Setting

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

Published: 30 Aug 2021 | Report Code: 10248104 | Pages: 146

Global motor insurance market will reach $1,009.6 million by 2027, growing by 5.5% annually over 2020-2027 owing to the mandatory requirement for vehicle insurance in various countries, the increased number of sales of new vehicles, the growing urbanization, and the rising disposable income among the middle income population. Highlighted with 80 tables and 70 figures, this 146-page report “Global Motor Insurance Market 2020-2027 by Policy Type (Liability, Comprehensive, Collision, Personal Injury), Premium Type (Personal, Commercial), Distribution Channel (Brokers & Agency, Financial Institutes, Direct Sales, Others), and Region: Trend Outlook and Growth Opportunity” is based on a comprehensive research of the entire global motor insurance market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2017-2019 and provides estimate for 2020 and forecast from 2021 till 2027 with 2019 as the base year. (The year 2020 is not appropriate for research base due to the outbreak of COVID-19.) In-depth qualitative analyses include identification and investigation of the following aspects: • Market Structure • Growth Drivers • Restraints and Challenges • Emerging Product Trends & Market Opportunities • Porter’s Fiver Forces The trend and outlook of global market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19. The balanced (most likely) projection is used to quantify global motor insurance market in every aspect of the classification from perspectives of Policy Type, Premium Type, Distribution Channel, and Region. Based on Policy Type, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2017-2027 included in each section. • Liability Insurance • Comprehensive Coverage • Collision Coverage • Personal Injury Protection 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) 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
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.)