Financial Services & Insurance Research News

Research delivers insight into the motor vehicle insurance market forecast to 2022

The increase in automobile sales globally is the primary growth driver for this market.

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The global motor vehicle insurance market to grow steadily at a CAGR of around 8% during the forecast period. 

An increase in per capita income in emerging economies has led to an increase in the sales of automobiles. This is driving the global motor vehicle insurance market because governments across the world are making it mandatory to buy insurance policy while purchasing a new vehicle.

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The major players in global market include 
Allstate Insurance
Berkshire Hathaway Homestate
People’s Insurance Company of China
Ping An Insurance
Zurich Insurance Group
Munich Re

Innovations and new insurance product launches are expected to boost the market growth, as indicated by the key findings of this report. The leading insurance players are offering various add-on covers like the zero depreciation motor insurance cover.

This trend is likely to continue well over 2022, and it is expected positively impact insurance sales in new emerging markets.

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