Press release
Global Motor Vehicle Insurance Market to grow at a CAGR of 5.91% during 2016-2020
About the Motor Vehicle Insurance MarketMotor vehicle insurance policy is the guarantee of compensation provided to a policyholder, wherein the insurer will pay for the repair of accidental damages, theft, or fire (among others) to a third party's property or the insured vehicle.
At the end of 2014, the guaranteed asset protection (GAP) insurance was introduced. It is a supplementary cover taken along with the standard motor insurance policy. It includes certain types of losses that are not covered under the standard policy. For instance, if a person avails GAP insurance, then the insurer will pay the balance loan amount of the vehicle in case of theft or if the automobile is damaged badly. In September 2015, rules proposed by the Financial Conduct Authority (FCA) came into effect; these rules were designed to navigate issues arising from the sales of GAP insurance provided by the motor vehicle industry.
Technavios analysts forecast the global motor vehicle insurance market to grow at a CAGR of 5.91% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global motor vehicle insurance market for 2016-2020. To calculate the market size, the report considers two types of end users:
Personal insurance premiums
Commercial insurance premiums
The market is divided into the following segments based on geography:
Americas
APAC
EMEA
Technavio's report, Global Motor Vehicle Insurance Market, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Download Sample Copy of Report at http://www.marketresearchreports.biz/sample/sample/729278
Key vendors
Allianz
AIG
Allstate Insurance
Berkshire Hathaway
Peoples Insurance Company of China
Ping An Insurance
Other prominent vendors
AXA
Munich Re
Zurich
Market driver
Mandate to buy insurance
For a full, detailed list, view our report
Market challenge
Fraudulent motor vehicle claims
For a full, detailed list, view our report
Market trend
Implementation of advanced analytics tools to reduce fraudulent claims
For a full, detailed list, view our report
Key questions answered in this report
What will the market size be in 2020 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?
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