Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Electric Vehicle (EV) Insurance Market Competitive Landscape

Allianz SE, a leading global financial services provider, employs approximately 159,000 individuals, catering to over 122 million customers in 70+ countries. It excels in insurance and asset management, managing EUR 706 billion for insurance customers. With a market-leading position in Germany and a robust international presence, Allianz offers diverse insurance services, including property, life, health, and global business insurance. Additionally, its asset management arms, PIMCO and Allianz Global Investors, oversee about 1.7 trillion euros in third-party assets.

 

Zurich Insurance Group Ltd, a prominent multi-line insurer in electric vehicle (EV) insurance industry, established 150 years ago, operates in over 200 countries. With about 60,000 employees, it offers diverse insurance products and services globally. Apart from traditional coverage, Zurich focuses on innovative insurance solutions and prevention services, emphasising well-being and climate resilience. Serving individuals, small businesses, and large corporations, Zurich is headquartered in Switzerland, where it was founded in 1872.

 

The Travelers Company, Inc., with over 165 years of experience, is a trusted insurance provider offering services for homes, cars, valuables, and businesses. Recognised as a top property casualty insurer, Travelers prioritises customer well-being. Its commitment to innovation and expertise positions it as a leader in personal, business, and speciality insurance. With around 30,000 employees and a vast network of agents, Travelers operates in the United States, Canada, the United Kingdom, and Ireland, ensuring peace of mind for customers.

 

Other electric vehicle (EV) insurance industry players include AXA SA, Liberty Mutual Insurance Company, MAPFRE S.A., American International Group, Inc., Aviva plc, and Lemonade, Inc., among others.

 

Electric Vehicle (EV) Insurance Market Report Snapshots

Electric Vehicle (EV) Insurance Market Size

Electric Vehicle (EV) Insurance Market Growth

Electric Vehicle (EV) Insurance Market Trends

Electric Vehicle (EV) Insurance Market Share

Electric Vehicle (EV) Insurance Companies

Electric Vehicle (EV) Insurance Market Regional Analysis

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

In 2023, the market reached an approximate value of USD 72.8 billion.

The market is projected to grow at a CAGR of 17.3% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 305.9 billion by 2032.

The major market drivers include increased global internet and mobile device usage, growing awareness regarding the importance of electric vehicle insurance, and government initiatives promoting rapid electrification.

The utilisation of advanced technologies for personalised premiums and the rising sales of passenger EVs are the key trends aiding the market.

North America, the Asia Pacific, Europe, Latin America, and the Middle East and Africa, among others, are the major regional markets for electric vehicle (EV) insurance.

The major vehicle types considered in the market report are passenger cars and commercial vehicles.

The key players in the market are Allianz SE, Zurich Insurance Group Ltd., The Travelers Company, Inc., AXA SA, Liberty Mutual Insurance Company, MAPFRE S.A., American International Group, Inc., Aviva plc, and Lemonade, Inc., among others.

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