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Automobile Insurance in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Automobile Insurance Market Research Report | Advisory & Financial Services | Specialist Insurance Lines | Feb 2015

Road to recovery: Providers will benefit from more car purchases and higher interest rates

The Automobile Insurance market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

Report Snapshot
Market Share of Companies
Allstate Insurance Company Allstate Insurance Company market share
Berkshire Hathaway Inc. Berkshire Hathaway Inc. market share
Progressive Progressive market share
State Farm State Farm market share
Zurich Financial Services Group Zurich Financial Services Group market share
Industry Statistics & Market Size
Revenue
$220bn
Annual Growth 10-15
1.9%
Annual Growth 15-20
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Profit
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Employment
277,383
Businesses
1,958
Industry Analysis & Industry Trends

Over the five years to 2020, revenue for the Automobile Insurance industry is forecast to increase as continued improvements in the macroeconomic landscape benefit investment conditions for auto insurers. Given that the majority of auto insurer assets are invested in bonds, forecast increases in interest rates will likely boost investment gains. Despite this trend, consolidation in the industry is expected to continue, with larger operators viewing strategic acquisitions as a lucrative method to expand their share of the market.... purchase to read more

Industry Report - Industry Analysis Chapter

The performance of the Automobile Insurance industry over the five years to 2015 was aided by a hardening insurance market in the latter half of the period and growth in net premiums written for each of its product lines, particularly its liability insurance offerings. During a hard market, insurers focus on shoring up their financial positions and, in doing so, increase premium rates. However, price competition remains a crucial basis of competition within the industry, with the dichotomy of traditional and online-focused discount insurers becoming increasingly important. Moreover, this competitive industry continues to follow the broader insurance sector's consolidation trends, as auto insurers make strategic acquisitions to gain market share... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Automobile Insurance Industry?

This industry underwrites, or assumes the risk and assigns premiums for, auto insurance policies. Car insurance provides financial protection against physical damage to automobiles and bodily injuries resulting from traffic collisions. Automobile insurance can also protect against resulting liability.

Industry Products
Personal liability insurancePersonal collision/comprehensive insuranceCommercial liability insuranceCommercial collision/comprehensive insurance
 
Industry Activities
Directly underwriting private passenger liability insuranceDirectly underwriting private passenger collision/comprehensive insuranceDirectly underwriting commercial liability insuranceDirectly underwriting commercial collision/comprehensive insurance


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