Automotive Insurance Broking & Risk Management Market Size, Share & Trends Analysis Report By Type (Personal Insurance, Commercial Insurance), By Application (Individual Vehicles, Fleet Vehicles), By End-User (Insurance Companies, Brokerage Firms), By Distribution Channel (Direct Sales, Online Platforms, Brokers), By Service Type (Risk Assessment, Claims Management, Policy Administration), By Region, And By Segment Forecasts, 2024-2031.

Report Id: 2726 Pages: 180 Last Updated: 26 September 2024 Format: PDF / PPT / Excel / Power BI
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Segmentation of Automotive Insurance Broking & Risk Management Market-

Automotive Insurance Broking & Risk Management Market By Type-

  • Personal Insurance
  • Commercial Insurance

Automotive Insurance Broking & Risk Management Market seg

Automotive Insurance Broking & Risk Management Market By Application-

  • Individual Vehicles
  • Fleet Vehicles

Automotive Insurance Broking & Risk Management Market By End-User-

  • Insurance Companies
  • Brokerage Firms

Automotive Insurance Broking & Risk Management Market By Distribution Channel-

  • Direct Sales
  • Online Platforms
  • Brokers

Automotive Insurance Broking & Risk Management Market By Service Type-

  • Risk Assessment
  • Claims Management
  • Policy Administration

Automotive Insurance Broking & Risk Management Market By Region-

North America-

  • The US
  • Canada
  • Mexico

Europe-

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific-

  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

 Middle East & Africa-

  • GCC Countries
  • South Africa
  • Rest of the Middle East and Africa

Chapter 1. Methodology and Scope

1.1. Research Methodology

1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Automotive Insurance Broking & Risk Management Market Snapshot

Chapter 4. Global Automotive Insurance Broking & Risk Management Market Variables, Trends & Scope

4.1. Market Segmentation & Scope

4.2. Drivers

4.3. Challenges

4.4. Trends

4.5. Investment and Funding Analysis

4.6. Industry Analysis – Porter’s Five Forces Analysis

4.7. Competitive Landscape & Market Share Analysis

4.8. Impact of Covid-19 Analysis

Chapter 5. Market Segmentation 1: by Type Estimates & Trend Analysis

5.1. by Type & Market Share, 2019 & 2031

5.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Type:

5.2.1. Personal Insurance

5.2.2. Commercial Insurance

Chapter 6. Market Segmentation 2: by Application Estimates & Trend Analysis

6.1. by Application & Market Share, 2019 & 2031

6.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Application:

6.2.1. Individual Vehicles

6.2.2. Fleet Vehicles

Chapter 7. Market Segmentation 3: by End-User Estimates & Trend Analysis

7.1. by End-User & Market Share, 2019 & 2031

7.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by End-User:

7.2.1. Insurance Companies

7.2.2. Brokerage Firms

Chapter 8. Market Segmentation 4: by Distribution Channel Estimates & Trend Analysis

8.1. by Distribution Channel & Market Share, 2019 & 2031

8.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Distribution Channel:

8.2.1. Direct Sales

8.2.2. Online Platforms

8.2.3. Brokers

Chapter 9. Market Segmentation 4: by Service Type Estimates & Trend Analysis

9.1. by Service Type & Market Share, 2019 & 2031

9.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Service Type:

9.2.1. Risk Assessment

9.2.2. Claims Management

9.2.3. Policy Administration

Chapter 10. Automotive Insurance Broking & Risk Management Market Segmentation 5: Regional Estimates & Trend Analysis

10.1. North America

10.1.1. North America Automotive Insurance Broking & Risk Management Market Revenue (US$ Million) Estimates and Forecasts by Type, 2023-2031

10.1.2. North America Automotive Insurance Broking & Risk Management Market Revenue (US$ Million) Estimates and Forecasts by Application, 2023-2031

10.1.3. North America Automotive Insurance Broking & Risk Management Market Revenue (US$ Million) Estimates and Forecasts by End-User, 2023-2031

10.1.4. North America Automotive Insurance Broking & Risk Management Market Revenue (US$ Million) Estimates and Forecasts by Distribution Channel, 2023-2031

10.1.5. North America Automotive Insurance Broking & Risk Management Market Revenue (US$ Million) Estimates and Forecasts by Service Type, 2023-2031

10.1.6. North America Automotive Insurance Broking & Risk Management Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031

10.2. Europe

10.2.1. Europe Automotive Insurance Broking & Risk Management Market Revenue (US$ Million) Estimates and Forecasts by Type, 2023-2031

10.2.2. Europe Automotive Insurance Broking & Risk Management Market Revenue (US$ Million) Estimates and Forecasts by Application, 2023-2031

10.2.3. Europe Automotive Insurance Broking & Risk Management Market Revenue (US$ Million) Estimates and Forecasts by End-User, 2023-2031

10.2.4. Europe Automotive Insurance Broking & Risk Management Market Revenue (US$ Million) Estimates and Forecasts by Distribution Channel, 2023-2031

10.2.5. Europe Automotive Insurance Broking & Risk Management Market Revenue (US$ Million) Estimates and Forecasts by Service Type, 2023-2031

10.2.6. Europe Automotive Insurance Broking & Risk Management Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031

10.3. Asia Pacific

10.3.1. Asia Pacific Automotive Insurance Broking & Risk Management Market Revenue (US$ Million) Estimates and Forecasts by Type, 2023-2031

10.3.2. Asia Pacific Automotive Insurance Broking & Risk Management Market Revenue (US$ Million) Estimates and Forecasts by Application, 2023-2031

10.3.3. Asia-Pacific Automotive Insurance Broking & Risk Management Market Revenue (US$ Million) Estimates and Forecasts by End-User, 2023-2031

10.3.4. Asia-Pacific Automotive Insurance Broking & Risk Management Market Revenue (US$ Million) Estimates and Forecasts by Distribution Channel, 2023-2031

10.3.5. Asia-Pacific Automotive Insurance Broking & Risk Management Market Revenue (US$ Million) Estimates and Forecasts by Service Type, 2023-2031

10.3.6. Asia Pacific Automotive Insurance Broking & Risk Management Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031

10.4. Latin America

10.4.1. Latin America Automotive Insurance Broking & Risk Management Market Revenue (US$ Million) Estimates and Forecasts by Type, 2023-2031

10.4.2. Latin America Automotive Insurance Broking & Risk Management Market Revenue (US$ Million) Estimates and Forecasts by Application, 2023-2031

10.4.3. Latin America Automotive Insurance Broking & Risk Management Market Revenue (US$ Million) Estimates and Forecasts by End-User, 2023-2031

10.4.4. Latin America Automotive Insurance Broking & Risk Management Market Revenue (US$ Million) Estimates and Forecasts by Distribution Channel, 2023-2031

10.4.5. Latin America Automotive Insurance Broking & Risk Management Market Revenue (US$ Million) Estimates and Forecasts by Service Type, 2023-2031

10.4.6. Latin America Automotive Insurance Broking & Risk Management Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031

10.5. Middle East & Africa

10.5.1. Middle East & Africa Automotive Insurance Broking & Risk Management Market Revenue (US$ Million) Estimates and Forecasts by Type, 2023-2031

10.5.2. Middle East & Africa Automotive Insurance Broking & Risk Management Market Revenue (US$ Million) Estimates and Forecasts by Application, 2023-2031

10.5.3. Middle East & Africa Automotive Insurance Broking & Risk Management Market Revenue (US$ Million) Estimates and Forecasts by End-User, 2023-2031

10.5.4. Middle East & Africa Automotive Insurance Broking & Risk Management Market Revenue (US$ Million) Estimates and Forecasts by Distribution Channel, 2023-2031

10.5.5. Middle East & Africa Automotive Insurance Broking & Risk Management Market Revenue (US$ Million) Estimates and Forecasts by Service Type, 2023-2031

10.5.6. Middle East & Africa Automotive Insurance Broking & Risk Management Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031

Chapter 11. Competitive Landscape

11.1. Major Mergers and Acquisitions/Strategic Alliances

11.2. Company Profiles

11.2.1. Maxar Space Systems

11.2.2. Northrop Grumman

11.2.3. Allianz

11.2.4. AXA

11.2.5. Berkshire Hathaway

11.2.6. Chubb

11.2.7. Cigna

11.2.8. Cleveland Insurance

11.2.9. Travelers

11.2.10. Zurich Insurance Group

11.2.11. MetLife

11.2.12. The Hartford

11.2.13. Munich Re

11.2.14. AIG (American International Group)

11.2.15. Prudential

11.2.16. Liberty Mutual

11.2.17. Generali

11.2.18. Aviva

11.2.19. State Farm

11.2.20. Nationwide

11.2.21. Hiscox

11.2.22. Marsh & McLennan

11.2.23. Aon

11.2.24. Willis Towers Watson

11.2.25. CNA Financial

11.2.26. Sompo International

11.2.27. Admiral Group

11.2.28. Other Prominent Players

Research Design and Approach

This study employed a multi-step, mixed-method research approach that integrates:

  • Secondary research
  • Primary research
  • Data triangulation
  • Hybrid top-down and bottom-up modelling
  • Forecasting and scenario analysis

This approach ensures a balanced and validated understanding of both macro- and micro-level market factors influencing the market.

Secondary Research

Secondary research for this study involved the collection, review, and analysis of publicly available and paid data sources to build the initial fact base, understand historical market behaviour, identify data gaps, and refine the hypotheses for primary research.

Sources Consulted

Secondary data for the market study was gathered from multiple credible sources, including:

  • Government databases, regulatory bodies, and public institutions
  • International organizations (WHO, OECD, IMF, World Bank, etc.)
  • Commercial and paid databases
  • Industry associations, trade publications, and technical journals
  • Company annual reports, investor presentations, press releases, and SEC filings
  • Academic research papers, patents, and scientific literature
  • Previous market research publications and syndicated reports

These sources were used to compile historical data, market volumes/prices, industry trends, technological developments, and competitive insights.

Secondary Research

Primary Research

Primary research was conducted to validate secondary data, understand real-time market dynamics, capture price points and adoption trends, and verify the assumptions used in the market modelling.

Stakeholders Interviewed

Primary interviews for this study involved:

  • Manufacturers and suppliers in the market value chain
  • Distributors, channel partners, and integrators
  • End-users / customers (e.g., hospitals, labs, enterprises, consumers, etc., depending on the market)
  • Industry experts, technology specialists, consultants, and regulatory professionals
  • Senior executives (CEOs, CTOs, VPs, Directors) and product managers

Interview Process

Interviews were conducted via:

  • Structured and semi-structured questionnaires
  • Telephonic and video interactions
  • Email correspondences
  • Expert consultation sessions

Primary insights were incorporated into demand modelling, pricing analysis, technology evaluation, and market share estimation.

Data Processing, Normalization, and Validation

All collected data were processed and normalized to ensure consistency and comparability across regions and time frames.

The data validation process included:

  • Standardization of units (currency conversions, volume units, inflation adjustments)
  • Cross-verification of data points across multiple secondary sources
  • Normalization of inconsistent datasets
  • Identification and resolution of data gaps
  • Outlier detection and removal through algorithmic and manual checks
  • Plausibility and coherence checks across segments and geographies

This ensured that the dataset used for modelling was clean, robust, and reliable.

Market Size Estimation and Data Triangulation

Bottom-Up Approach

The bottom-up approach involved aggregating segment-level data, such as:

  • Company revenues
  • Product-level sales
  • Installed base/usage volumes
  • Adoption and penetration rates
  • Pricing analysis

This method was primarily used when detailed micro-level market data were available.

Bottom Up Approach

Top-Down Approach

The top-down approach used macro-level indicators:

  • Parent market benchmarks
  • Global/regional industry trends
  • Economic indicators (GDP, demographics, spending patterns)
  • Penetration and usage ratios

This approach was used for segments where granular data were limited or inconsistent.

Hybrid Triangulation Approach

To ensure accuracy, a triangulated hybrid model was used. This included:

  • Reconciling top-down and bottom-up estimates
  • Cross-checking revenues, volumes, and pricing assumptions
  • Incorporating expert insights to validate segment splits and adoption rates

This multi-angle validation yielded the final market size.

Forecasting Framework and Scenario Modelling

Market forecasts were developed using a combination of time-series modelling, adoption curve analysis, and driver-based forecasting tools.

Forecasting Methods

  • Time-series modelling
  • S-curve and diffusion models (for emerging technologies)
  • Driver-based forecasting (GDP, disposable income, adoption rates, regulatory changes)
  • Price elasticity models
  • Market maturity and lifecycle-based projections

Scenario Analysis

Given inherent uncertainties, three scenarios were constructed:

  • Base-Case Scenario: Expected trajectory under current conditions
  • Optimistic Scenario: High adoption, favourable regulation, strong economic tailwinds
  • Conservative Scenario: Slow adoption, regulatory delays, economic constraints

Sensitivity testing was conducted on key variables, including pricing, demand elasticity, and regional adoption.

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Frequently Asked Questions

Automotive Insurance Broking & Risk Management Market Size is predicted to expand at a 9.56% CAGR during the forecast period for 2024-2031.

Allianz, AXA, Berkshire Hathaway, Chubb, Cigna, Cleveland Insurance, Travelers, Zurich Insurance Group, MetLife, The Hartford, Munich Re, AIG (America

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