CANADA MOTOR INSURANCE MARKET

INTRODUCTION

 If you own a vehicle, you must have auto insurance. Drivers must have at least liability and accident benefits/bodily injury coverage in all Canadian provinces and territories.

A few regions might require extra inclusion.In Quebec, a combination of public and private insurers can provide the insurance.Damage to other people's property or losses (such as death or injury) caused by your vehicle are covered by liability insurance.

Repairs to your own vehicle are not covered by it.

When you are injured in an accident, accident benefits or bodily injury insurance pay for your own medical bills and lost wages.In the event that you collide with another vehicle or object, collision insurance will pay for the repairs or replacement of your vehicle.

The cost of repairing or replacing one’s vehicle in the event of vandalism, fire, or theft is covered by comprehensive insurance.

If one collides with another vehicle or an object,  comprehensive insurance will not cover the loss or damage to your vehicle.

Theft of personal items from vehicles, such as golf clubs, clothing, or electronic devices, is not covered by the majority of auto insurance policies.

Homeowner's or renter's insurance typically covers these damages.Check to see if the loss of personal property from vehicle is covered by the home insurance policy.

CANADA MOTOR INSURANCE MARKET SIZE AND FORECAST

The Canada Motor Insurance market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2022 to 2030.

NEW PRODUCT LAUNCH

Aviva Canada and IMS, a global provider of vehicle and driving data, are launching a new product that will help drivers save money on auto insurance while also improving their safety.

Safe drivers will save a lot of money on insurance with the new Aviva Journey, a telematics solution that can be used on an app.Customers who sign up for the app, which can be downloaded to a smartphone, may be eligible for a 10% discount on their current auto insurance right away.

Innovation from IMS is the key to the usefulness of the Aviva Excursion.

Aviva and IMS had a strong desire to collaborate prior to the launch. This has resulted in a mobile app-based product that is truly sensational and engaging, and it has been well received by their broker partners and customers.

Aviva and IMS also made changes to the app with the goal of creating "an outstanding customer experience," which they did together.

"Due to rapid advancements in the capabilities of mobile telematics,,The customer experience provided by app-based telematics is now truly engaging.

Brokers in Ontario currently distribute Aviva Journey; interested parties can visit the insurer's website for additional information.

COMPANY PROFILE

• The Co-operators
• The Personal Insurance
• Intact Insurance
• Desjardins
•  Belairdirect
• Aviva
• TD Insurance

THIS REPORT WILL ANSWER FOLLOWING QUESTIONS

1. What is the average cost perCanada Motor Insurance marketright now and how will it change in the next 5-6 years?
2. Average cost to set up aMotor Insurance marketin the canada?
3. How manyCanada Motor Insurance marketare manufactured per annum globally? Who are the sub-component suppliers in different regions?
4. What is happening in the overall public, globally?
5. Cost breakup of aCanada Motor Insurance marketand key vendor selection criteria
6. Where is theCanada Motor Insurance market manufactured? What is the average margin per equipment?
7. Market share ofCanada Motor Insurance marketmanufacturers and their upcoming products
8. The most important plannedCanada Motor Insurance marketin next 2 years
9. Details on network of majorCanada Motor Insurance marketand pricing plans
10. Cost advantage for OEMs who manufactureCanada Motor Insurance marketin-house
11. 5 key predictions for next 5 years inCanada Motor Insurance market
12. Average B-2-BCanada Motor Insurance marketprice in all segments
13. Latest trends inCanada Motor Insurance market, by every market segment
14. The market size (both volume and value) ofCanada Motor Insurance marketin 2022-2030 and every year in between?
15. Global production breakup ofCanada Motor Insurance market, by suppliers and their OEM relationship