Bike Insurance Market Scope
Bike insurance is included in two wheeler insurance policy that protects bike against any uncertainty and damages like road accidents, theft, natural disaster, vandalism, etc. There are two categories of bike insurance namely comprehensive insurance and third-party liability insurance. The coverage policy for bike insurance includes collision, medical payments, theft, etc, providing ease of recovering the expenses in different premium rates.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Allianz SE, AXA SA, Zurich Insurance Group AG:, Direct Line Group, Aviva, Admiral Group plc, Ageas, Generali Group, Mapfre SA, Ping An Insurance and Ergo Group |
CAGR | % |
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Bike Insurance market throughout the predicted period.
Allianz SE, AXA SA, Zurich Insurance Group AG:, Direct Line Group, Aviva, Admiral Group plc, Ageas, Generali Group, Mapfre SA, Ping An Insurance and Ergo Group are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Bike Insurance market by Type and Region with country level break-up.
On the basis of geography, the market of Bike Insurance has been segmented into Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
On 23rd July 2020, Amazon Pay, in collaboration with Acko General Insurance, is now offering insurance plans for two and four-wheeler vehicles in India. With this development, Amazon has marked its entry into the vehicle insurance space in the country. The company claims that with the Amazon car and bike insurance policy, customers can purchase an insurance plan in less than two minutes "with no paperwork.
On 20th October 2020, India's first and fastest-growing wholly digital general insurance provider, ACKO has partnered with Finserv MARKETS, a leading fintech aggregator, for offering two and four-wheeler insurance policies. Customers can now buy ACKO Insurance for their car or bike on the Finserv MARKETS platform by providing basic details. In partnership with Finserv MARKETS, ACKO has made the insurance buying experience transparent, intuitive, and effortless. ACKO offers value-added services like hassle-free claims, zero paperwork, one-hour pick-up, 3-day assured claim servicing, and 1-year repair warranty - in select cities.
Influencing Trend:
xxxxxx and xxxxxx
Market Growth Drivers:
Increasing middle-class population in developing countries and xxxx
Challenges:
Stiff Competition in the Bike Insurance Market Due to New Entrants
Restraints:
Stringent Regulatory Guidelines and Standards Regarding Bike Insurance and xxxxx
Opportunities:
xxxxxxx and xxxxxxx
Key Target Audience
Bike Insurance Service Providers, Bike Insurance Industry Association, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others