DUBLIN, June 14, 2016 /PRNewswire/ --

Research and Markets has announced the addition of the "Global Motor Vehicle Insurance Market 2016-2020" report to their offering.

The global motor vehicle insurance market is forecast to grow at a CAGR of 5.91% during the period 2016-2020.

The report covers the present scenario and the growth prospects of the global motor vehicle insurance market for 2016-2020. To calculate the market size, the report considers two types of end users:

• Personal insurance premiums
• Commercial insurance premiums

A trend that is already impacting the market is the implementation of advanced analytics tools to reduce fraudulent claims. According to the National Insurance Crime Bureau (NICB), insurance fraud is the second biggest white-collar crime in the US after tax evasion. Advanced tools, such as big data analytics and geospatial analysis, are making it easier for insurance companies to reduce losses stemming from fraud claim. 

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.

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

Key vendors:

• Allianz
• AIG
• Allstate Insurance
• Berkshire Hathaway
• People's Insurance Company of China
• Ping An Insurance

Key Topics Covered:

PART 01: Executive summary

PART 02: Scope of the report

PART 03: Market research methodology

PART 04: Introduction

PART 05: Market landscape

PART 06: Market segmentation by premium type

PART 07: Geographical segmentation

PART 08: Key leading countries

PART 09: Market drivers

PART 10: Impact of drivers

PART 11: Market challenges

PART 12: Impact of drivers and challenges

PART 13: Market trends

PART 14: Vendor landscape

For more information visit http://www.researchandmarkets.com/research/kd3cxd/global_motor

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SOURCE Research and Markets