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

August 2021 | 86 pages | ID: N7EAEF4F97CAEN
GMD Research

Abstracts

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.)

Contents

1 INTRODUCTION

1.1 Industry Definition and Research Scope
  1.1.1 Industry Definition
  1.1.2 Research Scope
1.2 Research Methodology
  1.2.1 Overview of Market Research Methodology
  1.2.2 Market Assumption
  1.2.3 Secondary Data
  1.2.4 Primary Data
  1.2.5 Data Filtration and Model Design
  1.2.6 Market Size/Share Estimation
  1.2.7 Research Limitations
1.3 Executive Summary

2 MARKET OVERVIEW AND DYNAMICS

2.1 Market Size and Forecast
  2.1.1 Impact of COVID-19 on World Economy
  2.1.2 Impact of COVID-19 on the Market
2.2 Major Growth Drivers
2.3 Market Restraints and Challenges
2.4 Emerging Opportunities and Market Trends
2.5 Porter’s Fiver Forces Analysis

3 SEGMENTATION OF NORTH AMERICA MARKET BY POLICY TYPE

3.1 Market Overview by Policy Type
3.2 Liability Insurance
3.3 Comprehensive Coverage
3.4 Collision Coverage
3.5 Personal Injury Protection

4 SEGMENTATION OF NORTH AMERICA MARKET BY PREMIUM TYPE

4.1 Market Overview by Premium Type
4.2 Personal Insurance Premiums
4.3 Commercial Insurance Premiums

5 SEGMENTATION OF NORTH AMERICA MARKET BY DISTRIBUTION CHANNEL

5.1 Market Overview by Distribution Channel
5.2 Brokers & Agency
5.3 Financial Institutes
5.4 Direct Sales
5.5 Other Distribution Channels

6 NORTH AMERICA MARKET 2020-2027 BY COUNTRY

6.1 Overview of North America Market
6.2 U.S.
6.3 Canada
6.4 Mexico

7 COMPETITIVE LANDSCAPE

7.1 Overview of Key Vendors
7.2 New Product Launch, Partnership, Investment, and M&A
7.3 Company Profiles
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
RELATED REPORTS

List Of Tables

LIST OF TABLES:

Table 1. Snapshot of North America Motor Insurance Market in Balanced Perspective, 2020-2027
Table 2. Growth Rate of World GDP, 2020-2022
Table 3. Main Product Trends and Market Opportunities in North America Motor Insurance Market
Table 4. North America Motor Insurance Market by Policy Type, 2017-2027, $ mn
Table 5. North America Motor Insurance Market by Premium Type, 2017-2027, $ mn
Table 6. North America Motor Insurance Market by Distribution Channel, 2017-2027, $ mn
Table 7. North America Motor Insurance Market by Country, 2017-2027, $ mn
Table 8. U.S. Motor Insurance Market by Policy Type, 2017-2027, $ mn
Table 9. U.S. Motor Insurance Market by Premium Type, 2017-2027, $ mn
Table 10. U.S. Motor Insurance Market by Distribution Channel, 2017-2027, $ mn
Table 11. Canada Motor Insurance Market by Policy Type, 2017-2027, $ mn
Table 12. Canada Motor Insurance Market by Premium Type, 2017-2027, $ mn
Table 13. Canada Motor Insurance Market by Distribution Channel, 2017-2027, $ mn
Table 14. Leading Private Property and Casualty Insurance Companies in Canada, 2018, by % of Revenue
Table 15. Mexico Motor Insurance Market by Policy Type, 2017-2027, $ mn
Table 16. Mexico Motor Insurance Market by Premium Type, 2017-2027, $ mn
Table 17. Mexico Motor Insurance Market by Distribution Channel, 2017-2027, $ mn
Table 18. Allianz SE: Company Snapshot
Table 19. Allianz SE: Business Segmentation
Table 20. Allianz SE: Product Portfolio
Table 21. Allianz SE: Revenue, 2018-2020, $ mn

List Of Figures

LIST OF FIGURES:

Figure 1. Research Method Flow Chart
Figure 2. Bottom-up Approach and Top-down Approach for Market Estimation
Figure 3. North America Market Forecast in Optimistic, Conservative and Balanced Perspectives, 2020-2027
Figure 4. North America Motor Insurance Market, 2017-2027, $ mn
Figure 5. Impact of COVID-19 on Business
Figure 6. Primary Drivers and Impact Factors of North America Motor Insurance Market
Figure 7. World Vehicle Production by Car Type, 2019-2030, million units
Figure 8. Capital Invested in Insurance Tech Companies Worldwide, 2017-2020, $ billion
Figure 9. Forecast of Middle-class Population by Region, 2015-2030, million
Figure 10. Primary Restraints and Impact Factors of North America Motor Insurance Market
Figure 11. Investment Opportunity Analysis
Figure 12. Porter’s Fiver Forces Analysis of North America Motor Insurance Market
Figure 13. Breakdown of North America Motor Insurance Market by Policy Type, 2020-2027, % of Revenue
Figure 14. Contribution to North America 2021-2027 Cumulative Market by Policy Type, Value ($ mn) and Share (%)
Figure 15. North America Motor Insurance Market: Liability Insurance, 2017-2027, $ mn
Figure 16. North America Motor Insurance Market: Comprehensive Coverage, 2017-2027, $ mn
Figure 17. North America Motor Insurance Market: Collision Coverage, 2017-2027, $ mn
Figure 18. North America Motor Insurance Market: Personal Injury Protection, 2017-2027, $ mn
Figure 19. Breakdown of North America Motor Insurance Market by Premium Type, 2020-2027, % of Revenue
Figure 20. Contribution to North America 2021-2027 Cumulative Market by Premium Type, Value ($ mn) and Share (%)
Figure 21. North America Motor Insurance Market: Personal Insurance Premiums, 2017-2027, $ mn
Figure 22. North America Motor Insurance Market: Commercial Insurance Premiums, 2017-2027, $ mn
Figure 23. Breakdown of North America Motor Insurance Market by Distribution Channel, 2020-2027, % of Revenue
Figure 24. Contribution to North America 2021-2027 Cumulative Market by Distribution Channel, Value ($ mn) and Share (%)
Figure 25. North America Motor Insurance Market: Brokers & Agency, 2017-2027, $ mn
Figure 26. North America Motor Insurance Market: Financial Institutes, 2017-2027, $ mn
Figure 27. North America Motor Insurance Market: Direct Sales, 2017-2027, $ mn
Figure 28. North America Motor Insurance Market: Other Distribution Channels, 2017-2027, $ mn
Figure 29. Breakdown of North America Motor Insurance Market by Country, 2020 and 2027, % of Revenue
Figure 30. Contribution to North America 2021-2027 Cumulative Market by Country, Value ($ mn) and Share (%)
Figure 31. U.S. Motor Insurance Market, 2017-2027, $ mn
Figure 32. Canada Motor Insurance Market, 2017-2027, $ mn
Figure 33. Motor Insurance Market in Mexico, 2017-2027, $ mn
Figure 34. Growth Stage of North America Motor Insurance Industry over the Forecast Period