According to the report, a key growth driver is the mandate to buy insurance policies. A motor vehicle insurance covers any financial risk that can crop up while driving the vehicle. In other words, an insurance company will cover losses arising from theft, damages, or accidents if such incidents are covered under the policy. In India, the Motor Vehicles Act specifies that all vehicles should have an insurance policy, or a third party liability cover. A third party insurance policy will cover the financial losses incurred in case of an accident, and may or may not cover the losses arising from damages sustained by the owner’s car.

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Further, the report states that one challenge that could restrict market growth is the risk variables in the underwriting process.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors in the report global miscellaneous motor vehicle insurance market

Key vendors 
 Allianz
 AIG
 Allstate Insurance
 Berkshire Hathaway
 Peoples Insurance Company of China
 Ping An Insurance

Other prominent vendors 
 AXA
 Munich Re
 Zurich 
 
 
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Market driver 
 Mandate to buy insurance
 For a full, detailed list, view our report

Market challenge 
 Fraudulent motor vehicle claims
 For a full, detailed list, view our report

Market trend 
 Implementation of advanced analytics tools to reduce fraudulent claims 
 For a full, detailed list, view our report 
 
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Key questions answered in this report 
 What will the market size be in 2020 and what will the growth rate be?
 What are the key market trends?
 What is driving this market?
 What are the challenges to market growth?
 Who are the key vendors in this market space?
 What are the market opportunities and threats faced by the key vendors?
 What are the strengths and weaknesses of the key vendors?
 
Continuie……..

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