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The motor vehicle insurance market is forecasted to grow by USD 545.9 billion during 2023-2028, accelerating at a CAGR of 10.44% during the forecast period. The report on the motor vehicle insurance market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.Speak directly to the analyst to clarify any post sales queries you may have.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing government regulations on mandatory insurance coverage in developing countries, surge in automobile sales, and rising number of accidents.
The motor vehicle insurance market is segmented as below:
By Application
- Personal
- Commercial
By Distribution Channel
- Brokers
- Direct
- Banks
- Others
By Geographical Landscape
- North America
- APAC
- Europe
- South America
- Middle East and Africa
The report on the motor vehicle insurance market covers the following areas:
- Motor vehicle insurance market sizing
- Motor vehicle insurance market forecast
- Motor vehicle insurance market industry analysis
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.
Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
List of Exhibits
Executive Summary
The following companies are recognized as the key players in the global motor vehicle insurance market: Allianz SE, American International Group Inc., Aviva insurance Ltd., AXA Group, Berkshire Hathaway Inc., Chubb Ltd., Desjardins Group, Discovery Ltd., Kotak Mahindra Bank Ltd., Liberty Mutual Holding Co. Inc., Navi Technologies Ltd, OCTO Telematics S.p.A, Reliance Capital Ltd., Sompo Holdings Inc., State Farm Mutual Automobile Insurance Co., The Allstate Corp., THE HANOVER INSURANCE GROUP INC., The Progressive Corp., The Travelers Co. Inc., and Zurich Insurance Co. Ltd..Commenting on the report, an analyst from the research team said: "The latest trend gaining momentum in the market is digitalization of motor vehicle insurance industry."
According to the report, one of the major drivers for this market is the increasing government regulations on mandatory insurance coverage in developing countries.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Allianz SE
- American International Group Inc.
- Aviva insurance Ltd.
- AXA Group
- Berkshire Hathaway Inc.
- Chubb Ltd.
- Desjardins Group
- Discovery Ltd.
- Kotak Mahindra Bank Ltd.
- Liberty Mutual Holding Co. Inc.
- Navi Technologies Ltd
- OCTO Telematics S.p.A
- Reliance Capital Ltd.
- Sompo Holdings Inc.
- State Farm Mutual Automobile Insurance Co.
- The Allstate Corp.
- THE HANOVER INSURANCE GROUP INC.
- The Progressive Corp.
- The Travelers Co. Inc.
- Zurich Insurance Co. Ltd.
