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Bulgaria Car Insurance Market Research Report Information by Product (Third-Party Liability Insurance, Comprehensive Coverage, Partial Coverage, Extended Warranty Coverage, Gap Insurance, SMART Insurance, Car Key Insurance, Roadside Assistance Cover, and

Publisher Market Research Future
Published Jan 14, 2025
Length 151 Pages
SKU # RESFT19656852

Description

The Bulgaria Car Insurance market is expected to grow significantly during the research period, with a CAGR of XX%. The market was anticipated to be worth USD 623.5 million in 2023, rising to USD 901.19 million by the end of the forecast period (2024-2032).

Bulgaria's car insurance industry is driven by a combination of legal frameworks, increased vehicle ownership, technology improvements, and changing consumer preferences. The most important factor is the obligatory requirement for third-party liability insurance, which ensures that all automobiles have at least basic coverage. This regulatory environment assures sustained demand for insurance goods, hence driving market expansion. In recent years, rising disposable incomes and accessible auto finance choices have spurred increased vehicle ownership, resulting in a greater demand for various types of car insurance, ranging from basic coverage to more comprehensive packages. As car ownership grows, consumers seek insurance options customized to their individual needs, such as theft protection, natural catastrophe coverage, and vehicle depreciation.

Because of its mandatory nature, third-party liability insurance continues to be the most important segment of the market. However, Comprehensive Coverage is becoming more popular because it provides broader protection against theft, vandalism, and natural catastrophes. Specialized solutions such as Extended Warranty Coverage and Gap Insurance are increasingly gaining popularity, particularly among high-end and new car owners looking for additional financial protection in the case of damage or total loss.

Marketing Segmentation
The Bulgaria Car Insurance market is divided into the following product categories: Third-Party Liability Insurance, Comprehensive Coverage, Partial Coverage, Extended Warranty Coverage, Gap Insurance, SMART Insurance, Car Key Insurance, Roadside Assistance Cover, and Others.
The market is divided into six segments based on car body type: hatchback, sedan, SUV, crossover, coupe, wagon, and others.
The Bulgaria Car Insurance market is divided into four segments based on vehicle age: less than two years, two to five years, five to ten years, and ten to twenty years.
The market is divided into two categories based on vehicle type: electric vehicles and internal combustion engines (ICE).
The market is divided into two segments based on application: personal and commercial.
The market is divided into two segments based on the distribution channel: personal and commercial.

Major Players
KBC Group, Allianz Group, Groupama Insurance, EUROINS Insurance Group (EIG), The UNIQA Insurance Group AG, OZK Insurance AD, Armeec Insurance, The Bulstrad Vienna Insurance Group (VIG), BUL INS AD, and Generali Group are among the leading competitors in the Bulgaria Car Insurance market.

Table of Contents

151 Pages
1 Executive Summary
2 Market Introduction
2.1 Definition
2.2 Scope Of The Study
2.3 Research Objective
2.4 Market Structure
3 Research Methodology
3.1 Overview23
3.2 Data Flow
3.2.1 Data Mining Process
3.3 Purchased Database
3.4 Secondary Sources:
3.4.1 Secondary Research Data Flow
3.5 Primary Research
3.5.1 Primary Research Data Flow:
3.5.2 Primary Research: Number Of Interviews Conducted
3.6 Approaches For Market Size Estimation
3.6.1 Consumption & Net Trade Approach
3.6.2 Revenue Analysis Approach
3.7 Data Forecasting
3.7.1 Data Forecasting Technique
3.8 Data Modeling
3.8.1 Microeconomic Factor Analysis:
3.8.2 Data Modeling
3.9 Teams And Analyst Contribution
4 Market Dynamics
4.1 Introduction
4.2 Market Trends And Growth Affecting Factors
4.2.1 Rising Vehicle Ownership And Usage
4.2.2 Stringent Regulatory Requirements
4.2.3 Growing Awareness Of The Benefits Of Comprehensive Car Insurance
4.2.4 Increase In Disposable Income
4.2.5 Improvements In Insurance Technology
4.3 Drivers
4.3.1 Telematics And Usage-based Insurance
4.3.2 Increasing Accident Frequency And Severity
4.3.3 Rising Cost Of Vehicle Repairs
4.3.4 Regulatory Changes
4.3.5 Economic Conditions
4.4 Restraints
4.4.1 Increasing Frequency And Severity Of Claims
4.4.2 Growing Popularity Of Ride-sharing Services
4.4.3 Technological Advancements In Vehicle Safety
4.4.4 Regulatory Changes And Policy Initiatives
4.4.5 Intensifying Competition From New Entrants
4.5 Opportunity
4.5.1 Autonomous Vehicles
4.5.2 Electric Vehicles
4.5.3 Connected Cars
4.5.4 Ridesharing
4.5.5 Usage-based Insurance
4.6 Technology, Market, And Customer Trends
4.6.1 A Trend Towards The Usage-based Insurance
4.6.2 Integration Of Artificial Intelligence (Ai), Machine Learning And Blockchain Technology
4.6.3 Growing Popularity Of Ev And Partnerships With Automotive And Technology Companies
4.6.4 Incorporation Of Value-added Services
4.6.5 Personalized Pricing
4.6.6 Development Of Personalized And Usage-based Insurance Products
4.6.7 Expansion Of Digital Insurance Platforms
4.6.8 Growth In Microinsurance Products
4.7 Impact Analysis Of Covid-19
4.7.1 Economic Impact
4.7.2 Impact On Overall Automotive Sector
4.7.3 Impact On Car Insurance Market
4.7.4 Y-o-y Growth Analysis
5 Market Factor Analysis
5.1 Supply Chain Analysis
5.1.1 Participants
5.1.1.1 Insurance Providers
5.1.1.2 Reinsurers
5.1.1.3 Distribution Channels
5.1.1.4 Technology Providers
5.1.1.5 Regulatory Bodies
5.2 Porter’s Five Forces Model
5.2.1 Bargaining Power Of Suppliers
5.2.2 Bargaining Power Of Buyers
5.2.3 Threat Of New Entrants
5.2.4 Threat Of Substitutes
5.2.5 Intensity Of Rivalry
5.3 Swot Analysis
5.3.1 Strengths
5.3.1.1 Strong Regulatory Framework Ensuring Market Stability
5.3.1.2 Established Insurers With Extensive Networks And Brand Recognition
5.3.2 Weaknesses
5.3.2.1 High Competition Limiting Profit Margins
5.3.2.2 Slow Adoption Of Digital Transformation By Some Traditional Insurers
5.3.3 Opportunities
5.3.3.1 Growing Demand For Personalized And Usage-based Insurance Solutions
5.3.3.2 Rising Adoption Of Digital Platforms And Telematics Technology
5.3.4 Threats
5.3.4.1 Entry Of Insurtech Startups Increasing Competition
5.3.4.2 Economic Uncertainty Affecting Consumer Spending On Insurance
5.4 Pestle Analysis
5.4.1 Political
5.4.2 Economic
5.4.3 Social
5.4.4 Technological
5.4.5 Legal
5.4.6 Environmental
5.5 Regulatory Outlook
5.6 Regulated & Non-regulated Products
5.7 Mandatory Insurance
5.8 Insurance Awareness & Perception
5.9 Market Attractiveness
5.10 Pricing Trends Analysis
5.11 Key Buying Criteria Analysis
5.12 Market-specific Behaviors Analysis
5.12.1 Cultural Differences
5.12.2 Economic Conditions
5.12.3 Technological Advancements
5.12.4 Regulatory Environment
5.12.5 Competitive Landscape
6 Bulgaria Car Insurance Market, By Product
6.1 Overview
6.2 Third-party Liability Insurance
6.3 Comprehensive Coverage
6.4 Partial Coverage
6.5 Extended Warranty Coverage
6.6 Gap Insurance
6.7 Smart Insurance
6.8 Car Key Insurance
6.9 Roadside Assistance Cover
6.10 Others
7 Bulgaria Car Insurance Market, By Car Body Type
7.1 Overview
7.2 Hatchback
7.3 Sedan
7.4 Suv (Sport Utility Vehicle)
7.5 Crossover
7.6 Coupe
7.7 Wagon
7.8 Others
8 Bulgaria Car Insurance Market, By Vehicle Category
8.1 Overview
8.2 Electric Vehicles (Evs)
8.3 Internal Combustion Engine (Ice) Vehicles
9 Bulgaria Car Insurance Market, By Vehicle Age
9.1 Overview
9.2 Less Than 2 Years
9.3 From 2 To 5 Years
9.4 From 5 To 10 Years
9.5 From 10 To 20 Years
10 Bulgaria Car Insurance Market, By Application
10.1 Overview
10.2 Personal
10.3 Commercial
11 Bulgaria Car Insurance Market, By Distribution Channel
11.1 Overview
11.2 Direct Response
11.3 Agents/Brokers
11.4 Banks
12 Competitive Landscape
12.1 Introduction
12.2 Competition Dashboard
12.2.1 Product Portfolio
12.2.2 Regional Presence
12.2.3 Strategic Alliances
12.2.4 Industry Experiences
12.3 Market Share Analysis, 2022
12.4 Who Are The Major Disruptors & Innovators
12.5 What Strategies Are Being Adopted By Market Leaders
12.6 Key Developments & Growth Strategies
12.6.1 Product Launch
12.6.2 Partnership
12.6.3 Acquisition
12.6.4 Expansion
12.6.5 Merger
13 Company Profiles
13.1 Kbc Group
13.1.1 Company Overview
13.1.2 Financial Overview
13.1.3 Products Offered
13.1.4 Key Developments
13.1.5 Swot Analysis
13.1.6 Key Strategy
13.2 Euroins Insurance Group (Eig)
13.2.1 Company Overview
13.2.2 Financial Overview
13.2.3 Products Offered
13.2.4 Key Developments
13.2.5 Swot Analysis
13.2.6 Key Strategy
13.3 Uniqa Insurance Group Ag
13.3.1 Company Overview
13.3.2 Financial Overview
13.3.3 Products Offered
13.3.4 Key Developments
13.3.5 Swot Analysis
13.3.6 Key Strategy
13.4 Allianz Group
13.4.1 Company Overview
13.4.2 Financial Overview
13.4.3 Products Offered
13.4.4 Key Developments
13.4.5 Swot Analysis
13.4.6 Key Strategy
13.5 Ozk Insurance
13.5.1 Company Overview
13.5.2 Products Offered
13.5.3 Key Developments
13.5.4 Swot Analysis
13.5.5 Key Strategy
13.6 Armeec Insurance
13.6.1 Company Overview
13.6.2 Products Offered
13.6.3 Key Developments
13.6.4 Swot Analysis
13.6.5 Key Strategy
13.7 Bulstrad Vienna Insurance Group
13.7.1 Company Overview
13.7.2 Financial Overview
13.7.3 Products Offered
13.7.4 Key Developments
13.7.5 Swot Analysis
13.7.6 Key Strategy
13.8 Generali Group
13.8.1 Company Overview
13.8.2 Financial Overview
13.8.3 Products Offered
13.8.4 Key Developments
13.8.5 Swot Analysis
13.8.6 Key Strategy
13.9 Groupama Insurance
13.9.1 Company Overview
13.9.2 Financial Overview
13.9.3 Products Offered
13.9.4 Key Developments
13.9.5 Swot Analysis
13.9.6 Key Strategy
13.10 Bul Ins Ad
13.10.1 Company Overview
13.10.2 Financial Overview
13.10.3 Products Offered
13.10.4 Key Developments
13.10.5 Swot Analysis
13.10.6 Key Strategy
List Of Tables
Table 1 Qfdmodeling For Market Share Assessment
Table 2 Bulgaria Car Insurance Market, By Product 2018-2032 (Usd Million)
Table 3 Bulgaria Car Insurance Market, By Car Body Type 2018-2032 (Usd Million)
Table 4 Bulgaria Car Insurance Market, By Vehicle Category 2018-2032 (Usd Million)
Table 5 Bulgaria Car Insurance Market, By Vehicle Age 2018-2032 (Usd Million)
Table 6 Bulgaria Car Insurance Market, By Application 2018-2032 (Usd Million)
Table 7 Bulgaria Car Insurance Market, By Distribution Channel 2018-2032 (Usd Million)
Table 8 Product Launch
Table 9 Partnership
Table 10 Acquisition
Table 11 Expansion
Table 12 Merger
Table 13 Kbc Group: Products Offered
Table 14 Kbc Group: Key Developments
Table 15 Euroins Insurance Group (Eig): Products Offered
Table 16 Euroins Insurance Group (Eig): Key Developments
Table 17 Uniqa Insurance Group Ag: Products Offered
Table 18 Allianz Group: Products Offered
Table 19 Allianz Group: Key Developments
Table 20 Ozk Insurance: Products Offered
Table 21 Armeec Insurance: Products Offered
Table 22 Bulstrad Vienna Insurance Group: Products Offered
Table 23 Bulstrad Vienna Insurance Group Ag: Key Developments 133 Table 24 Generali Group: Products Offered
Table 25 Generali Group: Key Developments
Table 26 Groupama Insurance: Products Offered
Table 27 Groupama Insurance: Key Developments
Table 28 Bul Ins Ad: Products Offered
List Of Figures
Figure 1 Bulgaria Car Insurance Market: Structure
Figure 2 Bulgaria Car Insurance Market: Market Growth Factor Analysis (2018-2032)
Figure 3 Driver Impact Analysis (2023-2032)
Figure 4 Restraint Impact Analysis (2022-2032)
Figure 5 Supply Chain Analysis: Bulgaria Car Insurance Market
Figure 6 Porter’s Five Forces Model: Bulgaria Car Insurance Market
Figure 7 Bulgaria Car Insurance Market, By Product, 2023 & 2032 (Usd Million)
Figure 8 Bulgaria Car Insurance Market, By Car Body Type, 2023 & 2032 (Usd Million)
Figure 9 Bulgaria Car Insurance Market, By Vehicle Category, 2023 & 2032 (Usd Million)
Figure 10 Bulgaria Car Insurance Market, By Vehicle Age, 2023 & 2032 (Usd Million)
Figure 11 Bulgaria Car Insurance Market, By Application, 2023 & 2032 (Usd Million)
Figure 12 Bulgaria Car Insurance Market, By Distribution Channel, 2023 & 2032 (Usd Million)
Figure 13 Bulgaria Car Insurance Market, By Product, 2023 & 2032 (Usd Million)
Figure 14 Bulgaria Car Insurance Market, By Product, 2023 (% Share)
Figure 15 Bulgaria Car Insurance Market, By Car Body Type, 2023 & 2032 (Usd Million)
Figure 16 Bulgaria Car Insurance Market, By Car Body Type, 2023 (% Share)
Figure 17 Bulgaria Car Insurance Market, By Vehicle Category, 2023 & 2032 (Usd Million)
Figure 18 Bulgaria Car Insurance Market, By Vehicle Category, 2023 (% Share)
Figure 19 Bulgaria Car Insurance Market, By Vehicle Age, 2023 & 2032 (Usd Million)
Figure 20 Bulgaria Car Insurance Market, By Vehicle Age, 2023 (% Share)
Figure 21 Bulgaria Car Insurance Market, By Application, 2023 & 2032 (Usd Million)
Figure 22 Bulgaria Car Insurance Market, By Application, 2023 (% Share)
Figure 23 Bulgaria Car Insurance Market, By Distribution Channel, 2023 & 2032 (Usd Million)
Figure 24 Bulgaria Car Insurance Market, By Distribution Channel, 2023 (% Share)
Figure 25 Competitor Dashboard: Bulgaria Car Insurance Market
Figure 26 Bulgaria Car Insurance Market: Competitive Analysis, 2023
Figure 27 Kbc Group: Financial Overview Snapshot
Figure 28 Kbc Group: Swot Analysis
Figure 29 Euroins Insurance Group (Eig): Financial Overview Snapshot
Figure 30 Euroins Insurance Group (Eig): Swot Analysis
Figure 31 Uniqa Insurance Group Ag: Financial Overview Snapshot
Figure 32 Uniqa Insurance Group Ag: Swot Analysis 122
Figure 33 Allianz Group: Financial Overview Snapshot
Figure 34 Allianz Group: Swot Analysis
Figure 35 Ozk Insurance: Swot Analysis
Figure 36 Armeec Insurance: Swot Analysis
Figure 37 Bulstrad Vienna Insurance Group (Vig): Financial Overview Snapshot
Figure 38 Bulstrad Vienna Insurance: Swot Analysis
Figure 39 Generali Group: Financial Overview Snapshot136
Figure 40 Generali Group: Swot Analysis
Figure 41groupama Insurance: Financial Overview Snapshot

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