Worldwide Commercial Auto Insurance Industry to 2030 - Featuring Allianz, Aon and Aviva Among Others

DUBLIN, Jan. 17, 2022 /PRNewswire/ -- The "Commercial Auto Insurance Market By Distribution Channel, Coverage Type, and Vehicle Type: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.

Commercial auto insurance is a policy of physical damage and liability coverage for amounts, situations, and usage not covered by a personal auto insurance policy. In addition, it provides a variety of coverage for cars, trucks, vans and other vehicles used for business purposes.

Generally, large fleets and small businesses usually prefers two major coverage such as physical damage insurance and liability insurance coverage. Bodily injury liability, property damage liability, combined single limit (CSL), medical payments, no-fault or personal injury, uninsured motorist, comprehensive physical damage, and collision are some of the major commercial auto insurance coverage in the market.

There is an increase in number of road accidents and commercial auto insurance provides financial security in the form of medical injury or any other damages to the vehicle owner, which promotes the market growth. In addition, increased usage of commercial vehicles and stringent government guidelines regarding commercial auto insurance drives the market growth. These factors notably contribute toward the growth of the global commercial auto insurance market.

However, as commercial vehicles are large in size & incur expensive maintenance, insurance premiums for these vehicles are usually higher which hamper the market growth. On the contrary, rise in number of technological advancements which helps insurers to accommodate distribution platforms in this existing business model to enhance productivity for providing commercial auto insurance coverage seamlessly at the point-of-purchase. In addition, surge in adoption of commercial auto insurance across emerging economies and rapid digitalization in insurance sector are expected to provide lucrative opportunities for the market growth in the coming years.

The commercial auto insurance market is segmented into distribution channel, coverage type, vehicle type, and region. By distribution channel, the market is segmented into brokers & agents, direct response, banks, and others. By coverage type, it is bifurcated into third party liability coverage and collision/comprehensive/optional coverage. Vehicle type covered in the study include light goods vehicle and heavy goods vehicle. The light goods vehicle segment is further segregated into new vehicles and used vehicles. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The report analyzes the top commercial auto insurance companies operating in the market such as Allianz, American International Group Inc., Aon plc., Aviva, AXA, Berkshire Hathaway Inc., Chubb, Liberty Mutual Insurance Company, Willis Towers Watson, and Zurich. These players have adopted various strategies to increase their market penetration and strengthen their position in the commercial auto insurance industry.

Key Benefits 

• The study provides in-depth analysis of the global commercial auto insurance market along with the current trends and future estimations to illustrate the imminent investment pockets.
• Information about key drivers, restrains, & opportunities and their impact analysis on the global commercial auto insurance 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 commercial auto insurance market from 2021 to 2030 is provided to determine the market potential.

Key Topics Covered:

CHAPTER 1: INTRODUCTION

CHAPTER 2: EXECUTIVE SUMMARY

CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key forces shaping global commercial auto insurance market
3.3. Commercial auto claim process
3.4. Range of commercial auto insurance premium paid by small businesses
3.5. Factors contributing to rising claims and loss frequency
3.6. Impact of government regulations on the global commercial auto insurance market
3.7. Market dynamics
3.7.1. Drivers
3.7.1.1. Stringent government guidelines regarding commercial auto insurance
3.7.1.2. Increasing number of road accidents
3.7.1.3. Increased usage of commercial vehicles
3.7.2. Restraint
3.7.2.1. Expensive commercial auto insurance policies
3.7.3. Opportunity
3.7.3.1. Implementation of technology in the field of commercial auto insurance
3.8. COVID-19 impact analysis on commercial auto insurance market
3.8.1. Impact on commercial auto insurance market size
3.8.2. Change in consumer trends, preferences, and budget impact, owing to COVID-19
3.8.3. Framework for market challenges faced by commercial auto insurance providers
3.8.4. Economic impact on commercial auto insurance providers
3.8.5. Key player strategies to tackle negative impact on the industry
3.8.6. Opportunity analysis for commercial auto insurance providers

CHAPTER 4: COMMERCIAL AUTO INSURANCE MARKET, BY DISTRIBUTION CHANNEL
4.1. Overview
4.2. Brokers & Agents
4.2.1. Key market trends, growth factors, and opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market analysis, by country
4.3. Direct Response
4.3.1. Key market trends, growth factors, and opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market analysis, by country
4.4. Banks
4.4.1. Key market trends, growth factors, and opportunities
4.4.2. Market size and forecast, by region
4.4.3. Market analysis, by country
4.5. Others
4.5.1. Key market trends, growth factors, and opportunities
4.5.2. Market size and forecast, by region
4.5.3. Market analysis, by country

CHAPTER 5: COMMERCIAL AUTO INSURANCE MARKET, BY COVERAGE TYPE
5.1. Overview
5.2. Third Party Liability Coverage
5.2.1. Key market trends, growth factors, and opportunities
5.2.2. Market size and forecast, by region
5.2.3. Market analysis, by country
5.3. Collision/Comprehensive/Optional Coverage
5.3.1. Key market trends, growth factors, and opportunities
5.3.2. Market size and forecast, by region
5.3.3. Market analysis, by country

CHAPTER 6: COMMERCIAL AUTO INSURANCE MARKET, BY VEHICLE TYPE
6.1. Overview
6.2. Light Goods Vehicle
6.2.1. Key market trends, growth factors, and opportunities
6.2.2. Market size and forecast, by region
6.2.3. Market analysis, by country
6.2.4. Commercial auto insurance market for light goods vehicle, by vehicle age
6.2.4.1. New Vehicles
6.2.4.1.1. Market size and forecast, by region
6.2.4.1.2. Market analysis, by country
6.2.4.2. Used Vehicles
6.2.4.2.1. Market size and forecast, by region
6.2.4.2.2. Market analysis, by country
6.3. Heavy Goods Vehicle
6.3.1. Key market trends, growth factors, and opportunities
6.3.2. Market size and forecast, by region
6.3.3. Market analysis, by country

CHAPTER 7: COMMERCIAL AUTO INSURANCE MARKET, BY REGION

CHAPTER 8: COMPETITIVE LANDSCAPE
8.1. Introduction
8.1.1. Market player positioning, 2020
8.2. Competitive dashboard
8.2.1. Top winning strategies

CHAPTER 9: COMPANY PROFILES
9.1. ALLIANZ
9.1.1. Company overview
9.1.2. Company snapshot
9.1.3. Operating business segments
9.1.4. Product portfolio
9.1.5. Business performance
9.1.6. Key strategic moves and developments
9.2. AMERICAN INTERNATIONAL GROUP, INC.
9.2.1. Company overview
9.2.2. Company snapshot
9.2.3. Product portfolio
9.2.4. Business performance
9.2.5. Key strategic moves and developments
9.3. AON PLC
9.3.1. Company overview
9.3.2. Company snapshot
9.3.3. Operating business segments
9.3.4. Product portfolio
9.3.5. Business performance
9.3.6. Key strategic moves and developments
9.4. AVIVA
9.4.1. Company overview
9.4.2. Company snapshot
9.4.3. Product portfolio
9.4.4. Business performance
9.5. AXA
9.5.1. Company overview
9.5.2. Company snapshot
9.5.3. Operating business segments
9.5.4. Product portfolio
9.5.5. Business performance
9.5.6. Key strategic moves and developments
9.6. BERKSHIRE HATHAWAY INC.
9.6.1. Company overview
9.6.2. Company snapshot
9.6.3. Operating business segments
9.6.4. Product portfolio
9.6.5. Business performance
9.6.6. Key strategic moves and developments
9.7. CHUBB
9.7.1. Company overview
9.7.2. Company snapshot
9.7.3. Operating business segments
9.7.4. Product portfolio
9.7.5. Business performance
9.7.6. Key strategic moves and developments
9.8. LIBERTY MUTUAL INSURANCE COMPANY
9.8.1. Company overview
9.8.2. Company snapshot
9.8.3. Product portfolio
9.8.4. Business performance
9.8.5. Key strategic moves and developments
9.9. WILLIS TOWERS WATSON
9.9.1. Company overview
9.9.2. Company snapshot
9.9.3. Product portfolio
9.9.4. Business performance
9.9.5. Key strategic moves and developments
9.10. ZURICH
9.10.1. Company overview
9.10.2. Company snapshot
9.10.3. Product portfolio
9.10.4. Business performance

For more information about this report visit https://www.researchandmarkets.com/r/rvdfpl

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