Kathmandu. Global motor insurance premiums continue to rise. Motor insurance is expected to increase in the next 5 years. <\/p>\n
According to a report prepared by Quinnal, the demand for motor insurance and high prices are the reason for the increase in premiums. The global car insurance market is expected to grow to $2.13 trillion by 2026. The car insurance market is expected to grow to $2.86 trillion by 2031, growing at an average annual growth rate of 6.05 per cent. <\/p>\n
Similarly, the global motor insurance market was valued at $976.1 billion in 2025. The motor insurance market is expected to grow to $1.75 trillion by 2034. This will increase by an average of 6.7 percent annually after 2026. <\/p>\n
At the same time, insurance companies are increasing the use of artificial intelligence (AI) in underwriting and claims. Global AI use is expected to reach $26.3 billion in insurance revenue this year and $114.52 billion by 2031. This is expected to increase by 34.2 percent year-on-year. <\/p>\n
Industry surveys indicate that most large insurance companies are piloting or implementing AI tools in underwriting and claims workflows. However, full adoption varies by market and company size. <\/p>\n
AI-powered virtual agents and chatbots now handle 60 percent to 80 percent of customer contacts associated with an initial insurance claim. As the adoption of telematics continues, usage-based insurance is also increasing. The global application-based insurance market is projected to reach approximately $243.32 billion by 2030. It will grow at an annual rate of about 23.1 percent. \u2013Agency<\/p>\n","protected":false},"excerpt":{"rendered":"
Kathmandu. Global motor insurance premiums continue to rise. Motor insurance is expected to increase in the next 5 years. According to a report prepared by Quinnal, the demand for motor insurance and high prices are the reason for the increase in premiums. The global car insurance market is expected to grow to $2.13 trillion by […]<\/p>\n","protected":false},"author":16,"featured_media":274158,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45043,45044,45159],"tags":[],"class_list":["post-289556","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-auto-en","category-international-news-en","category-news-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/289556","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/comments?post=289556"}],"version-history":[{"count":1,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/289556\/revisions"}],"predecessor-version":[{"id":289557,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/289556\/revisions\/289557"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/274158"}],"wp:attachment":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=289556"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=289556"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=289556"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}