Global Motor Insurance Market

Global Motor Insurance Market Overview 

• The Global Motor Insurance Market Size is Anticipated to Grow from USD 851.5 Billion in 2023 to USD 1680.5 Billion by 2033, growing at a CAGR of 7.03% from 2023 to 2033.
• The market growth is rising due to the increasing sales of motor vehicles, digitalization through mobile apps and online platforms, and an emphasis on improving customer services.
• The motor insurance market refers to the sector including insurance policies, providers, and regulatory framework related to the vehicle, which provide financial protection to vehicle owners against risks like accidents, theft, and other damages.
• The introduction of telematics and connected vehicles, which is attracting a more tech-savvy consumer base, aids in promoting market growth. 

Major vendors in the Global Motor Insurance Market

American International Group Inc., Assicurazioni Generali S.p.A., AXA Cooperative Insurance Company (Gulf Insurance Company K.S.C.), Bajaj Allianz General Insurance Company Limited, China Ping An Insurance Co. Ltd., Government Employees Insurance Company (Berkshire Hathaway Inc.), Reliance General Insurance Company Limited (Reliance Capital Limited ), State Farm Mutual Automobile Insurance Company, The Hanover Insurance Group Inc. (Opus Investment Management), The Progressive Corporation, Universal Sompo General Insurance Company Limited, and Zurich Insurance Group Ltd., and others.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Decision Advisor has segmented the Motor Insurance market based on the below-mentioned segments:

Global Motor Insurance Market, By Insurance Type

• Third Party Liability
• Comprehensive

Global Motor Insurance Market, By Distribution Channel

• Agents
• Brokers
• Banks
• Online
• Others

Global Motor Insurance Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa