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United States Motor Insurance Market 2022 – 2027: Fintech is Rapidly Transforming the Sector

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DUBLIN, March 11, 2022–(BUSINESS WIRE)–The “United States Motor Insurance Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 – 2027)” report has been added to ResearchAndMarkets.com’s offering.

The United States Motor Insurance Market is estimated to grow at a CAGR of approximately 3% during the forecast period.

The United States insurance industry’s net premiums in 2018 amounted to USD 1.22 trillion, with premiums paid by non-life insurers accounting for 51%, and premiums for life insurers accounting for 49%.

The overall net premium written for non-life was USD 618 Billion in 2018. The auto sector is facing significant change as the autonomous vehicle (AV) revolution likely brings a fundamental shift from personal ownership to shared mobility.

This dramatic reshaping of the auto industry is bound to have far-reaching effects on other sectors as well including insurance, urban planning and infrastructure, and supply chain management. In order to manage the low-growth, low-profit, non-life insurers have focused on innovation and disruption, demonstrating a strong interest…

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