Market Research Report
Global Motor Vehicle Insurance Market 2016-2020
|Published by||TechNavio (Infiniti Research Ltd.)||Product code||359336|
|Published||Content info||55 Pages
|Global Motor Vehicle Insurance Market 2016-2020|
|Published: May 27, 2016||Content info: 55 Pages||
Motor vehicle insurance policy is the guarantee of compensation provided to a policyholder, wherein the insurer will pay for the repair of accidental damages, theft, or fire (among others) to a third party's property or the insured vehicle.
At the end of 2014, the guaranteed asset protection (GAP) insurance was introduced. It is a supplementary cover taken along with the standard motor insurance policy. It includes certain types of losses that are not covered under the standard policy. For instance, if a person avails GAP insurance, then the insurer will pay the balance loan amount of the vehicle in case of theft or if the automobile is damaged badly. In September 2015, rules proposed by the Financial Conduct Authority (FCA) came into effect; these rules were designed to navigate issues arising from the sales of GAP insurance provided by the motor vehicle industry.
Technavio's analysts forecast the global motor vehicle insurance market to grow at a CAGR of 5.91% during the period 2016-2020.
The report covers the present scenario and the growth prospects of the global motor vehicle insurance market for 2016-2020. To calculate the market size, the report considers two types of end users:
The market is divided into the following segments based on geography:
Technavio's report, Global Motor Vehicle Insurance Market, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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