Allied Market Research

2024

Women-only Drivers Insurance Market

Women-Only Drivers Insurance Market Size, Share, Competitive Landscape and Trend Analysis Report by Type and by End user : Global Opportunity Analysis and Industry Forecast, 2023-2032

BI : Insurance

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Author's: | Onkar Sumant
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Massive demand for driving vehicles among females across the globe is leading women-only drivers insurance market growth, and is expected to grow considerably in next few years. A women-only drivers insurance provides easier and effective coverages, which further allows women to get car insurances. In addition, car insurance acts as an immediate rescue for women at the time of emergency situations such as late-night hours and car break down at odd hours. Furthermore, women-only drivers insurance provides extra benefits over normal car insurance such as hotel accommodation at odd hours and car towing facility. 

The women-only drivers insurance market is segmented on the basis of type, applications, end user, and region. On the basis of type, it is categorized into new car and used car. On the basis of applications, it is divided into insurance intermediaries, insurance company, bank and others. On the basis of industrial vertical, it is classified into companies and individuals. On the basis of region, it is studied across North America (U.S. and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia Pacific (China, Japan, India, and the Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of LATAM) and The Middle East and Africa.

The key player covered in the women-only drivers insurance market share are AIA Group Ltd, American International Group, Inc., Allianz, AXA, Berkshire Hathaway Inc., Tata AIG General Insurance Company Limited, China Life Insurance Company Limited, Munich Reinsurance America, Inc., State Farm Mutual Automobile Insurance.

Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis:

Rise in demand for motor vehicles among women, increase in awareness regarding women-only drivers insurance, and surge in need for protection against risk of theft & damages are some of the major factors that propel growth of the global women-only drivers insurance market size. However, discrimination in price of insurance on the basis of gender and rise in prices of insurance are factors that hamper the market growth. Contrarily, increase in independency of women, advancements in motor vehicles, and easy availability of car loans are some of factors expected to provide lucrative opportunities for the global women-only drivers insurance market in the upcoming years.

The global women-only drivers insurance market trends are as follows:

Surge in number of female drivers

Growth in awareness toward women empowerment and independency on financial terms have led to increase in number of female drivers in the market. In addition, several insurers are providing tailor made policies for lady drivers, which provides special benefits such as no-claims bonus discount of up to 75%, fast repair support, and 24 hours personal assistance via online platforms. Therefore, these have become some of the major growth factors that fuel growth of female drivers in the market.

Increase in preference for female drivers

Huge number of females are largely preferring lady drivers to avoid harassment cases, enhance safety measures during rides, and experience low risk while travelling. These factors, therefore, accompanying growth toward preferences of female drivers, which further propels the market growth. 

Covid-19 Scenario Analysis:

  • COVID-19 has a severe impact on the women-only drivers insurance market, owing to global fear of virus and unprecedented travel restrictions, which has tremendously reduced demand for travel services.
  • On the contrary, during the COVID-19 pandemic situation, insurers are expected to have several opportunities such as to develop existing coverages of women-only drivers, include other health crisis, and change their policies during the pandemic situation. 

Key benefits of the report:

  • This study presents analytical depiction of the global women-only drivers insurance market along with the current trends and future estimations to determine the imminent investment pockets.    
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.     
  • The current market is quantitatively analyzed to highlight the global women-only drivers insurance market growth scenario.         
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.    
  • The report provides a detailed market analysis based on the present and future competitive intensity of the market. 

Questions answered in the research report:

  • Who are the leading market players active in the global women-only drivers insurance market?
  • What would be the detailed impact of COVID-19 on the global market?
  • What current trends would influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the global women-only drivers insurance market?
  • What are the projections for the future that would help in taking further strategic steps?

Women-Only Drivers Insurance Market Report Highlights

Aspects Details
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By Type
  • New Car
  • Used Car
  • Application
  • Insurance intermediaries
  • Insurance company
  • Bank
  • Others
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By End user
  • Companies
  • Individuals
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (UK, Germany, France, Spain, Italy, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
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Key Market Players

American International Group, Inc., Allianz, Nippon Life Insurance Company., Tata AIG General Insurance Company Limited, AXA, Munich Reinsurance America, Inc., State Farm Mutual Automobile Insurance, AIA Group Ltd, China Life Insurance Company Limited, Berkshire Hathaway Inc.

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Women-Only Drivers Insurance Market

Global Opportunity Analysis and Industry Forecast, 2023-2032