24/7 Customer Support

Taiwan Online Automotive Insurance Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2030

Taiwan Online Automotive Insurance Market: By Risk Coverage (Liability Coverage, Collision Coverage, Personal Injury Coverage, Uninsured Motorist Coverage, Comprehensive Coverage and Add-ons); Coverage Term (One year, 3 Years, 5 Years and More than 5 years); Distribution Channel (Bank, Brokers/Others and Insurance Company Webpages); Vehicle Type (ICE Vehicles, Electric Vehicles and Hybrid); Vehicle Application (Personal, Commercial and Off-road Vehicles); Vehicle Ownership (New Vehicles and Used Vehicles); End User (Individuals and Businesses)—Industry Dynamics, Market Size and Opportunity Forecast for 2023–2030

  • Published Date: Jan-2023  |   Format: pdfpowerpointexcel  |  Report ID: AA0123347  | Delivery: 2 to 4 Hours


The main purpose of automotive insurance is to offer financial security against property loss or bodily harm caused by accidents. 

AI in insurance is the current trend in Taiwan online automotive insurance market.

The Taiwan online automotive insurance market is projected to grow at a CAGR of 5.7% during the forecast period 2023-2030 and is expected to reach US$ 751.53 Million by 2030. 

Factor such as growing disposable income and increasing number of accidents and fatalities in Taiwan boost the market growth.

The add-ons segment holds highest CAGR in the Taiwan online automotive insurance market during the forecast period.

The brokers segment dominates the Taiwan online automotive insurance market in 2022. 

Exit of global insurers from Taiwanese automotive insurance market restrain the market growth.

COVID-19 negatively interrupted the Taiwan automotive insurance business and with the rising concern of insurance demand the automotive insurance industry is expected to grow in the recent years.

Rising government initiatives creates a lucrative growth opportunity in the Taiwan online automotive insurance market.

The market segmentations based on vehicle ownership are new vehicles and used vehicles.

Risk coverage, coverage term, distribution channel, vehicle type, vehicle application, vehicle ownership and end users are the different segments in the Taiwan online automotive insurance market.

Some of the key players operating in the market are Fubon Insurance Co Ltd, Cathay Century Insurance Co Ltd, Mitsui Sumitomo Insurance Co., Ltd. and Tokio Marine Newa among others.