What is Named Driver Insurance Market?
Named driver is the person who is insured to drive a vehicle in which another person does most of the driving. This insurance is also called additional driver insurance. While driving the vehicle, the named driver has the same level of cover as the main driver. The named driver car insurance is useful for younger drivers who already face high premiums because of their age and associated risk factor. These younger drivers can add experienced driver in their policy such as parent or guardian. Also, adding a named driver in insurance policy result in a decrease in your annual premium.
The market study is being classified and major geographies with country level break-up.
AXA (France), Allstate Insurance (United States), Berkshire Hathaway (United States), Allianz (Germany), AIG (United States), Generali (Italy), State Farm Insurance (United States), Munich Reinsurance (Germany), Metlife (United States) and Nippon Life Insurance (India) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Ping An (China) and China Life Insurance (China).
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Named Driver Insurance market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Named Driver Insurance market by Type, Application and Region.
On the basis of geography, the market of Named Driver 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.
- Risk Involved While Training is Fuelling the Market Growth
- Increasing Awareness About the Named Driver Insurance
- Introduction of Technology in Insurance Processing
- High Costs Associated with Addition of Inexperienced Driver
- Increasing Number of Accidental Cases
- Growing Number of Sales Channels for Insurance
- Stiff Competition Among the Major Players
Key Target AudienceInsurance provider, Brokers, Government associations, Research organizations and Others
Customization in the Report Available:The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
** Confirmation on availability of data would be informed prior purchase