Edison, NJ -- (SBWIRE) -- 09/13/2021 -- The Bike Insurance Market has witnessed continuous growth in the past few years and is projected to grow even further during the forecast period (2021-2026). The assessment provides a 360° view and insights, outlining the key outcomes of the industry. These insights help the business decision-makers to formulate better business plans and make informed decisions for improved profitability. In addition, the study helps venture or private players in understanding the companies more precisely to make better informed decisions.

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Scope of the Report of Bike Insurance

Bike insurance is included in two wheeler insurance policy that protects bike against any uncertainty and damages like road accidents, theft, natural disaster, vandalism, etc. There are two categories of bike insurance namely comprehensive insurance and third-party liability insurance. The coverage policy for bike insurance includes collision, medical payments, theft, etc, providing ease of recovering the expenses in different premium rates.

On 20th October 2020, India's first and fastest-growing wholly digital general insurance provider, ACKO has partnered with Finserv MARKETS, a leading fintech aggregator, for offering two and four-wheeler insurance policies. Customers can now buy ACKO Insurance for their car or bike on the Finserv MARKETS platform by providing basic details. In partnership with Finserv MARKETS, ACKO has made the insurance buying experience transparent, intuitive, and effortless. ACKO offers value-added services like hassle-free claims, zero paperwork, one-hour pick-up, 3-day assured claim servicing, and 1-year repair warranty - in select cities.

Major Players are:

Reliance General Insurance Company Limited (India),Bajaj Allianz General Insurance (Insurance),Acko General Insurance (India),Government Employees Insurance Company (United States),HDFC ERGO General Insurance Company (India),ICICI Bank Limited (India),Policybazaar (India),National Insurance Company Limited (India),Axa S.A. (France)

NOTE: Our analysts monitoring the situation across the globe explain that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.

The titled segments and sub-section of the market are illuminated below:

Type (Comprehensive Insurance, Third-Party Liability Insurance), End Use (Personal, Commercial), Coverage (Collision Insurance, Medical Payment Insurance, Liability Insurance, Theft and Damage Insurance, Others), Insurance Service (Online Service, Offli

Market Trends:
Introduction of New Policies for Bike Insurance with Different premium Option

Market Drivers:
Rising Number of Two Wheeler Accidents
Need for Getting Secured Against the Uncertainty and the Costly Expenses Associated with it

Challenges:
Stiff Competition in the Bike Insurance Market Due to New Entrants

Opportunities:
Emerging Third Party Online Services for the Bike Insurance
Increasing Number of Advertisement Activities for Promotion of Bike Insurance

Years considered for this report:
? Historical Years: 2015-2020
? Base Year: 2020
? Estimated Year: 2021
? Forecast Period: 2021-2026

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What are the market factors that are explained in the Bike Insurance Market report?
– Key Strategic Developments: Strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors.
– Key Market Features: Including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin.
– Analytical Tools: The analytical tools such as Porter's five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

Key Questions Answered in the Report:
- How much is the Bike Insurance Market Worth?
- What is the Growth Rate of the Bike Insurance Market?
- Which Segment of the Bike Insurance to Hold the Highest Market Share?
- Which Segment of the Bike Insurance Market to Witness Fastest Growth Rate?
- Which Region to Hold the Biggest Market Share?
- Who are the Key Players of the Bike Insurance Market?

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