Market Overview:
The global traffic accident insurance market is expected to grow at a CAGR of 7.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing number of road accidents and rising awareness about traffic accident insurance among people. Traffic accident insurance is a type of insurance that provides coverage for damages or losses incurred as a result of an automobile collision or other road incident. The market is segmented on the basis of type, application, and region. On the basis of type, the global traffic accident insurance market is segmented into industrial injury medical, work injury allowance, handicapped, death due to work, and others. Industrial injury medical accounted for the largest share in 2017 owing to its wide coverage for various types of injuries sustained in an industrial setting such as slips & falls, burns & scalds etc., followed by work injury allowance which offers benefits such as wage replacement and medical expenses reimbursement post-injury arising out from workplace accidents/injuries . Handicapped was the third-largest segment in terms of revenue in 2017 due to increasing number cases related with disabilities across different geographies globally . Death due to Work was estimated as one percent (1%) share contribution towards total revenue generated by this category during 2017 .
Product Definition:
Traffic accident insurance is a type of automobile insurance that covers the costs of repairing or replacing vehicles involved in traffic accidents. Traffic accident insurance is important because it helps drivers financially recover from accidents, which can be costly.
Industrial Injury Medical:
Industrial Injury Medical is a form of medical insurance that provides coverage for injuries sustained in connection with the performance of duty by an employee or self-employed person. It also covers injuries caused by accidents at work premises, during business trips, and while performing maintenance or repair work at the workplace.
U.S Industrial Injuries Medical Insurance Market Size & Trend Analysis By Age (20 - 64 Years), By Gender (Male & Female) And Segment Forecasts To 2024 -> The U.
Work Injury Allowance:
Work injury allowance is a payment made to an employee by his/her employer as compensation for injuries suffered by the employee in the course of his/her employment. The amount paid depends on various factors including duration of service, nature and severity of injury, medical evidence and witness statements. In some countries such as India, work accident insurance is included with basic salary in the employees package which makes it mandatory for employers to provide this benefit.
Application Insights:
The others application segment accounted for the largest revenue share in 2017 and is expected to witness significant growth over the forecast period. This can be attributed to rising incidences of road accidents across various regions, such as Asia Pacific and Middle East & Africa. For instance, according to a study conducted by WHO, around 1 in 3 deaths occur due to road accidents globally. Also, according to the World Health Organization (WHO), around 60 million people are injured every year due to road traffic crashes globally. Thus increasing number of fatalities and injuries caused by negligence of drivers on roads is driving demand for global traffic accident insurance market by others application segment over the forecast period.
Regional Analysis:
Europe dominated the global traffic accident insurance market in terms of revenue share in 2017. The growth is majorly attributed to Germany, which accounted for more than 50% of the total market. However, Asia Pacific is expected to be the fastest-growing region over a forecast period from 2018 to 2030 owing to increasing number of road accidents and rising awareness about various policies offered by various companies operating in this region. Moreover, growing investments by international players are anticipated to drive demand further. For instance, In January 2016; Allianz invested USD X billion for acquiring a majority stake India General Insurance Corporation Ltd (IGIC).
Growth Factors:
- Increasing awareness about traffic accident insurance and its benefits among the masses.
- Rising number of road accidents due to increasing vehicular traffic and negligence of drivers.
- Growing inclination of people towards risk-free life and investments leading to increased demand for traffic accident insurance policies.
- Proliferation of online insurance selling platforms that offer easy access to a variety of traffic accident insurance policies at competitive rates thus making it more affordable for people to buy such policies.
Scope Of The Report
Report Attributes
Report Details
Report Title
Traffic Accident Insurance Market Research Report
By Type
Industrial Injury Medical, Work Injury Allowance, Handicapped, Death due to Work, Others
By Application
Third Party, Insurance Company, Others
By Companies
ACE Insurance, Achmea, AEGON, Allianz, Anadolu Hayat Emeklilik, Assicurazioni Generali, Assurant, AIA Group, AlfaStrakhovanie, Banamex, Banco Bilbao Vizcaya Argentaria, Banco Bradesco, BNP Paribas Cardif, China Life Insurance Company, China Pacific Insurance, CNP Assurances, Credit Agricole, DZ Bank, Garanti Emeklilik ve Hayat, Great Eastern Holdings, Grupo Nacional Provincial, Hanwha Life Insurance Company, HDFC Standard Life Insurance Company, ICICI Prudential Life Insurance Company
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
205
Number of Tables & Figures
144
Customization Available
Yes, the report can be customized as per your need.
Global Traffic Accident Insurance Market Report Segments:
The global Traffic Accident Insurance market is segmented on the basis of:
Types
Industrial Injury Medical, Work Injury Allowance, Handicapped, Death due to Work, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Third Party, Insurance Company, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- ACE Insurance
- Achmea
- AEGON
- Allianz
- Anadolu Hayat Emeklilik
- Assicurazioni Generali
- Assurant
- AIA Group
- AlfaStrakhovanie
- Banamex
- Banco Bilbao Vizcaya Argentaria
- Banco Bradesco
- BNP Paribas Cardif
- China Life Insurance Company
- China Pacific Insurance
- CNP Assurances
- Credit Agricole
- DZ Bank
- Garanti Emeklilik ve Hayat
- Great Eastern Holdings
- Grupo Nacional Provincial
- Hanwha Life Insurance Company
- HDFC Standard Life Insurance Company
- ICICI Prudential Life Insurance Company
Highlights of The Traffic Accident Insurance Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Industrial Injury Medical
- Work Injury Allowance
- Handicapped
- Death due to Work
- Others
- By Application:
- Third Party
- Insurance Company
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Traffic Accident Insurance Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Traffic accident insurance is a type of insurance that helps cover the costs associated with injuries or property damage you may suffer in a car accident. This coverage can help pay for medical bills, lost wages, and other expenses related to your crash.
Some of the major players in the traffic accident insurance market are ACE Insurance, Achmea, AEGON, Allianz, Anadolu Hayat Emeklilik, Assicurazioni Generali, Assurant, AIA Group, AlfaStrakhovanie, Banamex, Banco Bilbao Vizcaya Argentaria, Banco Bradesco, BNP Paribas Cardif, China Life Insurance Company, China Pacific Insurance, CNP Assurances, Credit Agricole, DZ Bank, Garanti Emeklilik ve Hayat, Great Eastern Holdings, Grupo Nacional Provincial, Hanwha Life Insurance Company, HDFC Standard Life Insurance Company, ICICI Prudential Life Insurance Company.
The traffic accident insurance market is expected to grow at a compound annual growth rate of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Traffic Accident Insurance Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Traffic Accident Insurance Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Traffic Accident Insurance Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Traffic Accident Insurance Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Traffic Accident Insurance Market Size & Forecast, 2020-2028
4.5.1 Traffic Accident Insurance Market Size and Y-o-Y Growth
4.5.2 Traffic Accident Insurance Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Industrial Injury Medical
5.2.2 Work Injury Allowance
5.2.3 Handicapped
5.2.4 Death due to Work
5.2.5 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Third Party
6.2.2 Insurance Company
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Traffic Accident Insurance Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Traffic Accident Insurance Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Industrial Injury Medical
9.6.2 Work Injury Allowance
9.6.3 Handicapped
9.6.4 Death due to Work
9.6.5 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Third Party
9.10.2 Insurance Company
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Industrial Injury Medical
10.6.2 Work Injury Allowance
10.6.3 Handicapped
10.6.4 Death due to Work
10.6.5 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Third Party
10.10.2 Insurance Company
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Industrial Injury Medical
11.6.2 Work Injury Allowance
11.6.3 Handicapped
11.6.4 Death due to Work
11.6.5 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Third Party
11.10.2 Insurance Company
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Industrial Injury Medical
12.6.2 Work Injury Allowance
12.6.3 Handicapped
12.6.4 Death due to Work
12.6.5 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Third Party
12.10.2 Insurance Company
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Industrial Injury Medical
13.6.2 Work Injury Allowance
13.6.3 Handicapped
13.6.4 Death due to Work
13.6.5 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Third Party
13.10.2 Insurance Company
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Traffic Accident Insurance Market: Competitive Dashboard
14.2 Global Traffic Accident Insurance Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ACE Insurance
14.3.2 Achmea
14.3.3 AEGON
14.3.4 Allianz
14.3.5 Anadolu Hayat Emeklilik
14.3.6 Assicurazioni Generali
14.3.7 Assurant
14.3.8 AIA Group
14.3.9 AlfaStrakhovanie
14.3.10 Banamex
14.3.11 Banco Bilbao Vizcaya Argentaria
14.3.12 Banco Bradesco
14.3.13 BNP Paribas Cardif
14.3.14 China Life Insurance Company
14.3.15 China Pacific Insurance
14.3.16 CNP Assurances
14.3.17 Credit Agricole
14.3.18 DZ Bank
14.3.19 Garanti Emeklilik ve Hayat
14.3.20 Great Eastern Holdings
14.3.21 Grupo Nacional Provincial
14.3.22 Hanwha Life Insurance Company
14.3.23 HDFC Standard Life Insurance Company
14.3.24 ICICI Prudential Life Insurance Company
