Insuring electric vehicles : a growing opportunity but with near-term challenges

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<title>Insuring electric vehicles</title>
<subTitle>: a growing opportunity but with near-term challenges</subTitle>
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<namePart>Dai, Xin</namePart>
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<dateIssued>2024</dateIssued>
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<abstract displayLabel="Summary">Electric vehicle (EV) sales are forecast to grow 30% annually up to 2030, and the market for EV insurance is growing rapidly with it. Estimates place the global market size at over USD 200 billion by 2030 versus USD 51 billion in 2022. EV driving behaviours, repair costs and vehicle risks are impacting underwriting profitability and may require closer links between carmakers and re/insurers</abstract>
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<topic>Vehículos eléctricos</topic>
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<topic>Seguro de automóviles</topic>
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<topic>Mercado de seguros</topic>
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<topic>Reparación de automóviles</topic>
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<topic>Mercado de reaseguros</topic>
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<topic>Perspectivas del seguro</topic>
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<topic>Compraventa de vehículos</topic>
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<title>Economic Insights</title>
<partNumber>Issue 12-2024</partNumber>
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