PHILIPPINES MOTOR INSURANCE MARKET

INTRODUCTION

Vehicles owned by consumers are financially protected by motor insurance, a sort of insurance coverage. Financial protection is offered for the policyholder's automobile or two-wheeler against losses due to accidents and other dangers.

It shields you from legal responsibility in the event of a collision, along with your car and other drivers. It offers monetary compensation for any harm brought to persons or their property.

TPL stands for "third party liability," although in the Philippines, it is also sometimes used to refer to mandatory third party liability insurance. TPL protects you from obligations in the event of an accident that injures or kills a third party, as the name suggests.

PHILIPPINES MOTOR INSURANCE MARKET SIZE AND FORECAST

The Philippines 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

A cutting-edge new product has made it possible for low-income families in the Philippines to obtain reasonably priced accident insurance.

According to The Philippine Star, regional fintech company TrueMoney has joined together with local insurer Bankers Assurance Corp to introduce the "Tunay Mag-alaga," an accident plan designed exclusively for low-income households.

An accident-related loss of life (accidental death) or bodily injury (medical reimbursement) is covered by the Tunay Mag-alaga insurance. For a premium of just PHP 25, the microinsurance plan will offer policyholders three months of accident coverage, with the option to extend the plan to four, six, or twelve months.

A large percentage of Filipinos lack accident insurance. Consequently, many families experience financial hardship as a result of an accident because of the unanticipated costs related to the disaster, in addition to the grief and mental weight.

COMPANY PROFILE

• Carmax.
• Carmix.
• Automobilico.
• All Cars.
• Five Aces.
• Berylle Car Sales.

THIS REPORT WILL ANSWER FOLLOWING QUESTIONS

1. What is the average cost perPhilippines motor insurance market  right now and how will it change in the next 5-6 years?
2. Average cost to set up amotor insurance market in Philippines?
3. How manyPhilippines motor insurance market  are 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 aPhilippines motor insurance market  and key vendor selection criteria
6. Where is thePhilippines motor insurance market   manufactured? What is the average margin per equipment?
7. Market share ofPhilippines motor insurance market  manufacturers and their upcoming products
8. The most important plannedPhilippines motor insurance market  in next 2 years
9. Details on network of majorPhilippines motor insurance market   market  and pricing plans
10. Cost advantage for OEMs who manufacturePhilippines motor insurance market  in-house
11. 5 key predictions for next 5 years inPhilippines motor insurance market  
12. Average B-2-BPhilippines motor insurance market  price in all segments
13. Latest trends inPhilippines motor insurance market , by every market segment
14. The market size (both volume and value) ofPhilippines motor insurance market  in 2022-2030 and every year in between?
15. Global production breakup ofPhilippines motor insurance market , by suppliers and their OEM relationship.