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| Report Code: A07582 | Dec 2021 | Pages: 243 | ||
| Tables: 104 | Charts: 44 |
| |
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Two-wheeler Insurance Market
Request Now !The global two-wheeler insurance market size was valued at $91.6 billion in 2020, and is projected to reach $171.88 billion by 2030, registering a CAGR of 6.8% from 2021 to 2030.
With an unprecedented COVID-19 pandemic, demand for two-wheeler insurance insurance has affected due to rapid increase in motor liability premium rates & claim payments, continued pressure towards pricing, and rising severity of losses across several industry verticals
The demand for two-wheeler insurance market is increasing among consumers as it ensures financial protection in the event of vehicle damage or theft. Along with financial protection of vehicle, it provides third-party liability coverage to insured person for causing injury, death, or property damage to other drivers, passengers, or pedestrians. Hence, having two-wheeler insurance is a legal requirement and necessity with the right level of cover in many states.
Rise in number of accidents, implementation of stringent government regulations for the adoption of two-wheeler insurance and increase in two-wheeler sales globally due to surge in per capita income of consumers are the major factors that drive the global two-wheeler insurance market growth. Moreover, adoption of autonomous vehicles hampers the growth of the market. Furthermore, implementation of technologies in existing products and service lines and rise in demand of third-party liability coverage in emerging economies are expected to provide lucrative opportunity for the market expansion during the forecast period.
By policy type, the third-party liability insurance segment in two-wheeler insurance market is expected to garner a significant share during the forecast period, owing to compulsory government regulations to buy two-wheeler insurance for both new and old vehicle owners at the time of registration of vehicles. However, the comprehensive insurance segment is expected to witness growth at the highest rate during the forecast period, as it covers the cost of damage up to actual cash value of two-wheelers and provides financial safety against non-accident-related claims.
Region wise, the two-wheeler insurance market share was dominated by North America in 2020 owing to economically stable countries such as the U.S and Canada, which having large number of two-wheelers. However, Asia-Pacific is expected to witness the highest growth rate during the forecast period, owing to the presence of high population base and strong economic growth in the countries such as India and China.
The report focuses on growth prospects, restraints, and trends of the two-wheeler insurance market analysis. The study provides Porter’s five forces analysis to understand impact of various factors, such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers, on the two-wheeler insurance market share.
The global two-wheeler insurance market share is segmented into policy type, distribution channel, vehicle age, and region. In terms of policy type, it is fragmented into third party liability insurance and comprehensive insurance. By distribution channel, it is segregated into insurance agents/brokers, direct response, banks, and others. As per vehicle age, it is divided into new vehicle and used vehicle. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players operating in the global two-wheeler insurance industry include STATE FARM MUTUAL AUTOMOBILE INSURANCE, GEICO, ALLSTATE INSURANCE COMPANY, Bajaj Allianz General Insurance, Farmers, Dairyland, Liberty General Insurance Ltd., ACKO General Insurance Limited, Progressive Casualty Insurance Company, and USAA. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global two-wheeler insurance market.
The two-wheeler insurance industry has recorded continuous investments for its developments and has become a massive contributor to the economic growth. However, this industry has been largely affected due to the outbreak of the COVID-19 pandemic, leading to economic instability. 2-wheeler insurance has been available online much before the pandemic hit the world but for numerous reasons people were opting for the traditional method for getting their 2-wheeler insured. However, with the surge in COVID-19 cases, there is a need to maintain contactless connections yet still continue with essential tasks and the internet has opened doors to buying insurance in the same way as shopping for clothes or groceries online. Moreover, buying 2-wheeler insurance online is no more a choice as online insurance is the only means to avail the compulsory liability insurance. Digital-first insurers such as ACKO were offering online policies even before COVID times, but now online insurance has become a new norm given the circumstances.
Rise in demand for two-wheeler insurance on accidents such as traffic collisions, physical damage or bodily injury, theft, and fire builds pressure on insurance companies to invest and develop such products that have less proliferation, high coverage, and provide financial security in the form of medical injury or any other damages. In recent years, accidents are increasing, in terms of road crashes, traffic injuries, drunk driving, and distracted driving for speeding, which resulted in need for two-wheeler insurance. Majority of vehicle users depend on two-wheeler insurance to prevent themselves from future financial losses such as injuries to drivers, passengers, or pedestrians. In addition, two-wheeler insurance incorporates such coverages, which helps to compensate family members of policyholders after his/her death. Therefore, insurance providers have increased the number of coverages in their products for enhancing the overall user interface experience and to keep ahead of their competitors in the two-wheeler insurance market in the upcoming years.
To protect consumers from biased price, which is likely to increase in the coming years, and to ensure that insurance companies remain financially solvent, both federal and state governments made two-wheeler insurance mandatory during the time of registration of vehicles. This factor increases sales of two-wheeler insurances among consumers. According to the Motor Vehicle Act 1988, it is obligatory for two-wheeler users to have two-wheeler insurance to cover the amount that they have paid or are legally liable to pay as damages to third parties for property damage or accidental death.
Furthermore, along with the mandatory coverage, the Motor Vehicle Act revised penalties against violation of possession of a basic Compulsory Third-party Policy, which has brought many uninsured vehicles in the insurance domain. Thus, such stringent regulatory requirements boost sales of two-wheeler insurance policies, thereby contributing toward growth of the global two-wheeler insurance market size.
Key Benefits For Stakeholders
Two-Wheeler Insurance Market Report Highlights
| Aspects | Details |
|---|---|
| By Policy Type |
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| By Distribution Channel |
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| By Vehicle Age |
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| By Region |
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| By Key Market Players |
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CHAPTER 1:INTRODUCTION
1.1.Report description
1.2.Key benefits for stakeholders
1.3.Key market segments
1.4.Research methodology
1.4.1.Secondary research
1.4.2.Primary research
1.4.3.Analyst tools & models
CHAPTER 2:EXECUTIVE SUMMARY
2.1.Key findings
2.1.1.Top impacting factors
2.1.2.Top investment pockets
2.2.CXO perspective
CHAPTER 3:MARKET OVERVIEW
3.1.Market definition and scope
3.2.Key Forces Shaping Two-Wheeler Insurance Market
3.2.1.High bargaining power of buyers
3.2.2.Moderate threat of substitutes
3.2.3.Moderate threat of new entrants
3.2.4.High competitive rivalry
3.3.Market dynamics
3.3.1.Drivers
3.3.1.1.Rise in number of traffic accidents
3.3.1.2.Regulatory requirements for adoption of two-wheeler insurance
3.3.2.Restraint
3.3.2.1.Lack of awareness regarding two-wheeler insurance policy
3.3.3.Opportunities
3.3.3.1.Increase in demand for two-wheeler insurance products and services
3.3.3.2.Implementation of technologies in existing product and service lines
3.4.COVID-19 impact analysis on two-wheeler insurance market
3.4.1.Impact on market size
3.4.2.Change in consumer trends, preferences, and budget impact due to COVID-19
3.4.3.Economic impact
3.4.4.Key player strategies to tackle negative impact in the industry
3.4.5.Opportunity analysis for 2-wheeler providers
CHAPTER 4:TWO-WHEELER INSURANCE MARKET, BY POLICY TYPE
4.1.Overview
4.2.Third-Party Liability Insurance
4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast, by region
4.2.3.Market analysis, by country
4.3.Comprehensive Insurance
4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast, by region
4.3.3.Market analysis, by country
CHAPTER 5:TWO-WHEELER INSURANCE MARKET, BY DISTRIBUTION CHANNEL
5.1.Overview
5.2.Insurance agents/brokers
5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast, by region
5.2.3.Market analysis, by country
5.3.Direct response/insurance companies
5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast, by region
5.3.3.Market analysis, by country
5.3.4.Banks
5.3.5.Key market trends, growth factors, and opportunities
5.3.6.Market size and forecast, by region
5.3.7.Market analysis, by country
5.4.Others
5.4.1.Key market trends, growth factors, and opportunities
5.4.2.Market size and forecast, by region
5.4.3.Market analysis, by country
CHAPTER 6:TWO-WHEELER INSURANCE MARKET, BY VEHICLE AGE
6.1.Overview
6.2.New vehicle
6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market size and forecast, by region
6.2.3.Market analysis, by country
6.3.Used vehicle
6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast, by region
6.3.3.Market analysis, by country
CHAPTER 7:TWO-WHEELER INSURANCE MARKET, BY REGION
7.1.Overview
7.1.1.Market size and forecast, by region
7.2.North America
7.2.1.Key market trends, growth factors, and opportunities
7.2.2.Market size and forecast, by Policy Type
7.2.3.Market size and forecast, by distribution channel
7.2.4.Market size and forecast, by vehicle age
7.2.5.Market analysis, by country
7.2.5.1.U.S.
7.2.5.1.1.Market size and forecast, by Policy Type
7.2.5.1.2.Market size and forecast, by distribution channel
7.2.5.1.3.Market size and forecast, by vehicle age
7.2.5.2.Canada
7.2.5.2.1.Market size and forecast, by Policy Type
7.2.5.2.2.Market size and forecast, by distribution channel
7.2.5.2.3.Market size and forecast, by vehicle age
7.3.Europe
7.3.1.Key market trends, growth factors, and opportunities
7.3.2.Market size and forecast, by Policy Type
7.3.3.Market size and forecast, by distribution channel
7.3.4.Market size and forecast, by vehicle age
7.3.5.Market analysis, by country
7.3.5.1.Germany
7.3.5.1.1.Market size and forecast, by Policy Type
7.3.5.1.2.Market size and forecast, by distribution channel
7.3.5.1.3.Market size and forecast, by vehicle age
7.3.5.2.UK
7.3.5.2.1.Market size and forecast, by Policy Type
7.3.5.2.2.Market size and forecast, by distribution channel
7.3.5.2.3.Market size and forecast, by vehicle age
7.3.5.3.France
7.3.5.3.1.Market size and forecast, by Policy Type
7.3.5.3.2.Market size and forecast, by distribution channel
7.3.5.3.3.Market size and forecast, by vehicle age
7.3.5.4.Italy
7.3.5.4.1.Market size and forecast, by Policy Type
7.3.5.4.2.Market size and forecast, by distribution channel
7.3.5.4.3.Market size and forecast, by vehicle age
7.3.5.5.Spain
7.3.5.5.1.Market size and forecast, by Policy Type
7.3.5.5.2.Market size and forecast, by distribution channel
7.3.5.5.3.Market size and forecast, by vehicle age
7.3.5.6.Rest of Europe
7.3.5.6.1.Market size and forecast, by Policy Type
7.3.5.6.2.Market size and forecast, by distribution channel
7.3.5.6.3.Market size and forecast, by vehicle age
7.4.Asia-Pacific
7.4.1.Key market trends, growth factors, and opportunities
7.4.2.Market size and forecast, by Policy Type
7.4.3.Market size and forecast, by distribution channel
7.4.4.Market size and forecast, by vehicle age
7.4.5.Market analysis, by country
7.4.6.1.China
7.4.6.1.1.Market size and forecast, by Policy Type
7.4.6.1.2.Market size and forecast, by distribution channel
7.4.6.1.3.Market size and forecast, by vehicle age
7.4.6.2.Japan
7.4.6.2.1.Market size and forecast, by Policy Type
7.4.6.2.2.Market size and forecast, by distribution channel
7.4.6.2.3.Market size and forecast, by vehicle age
7.4.6.3.India
7.4.6.3.1.Market size and forecast, by Policy Type
7.4.6.3.2.Market size and forecast, by distribution channel
7.4.6.3.3.Market size and forecast, by vehicle age
7.4.6.4.Australia
7.4.6.4.1.Market size and forecast, by Policy Type
7.4.6.4.2.Market size and forecast, by distribution channel
7.4.6.4.3.Market size and forecast, by vehicle age
7.4.6.5.South Korea
7.4.6.5.1.Market size and forecast, by Policy Type
7.4.6.5.2.Market size and forecast, by distribution channel
7.4.6.5.3.Market size and forecast, by vehicle age
7.4.6.6.Rest of Asia-Pacific
7.4.6.6.1.Market size and forecast, by Policy Type
7.4.6.6.2.Market size and forecast, by distribution channel
7.4.6.6.3.Market size and forecast, by vehicle age
7.5.LAMEA
7.5.1.Key market trends, growth factors, and opportunities
7.5.2.Market size and forecast, by Policy Type
7.5.3.Market size and forecast, by distribution channel
7.5.4.Market size and forecast, by vehicle age
7.5.5.Market analysis, by country
7.5.5.1.Latin America
7.5.5.1.1.Market size and forecast, by Policy Type
7.5.5.1.2.Market size and forecast, by distribution channel
7.5.5.1.3.Market size and forecast, by vehicle age
7.5.5.2.Middle East
7.5.5.2.1.Market size and forecast, by Policy Type
7.5.5.2.2.Market size and forecast, by distribution channel
7.5.5.2.3.Market size and forecast, by vehicle age
7.5.5.3.Africa
7.5.5.3.1.Market size and forecast, by Policy Type
7.5.5.3.2.Market size and forecast, by distribution channel
7.5.5.3.3.Market size and forecast, by vehicle age
CHAPTER 8:COMPETITIVE LANDSCAPE
8.1.Key players positioning analysis, 2020
8.2.Competitive dashboard
8.3.Top winning strategies
CHAPTER 9:COMPANY PROFILES
9.1.ACKO General Insurance Limited
9.1.1.Company overview
9.1.2.Company snapshot
9.1.3.Product portfolio
9.1.4.Key strategic moves and developments
9.1.5.Business performance
9.2.ALLSTATE INSURANCE COMPANY
9.2.1.Company overview
9.2.2.Key executives
9.2.3.Company snapshot
9.2.5.Product portfolio
9.2.6.Business performance
9.2.7.Key strategic moves and developments
9.3.Bajaj Allianz General Insurance
9.3.1.Company overview
9.3.2.Key executives
9.3.3.Company snapshot
9.3.4.Product portfolio
9.4.Dairyland
9.4.1.Company overview
9.4.2.Key Executives
9.4.3.Company snapshot
9.4.4.Product portfolio
9.5.Farmers
9.5.1.Company overview
9.5.2.Key executives
9.5.3.Company snapshot
9.5.4.Product portfolio
9.5.5.Key strategic moves and developments
9.6.GEICO
9.6.1.Company overview
9.6.2.Company snapshot
9.6.3.Product portfolio
9.7.Liberty General Insurance Ltd.
9.7.1.Company overview
9.7.2.Company snapshot
9.7.3.Product portfolio
9.7.4.Key strategic moves and developments
9.8.Progressive Casualty Insurance Company
9.8.1.Company overview
9.8.2.Company snapshot
9.8.3.Product portfolio
9.8.4.Business performance
9.8.5.Key strategic moves and developments
9.9.STATE FARM MUTUAL AUTOMOBILE INSURANCE
9.9.1.Company overview
9.9.2.Company snapshot
9.9.3.Product portfolio
9.10.USAA
9.10.1.Company overview
9.10.2.Company snapshot
9.10.3.Product portfolio
LIST OF TABLES
TABLE 01.TWO-WHEELER INSURANCE MARKET REVENUE, BY POLICY TYPE, 2020–2030($MILLION)
TABLE 02.TWO-WHEELER INSURANCE MARKET REVENUE FOR THIRD-PARTY LIABILITY INSURANCE, BY REGION, 2020–2030($MILLION)
TABLE 03.TWO-WHEELER INSURANCE MARKET REVENUE FOR COMPREHENSIVE INSURANCE, BY REGION, 2020–2030($MILLION)
TABLE 04.TWO-WHEELER INSURANCE MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2020–2030($MILLION)
TABLE 05.TWO-WHEELER INSURANCE MARKET REVENUE FOR INSURANCE AGENTS/ BROKERS, BY REGION, 2020–2030($MILLION)
TABLE 06.TWO-WHEELER INSURANCE MARKET REVENUE FOR DIRECT RESPONSE/INSURANCE COMPANIES, BY REGION, 2020–2030($MILLION)
TABLE 07.TWO-WHEELER INSURANCE MARKET REVENUE FOR BANKS, BY REGION, 2020–2030($MILLION)
TABLE 08.TWO-WHEELER INSURANCE MARKET REVENUE FOR OTHERS, BY REGION, 2020–2030($MILLION)
TABLE 09.TWO-WHEELER INSURANCE MARKET REVENUE, BY VEHICLE AGE, 2019-2027 ($MILLION)
TABLE 10.TWO-WHEELER INSURANCE MARKET REVENUE FOR NEW VEHICLE, BY REGION, 2020–2030($MILLION)
TABLE 11.TWO-WHEELER INSURANCE MARKET REVENUE FOR USED VEHICLE, BY REGION, 2020–2030($MILLION)
TABLE 12.TWO-WHEELER INSURANCE MARKET REVENUE, BY REGION, 2020–2030($MILLION)
TABLE 13.NORTH AMERICA TWO-WHEELER INSURANCE MARKET REVENUE, BY POLICY TYPE, 2020–2030($MILLION)
TABLE 14.NORTH AMERICA TWO-WHEELER INSURANCE MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2020–2030 ($MILLION)
TABLE 15.NORTH AMERICA TWO-WHEELER INSURANCE MARKET REVENUE, BY VEHICLE AGE 2020–2030($MILLION)
TABLE 16.NORTH AMERICA TWO-WHEELER INSURANCE MARKET REVENUE, BY COUNTRY, 2020–2030($MILLION)
TABLE 17.U.S. TWO-WHEELER INSURANCE MARKET REVENUE, BY POLICY TYPE, 2020–2030($MILLION)
TABLE 18.U.S. TWO-WHEELER INSURANCE MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2020–2030($MILLION)
TABLE 19.U.S. TWO-WHEELER INSURANCE MARKET REVENUE, BY VEHICLE AGE, 2020–2030($MILLION)
TABLE 20.CANADA TWO-WHEELER INSURANCE MARKET REVENUE, BY POLICY TYPE, 2020–2030($MILLION)
TABLE 21.CANADA TWO-WHEELER INSURANCE MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2020–2030($MILLION)
TABLE 22.CANADA TWO-WHEELER INSURANCE MARKET REVENUE, BY VEHICLE AGE, 2020–2030($MILLION)
TABLE 23.EUROPE TWO-WHEELER INSURANCE MARKET REVENUE, BY POLICY TYPE, 2020–2030($MILLION)
TABLE 24.EUROPE TWO-WHEELER INSURANCE MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2020–2030 ($MILLION)
TABLE 25.EUROPE TWO-WHEELER INSURANCE MARKET REVENUE, BY VEHICLE AGE 2020–2030($MILLION)
TABLE 26.EUROPE TWO-WHEELER INSURANCE MARKET REVENUE, BY COUNTRY, 2020–2030($MILLION)
TABLE 27.GERMANY TWO-WHEELER INSURANCE MARKET REVENUE, BY POLICY TYPE, 2020–2030($MILLION)
TABLE 28.GERMANY TWO-WHEELER INSURANCE MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2020–2030($MILLION)
TABLE 29.GERMANY TWO-WHEELER INSURANCE MARKET REVENUE, BY VEHICLE AGE, 2020–2030($MILLION)
TABLE 30.UK TWO-WHEELER INSURANCE MARKET REVENUE, BY POLICY TYPE, 2020–2030($MILLION)
TABLE 31.UK TWO-WHEELER INSURANCE MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2020–2030($MILLION)
TABLE 32.UK TWO-WHEELER INSURANCE MARKET REVENUE, BY VEHICLE AGE, 2020–2030($MILLION)
TABLE 33.FRANCE TWO-WHEELER INSURANCE MARKET REVENUE, BY POLICY TYPE, 2020–2030($MILLION)
TABLE 34.FRANCE TWO-WHEELER INSURANCE MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2020–2030($MILLION)
TABLE 35.FRANCE TWO-WHEELER INSURANCE MARKET REVENUE, BY VEHICLE AGE, 2020–2030($MILLION)
TABLE 36.ITALY TWO-WHEELER INSURANCE MARKET REVENUE, BY POLICY TYPE, 2020–2030($MILLION)
TABLE 37.ITALY TWO-WHEELER INSURANCE MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2020–2030($MILLION)
TABLE 38.ITALY TWO-WHEELER INSURANCE MARKET REVENUE, BY VEHICLE AGE, 2020–2030($MILLION)
TABLE 39.SPAIN TWO-WHEELER INSURANCE MARKET REVENUE, BY POLICY TYPE, 2020–2030($MILLION)
TABLE 40.SPAIN TWO-WHEELER INSURANCE MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2020–2030($MILLION)
TABLE 41.SPAIN TWO-WHEELER INSURANCE MARKET REVENUE, BY VEHICLE AGE, 2020–2030($MILLION)
TABLE 42.REST OF EUROPE TWO-WHEELER INSURANCE MARKET REVENUE, BY POLICY TYPE, 2020–2030($MILLION)
TABLE 43.REST OF EUROPE TWO-WHEELER INSURANCE MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2020–2030($MILLION)
TABLE 44.REST OF EUROPE TWO-WHEELER INSURANCE MARKET REVENUE, BY VEHICLE AGE, 2020–2030($MILLION)
TABLE 45.ASIA-PACIFICTWO-WHEELER INSURANCE MARKET REVENUE, BY POLICY TYPE, 2020–2030($MILLION)
TABLE 46.ASIA-PACIFICTWO-WHEELER INSURANCE MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2020–2030 ($MILLION)
TABLE 47.ASIA-PACIFICTWO-WHEELER INSURANCE MARKET REVENUE, BY VEHICLE AGE 2020–2030($MILLION)
TABLE 48.ASIA-PACIFICTWO-WHEELER INSURANCE MARKET REVENUE, BY COUNTRY, 2020–2030($MILLION)
TABLE 49.CHINA TWO-WHEELER INSURANCE MARKET REVENUE, BY POLICY TYPE, 2020–2030($MILLION)
TABLE 50.CHINA TWO-WHEELER INSURANCE MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2020–2030($MILLION)
TABLE 51.CHINA TWO-WHEELER INSURANCE MARKET REVENUE, BY VEHICLE AGE, 2020–2030($MILLION)
TABLE 52.JAPAN TWO-WHEELER INSURANCE MARKET REVENUE, BY POLICY TYPE, 2020–2030($MILLION)
TABLE 53.JAPAN TWO-WHEELER INSURANCE MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2020–2030($MILLION)
TABLE 54.JAPAN TWO-WHEELER INSURANCE MARKET REVENUE, BY VEHICLE AGE, 2020–2030($MILLION)
TABLE 55.INDIA TWO-WHEELER INSURANCE MARKET REVENUE, BY POLICY TYPE, 2020–2030($MILLION)
TABLE 56.INDIA TWO-WHEELER INSURANCE MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2020–2030($MILLION)
TABLE 57.INDIA TWO-WHEELER INSURANCE MARKET REVENUE, BY VEHICLE AGE, 2020–2030($MILLION)
TABLE 58.AUSTRALIA TWO-WHEELER INSURANCE MARKET REVENUE, BY POLICY TYPE, 2020–2030($MILLION)
TABLE 59.AUSTRALIA TWO-WHEELER INSURANCE MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2020–2030($MILLION)
TABLE 60.AUSTRALIA TWO-WHEELER INSURANCE MARKET REVENUE, BY VEHICLE AGE, 2020–2030($MILLION)
TABLE 61.SOUTH KOREA TWO-WHEELER INSURANCE MARKET REVENUE, BY POLICY TYPE, 2020–2030($MILLION)
TABLE 62.SOUTH KOREA TWO-WHEELER INSURANCE MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2020–2030($MILLION)
TABLE 63.SOUTH KOREA TWO-WHEELER INSURANCE MARKET REVENUE, BY VEHICLE AGE, 2020–2030($MILLION)
TABLE 64.REST OF ASIA-PACIFIC TWO-WHEELER INSURANCE MARKET REVENUE, BY POLICY TYPE, 2020–2030($MILLION)
TABLE 65.REST OF ASIA-PACIFIC TWO-WHEELER INSURANCE MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2020–2030($MILLION)
TABLE 66.REST OF ASIA-PACIFIC TWO-WHEELER INSURANCE MARKET REVENUE, BY VEHICLE AGE, 2020–2030($MILLION)
TABLE 67.LAMEA TWO-WHEELER INSURANCE MARKET REVENUE, BY POLICY TYPE, 2020–2030($MILLION)
TABLE 68.LAMEA TWO-WHEELER INSURANCE MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2020–2030 ($MILLION)
TABLE 69.LAMEA TWO-WHEELER INSURANCE MARKET REVENUE, BY VEHICLE AGE 2020–2030($MILLION)
TABLE 70.LAMEA TWO-WHEELER INSURANCE MARKET REVENUE, BY COUNTRY, 2020–2030($MILLION)
TABLE 71.LATIN AMERICA TWO-WHEELER INSURANCE MARKET REVENUE, BY POLICY TYPE, 2020–2030($MILLION)
TABLE 72.LATIN AMERICA TWO-WHEELER INSURANCE MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2020–2030($MILLION)
TABLE 73.LATIN AMERICA TWO-WHEELER INSURANCE MARKET REVENUE, BY VEHICLE AGE, 2020–2030($MILLION)
TABLE 74.MIDDLE EAST TWO-WHEELER INSURANCE MARKET REVENUE, BY POLICY TYPE, 2020–2030($MILLION)
TABLE 75.MIDDLE EAST TWO-WHEELER INSURANCE MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2020–2030($MILLION)
TABLE 76.MIDDLE EAST TWO-WHEELER INSURANCE MARKET REVENUE, BY VEHICLE AGE, 2020–2030($MILLION)
TABLE 77.AFRICA TWO-WHEELER INSURANCE MARKET REVENUE, BY POLICY TYPE, 2020–2030($MILLION)
TABLE 78.AFRICA TWO-WHEELER INSURANCE MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2020–2030($MILLION)
TABLE 79.AFRICA TWO-WHEELER INSURANCE MARKET REVENUE, BY VEHICLE AGE, 2020–2030($MILLION)
TABLE 80.ACKO GENERAL INSURANCE LIMITED: COMPANY SNAPSHOT
TABLE 81.ACKO GENERAL INSURANCE LIMITED: PRODUCT PORTFOLIO
TABLE 82.ALLSTATE: KEY EXECUTIVES
TABLE 83.ALLSTATE: COMPANY SNAPSHOT
TABLE 85.ALLSTATE INSURANCE COMPANY. : PRODUCT PORTFOLIO
TABLE 86.BAJAJ ALLIANZ GENERAL INSURANCE: KEY EXECUTIVES
TABLE 87.BAJAJ ALLIANZ GENERAL INSURANCE: COMPANY SNAPSHOT
TABLE 88.BAJAJ ALLIANZ GENERAL INSURANCE: PRODUCT PORTFOLIO
TABLE 89.DAIRYLAND: KEY EXECUTIVES
TABLE 90.DAIRYLAND: COMPANY SNAPSHOT
TABLE 91.DAIRYLAND: PRODUCT PORTFOLIO
TABLE 92.FARMERS: KEY EXECUTIVES
TABLE 93.FARMERS: COMPANY SNAPSHOT
TABLE 94.FARMERS: PRODUCT PORTFOLIO
TABLE 95.GEICO: COMPANY SNAPSHOT
TABLE 96.GEICO : PRODUCT PORTFOLIO
TABLE 97.LIBERTY GENERAL INSURANCE LTD.: COMPANY SNAPSHOT
TABLE 98.LIBERTY GENERAL INSURANCE LTD: PRODUCT PORTFOLIO
TABLE 99.PROGRESSIVE CASUALTY INSURANCE CO: COMPANY SNAPSHOT
TABLE 100.PROGRESSIVE CASUALTY INSURANCE CO: PRODUCT PORTFOLIO
TABLE 101.STATE FARM MUTUAL AUTOMOBILE INSURANCE: COMPANY SNAPSHOT
TABLE 102.STATE FARM MUTUAL AUTOMOBILE INSURANCE: PRODUCT PORTFOLIO
TABLE 103.USSA: COMPANY SNAPSHOT
TABLE 104.FIS: PRODUCT PORTFOLIO
LIST OF FIGURES
FIGURE 01.KEY MARKET SEGMENTS
FIGURE 02.TWO-WHEELER INSURANCE MARKET, 2020–2030
FIGURE 03.TWO-WHEELER INSURANCE MARKET, BY REGION, 2019–2027
FIGURE 04.TOP IMPACTING FACTORS
FIGURE 05.TOP INVESTMENT POCKETS
FIGURE 06.TWO-WHEELER INSURANCE MARKET, BY POLICY TYPE, 2020–2030
FIGURE 07.COMPARATIVE SHARE ANALYSIS OF TWO-WHEELER INSURANCE MARKET FOR THIRD-PARTY LIABILITY INSURANCE, BY COUNTRY, 2020 & 2030 (%)
FIGURE 08.COMPARATIVE SHARE ANALYSIS OF TWO-WHEELER INSURANCE MARKET FOR COMPREHENSIVE INSURANCE, BY COUNTRY, 2020 & 2030 (%)
FIGURE 09.TWO-WHEELER INSURANCE MARKET, BY DISTRIBUTION CHANNEL, 2020–2030
FIGURE 10.COMPARATIVE SHARE ANALYSIS OF TWO-WHEELER INSURANCE MARKET FOR INSURANCE AGENTS/BROKERS, BY COUNTRY, 2020 & 2030 (%)
FIGURE 11.COMPARATIVE SHARE ANALYSIS OF TWO-WHEELER INSURANCE MARKET FOR DIRECT RESPONSE/INSURANCE COMPANIES, BY COUNTRY, 2020 & 2030 (%)
FIGURE 12.COMPARATIVE SHARE ANALYSIS OF TWO-WHEELER INSURANCE MARKET FOR BANKS, BY COUNTRY, 2020 & 2030 (%)
FIGURE 13.COMPARATIVE SHARE ANALYSIS OF TWO-WHEELER INSURANCE MARKET FOR OTHERS, BY COUNTRY, 2020 & 2030 (%)
FIGURE 14.TWO-WHEELER INSURANCE MARKET REVENUE, BY VEHICLE AGE, 2019-2027 ($MILLION)
FIGURE 15.COMPARATIVE SHARE ANALYSIS OF TWO-WHEELER INSURANCE MARKET FOR NEW VEHICLE, BY COUNTRY, 2020 & 2030 (%)
FIGURE 16.COMPARATIVE SHARE ANALYSIS OF TWO-WHEELER INSURANCE MARKET FOR USED VEHICLE, BY COUNTRY, 2020 & 2030 (%)
FIGURE 17.U.S. TWO-WHEELER INSURANCE MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 18.CANADA TWO-WHEELER INSURANCE MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 19.GERMANY TWO-WHEELER INSURANCE MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 20.UK TWO-WHEELER INSURANCE MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 21.FRANCE TWO-WHEELER INSURANCE MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 22.ITALY TWO-WHEELER INSURANCE MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 23.SPAIN TWO-WHEELER INSURANCE MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 24.REST OF EUROPE TWO-WHEELER INSURANCE MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 25.CHINA TWO-WHEELER INSURANCE MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 26.JAPAN TWO-WHEELER INSURANCE MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 27.INDIA TWO-WHEELER INSURANCE MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 28.AUSTRALIA TWO-WHEELER INSURANCE MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 29.SOUTH KOREA TWO-WHEELER INSURANCE MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 30.REST OF ASIA-PACIFIC TWO-WHEELER INSURANCE MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 31.LATIN AMERICA TWO-WHEELER INSURANCE MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 32.MIDDLE EAST TWO-WHEELER INSURANCE MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 33.AFRICA TWO-WHEELER INSURANCE MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 34.KEY PLAYER POSITIONING ANLYSIS: GLOBAL TWO-WHEELER INSURANCE MARKET
FIGURE 35.COMPETITIVE DASHBOARD
FIGURE 36.COMPETITIVE DASHBOARD
FIGURE 37.COMPETITIVE HEATMAP OF KEY PLAYERS
FIGURE 38.TOP WINNING STRATEGIES, BY YEAR, 2019-2021
FIGURE 39.TOP WINNING STRATEGIES, BY DEVELOPMENT, 2019-2021
FIGURE 40.TOP WINNING STRATEGIES, BY COMPANY, 2019-2021
FIGURE 41.ACKO GENERAL INSURANCE LIMITED: NET SALES, 2018–2020 ($MILLION)
FIGURE 42.ALLSTATE.: REVENUE, 2018–2020 ($MILLION)
FIGURE 43.ALLSTATE: REVENUE SHARE BY SEGMENT, 2020 (%)
FIGURE 44.PROGRESSIVE CASUALTY INSURANCE CO: NET SALES, 2018–2020 ($MILLION)
Adoption of two-wheeler insurance solutions has increased over the years to help organizations cover liability of owners of vehicles as well as to cover liability of the other person. Furthermore, the type of coverage and amount of premium depends on the type of damage that is being covered by the policy. Some policies even provide property coverage for vehicles that damage surroundings, which is expected to drive growth of the market.
Key providers of the two-wheeler insurance market such as State Farm Mutual Automobile Insurance, GEICO, and Allstate Insurance Company account for a significant share in the market. For instance, in January 2021, Allstate acquired the National General Holdings Corp. The acquisition of National General advanced their strategy of growing personal lines insurance with an increase of 1% point in market share. In addition, independent agents now have more protection offerings for customers, with a strong technology platform creating growth opportunities for them and Allstate. Accident and health business of National General will also further expand Allstate’s circle of protection. Furthermore, many insurance agencies are innovating and improving their two-wheeler premium during the pandemic. For instance, in March 2020, Farmers Insurance announced temporary modification to its Farmers®-branded personal automobile and motorcycle insurance policies to provide applicable coverage for claims arising from the use of these vehicles for delivery of food, groceries, pharmacy, and medical supplies, where they are not otherwise covered. In addition, this temporary modification to farmers-branded policies help extend existing personal auto and motorcycle insurance coverages to a delivery driver while using their personal automobile or motorcycle for delivery of food, groceries, pharmacy, and medical supplies.
Moreover, the two-wheeler industry and insurance providers are collaborating are leveraging solutions from technology providers to improve their insurance policy. For instance, in November 2021, Liberty General Insurance Ltd, one of the leading general insurance companies in India, strengthened its partnership with PhonePe to offer motor insurance digitally. Through PhonePe, Liberty General Insurance’s motor insurance policy provides easy accessibility to the motor insurance cover, especially to the digitally savvy generation. Thus, growing number of such developments across the globe is expected to drive the growth of the market.
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