Dublin, Jan. 27, 2025 (GLOBE NEWSWIRE) — The “United Kingdom Motor Insurance Market, By Region, Competition, Forecast and Opportunities, 2020-2030F” report has been added to ResearchAndMarkets.com’s offering.
The United Kingdom Motor Insurance Market was valued at USD 23.89 Billion in 2024, and is expected to reach USD 31.65 Billion by 2030, rising at a CAGR of 4.80%
Key growth factors include advancements in telematics-based policies, the increasing penetration of electric vehicles (EVs), and rising demand for digital insurance solutions. The private car insurance segment dominates the market, fuelled by high vehicle ownership levels, while commercial vehicle insurance is growing steadily due to expanding e-commerce and delivery services.
Furthermore, the shift towards personalized policies and usage-based insurance reflects changing consumer preferences, creating opportunities for insurers to diversify their offerings. However, market players face challenges such as regulatory compliance, rising claims costs, and competitive pricing pressures. Overall, the market exhibits resilience and adaptability in catering to evolving consumer and technological trends.
Digital Transformation
The motor insurance market is undergoing rapid digitalization, with insurers embracing AI, machine learning, and chatbots to enhance customer experiences and streamline claims processing. Online platforms are becoming the primary mode for policy purchases and renewals.
Integration of Artificial Intelligence (AI)
AI-driven solutions are being used for risk assessment, fraud detection, and customer profiling. Predictive analytics enables insurers to better understand market dynamics and optimize underwriting processes.
Sustainability Initiatives
With increasing environmental concerns, insurers are promoting eco-friendly policies, such as discounts for EV users and partnerships with green repair services. These initiatives align with broader sustainability goals and resonate with environmentally conscious consumers.
Segmental Insights
Policy Type
In the United Kingdom Motor Insurance Market, Comprehensive insurance remains the most sought-after policy type in the UK, accounting for the largest share of the market. It offers extensive protection against damages to the insured vehicle, third-party liability, theft, and natural disasters. This policy type is particularly popular among private vehicle owners and fleet operators seeking robust coverage.
Regional Insights
In the United Kingdom Motor Insurance market, Among the regions in the United Kingdom, England leads the motor insurance market, contributing the highest share to the overall revenue. The dominance of England is attributed to its large population, extensive vehicle ownership, and high urban density, particularly in cities like London, Manchester, and Birmingham. These factors result in higher insurance premiums, driven by elevated risks of accidents and theft. Furthermore, the concentration of business hubs and logistics operations adds to the demand for both personal and commercial motor insurance policies.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 82 |
| Forecast Period | 2024 – 2030 |
| Estimated Market Value (USD) in 2024 | $23.89 Billion |
| Forecasted Market Value (USD) by 2030 | $31.65 Billion |
| Compound Annual Growth Rate | 4.8% |
| Regions Covered | United Kingdom |
Report Scope:
Key Market Players
- Aviva
- The Prudential Assurance Company Limited
- Zurich Assurance Ltd
- DL Insurance Services Limited
- AXA Insurance UK PLC
- General Reinsurance AG
- Allianz Insurance PLC
- Royal & Sun Alliance Insurance PLC
- AGEAS Insurance Limited
- Admiral Group
United Kingdom Motor Insurance Market, By Policy Type:
- Liability Insurance
- Comprehensive Coverage
- Collision Coverage
- Personal Injury Protection
United Kingdom Motor Insurance Market, By Premium Type:
- Personal Insurance Premiums
- Commercial Insurance Premiums
United Kingdom Motor Insurance Market, By Distribution Channel:
- Insurance Agents/Brokers
- Direct Response
- Banks
- Others
United Kingdom Motor Insurance Market, By Region:
- England
- Scotland
- Wales
- Northern Ireland
For more information about this report visit https://www.researchandmarkets.com/r/8rtbbm
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- United Kingdom Motor Insurance Market
