LATIN AMERICA MOTOR INSURANCE MARKET

INTRODUCTION

Latin America's recent steady rise in economic growth has benefited the insurance industry, as well as a number of other industries. Chile had the highest insurance density in the region, while Venezuela had the lowest.

Life insurance and non-life insurance are the two most common types of insurance in Latin America.The first includes social security and individual and group life insurances;whereas the latter includes, among other insurances, auto, health, and accident.

Brazil had the highest non-life premium volume in Latin America, which meant that the non-life segment represented more than 55% of the market.

The insurance industry has not lagged behind the growing number of new businesses in the financial technology sector

LATIN AMERICA MOTOR INSURANCE MARKET SIZE AND FORECAST

The Latin America 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.

MARKET DYNAMICS

In Latin America, the coronavirus pandemic has increased demand for health insurance products.In response to the rising demand for health insurance in the region, insurtech companies are expanding their product lines to better meet the needs of this market.

Moreover, in the midst of the insurtech blast in the district, firms are forcefully raising assets to scale their foundation and extend their rundown of accomplices in the medical services industry.

By incorporating brand-new technologies and product features, the businesses are enhancing their offerings.

Mexico-based insurtech Guros brought up in the new subsidizing round .F-Prime Capital led the Guros funding round, with contributions from Cometa, Clocktower, and Insurify.

The funds will be used by the company to expand internally across technology, product, and operations, customize APIs for commercial partners in a variety of industries, enter the health insurance market, and improve the capabilities of its platform.

Pier, an insurtech company based in Brazil, raised in its Series B funding round.Pier currently sells insurance by letting customers use their smartphones to get auto insurance coverage.The company is expanding into new market segments, including life insurance, with the newly raised funds.

COMPANY PROFILE

• FINCA Guatemala
• Actinver
• Darwin Seguros
• Arrenda
• Debt Financing - FINCA Guatemala
• CorpServices
• Compareemcasa

THIS REPORT WILL ANSWER FOLLOWING QUESTIONS

1. What is the average cost perLatin America Motor Insurance marketright now and how will it change in the next 5-6 years?
2. Average cost to set up aLatin America Motor Insurance marketin the US, Europe and China?
3. How manyLatin America 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 aLatin America Motor Insurance marketand key vendor selection criteria
6. Where is theLatin America Motor Insurance market manufactured? What is the average margin per equipment?
7. Market share ofLatin America Motor Insurance marketmanufacturers and their upcoming products
8. The most important plannedLatin America Motor Insurance marketin next 2 years
9. Details on network of majorLatin America Motor Insurance marketand pricing plans
10. Cost advantage for OEMs who manufactureLatin America Motor Insurance marketin-house
11. 5 key predictions for next 5 years inLatin America Motor Insurance market
12. Average B-2-BLatin America Motor Insurance marketprice in all segments
13. Latest trends inLatin America Motor Insurance market, by every market segment
14. The market size (both volume and value) ofLatin America Motor Insurance marketin 2022-2030 and every year in between?
15. Global production breakup ofLatin America Motor Insurance market, by suppliers and their OEM relationship