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Global Motor Insurance Market 2020-2027
Global Motor Insurance Market 2020-2027

2021

Global Motor Insurance Market 2020-2027

Global motor insurance market will reach $1,009.6 million by 2027, growing by 5.5% annually over 2020-2027 owing to the mandatory requirement for vehicle insurance in various count

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Global motor insurance market will reach $1,009.6 million by 2027, growing by 5.5% annually over 2020-2027 owing to the mandatory requirement for vehicle insurance in various countries, the increased number of sales of new vehicles, the growing urbanization, and the rising disposable income among the middle income population.

Highlighted with 80 tables and 70 figures, this 146-page report “Global Motor Insurance Market 2020-2027 by Policy Type (Liability, Comprehensive, Collision, Personal Injury), Premium Type (Personal, Commercial), Distribution Channel (Brokers & Agency, Financial Institutes, Direct Sales, Others), and Region: Trend Outlook and Growth Opportunity” is based on a comprehensive research of the entire global motor insurance market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2017-2019 and provides estimate for 2020 and forecast from 2021 till 2027 with 2019 as the base year. (The year 2020 is not appropriate for research base due to the outbreak of COVID-19.)

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In-depth qualitative analyses include identification and investigation of the following aspects:
• Market Structure
• Growth Drivers
• Restraints and Challenges
• Emerging Product Trends & Market Opportunities
• Porter’s Fiver Forces

The trend and outlook of global market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19. The balanced (most likely) projection is used to quantify global motor insurance market in every aspect of the classification from perspectives of Policy Type, Premium Type, Distribution Channel, and Region.

Based on Policy Type, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2017-2027 included in each section.
• Liability Insurance
• Comprehensive Coverage
• Collision Coverage
• Personal Injury Protection

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Manmayi Raval

Manmayi Raval

Research Consultant



Based on Premium Type, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2017-2027 included in each section.
• Personal Insurance Premiums
• Commercial Insurance Premiums

Based on Distribution Channel, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2017-2027 included in each section.
• Brokers & Agency
• Financial Institutes
• Direct Sales
• Other Distribution Channels

Geographically, the following regions together with the listed national/local markets are fully investigated:
• North America (U.S., Canada, and Mexico)
• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Netherlands, Switzerland, Poland, Sweden, Belgium, Austria, Ireland, Norway, Denmark, and Finland)
• APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)
• South America (Brazil, Colombia, Argentina, Rest of South America)
• MEA (Egypt, Saudi Arabia, South Africa)

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Manmayi Raval


For each aforementioned region and country, detailed analysis and data for annual revenue ($ mn) are available for 2017-2027. The breakdown of all regional markets by country and split of key national markets by Policy Type, Premium Type, and Distribution Channel over the forecast years are also included.

The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.

Key Players (this may not be a complete list and extra companies can be added upon request):
Allianz SE
Allstate Corporation
Assicurazioni Generali
Aviva Plc
Berkshire Hathaway Inc
Chubb Ltd.
GEICO
ICICI Lombard General Insurance Co., Ltd.
Liberty Mutual Insurance
Nationwide Mutual Insurance
People's Insurance Company of China Ltd. (PICC)
Ping An Insurance (Group) Co. of China Ltd.
Porto Seguro S.A
Samsung Fire and Marine Insurance Co., Ltd.
Sompo Holdings Inc
State Farm Mutual Automobile Insurance Company
Zurich Insurance Group AG
(Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)

Table of Contents

  • 1 Introduction 8
  • 1.1 Industry Definition and Research Scope 8
  • 1.1.1 Industry Definition 8
  • 1.1.2 Research Scope 9
  • 1.2 Research Methodology 12
  • 1.2.1 Overview of Market Research Methodology 12
  • 1.2.2 Market Assumption 13
  • 1.2.3 Secondary Data 13
  • 1.2.4 Primary Data 13
  • 1.2.5 Data Filtration and Model Design 14
  • 1.2.6 Market Size/Share Estimation 15
  • 1.2.7 Research Limitations 16
  • 1.3 Executive Summary 17
  • 2 Market Overview and Dynamics 19
  • 2.1 Market Size and Forecast 19
  • 2.1.1 Impact of COVID-19 on World Economy 20
  • 2.1.2 Impact of COVID-19 on the Market 22
  • 2.2 Major Growth Drivers 24
  • 2.3 Market Restraints and Challenges 29
  • 2.4 Emerging Opportunities and Market Trends 32
  • 2.5 Porter’s Fiver Forces Analysis 36
  • 3 Segmentation of Global Market by Policy Type 40
  • 3.1 Market Overview by Policy Type 40
  • 3.2 Liability Insurance 42
  • 3.3 Comprehensive Coverage 43
  • 3.4 Collision Coverage 44
  • 3.5 Personal Injury Protection 45
  • 4 Segmentation of Global Market by Premium Type 46
  • 4.1 Market Overview by Premium Type 46
  • 4.2 Personal Insurance Premiums 48
  • 4.3 Commercial Insurance Premiums 49
  • 5 Segmentation of Global Market by Distribution Channel 50
  • 5.1 Market Overview by Distribution Channel 50
  • 5.2 Brokers & Agency 52
  • 5.3 Financial Institutes 53
  • 5.4 Direct Sales 54
  • 5.5 Other Distribution Channels 55
  • 6 Segmentation of Global Market by Region 56
  • 6.1 Geographic Market Overview 2020-2027 56
  • 6.2 North America Market 2020-2027 by Country 60
  • 6.2.1 Overview of North America Market 60
  • 6.2.2 U.S. 63
  • 6.2.3 Canada 66
  • 6.2.4 Mexico 69
  • 6.3 European Market 2020-2027 by Country 71
  • 6.3.1 Overview of European Market 71
  • 6.3.2 UK 74
  • 6.3.3 France 76
  • 6.3.4 Germany 78
  • 6.3.5 Spain 80
  • 6.3.6 Italy 82
  • 6.3.7 Russia 84
  • 6.3.8 Rest of European Market 86
  • 6.4 Asia-Pacific Market 2020-2027 by Country 88
  • 6.4.1 Overview of Asia-Pacific Market 88
  • 6.4.2 China 91
  • 6.4.3 Japan 93
  • 6.4.4 India 96
  • 6.4.5 Australia 98
  • 6.4.6 South Korea 100
  • 6.4.7 Rest of APAC Region 102
  • 6.5 South America Market 2020-2027 by Country 104
  • 6.5.1 Argentina 107
  • 6.5.2 Brazil 109
  • 6.5.3 Colombia 111
  • 6.5.4 Rest of South America Market 113
  • 6.6 MEA Market 2020-2027 by Country 114
  • 6.6.1 Egypt 117
  • 6.6.2 Saudi Arabia 119
  • 6.6.3 South Africa 121
  • 6.6.4 Other National Markets 123
  • 7 Competitive Landscape 124
  • 7.1 Overview of Key Vendors 124
  • 7.2 New Product Launch, Partnership, Investment, and M&A 127
  • 7.3 Company Profiles 128
  • Allianz SE 128
  • Allstate Corporation 130
  • Assicurazioni Generali 131
  • Aviva Plc 132
  • Berkshire Hathaway Inc 133
  • Chubb Ltd. 134
  • GEICO 135
  • ICICI Lombard General Insurance Co., Ltd. 136
  • Liberty Mutual Insurance 137
  • Nationwide Mutual Insurance 138
  • People's Insurance Company of China Ltd. (PICC) 139
  • Ping An Insurance (Group) Co. of China Ltd. 140
  • Porto Seguro S.A 141
  • Samsung Fire and Marine Insurance Co., Ltd. 142
  • Sompo Holdings Inc 143
  • State Farm Mutual Automobile Insurance Company 144
  • Zurich Insurance Group AG 145
  • RELATED REPORTS 146

List of Tables:

Table 1. Snapshot of Global Motor Insurance Market in Balanced Perspective, 2020-2027 18
Table 2. Growth Rate of World GDP, 2020-2022 21
Table 3. Main Product Trends and Market Opportunities in Global Motor Insurance Market 32
Table 4. Global Motor Insurance Market by Policy Type, 2017-2027, $ mn 40
Table 5. Global Motor Insurance Market by Premium Type, 2017-2027, $ mn 46
Table 6. Global Motor Insurance Market by Distribution Channel, 2017-2027, $ mn 50
Table 7. Global Motor Insurance Market by Region, 2017-2027, $ mn 57
Table 8. Leading National Motor Insurance Market, 2020 and 2027, $ mn 59
Table 9. North America Motor Insurance Market by Country, 2017-2027, $ mn 62
Table 10. U.S. Motor Insurance Market by Policy Type, 2017-2027, $ mn 65
Table 11. U.S. Motor Insurance Market by Premium Type, 2017-2027, $ mn 65
Table 12. U.S. Motor Insurance Market by Distribution Channel, 2017-2027, $ mn 65
Table 13. Canada Motor Insurance Market by Policy Type, 2017-2027, $ mn 67
Table 14. Canada Motor Insurance Market by Premium Type, 2017-2027, $ mn 67
Table 15. Canada Motor Insurance Market by Distribution Channel, 2017-2027, $ mn 67
Table 16. Leading Private Property and Casualty Insurance Companies in Canada, 2018, by % of Revenue 68
Table 17. Mexico Motor Insurance Market by Policy Type, 2017-2027, $ mn 70
Table 18. Mexico Motor Insurance Market by Premium Type, 2017-2027, $ mn 70
Table 19. Mexico Motor Insurance Market by Distribution Channel, 2017-2027, $ mn 70
Table 20. Europe Motor Insurance Market by Country, 2017-2027, $ mn 73
Table 21. UK Motor Insurance Market by Policy Type, 2017-2027, $ mn 75
Table 22. UK Motor Insurance Market by Premium Type, 2017-2027, $ mn 75
Table 23. UK Motor Insurance Market by Distribution Channel, 2017-2027, $ mn 75
Table 24. France Motor Insurance Market by Policy Type, 2017-2027, $ mn 77
Table 25. France Motor Insurance Market by Premium Type, 2017-2027, $ mn 77
Table 26. France Motor Insurance Market by Distribution Channel, 2017-2027, $ mn 77
Table 27. Germany Motor Insurance Market by Policy Type, 2017-2027, $ mn 79
Table 28. Germany Motor Insurance Market by Premium Type, 2017-2027, $ mn 79
Table 29. Germany Motor Insurance Market by Distribution Channel, 2017-2027, $ mn 79
Table 30. Spain Motor Insurance Market by Policy Type, 2017-2027, $ mn 81
Table 31. Spain Motor Insurance Market by Premium Type, 2017-2027, $ mn 81
Table 32. Spain Motor Insurance Market by Distribution Channel, 2017-2027, $ mn 81
Table 33. Italy Motor Insurance Market by Policy Type, 2017-2027, $ mn 83
Table 34. Italy Motor Insurance Market by Premium Type, 2017-2027, $ mn 83
Table 35. Italy Motor Insurance Market by Distribution Channel, 2017-2027, $ mn 83
Table 36. Russia Motor Insurance Market by Policy Type, 2017-2027, $ mn 85
Table 37. Russia Motor Insurance Market by Premium Type, 2017-2027, $ mn 85
Table 38. Russia Motor Insurance Market by Distribution Channel, 2017-2027, $ mn 85
Table 39. Motor Insurance Market in Rest of Europe by Country, 2017-2027, $ mn 87
Table 40. APAC Motor Insurance Market by Country, 2017-2027, $ mn 90
Table 41. China Motor Insurance Market by Policy Type, 2017-2027, $ mn 92
Table 42. China Motor Insurance Market by Premium Type, 2017-2027, $ mn 92
Table 43. China Motor Insurance Market by Distribution Channel, 2017-2027, $ mn 92
Table 44. Japan Motor Insurance Market by Policy Type, 2017-2027, $ mn 95
Table 45. Japan Motor Insurance Market by Premium Type, 2017-2027, $ mn 95
Table 46. Japan Motor Insurance Market by Distribution Channel, 2017-2027, $ mn 95
Table 47. India Motor Insurance Market by Policy Type, 2017-2027, $ mn 97
Table 48. India Motor Insurance Market by Premium Type, 2017-2027, $ mn 97
Table 49. India Motor Insurance Market by Distribution Channel, 2017-2027, $ mn 97
Table 50. Australia Motor Insurance Market by Policy Type, 2017-2027, $ mn 99
Table 51. Australia Motor Insurance Market by Premium Type, 2017-2027, $ mn 99
Table 52. Australia Motor Insurance Market by Distribution Channel, 2017-2027, $ mn 99
Table 53. South Korea Motor Insurance Market by Policy Type, 2017-2027, $ mn 101
Table 54. South Korea Motor Insurance Market by Premium Type, 2017-2027, $ mn 101
Table 55. South Korea Motor Insurance Market by Distribution Channel, 2017-2027, $ mn 101
Table 56. Motor Insurance Market in Rest of APAC by Country/Region, 2017-2027, $ mn 103
Table 57. South America Motor Insurance Market by Country, 2017-2027, $ mn 106
Table 58. Argentina Motor Insurance Market by Policy Type, 2017-2027, $ mn 108
Table 59. Argentina Motor Insurance Market by Premium Type, 2017-2027, $ mn 108
Table 60. Argentina Motor Insurance Market by Distribution Channel, 2017-2027, $ mn 108
Table 61. Brazil Motor Insurance Market by Policy Type, 2017-2027, $ mn 110
Table 62. Brazil Motor Insurance Market by Premium Type, 2017-2027, $ mn 110
Table 63. Brazil Motor Insurance Market by Distribution Channel, 2017-2027, $ mn 110
Table 64. Colombia Motor Insurance Market by Policy Type, 2017-2027, $ mn 112
Table 65. Colombia Motor Insurance Market by Premium Type, 2017-2027, $ mn 112
Table 66. Colombia Motor Insurance Market by Distribution Channel, 2017-2027, $ mn 112
Table 67. MEA Motor Insurance Market by Country, 2017-2027, $ mn 116
Table 68. Egypt Motor Insurance Market by Policy Type, 2017-2027, $ mn 118
Table 69. Egypt Motor Insurance Market by Premium Type, 2017-2027, $ mn 118
Table 70. Egypt Motor Insurance Market by Distribution Channel, 2017-2027, $ mn 118
Table 71. Saudi Arabia Motor Insurance Market by Policy Type, 2017-2027, $ mn 120
Table 72. Saudi Arabia Motor Insurance Market by Premium Type, 2017-2027, $ mn 120
Table 73. Saudi Arabia Motor Insurance Market by Distribution Channel, 2017-2027, $ mn 120
Table 74. South Africa Motor Insurance Market by Policy Type, 2017-2027, $ mn 122
Table 75. South Africa Motor Insurance Market by Premium Type, 2017-2027, $ mn 122
Table 76. South Africa Motor Insurance Market by Distribution Channel, 2017-2027, $ mn 122
Table 77. Allianz SE: Company Snapshot 128
Table 78. Allianz SE: Business Segmentation 128
Table 79. Allianz SE: Product Portfolio 129
Table 80. Allianz SE: Revenue, 2018-2020, $ mn 129

List of Figures:

Figure 1. Research Method Flow Chart 12
Figure 2. Bottom-up Approach and Top-down Approach for Market Estimation 15
Figure 3. Global Market Forecast in Optimistic, Conservative and Balanced Perspectives, 2020-2027 17
Figure 4. Global Motor Insurance Market, 2017-2027, $ mn 19
Figure 5. Impact of COVID-19 on Business 22
Figure 6. Primary Drivers and Impact Factors of Global Motor Insurance Market 24
Figure 7. World Vehicle Production by Car Type, 2019-2030, million units 27
Figure 8. Capital Invested in Insurance Tech Companies Worldwide, 2017-2020, $ billion 27
Figure 9. Forecast of Middle-class Population by Region, 2015-2030, million 28
Figure 10. Primary Restraints and Impact Factors of Global Motor Insurance Market 29
Figure 11. Investment Opportunity Analysis 33
Figure 12. Porter’s Fiver Forces Analysis of Global Motor Insurance Market 36
Figure 13. Breakdown of Global Motor Insurance Market by Policy Type, 2020-2027, % of Revenue 40
Figure 14. Contribution to Global 2021-2027 Cumulative Market by Policy Type, Value ($ mn) and Share (%) 41
Figure 15. Global Motor Insurance Market: Liability Insurance, 2017-2027, $ mn 42
Figure 16. Global Motor Insurance Market: Comprehensive Coverage, 2017-2027, $ mn 43
Figure 17. Global Motor Insurance Market: Collision Coverage, 2017-2027, $ mn 44
Figure 18. Global Motor Insurance Market: Personal Injury Protection, 2017-2027, $ mn 45
Figure 19. Breakdown of Global Motor Insurance Market by Premium Type, 2020-2027, % of Revenue 47
Figure 20. Contribution to Global 2021-2027 Cumulative Market by Premium Type, Value ($ mn) and Share (%) 47
Figure 21. Global Motor Insurance Market: Personal Insurance Premiums, 2017-2027, $ mn 48
Figure 22. Global Motor Insurance Market: Commercial Insurance Premiums, 2017-2027, $ mn 49
Figure 23. Breakdown of Global Motor Insurance Market by Distribution Channel, 2020-2027, % of Revenue 51
Figure 24. Contribution to Global 2021-2027 Cumulative Market by Distribution Channel, Value ($ mn) and Share (%) 51
Figure 25. Global Motor Insurance Market: Brokers & Agency, 2017-2027, $ mn 52
Figure 26. Global Motor Insurance Market: Financial Institutes, 2017-2027, $ mn 53
Figure 27. Global Motor Insurance Market: Direct Sales, 2017-2027, $ mn 54
Figure 28. Global Motor Insurance Market: Other Distribution Channels, 2017-2027, $ mn 55
Figure 29. Global Market Snapshot by Region 56
Figure 30. Geographic Spread of Worldwide Motor Insurance Market, 2020-2027, % of Revenue 57
Figure 31. Contribution to Global 2021-2027 Cumulative Market by Region, Value ($ mn) and Share (%) 58
Figure 32. North American Motor Insurance Market, 2017-2027, $ mn 61
Figure 33. Breakdown of North America Motor Insurance Market by Country, 2020 and 2027, % of Revenue 61
Figure 34. Contribution to North America 2021-2027 Cumulative Market by Country, Value ($ mn) and Share (%) 62
Figure 35. U.S. Motor Insurance Market, 2017-2027, $ mn 64
Figure 36. Canada Motor Insurance Market, 2017-2027, $ mn 66
Figure 37. Motor Insurance Market in Mexico, 2017-2027, $ mn 69
Figure 38. European Motor Insurance Market, 2017-2027, $ mn 72
Figure 39. Breakdown of European Motor Insurance Market by Country, 2020 and 2027, % of Revenue 72
Figure 40. Contribution to Europe 2021-2027 Cumulative Market by Country, Value ($ mn) and Share (%) 73
Figure 41. Motor Insurance Market in UK, 2017-2027, $ mn 74
Figure 42. Motor Insurance Market in France, 2017-2027, $ mn 76
Figure 43. Motor Insurance Market in Germany, 2017-2027, $ mn 78
Figure 44. Motor Insurance Market in Spain, 2017-2027, $ mn 80
Figure 45. Motor Insurance Market in Italy, 2017-2027, $ mn 82
Figure 46. Motor Insurance Market in Russia, 2017-2027, $ mn 84
Figure 47. Motor Insurance Market in Rest of Europe, 2017-2027, $ mn 86
Figure 48. Asia-Pacific Motor Insurance Market, 2017-2027, $ mn 89
Figure 49. Breakdown of APAC Motor Insurance Market by Country, 2020 and 2027, % of Revenue 89
Figure 50. Contribution to APAC 2021-2027 Cumulative Market by Country, Value ($ mn) and Share (%) 90
Figure 51. Motor Insurance Market in China, 2017-2027, $ mn 91
Figure 52. Motor Insurance Market in Japan, 2017-2027, $ mn 94
Figure 53. Motor Insurance Market in India, 2017-2027, $ mn 96
Figure 54. Motor Insurance Market in Australia, 2017-2027, $ mn 98
Figure 55. Motor Insurance Market in South Korea, 2017-2027, $ mn 100
Figure 56. Motor Insurance Market in Rest of APAC, 2017-2027, $ mn 102
Figure 57. South America Motor Insurance Market, 2017-2027, $ mn 105
Figure 58. Breakdown of South America Motor Insurance Market by Country, 2020 and 2027, % of Revenue 105
Figure 59. Contribution to South America 2021-2027 Cumulative Market by Country, Value ($ mn) and Share (%) 106
Figure 60. Motor Insurance Market in Argentina, 2017-2027, $ mn 107
Figure 61. Motor Insurance Market in Brazil, 2017-2027, $ mn 109
Figure 62. Motor Insurance Market in Colombia, 2017-2027, $ mn 111
Figure 63. Motor Insurance Market in Rest of South America, 2017-2027, $ mn 113
Figure 64. Motor Insurance Market in Middle East and Africa (MEA), 2017-2027, $ mn 115
Figure 65. Breakdown of MEA Motor Insurance Market by Country, 2020 and 2027, % of Revenue 115
Figure 66. Contribution to MEA 2021-2027 Cumulative Market by Country, Value ($ mn) and Share (%) 116
Figure 67. Motor Insurance Market in Egypt, 2017-2027, $ mn 117
Figure 68. Motor Insurance Market in Saudi Arabia, 2017-2027, $ mn 119
Figure 69. Motor Insurance Market in South Africa, 2017-2027, $ mn 121
Figure 70. Growth Stage of Global Motor Insurance Industry over the Forecast Period 124

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