Global Motor Vehicle Insurance Market 2016-2020

  • ID: 3752448
  • Report
  • Region: Global
  • 55 pages
  • TechNavio
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FEATURED COMPANIES

  • AIG
  • Allianz
  • Allstate Insurance
  • AXA
  • Berkshire Hathaway
  • Munich Re
  • MORE
About the Motor Vehicle Insurance Market

Motor vehicle insurance policy is the guarantee of compensation provided to a policyholder, wherein the insurer will pay for the repair of accidental damages, theft, or fire (among others) to a third party's property or the insured vehicle.
At the end of 2014, the guaranteed asset protection (GAP) insurance was introduced. It is a supplementary cover taken along with the standard motor insurance policy. It includes certain types of losses that are not covered under the standard policy. For instance, if a person avails GAP insurance, then the insurer will pay the balance loan amount of the vehicle in case of theft or if the automobile is damaged badly. In September 2015, rules proposed by the Financial Conduct Authority (FCA) came into effect; these rules were designed to navigate issues arising from the sales of GAP insurance provided by the motor vehicle industry.

The analysts forecast the global motor vehicle insurance market to grow at a CAGR of 5.91% during the period 2016-2020.

Covered in this report
The report covers the present scenario and the growth prospects of the global motor vehicle insurance market for 2016-2020. To calculate the market size, the report considers two types of end users:
- Personal insurance premiums
- Commercial insurance premiums

The market is divided into the following segments based on geography:
- Americas
- APAC
- EMEA

The report, Global Motor Vehicle Insurance Market, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
- Allianz
- AIG
- Allstate Insurance
- Berkshire Hathaway
- People’s Insurance Company of China
- Ping An Insurance

Other prominent vendors
- AXA
- Munich Re
- Zurich

Market drivers
- Mandate to buy insurance
- For a full, detailed list, view the full report

Market challenges
- Fraudulent motor vehicle claims
- For a full, detailed list, view the full report

Market trends
- Implementation of advanced analytics tools to reduce fraudulent claims
- For a full, detailed list, view the full report

Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

You can request one free hour of our analyst’s time when you purchase this market report. Details are provided within the report.
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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • AIG
  • Allianz
  • Allstate Insurance
  • AXA
  • Berkshire Hathaway
  • Munich Re
  • MORE
PART 01: Executive summary
  • Highlights
PART 02: Scope of the report
  • Market overview
  • Top-vendor offerings
PART 03: Market research methodology
  • Research methodology
  • Economic indicators
PART 04: Introduction
  • Key market highlights
PART 05: Market landscape
  • Market overview
  • Market size and forecast
  • Five forces analysis
PART 06: Market segmentation by premium type
  • Global personal insurance premiums
  • Global commercial insurance premiums
PART 07: Geographical segmentation
  • Geographical segmentation
  • Americas
  • APAC
  • EMEA
PART 08: Key leading countries
  • Key leading countries in the Americas
  • Key leading countries in APAC
  • Key leading countries in EMEA
PART 09: Market drivers

PART 10: Impact of drivers

PART 11: Market challenges

PART 12: Impact of drivers and challenges

PART 13: Market trends

PART 14: Vendor landscape
  • Competitive landscape
  • Major company overview
  • Recent developments
  • Vendor matrix
  • Other prominent vendors
  • Key takeaways
PART 15: Appendix
  • List of abbreviations
PART 16: About the Author

List of Exhibits
Exhibit 01: Product offerings
Exhibit 02: FCA proposals
Exhibit 03: CMA investigation for private motor insurance
Exhibit 04: Motor vehicle insurance coverage
Exhibit 05: Types of policies
Exhibit 06: Global motor vehicle insurance market 2015-2020 ($ billions)
Exhibit 07: Five forces analysis
Exhibit 08: Product segmentation 2015
Exhibit 09: Personal insurance premium 2015-2020 ($ billions)
Exhibit 10: Commercial insurance premium 2015-2020 ($ billions)
Exhibit 11: Geographical segmentation 2015
Exhibit 12: Motor vehicle insurance market in the Americas 2015-2020 ($ billions)
Exhibit 13: Motor vehicle insurance market in APAC 2015-2020 ($ billions)
Exhibit 14: Geographical market shares in APAC 2015
Exhibit 15: Motor vehicle insurance market in EMEA 2015-2020 ($ billions)
Exhibit 16: Geographical market shares in EMEA 2015
Exhibit 17: Revenue contribution of key leading countries in the Americas 2015 ($ billions)
Exhibit 18: Revenue contribution of key leading countries in APAC in 2015 ($ billions)
Exhibit 19: Revenue contribution of key leading countries in EMEA in 2015 ($ billions)
Exhibit 20: lmpact of drivers
Exhibit 21: Challenges in vehicle safety equipment
Exhibit 22: Impact of drivers and challenges
Exhibit 23: Customer connectivity
Exhibit 24: Innovations in customer services
Exhibit 25: Product portfolio
Exhibit 26: Vendor matrix analysis 2015
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FEATURED COMPANIES

  • AIG
  • Allianz
  • Allstate Insurance
  • AXA
  • Berkshire Hathaway
  • Munich Re
  • MORE
New Report Released: – Global Motor Vehicle Insurance Market 2016-2020

The author of the report recognizes the following companies as the key players in the global motor vehicle insurance market: Allianz, AIG, Allstate Insurance, Berkshire Hathaway, People’s Insurance Company of China, and Ping An Insurance.

Other Prominent Vendors in the market are: AXA, Munich Re, and Zurich.

Commenting on the report, an analyst from the research team said: “A trend that is already impacting the market is the implementation of advanced analytics tools to reduce fraudulent claims. According to the National Insurance Crime Bureau (NICB), insurance fraud is the second biggest white-collar crime in the US after tax evasion. Advanced tools, such as big data analytics and geospatial analysis, are making it easier for insurance companies to reduce losses stemming from fraud claim. Technavio expects that top insurers will form partnerships with analytics services providers to speed up payment processes and improve customer satisfaction during the forecast period.”

According to the report, a key growth driver is the mandate to buy insurance policies. A motor vehicle insurance covers any financial risk that can crop up while driving the vehicle. In other words, an insurance company will cover losses arising from theft, damages, or accidents - if such incidents are covered under the policy. In India, the Motor Vehicles Act specifies that all vehicles should have an insurance policy, or a third-party liability cover. A third-party insurance policy will cover the financial losses incurred in case of an accident, and may or may not cover the losses arising from damages sustained by the owner's car.

Further, the report states that one challenge that could restrict market growth is the risk variables in the underwriting process.

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.
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- Allianz
- AIG
- Allstate Insurance
- Berkshire Hathaway
- People’s Insurance Company of China
- Ping An Insurance
- AXA
- Munich Re
- Zurich.
Note: Product cover images may vary from those shown
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