Company, GEICO, Porto Seguro S.A. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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