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Shifting Gears: How the Surge in Electric Vehicle Adoption is Driving the Future of Auto Insurance 🔋

The electric vehicle revolution is charging ahead with unprecedented speed, reshaping industries from automotive manufacturing to energy production.

September 26, 2024 • Estimated Reading Time: 2 minutes

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The Electric Vehicle Surge: A $500 Billion Insurance Market Emerges 

The electric vehicle (EV) revolution is charging ahead with unprecedented speed,
However, one sector that is keeping pace with these changes is the insurance industry.

With ev’s poised to dominate global roads, insurers are finding themselves at the center of a rapidly expanding market.

TAM for the EV insurance market is valued at $40.55 billion in 2023 and projected to reach $508.67 billion by 2040, with a CAGR of ~16%.

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