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Auto Insurance Market: Global Market Synopsis, Growth Factors, Industry Segmentation, Regional Analysis And Competitive Analysis 2017 - 2025

ID: 240328 21st May, 2018 Region : Global Pages Reports Monitor

Market Scenario:

Auto insurance is policy to insure cars, trucks, motorcycles, and other road vehicles. Its primary use is to provide financial protection against collision coverage, comprehensive coverage, uninsured/underinsured motorist coverage, medical payments, and personal injury protection.


The auto insurance market is gaining worldwide popularity with increase in awareness among people. Increase in the automobile sales globally due to increase in the per capita income of the consumers majorly drives the market growth. The governments around the world have made it mandatory to buy insurance policy while buying a new vehicle and this move has acted as a stimulant in the increased sale in the auto insurance market. Innovative and lucrative product launches are expected to boost the market growth. The leading insurance players offer various add-on covers and it is expected to positively impact insurance sales. The increased incidences of road accidents due to rise in road traffic is among the major reasons for market growth. However, market fragmentation (availability of many plans offered by different companies) and rise in on-demand car services and the adoption of auto rider vehicles also reduces the need for auto insurance related to third party, which is a major restraint for the auto insurance market.


A trend that is 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.


Segmentation:

The global auto insurance market is segmented on the basis of premium type, distribution channel, and geography. By premium type, it is diversified into personal insurance premium and commercial insurance premium. By distribution channel, it is classified into insurance broker/agency and online. 


Regional analysis:

The global Auto Insurance market is studied across: North America, Europe, Asia Pacific and LMAEA (Latin America, Middle East and Africa). The America is emerged as the largest contributor for the insurance market during 2015, and it is expected to grow moderately during the forecast period. However, the APAC region holds immense potential for the growth of vehicle insurance providers during the same period. Many insurers are trying to create a profitable operating model through their ability to offer the right strategies and operations at the right time to their customers.


Key players:

Allianz, USAA Property & Casualty, Amica Insurance, New Jersey Manufacturers Insurance Company, Erie Insurance Group, Auto Club Enterprises Insurance Group, Auto Club Insurance Association, Auto-Owners Insurance Group of Companies.

Research Scope

The study for Global Auto Insurance Market will provide market size, estimates and forecast based on the following years: 

 

Historic data: 2016  Base Year Estimate: 2017  Forecast: 2018 to 2025


The report has been categorized in two distinctive sections, where the first category titled as Market Overview provides a holistic view of the market, key trends, drivers, challenges/restraints or opportunities with their current and expected impact on the overall industry sales. 

Our analyst implement several qualitative tools such as Ansoff’s Matrix, PESTEL analysis, Porter’s five force analysis among other to interpret and represent key industry findings. 

The second section of the study provides market size, estimates and forecast for key market segments and regional market. The final part of the report highlights key manufacturers/vendors operating in the associated market. 


1. Introduction

1.1. Market Definition

1.2. Market Scope


2. Research Methodology

2.1. Primary Research

2.2. Secondary Sources

2.3. Assumptions & Exclusions


3. Market Overview

3.1. Research Report Segmentation & Scope

3.2. Key Market Trend Analysis

3.2.1. Market Drivers

3.2.2. Market Restraint/Challenges

3.2.3. Market Opportunities

3.3. Porter’s Five Forces Analysis

3.4. Potential Venture Avenues

3.5. Market Share Analysis, 2017 


4. Premium type

4.1. Introduction

4.2. Market Size & Forecast, 2018 to 2025

4.2.1. personal insurance premium

4.2.2. commercial insurance premium

(Note: The segments mentioned above are tentative in nature and are subject to change as the research progresses)


5. Distribution Channel 

    5.1 Introduction

    5.2 Market Size & forecast, 2018 to 2025

       5.2.1 Insurance broker/agency

       5.2.2 Online

       (Note: The segments mentioned above are tentative in nature and are subject to change as the research progresses)


6. Regional Overview

6.1. Introduction

6.2. Market Size & Forecast, 2016 to 2025

6.2.1. North America

6.2.1.1. U.S.

6.2.1.2. Canada

6.2.1.3. Mexico 

6.2.2. Europe

6.2.2.1. UK

6.2.2.2. Germany

6.2.2.3. France

6.2.2.4. Italy 

6.2.2.5. Spain

6.2.2.6. Rest of Europe

6.2.3. Asia-Pacific

6.2.3.1. China

6.2.3.2. India

6.2.3.3. Japan

6.2.3.4. South Korea

6.2.3.5. Rest of Asia-Pacific

6.2.4. LAMEA

6.2.4.1. Brazil

6.2.4.2. UAE

6.2.4.3. South Africa

6.2.4.4. Rest of LAMEA

(Note: The segments mentioned above are tentative in nature and are subject to change as the research progresses)


7. Manufacturer/ Vendor Profile

7.1. The following attributes will be considered while profiling key manufacturers in this industry: 

7.1.1. Company Overview

7.1.2. Financial Synopsis

7.1.3. Recent Developments

7.1.4. R&D Investments (if any)

7.1.5. Strategy Overview (Analyst Perspective)

7.1.6. Product Portfolio

7.2. Companies Profiled

7.2.1. Allianz

7.2.2. USAA Property & Casualty

7.2.3. Amica Insurance

7.2.4. New Jersey Manufacturers Insurance Company

7.2.5. Erie Insurance Group

7.2.6. Auto Club Enterprises Insurance Group

7.2.7. Auto Club Insurance Association

7.2.8. Auto-Owners Insurance Group of Companies

 (Note: The companies mentioned above are tentative in nature, and profiles of other market players not listed here can be included on request.)

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