Autumn 2020

EMEA Motor Study

Motor insurance is the most widely purchased non-life product in Europe and represents an important platform in the region for both traditional and non-traditional products, for MGA businesses, for captives and other affinity and distribution platforms.

Legislation protecting injured parties across the territories is undergoing significant change, leading to larger claims both for physical damage and bodily injury. In most instances these are borne by the reinsurance market. At the same time, Motor insurers are seeing an increase in the Solvency Capital Requirement allocated to Motor due to the increased weight of reserving risk for claims.

The 2020 edition of this study is a peculiar one carried out in extraordinary circumstances. The COVID-19 infection has rapidly spread across the world causing an unprecedented health and economic crisis.

The forecasting scenario has become more complex because of the ongoing health emergency, which makes the results highly uncertain. The world is facing new challenges and the situation is  constantly evolving. For this reason, this year's study dedicates some space to analyse the initial impact of the pandemic on the insurance market.

In response to these challenges, Guy Carpenter has developed the Guy Carpenter EMEA Motor Study 2020 to provide clients and reinsurance partners with an overview of this peril throughout the region.  The 2020 edition includes 3 new countries from Central Eastern Europe, being Bulgaria, Romania and Slovakia.

The study also includes external contributions from major players in the Motor industry both from the insurance/reinsurance sector and from within the automotive industry:

  • ACTINEO overview on mastering the digital challenge of Bodily injury claims;
  • CAAREA insights into Automotive Lifestyle Protection;
  • Generali Group on connected solutions to access Mobility ecosystems.

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