Published: 30 Aug 2021 | Report Code: 10248105 | Pages: 86
North America motor insurance market is expected to grow by 4.2% annually in the forecast period and reach $357.6 million by 2027 owing to the mandatory requirement for vehicle insurance in various countries, the increased number of sales of new vehicles, the growing urbanization, and the rising disposable income among the middle income population. Highlighted with 21 tables and 34 figures, this 86-page report “North America Motor Insurance Market 2020-2027 by Policy Type (Liability, Comprehensive, Collision, Personal Injury), Premium Type (Personal, Commercial), Distribution Channel (Brokers & Agency, Financial Institutes, Direct Sales, Others), and Country: Trend Outlook and Growth Opportunity” is based on a comprehensive research of the entire North America motor insurance market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2017-2019 and provides estimate for 2020 and forecast from 2021 till 2027 with 2019 as the base year. (The year 2020 is not appropriate for research base due to the outbreak of COVID-19.) In-depth qualitative analyses include identification and investigation of the following aspects: • Market Structure • Growth Drivers • Restraints and Challenges • Emerging Product Trends & Market Opportunities • Porter’s Fiver Forces The trend and outlook of North America market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19. The balanced (most likely) projection is used to quantify North America motor insurance market in every aspect of the classification from perspectives of Policy Type, Premium Type, Distribution Channel, and Country. Based on Policy Type, the North America market is segmented into the following sub-markets with annual revenue ($ mn) for 2017-2027 included in each section. • Liability Insurance • Comprehensive Coverage • Collision Coverage • Personal Injury Protection Based on Premium Type, the North America 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 North America 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: • U.S. • Canada • Mexico For each key country, detailed analysis and data for annual revenue ($ mn) are available for 2017-2027. The breakdown of key national markets by Policy Type, Premium Type, and Distribution Channel over the forecast years is 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 5 1.1 Industry Definition and Research Scope 5 1.1.1 Industry Definition 5 1.1.2 Research Scope 6 1.2 Research Methodology 9 1.2.1 Overview of Market Research Methodology 9 1.2.2 Market Assumption 10 1.2.3 Secondary Data 10 1.2.4 Primary Data 10 1.2.5 Data Filtration and Model Design 11 1.2.6 Market Size/Share Estimation 12 1.2.7 Research Limitations 13 1.3 Executive Summary 14 2 Market Overview and Dynamics 16 2.1 Market Size and Forecast 16 2.1.1 Impact of COVID-19 on World Economy 17 2.1.2 Impact of COVID-19 on the Market 19 2.2 Major Growth Drivers 21 2.3 Market Restraints and Challenges 26 2.4 Emerging Opportunities and Market Trends 29 2.5 Porter’s Fiver Forces Analysis 33 3 Segmentation of North America Market by Policy Type 37 3.1 Market Overview by Policy Type 37 3.2 Liability Insurance 39 3.3 Comprehensive Coverage 40 3.4 Collision Coverage 41 3.5 Personal Injury Protection 42 4 Segmentation of North America Market by Premium Type 43 4.1 Market Overview by Premium Type 43 4.2 Personal Insurance Premiums 45 4.3 Commercial Insurance Premiums 46 5 Segmentation of North America Market by Distribution Channel 47 5.1 Market Overview by Distribution Channel 47 5.2 Brokers & Agency 49 5.3 Financial Institutes 50 5.4 Direct Sales 51 5.5 Other Distribution Channels 52 6 North America Market 2020-2027 by Country 53 6.1 Overview of North America Market 53 6.2 U.S. 56 6.3 Canada 59 6.4 Mexico 62 7 Competitive Landscape 64 7.1 Overview of Key Vendors 64 7.2 New Product Launch, Partnership, Investment, and M&A 67 7.3 Company Profiles 68 Allianz SE 68 Allstate Corporation 70 Assicurazioni Generali 71 Aviva Plc 72 Berkshire Hathaway Inc 73 Chubb Ltd. 74 GEICO 75 ICICI Lombard General Insurance Co., Ltd. 76 Liberty Mutual Insurance 77 Nationwide Mutual Insurance 78 People's Insurance Company of China Ltd. (PICC) 79 Ping An Insurance (Group) Co. of China Ltd. 80 Porto Seguro S.A 81 Samsung Fire and Marine Insurance Co., Ltd. 82 Sompo Holdings Inc 83 State Farm Mutual Automobile Insurance Company 84 Zurich Insurance Group AG 85 RELATED REPORTS 86
List of Tables: Table 1. Snapshot of North America Motor Insurance Market in Balanced Perspective, 2020-2027 15 Table 2. Growth Rate of World GDP, 2020-2022 18 Table 3. Main Product Trends and Market Opportunities in North America Motor Insurance Market 29 Table 4. North America Motor Insurance Market by Policy Type, 2017-2027, $ mn 37 Table 5. North America Motor Insurance Market by Premium Type, 2017-2027, $ mn 43 Table 6. North America Motor Insurance Market by Distribution Channel, 2017-2027, $ mn 47 Table 7. North America Motor Insurance Market by Country, 2017-2027, $ mn 54 Table 8. U.S. Motor Insurance Market by Policy Type, 2017-2027, $ mn 58 Table 9. U.S. Motor Insurance Market by Premium Type, 2017-2027, $ mn 58 Table 10. U.S. Motor Insurance Market by Distribution Channel, 2017-2027, $ mn 58 Table 11. Canada Motor Insurance Market by Policy Type, 2017-2027, $ mn 60 Table 12. Canada Motor Insurance Market by Premium Type, 2017-2027, $ mn 60 Table 13. Canada Motor Insurance Market by Distribution Channel, 2017-2027, $ mn 60 Table 14. Leading Private Property and Casualty Insurance Companies in Canada, 2018, by % of Revenue 61 Table 15. Mexico Motor Insurance Market by Policy Type, 2017-2027, $ mn 63 Table 16. Mexico Motor Insurance Market by Premium Type, 2017-2027, $ mn 63 Table 17. Mexico Motor Insurance Market by Distribution Channel, 2017-2027, $ mn 63 Table 18. Allianz SE: Company Snapshot 68 Table 19. Allianz SE: Business Segmentation 68 Table 20. Allianz SE: Product Portfolio 69 Table 21. Allianz SE: Revenue, 2018-2020, $ mn 69
List of Figures: Figure 1. Research Method Flow Chart 9 Figure 2. Bottom-up Approach and Top-down Approach for Market Estimation 12 Figure 3. North America Market Forecast in Optimistic, Conservative and Balanced Perspectives, 2020-2027 14 Figure 4. North America Motor Insurance Market, 2017-2027, $ mn 16 Figure 5. Impact of COVID-19 on Business 19 Figure 6. Primary Drivers and Impact Factors of North America Motor Insurance Market 21 Figure 7. World Vehicle Production by Car Type, 2019-2030, million units 24 Figure 8. Capital Invested in Insurance Tech Companies Worldwide, 2017-2020, $ billion 24 Figure 9. Forecast of Middle-class Population by Region, 2015-2030, million 25 Figure 10. Primary Restraints and Impact Factors of North America Motor Insurance Market 26 Figure 11. Investment Opportunity Analysis 30 Figure 12. Porter’s Fiver Forces Analysis of North America Motor Insurance Market 33 Figure 13. Breakdown of North America Motor Insurance Market by Policy Type, 2020-2027, % of Revenue 37 Figure 14. Contribution to North America 2021-2027 Cumulative Market by Policy Type, Value ($ mn) and Share (%) 38 Figure 15. North America Motor Insurance Market: Liability Insurance, 2017-2027, $ mn 39 Figure 16. North America Motor Insurance Market: Comprehensive Coverage, 2017-2027, $ mn 40 Figure 17. North America Motor Insurance Market: Collision Coverage, 2017-2027, $ mn 41 Figure 18. North America Motor Insurance Market: Personal Injury Protection, 2017-2027, $ mn 42 Figure 19. Breakdown of North America Motor Insurance Market by Premium Type, 2020-2027, % of Revenue 44 Figure 20. Contribution to North America 2021-2027 Cumulative Market by Premium Type, Value ($ mn) and Share (%) 44 Figure 21. North America Motor Insurance Market: Personal Insurance Premiums, 2017-2027, $ mn 45 Figure 22. North America Motor Insurance Market: Commercial Insurance Premiums, 2017-2027, $ mn 46 Figure 23. Breakdown of North America Motor Insurance Market by Distribution Channel, 2020-2027, % of Revenue 48 Figure 24. Contribution to North America 2021-2027 Cumulative Market by Distribution Channel, Value ($ mn) and Share (%) 48 Figure 25. North America Motor Insurance Market: Brokers & Agency, 2017-2027, $ mn 49 Figure 26. North America Motor Insurance Market: Financial Institutes, 2017-2027, $ mn 50 Figure 27. North America Motor Insurance Market: Direct Sales, 2017-2027, $ mn 51 Figure 28. North America Motor Insurance Market: Other Distribution Channels, 2017-2027, $ mn 52 Figure 29. Breakdown of North America Motor Insurance Market by Country, 2020 and 2027, % of Revenue 54 Figure 30. Contribution to North America 2021-2027 Cumulative Market by Country, Value ($ mn) and Share (%) 55 Figure 31. U.S. Motor Insurance Market, 2017-2027, $ mn 57 Figure 32. Canada Motor Insurance Market, 2017-2027, $ mn 59 Figure 33. Motor Insurance Market in Mexico, 2017-2027, $ mn 62 Figure 34. Growth Stage of North America Motor Insurance Industry over the Forecast Period 64
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.)