The global insurance industry experienced a 25% drop in company filings mentions of electric vehicles in Q2 2023 compared with the previous quarter, with the highest share accounted for by Intact Financial with 33% year-on-year decrease, according to GlobalData’s analysis of over 37 insurance company filings. GlobalData’s Electric Vehicles (EV) in Insurance – Thematic Research report explains the dynamics of EV in the insurance market, highlighting the key trends, impact of EV on value chain and leading EV companies in the insurance market. Buy the report here.
Notably, electric vehicles was one of the most frequently referenced themes in Q2 2023, ranking highest in terms of mentions, ahead of social media and regtech, according to GlobalData.
Of the top leading companies in the insurance industry, Intact Financial had the greatest increase in references for electric vehicles in Q2 2023, compared with the previous quarter. GlobalData identified four electric vehicles-related sentences in the company's filings - 0.2% of all sentences - and a decrease of 33% in Q2 2023 compared with Q2 2022. Munchener Ruckversicherungs-Gesellschaft Aktiengesellschaft (Munich Re)’s mentions of electric vehicles dropped by 50% to 1.
GlobalData’s Company Filings Analytics also applies sentiment weight to reference sentences, based on whether the sentences are positive, negative, or neutral. Starting at 100 in 2020, an index over 100 is more positive. The overall index for electric vehicles in Q2 2023 was 89.
For further understanding of GlobalData's Electric Vehicles (EV) in Insurance - Thematic Research buy the report here.