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- Number of pages : 30 pages
- Format : Digital and PDF versions
- Last update : 13/12/2021
Summary and extracts
1 Market summary
1.1 INTRODUCTION
L' automobile insurance on the principle of compensation, covers damage caused by the operation of a motor vehicle. In France, car insurance has been compulsory since 1958 and its objective is to provide financial support in the event of losses suffered by an insured person in a road accident. The guarantees and offers offered in France by insurance companies are diverse and car insurance retains a significant share of the insurance market in France. Automobile insurance belongs to the property and liability insurance segment and represents nearly 40% of turnover generated by the segment, ahead of 20% for property and casualty insurance
The French motor insurance market has been growing steadily in recent years. The car insurance market is dominated by insurance or bancassurance giants, leaving little room for new entrants. Four main types of actors are then distinguished
- The insurers traditional (insurance companies meeting the insurance code)
- The banks-insurance or bancassurance companies (subsidiaries of banking groups)
- The mutual insurers (groups composed of mutuals or unions of mutuals meeting the mutuality code)
- The joint groups (pension funds complying with the Social Security Code)
Increased competition and tighter regulations are driving car insurance market players to focus their strategy on customer satisfaction. The auto insurance market must now deal with the provisions of the hamon law allowing policyholders to more easily terminate their contracts. In addition, in a difficult financial context for some French households, car insurance prices are on the rise with a growth of 1.5% over 2018.
List of charts
- Evolution de la taille du marché mondial de l'assurance mondiale
- Répartition de la croissance des primes d'assurance de dommages par région
- Répartition des primes d'assurances émises par région
- Répartition des Français qui ont challengé leur assurance automobile selon la CSP
- Les critères principaux dans le choix d'une assurance auto
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Latest news
Acheel: The crisis and neo-insurance - 27/10/2023
- Start-ups in the online insurance sector, known as insurtechs, have seen venture capital funds become more cautious and financing more scarce over the past eighteen months.
- After its launch, insurtech Acheel passed the 100,000 contract mark.
- Acheel has been profitable since the end of 2022, and claims 350,000 contracts representing 135 million euros in premiums.
- In-vehicle insurance will account for over $700 billion in premiums by 2030, or 25% of the total global market.
- Luko is an online insurance start-up
- According to "L'Argus de l'assurance", the British Admiral Group, which owns L'olivier Assurance in France, has decided not to acquire the start-up
- Luko has raised over 100 million euros.
- Lovys reduced its workforce by 40% between January and July 2022.
Insurtech Acheel passes the 200,000 mark and becomes profitable - 07/02/2023
- Raising of 29 million euros announced in May 2021 2n 2022
- Acheel has signed over 200,000 contracts and collected 79 million euros in premiums (compared with 23,000 contracts and 12.5 million euros in premiums at the end of 2021)
- Acheel is profitable
One year after its launch, insurtech Acheel has over 100,000 active contracts. - 20/05/2022
- Acheel collected 35 million euros in premiums during 2022 ( in twelve months )
- The start-up has an ambitious growth plan for 2022: 200,000 contracts and 70 million euros in premiums
- To achieve this, at the end of the month Acheel will launch its car insurance business, which is attracting significant online volume
- Launched in 2021, the insurtech rapidly passed the 100,000 contracts signed mark
Flitter, the new car insurance by the kilometer. - 27/01/2022
- The spread of telecommuting has led to a reduction in travel, but an increase in insurance premiums.
- Flitter is working with insurer Wakam, as are many insurance start-ups.
- Launched in early January 2022, this start-up is aimed at motorists who drive less than 10,000 kilometers a year.
- The principle is simple: the motorist answers a few questions online and in two minutes obtains a yearly package.
- To attract customers, the young company is banking on direct distribution, and is considering partnerships for the future.
Lyanne, the new Robin Hood of insurance - 01/12/2021
- Year-old start-up raises 1.2 million euros from Firstminute Capital
- lyanne covers 9 categories of contracts: home, borrower, car, work accident, foreign holiday, school, pet and credit insurance.
- 4,000 users at the start of the project
- Lyanne handles all claims for a flat fee of 49 euros per claim
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