Scope of the Study
Two-wheeler insurance refer to an insurance policy that is taken to cover the damage to the bike/ scooter or to the rider due to some unforeseen events such as road accidents, natural disaster, and theft or loss of a motor vehicle. Bike insurance essentially provides coverage against any third-party liability that may arise from injuries incurred to one or more individuals in case of an accident. The motorcycle insurance provides cover to the vehicles and cover all uses whether for personal, commercial or mixed purpose.
The market study is being classified by Type (Comprehensive Two-Wheeler Insurance, Third-Party, Fire and Theft, Third-Party Only and Others), by Application (Mopeds, Scooters, Dirt bikes, Customized motorcycles, Sportbikes and Others) and major geographies with country level break-up.
Dai-ichi Mutual Life Insurance (Japan), Farmers Insurance (United States), Allianz SE (Germany), Allstate (United States), Zurich Insurance Group Ltd. (Switzerland), State Farm Insurance (United States), Assicurazioni Generali (Italy), GEICO (United States), Cardinal Health (United States), Munich Re Group (Germany), Aviva (United Kingdom) and AXA (France) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are AAA (United States), Allied Insurance Company (United States) and PingAn (China).
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Motorcycle Insurance market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Motorcycle Insurance market by Type, Application and Region.
On the basis of geography, the market of Motorcycle Insurance has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing Incidence of Accidents Globally
- Government Focus on Accident Insurance
- Development of New Offers and Schemes by Insurance Companies
- Innovation in Motorcycle Insurance Products
- Stringent Government Rules and Regulations
- High Potential Growth in Emerging Countries
- Addition of Attractive Features to the Plans by Insurance Companies
- Longer Time for Claim Reimbursement
Market Leaders and their expansionary development strategies
On February 4, 2020 - Allianz SE has entered into an agreement to form a life insurance joint venture (JV) with AEON Financial Service (AFS) to develop and market life insurance solutions for local customers in Japan. and On November 14, 2019 - Allianz SE and Microsoft Corp. announced a strategic partnership focused on digitally transforming the insurance industry, making the insurance process easier while creating a better experience for insurance companies and their customers. Through the strategic partnership, Allianz will move core pieces of its global insurance platform, Allianz Business System (ABS), to Microsoft’s Azure cloud and will open-source parts of the solution’s core to improve and expand capabilities.
North Carolina motor vehicle law requires all motorcycle and motor scooter operators to purchase liability insurance for their vehicles. A valid insurance card must be kept with the motorcycle or scooter or carried by the operator at all times.
Key Target AudienceMotorcycle Insurance Providers, Automotive Industry, Regulatory Bodies, End-Users, Governmental Agencies, Consulting Firms and Others
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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