Hybrid and EV Insurance Market to Expand Significantly by 2024 | Metromile, Progressive Corporation, AXA SA

The "Global Hybrid and EV Insurance" intelligence report, just published by USD Analytics, covers insurers' micro-level study of important market niches, product offers, and sales channels. To determine market size, potential, growth trends, and competitive environment, Global Hybrid and EV Insurance provides dynamic views. Both primary and secondary sources of data were used to generate the research, which has both qualitative and quantitative depth. Several of the major figures the study featured Allianz SE (Germany), AXA SA (France), Berkshire Hathaway Inc (United States), Farmers Insurance Exchange (United States), GEICO (United States), Liberty Mutual Group (United States), MAPFRE S.A (Spain), MetLife Inc. (United States), Ping An Insurance (Group) Company of China Ltd. (China), Progressive Corporation (United States), State Farm Insurance (United States), The Travelers Indemnity Company (United States), Metromile (United States), Allstate Insurance Company (United States), Mercury Insurance Group (United States)

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An Overview of the Hybrid and EV Insurance Market
Hybrid and EV insurance refers to insurance coverage specifically designed for hybrid and electric vehicles (EVs). As the automotive industry transitions towards greener and more sustainable technologies, insurers are adapting their products to meet the unique needs and characteristics of hybrid and electric cars. Insurance for hybrid and electric vehicles takes into consideration factors such as the specialized components and systems in these vehicles, including high-voltage batteries and electric drivetrains. Coverage may include protection for damage to the vehicle's battery, which is a significant and expensive component in EVs. Additionally, hybrid and EV insurance may address the specific risks and considerations related to the charging infrastructure, as electric vehicles rely on charging stations for refueling. This could involve coverage for damage or liability associated with home charging stations or public charging infrastructure
The Global Hybrid and EV Insurance Market Size is expected to experience a significant growth of 38.8% during the forecast period from 2024 to 2030.

This course is essential to maintain current market knowledge if you are or want to be involved in the Hybrid and EV Insurance industry. By Type (Liability Insurance, Collision Insurance, Comprehensive Insurance, Others), Application (Hybrid Vehicles, Plug-in Hybrid Vehicles, Battery Electric Vehicles, Fuel Cell Electric Vehicles), Coverage Type (Accidental Damage, Theft or Malicious Damage, Car Battery and Auto Parts Replacement), and significant players are the three market segments. To provide a thorough analysis of the industry, the report compiled data from over 22 jurisdictions or nations across Europe, North America, South America, Asia Pacific, and MEA.

Geographically, the global version of the report has the following country inclusion:
• North America [United States, Canada, and Mexico]
• Europe [Germany, the UK, France, Italy, Netherlands, Belgium, Denmark, Spain, Sweden, and the Rest of Europe]
• Asia-Pacific [China, Japan, South Korea, India, Australia, Indonesia, and Others]
• South America [Brazil, Argentina, Colombia, and the Rest of South America]
• the Middle East and Africa (South Africa, Turkey, Israel, GCC Countries, and the Rest of Africa)

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The primary goal of this study is to determine which market niches or nations insurance companies and aggregators should concentrate on in the future to allocate their resources and efforts toward Hybrid and EV Insurances that will optimize growth and profitability. 2020 will see notably slower growth, and given the dynamic macroeconomic and regulatory environment, mature markets in North America and Western Europe will need "heavy lifting" to handle these tendencies.
In the insurance sector, distribution channels are always crucial because of the "push" nature of many offerings in the sector. To strengthen their relationship with customers, insurers have been refining their distribution model. Face-to-face selling (agents and brokers) has been dominant in the Hybrid and EV Insurance sector over the years. But as the Internet becomes more widely used and consumers start to value expediency, digital purchases are growing in popularity in Hybrid and EV Insurance.
Furthermore, the years considered for the study are as follows:
Historical year - 2018-2022
Base year - 2022
Forecast period** - 2023 to 2030 [** unless otherwise stated]

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Major Highlights of TOC:
Chapter 1: Overview of the Global Hybrid and EV Insurance Market Industry
1.1.1 Overview;
1.1 Hybrid and EV Insurance Industry
1.1.2 Key Companies' Products
1.2 Market Segment by Hybrid and EV Insurance
1.2.1 Industry Chain
1.2.2 Customer Behavior & Distribution Routes
Chapter Two: Demand for Hybrid and EV Insurances Worldwide
2.1 Overview of the Segment
2.2 Global Hybrid and EV Insurance Market Size (2018-2022) by Application/End Users
2.3 Application/End User Forecast for the Global Hybrid and EV Insurance Market (2023E-2029)

Chapter 3: Type-wise Global Hybrid and EV Insurance Market
3.1 According to Type
3.2 Market Size for Hybrid and EV Insurances by Type, 2018-2022
3.3 Market Forecast for Hybrid and EV Insurances by Type (2023E-2030)

Chapter Four: Hybrid and EV Insurance Market: by Region/Country
4.1 Hybrid and EV Insurance Market by Regions
4.2 Hybrid and EV Insurance Market Revenue & Share by Region
4.3 North America
4.4 Europe
4.5 the Asia Pacific
4.6 South America
4.7 the Middle East & Africa
Player Analysis in Chapter Five
5.1 Players' Market Share Analysis (2019-2021E)
5.2 Regional Market Concentration Rates
5.3 Overviews of Companies
..........continued

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Thanks for reading this article; you can also get individual chapter-wise sections or region-wise report versions like North America, Europe, or Asia.

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