Selling motorbike insurance is increasing

The decrease in motorbike sales has affected the sale of various motorbike insurance of many insurance companies in Vietnam. Although revenue from the sale of motor insurance is not much if compared to cars, genaral insurance companies keep using many tricks to win the race.

Selling motorbike insurance is increasing

The situation of motor insurance sale

Revenue statistics of insurance companies showed that sales of motor insurance in the first 3 months in 2015 increased by 3%  (43.9 billion). This figure is nothing compared to the growth of the auto insurance segment, but this is not a bad result.

Many businesses said the business situation of selling motorbike insurance without mutations in the first quarter of the year because the motorbike market stalled, not increase again. Besides reducing the amount of consumption of the motor to affect the sale of motor insurance, the insurance sales also fell because the insurance renewal rate in the new year not as much as previous years.

Keep racing?

Despite the decline in vehicle sales under sales tractor motor insurance no significant growth, the insurance company has no intention to abandon this market. It is in these times, the insurance company even tried to increase the cost of making the market sell motor insurance maintains its heat.

Another reason leading to sales of motor insurance costs reduced market operators rose to absurd levels. Despite the strong launch costs for the sale of new motor insurance but not advertising, discounts excess revenue that nothing substantial. For example, insurance of civil liability insurance car owners is key motorbikes are required to sell at the prices, on time and not promotional. The rate of compensation for this type of insurance is not high, only 7-8% of revenue.