EV Insurance Market By Coverage, By Distribution Channel, By Vehicle Age, By Application : Global Opportunity Analysis and Industry Forecast, 2021-2031

Description

List of Tables

EV insurance is a contract in which an insurer indemnifies another against losses from specific contingencies or perils. It helps to protect the insured person and their vehicle against financial loss. In general, there are many types of insurance policies. Life, health, homeowners, and auto are the most common forms of insurance. EV insurance policy offers financial protection to the vehicle against liabilities such as accidental damage, fire, natural calamities, riots, theft of the insured vehicle and third-party injuries or damages to their property.

The spread of internet access to every corner of the globe has resulted in a surge in the online segment which has facilitated a rapid growth prospect for the EV insurance. In the twenty-first century, smartphones have also become an indispensable part of many people's lives. The increasing use of devices such as smartphones and tablets, as well as access to the internet via 4G, 5G, and other technologies, has accelerated the adoption of digital technology. Moreover, Surge in demand for EV vehicle insurance and several instances of electric bikes and cars catching fire have come to light in recent months but there is no stopping this vehicle segment from picking up speed. Though it is still at a nascent stage therefore, general insurance companies are turning their attention to the segment, recognizing its growing potential. Therefore, these are some of the factors that propel the growth of EV insurance market. However, enforcement of strong rules by banks and financial institutions for providing vehicle finance has put up a strong restriction. This restriction has been implemented by a number of banks and financial service providers to offer car finance services, which restricts the growth of the market across the globe. On the contrary, there has been a significant increase in the awareness about the importance of insurance policies among the customers. Many banks and financial institutions, can leverage on this opportunity by offering various types of EV vehicle insurance policies to the customers.

The EV insurance market is segmented on the basis of coverage, distribution channel, vehicle age, application, and region. By coverage, it is segmented into first party liability coverage, third party liability coverage, and others. By distribution channel, it is bifurcated into, insurance companies, banks, insurance agents/ brokers, and others. On the basis of vehicle age, the EV insurance market is segmented into new vehicle and used vehicle. By application, it is segmented into personal and commercial. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The report analyzes the profiles of key players operating in the EV insurance market such as ACKO General Insurance Limited, Allianz SE, Allstate Insurance Company, AXA, Bajaj Allianz General Insurance Company, Beinsure Digital Media, Esure, HDFC ERGO, Lemonade, Inc., Progressive Casualty Insurance Company. These players have adopted various strategies to increase their market penetration and strengthen their position in the EV insurance industry.

Key benefits for stakeholders

The study provides in-depth analysis of the global loan management software market along with the current & future trends to illustrate the imminent investment pockets.
Information about key drivers, restrains, & opportunities and their impact analysis on the global loan management software market size are provided in the report.
Porter's five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
The quantitative analysis of the global loan management software market from 2022 to 2031 is provided to determine the market potential.

Key Market Segments

By Coverage

First Party Liability Coverage
Third Party Liability Coverage
Others

By Distribution Channel

Insurance Companies
Banks
Insurance Agents/ Brokers
Others

By Vehicle Age

New Vehicle
Used Vehicle

By Application

Personal
Commercial

By Region

North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
LAMEA
- Latin America
- Middle East
- Africa

Key Market Players

Beinsure Digital Media
Allianz SE
Allstate Insurance Company
AXA
Esure Group plc
HDFC ERGO
Progressive Casualty Insurance Company
ACKO GENERAL INSURANCE LIMITED
Lemonade, Inc.
Bajaj Allianz General Insurance Company

Product Code: A47384

CHAPTER 1: INTRODUCTION

1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
- 1.4.1. Primary research
- 1.4.2. Secondary research
- 1.4.3. Analyst tools and models

CHAPTER 2: EXECUTIVE SUMMARY

2.1. CXO Perspective

CHAPTER 3: MARKET OVERVIEW

3.1. Market definition and scope
3.2. Key findings
- 3.2.1. Top impacting factors
- 3.2.2. Top investment pockets
3.3. Porter's five forces analysis
- 3.3.1. Moderate bargaining power of suppliers
- 3.3.2. High bargaining power of buyers
- 3.3.3. High threat of substitutes
- 3.3.4. High threat of new entrants
- 3.3.5. High intensity of rivalry
3.4. Market dynamics
- 3.4.1. Drivers
  - 3.4.1.1. Rise in penetration of internet & mobile devices across the world
  - 3.4.1.2. Surge in demand for EV vehicle insurance
- 3.4.2. Restraints
  - 3.4.2.1. Enforcement of strong rules by banks and financial institutions for providing car finance
  - 3.4.2.2. Prices of EV vehicles are expensive
- 3.4.3. Opportunities
  - 3.4.3.1. Growth in demand for EV insurance policies
3.5. COVID-19 Impact Analysis on the market

CHAPTER 4: EV INSURANCE MARKET, BY COVERAGE

4.1. Overview
- 4.1.1. Market size and forecast
4.2. First Party Liability Coverage
- 4.2.1. Key market trends, growth factors and opportunities
- 4.2.2. Market size and forecast, by region
- 4.2.3. Market share analysis by country
4.3. Third Party Liability Coverage
- 4.3.1. Key market trends, growth factors and opportunities
- 4.3.2. Market size and forecast, by region
- 4.3.3. Market share analysis by country
4.4. Others
- 4.4.1. Key market trends, growth factors and opportunities
- 4.4.2. Market size and forecast, by region
- 4.4.3. Market share analysis by country

CHAPTER 5: EV INSURANCE MARKET, BY DISTRIBUTION CHANNEL

5.1. Overview
- 5.1.1. Market size and forecast
5.2. Insurance Companies
- 5.2.1. Key market trends, growth factors and opportunities
- 5.2.2. Market size and forecast, by region
- 5.2.3. Market share analysis by country
5.3. Banks
- 5.3.1. Key market trends, growth factors and opportunities
- 5.3.2. Market size and forecast, by region
- 5.3.3. Market share analysis by country
5.4. Insurance Agents/ Brokers
- 5.4.1. Key market trends, growth factors and opportunities
- 5.4.2. Market size and forecast, by region
- 5.4.3. Market share analysis by country
5.5. Others
- 5.5.1. Key market trends, growth factors and opportunities
- 5.5.2. Market size and forecast, by region
- 5.5.3. Market share analysis by country

CHAPTER 6: EV INSURANCE MARKET, BY VEHICLE AGE

6.1. Overview
- 6.1.1. Market size and forecast
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 share 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 share analysis by country

CHAPTER 7: EV INSURANCE MARKET, BY APPLICATION

7.1. Overview
- 7.1.1. Market size and forecast
7.2. Personal
- 7.2.1. Key market trends, growth factors and opportunities
- 7.2.2. Market size and forecast, by region
- 7.2.3. Market share analysis by country
7.3. Commercial
- 7.3.1. Key market trends, growth factors and opportunities
- 7.3.2. Market size and forecast, by region
- 7.3.3. Market share analysis by country

CHAPTER 8: EV INSURANCE MARKET, BY REGION

8.1. Overview
- 8.1.1. Market size and forecast By Region
8.2. North America
- 8.2.1. Key trends and opportunities
- 8.2.2. Market size and forecast, by Coverage
- 8.2.3. Market size and forecast, by Distribution Channel
- 8.2.4. Market size and forecast, by Vehicle Age
- 8.2.5. Market size and forecast, by Application
- 8.2.6. Market size and forecast, by country
  - 8.2.6.1. U.S.
  - 8.2.6.1.1. Key market trends, growth factors and opportunities
  - 8.2.6.1.2. Market size and forecast, by Coverage
  - 8.2.6.1.3. Market size and forecast, by Distribution Channel
  - 8.2.6.1.4. Market size and forecast, by Vehicle Age
  - 8.2.6.1.5. Market size and forecast, by Application
  - 8.2.6.2. Canada
  - 8.2.6.2.1. Key market trends, growth factors and opportunities
  - 8.2.6.2.2. Market size and forecast, by Coverage
  - 8.2.6.2.3. Market size and forecast, by Distribution Channel
  - 8.2.6.2.4. Market size and forecast, by Vehicle Age
  - 8.2.6.2.5. Market size and forecast, by Application
8.3. Europe
- 8.3.1. Key trends and opportunities
- 8.3.2. Market size and forecast, by Coverage
- 8.3.3. Market size and forecast, by Distribution Channel
- 8.3.4. Market size and forecast, by Vehicle Age
- 8.3.5. Market size and forecast, by Application
- 8.3.6. Market size and forecast, by country
  - 8.3.6.1. UK
  - 8.3.6.1.1. Key market trends, growth factors and opportunities
  - 8.3.6.1.2. Market size and forecast, by Coverage
  - 8.3.6.1.3. Market size and forecast, by Distribution Channel
  - 8.3.6.1.4. Market size and forecast, by Vehicle Age
  - 8.3.6.1.5. Market size and forecast, by Application
  - 8.3.6.2. Germany
  - 8.3.6.2.1. Key market trends, growth factors and opportunities
  - 8.3.6.2.2. Market size and forecast, by Coverage
  - 8.3.6.2.3. Market size and forecast, by Distribution Channel
  - 8.3.6.2.4. Market size and forecast, by Vehicle Age
  - 8.3.6.2.5. Market size and forecast, by Application
  - 8.3.6.3. France
  - 8.3.6.3.1. Key market trends, growth factors and opportunities
  - 8.3.6.3.2. Market size and forecast, by Coverage
  - 8.3.6.3.3. Market size and forecast, by Distribution Channel
  - 8.3.6.3.4. Market size and forecast, by Vehicle Age
  - 8.3.6.3.5. Market size and forecast, by Application
  - 8.3.6.4. Italy
  - 8.3.6.4.1. Key market trends, growth factors and opportunities
  - 8.3.6.4.2. Market size and forecast, by Coverage
  - 8.3.6.4.3. Market size and forecast, by Distribution Channel
  - 8.3.6.4.4. Market size and forecast, by Vehicle Age
  - 8.3.6.4.5. Market size and forecast, by Application
  - 8.3.6.5. Spain
  - 8.3.6.5.1. Key market trends, growth factors and opportunities
  - 8.3.6.5.2. Market size and forecast, by Coverage
  - 8.3.6.5.3. Market size and forecast, by Distribution Channel
  - 8.3.6.5.4. Market size and forecast, by Vehicle Age
  - 8.3.6.5.5. Market size and forecast, by Application
  - 8.3.6.6. Rest of Europe
  - 8.3.6.6.1. Key market trends, growth factors and opportunities
  - 8.3.6.6.2. Market size and forecast, by Coverage
  - 8.3.6.6.3. Market size and forecast, by Distribution Channel
  - 8.3.6.6.4. Market size and forecast, by Vehicle Age
  - 8.3.6.6.5. Market size and forecast, by Application
8.4. Asia-Pacific
- 8.4.1. Key trends and opportunities
- 8.4.2. Market size and forecast, by Coverage
- 8.4.3. Market size and forecast, by Distribution Channel
- 8.4.4. Market size and forecast, by Vehicle Age
- 8.4.5. Market size and forecast, by Application
- 8.4.6. Market size and forecast, by country
  - 8.4.6.1. China
  - 8.4.6.1.1. Key market trends, growth factors and opportunities
  - 8.4.6.1.2. Market size and forecast, by Coverage
  - 8.4.6.1.3. Market size and forecast, by Distribution Channel
  - 8.4.6.1.4. Market size and forecast, by Vehicle Age
  - 8.4.6.1.5. Market size and forecast, by Application
  - 8.4.6.2. Japan
  - 8.4.6.2.1. Key market trends, growth factors and opportunities
  - 8.4.6.2.2. Market size and forecast, by Coverage
  - 8.4.6.2.3. Market size and forecast, by Distribution Channel
  - 8.4.6.2.4. Market size and forecast, by Vehicle Age
  - 8.4.6.2.5. Market size and forecast, by Application
  - 8.4.6.3. India
  - 8.4.6.3.1. Key market trends, growth factors and opportunities
  - 8.4.6.3.2. Market size and forecast, by Coverage
  - 8.4.6.3.3. Market size and forecast, by Distribution Channel
  - 8.4.6.3.4. Market size and forecast, by Vehicle Age
  - 8.4.6.3.5. Market size and forecast, by Application
  - 8.4.6.4. Australia
  - 8.4.6.4.1. Key market trends, growth factors and opportunities
  - 8.4.6.4.2. Market size and forecast, by Coverage
  - 8.4.6.4.3. Market size and forecast, by Distribution Channel
  - 8.4.6.4.4. Market size and forecast, by Vehicle Age
  - 8.4.6.4.5. Market size and forecast, by Application
  - 8.4.6.5. South Korea
  - 8.4.6.5.1. Key market trends, growth factors and opportunities
  - 8.4.6.5.2. Market size and forecast, by Coverage
  - 8.4.6.5.3. Market size and forecast, by Distribution Channel
  - 8.4.6.5.4. Market size and forecast, by Vehicle Age
  - 8.4.6.5.5. Market size and forecast, by Application
  - 8.4.6.6. Rest of Asia-Pacific
  - 8.4.6.6.1. Key market trends, growth factors and opportunities
  - 8.4.6.6.2. Market size and forecast, by Coverage
  - 8.4.6.6.3. Market size and forecast, by Distribution Channel
  - 8.4.6.6.4. Market size and forecast, by Vehicle Age
  - 8.4.6.6.5. Market size and forecast, by Application
8.5. LAMEA
- 8.5.1. Key trends and opportunities
- 8.5.2. Market size and forecast, by Coverage
- 8.5.3. Market size and forecast, by Distribution Channel
- 8.5.4. Market size and forecast, by Vehicle Age
- 8.5.5. Market size and forecast, by Application
- 8.5.6. Market size and forecast, by country
  - 8.5.6.1. Latin America
  - 8.5.6.1.1. Key market trends, growth factors and opportunities
  - 8.5.6.1.2. Market size and forecast, by Coverage
  - 8.5.6.1.3. Market size and forecast, by Distribution Channel
  - 8.5.6.1.4. Market size and forecast, by Vehicle Age
  - 8.5.6.1.5. Market size and forecast, by Application
  - 8.5.6.2. Middle East
  - 8.5.6.2.1. Key market trends, growth factors and opportunities
  - 8.5.6.2.2. Market size and forecast, by Coverage
  - 8.5.6.2.3. Market size and forecast, by Distribution Channel
  - 8.5.6.2.4. Market size and forecast, by Vehicle Age
  - 8.5.6.2.5. Market size and forecast, by Application
  - 8.5.6.3. Africa
  - 8.5.6.3.1. Key market trends, growth factors and opportunities
  - 8.5.6.3.2. Market size and forecast, by Coverage
  - 8.5.6.3.3. Market size and forecast, by Distribution Channel
  - 8.5.6.3.4. Market size and forecast, by Vehicle Age
  - 8.5.6.3.5. Market size and forecast, by Application

CHAPTER 9: COMPETITIVE LANDSCAPE

9.1. Introduction
9.2. Top winning strategies
9.3. Product Mapping of Top 10 Player
9.4. Competitive Dashboard
9.5. Competitive Heatmap
9.6. Top player positioning, 2021

CHAPTER 10: COMPANY PROFILES

10.1. ACKO GENERAL INSURANCE LIMITED
- 10.1.1. Company overview
- 10.1.2. Key Executives
- 10.1.3. Company snapshot
- 10.1.4. Operating business segments
- 10.1.5. Product portfolio
- 10.1.6. Key strategic moves and developments
10.2. Allianz SE
- 10.2.1. Company overview
- 10.2.2. Key Executives
- 10.2.3. Company snapshot
- 10.2.4. Operating business segments
- 10.2.5. Product portfolio
- 10.2.6. Business performance
10.3. Allstate Insurance Company
- 10.3.1. Company overview
- 10.3.2. Key Executives
- 10.3.3. Company snapshot
- 10.3.4. Operating business segments
- 10.3.5. Product portfolio
- 10.3.6. Business performance
10.4. AXA
- 10.4.1. Company overview
- 10.4.2. Key Executives
- 10.4.3. Company snapshot
- 10.4.4. Operating business segments
- 10.4.5. Product portfolio
- 10.4.6. Business performance
- 10.4.7. Key strategic moves and developments
10.5. Bajaj Allianz General Insurance Company
- 10.5.1. Company overview
- 10.5.2. Key Executives
- 10.5.3. Company snapshot
- 10.5.4. Operating business segments
- 10.5.5. Product portfolio
10.6. Beinsure Digital Media
- 10.6.1. Company overview
- 10.6.2. Key Executives
- 10.6.3. Company snapshot
- 10.6.4. Operating business segments
- 10.6.5. Product portfolio
10.7. Esure Group plc
- 10.7.1. Company overview
- 10.7.2. Key Executives
- 10.7.3. Company snapshot
- 10.7.4. Operating business segments
- 10.7.5. Product portfolio
10.8. HDFC ERGO
- 10.8.1. Company overview
- 10.8.2. Key Executives
- 10.8.3. Company snapshot
- 10.8.4. Operating business segments
- 10.8.5. Product portfolio
10.9. Lemonade, Inc.
- 10.9.1. Company overview
- 10.9.2. Key Executives
- 10.9.3. Company snapshot
- 10.9.4. Operating business segments
- 10.9.5. Product portfolio
- 10.9.6. Business performance
- 10.9.7. Key strategic moves and developments
10.10. Progressive Casualty Insurance Company
- 10.10.1. Company overview
- 10.10.2. Key Executives
- 10.10.3. Company snapshot
- 10.10.4. Operating business segments
- 10.10.5. Product portfolio
- 10.10.6. Business performance