Germany Accident Insurance (GWP) Market To Reach $28.71 Billion By 2030

Germany Accident Insurance (GWP) Market Growth & Trends

The Germany accident insurance market in term of gross written premium (GWP) is anticipated to reach USD 28.71 billion by 2030 and is projected to grow at a CAGR of 3.0% from 2025 to 2030, according to a new report by Grand View Research, Inc. Increasing road accidents and traffic density, demographic shifts & consumer awareness, and regulatory requirements are factors contributing to market growth.

The rise in traffic accidents is a major driver of the accident insurance market in Germany. With extensive road networks and high vehicle density, road safety remains a critical concern. The financial burden of repairs and medical expenses following accidents encourages individuals to invest in accident insurance for protection against unforeseen costs. As the number of registered vehicles continues to grow, particularly with the adoption of electric cars, the demand for tailored insurance policies addressing specific risks also increases.

Shifting demographics, including urbanization and population growth, contribute to increased demand for accident insurance. Urban areas often experience higher traffic congestion, raising the likelihood of accidents and prompting consumers to seek comprehensive coverage. In addition, growing consumer awareness about the importance of financial protection in case of accidents has led to a surge in insurance contracts. This trend reflects evolving consumer behavior, with more individuals prioritizing accident insurance as an essential safeguard.

Furthermore, increasing product innovation and emergence of digital distribution channels fuel market growth. The integration of accident insurance into broader personal protection packages including life, disability, and travel insurance incrdeases the product value. Direct-to-consumer platforms, aggregators, and embedded insurance models (for example, accident coverage bundled with sports memberships or mobility services) simplify purchasing and improve consumer engagement, propelling market growth further.

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Germany Accident Insurance (GWP) Market Report Highlights

• Based on insurance type, public insurance accounted for the largest revenue share of 70.32% in 2024. In addition, this segment is expected to grow at the fastest CAGR during the forecast period. This growth is attributed to the presence of statutory accident insurance institutions, requiring employers to provide coverage for their employees.

• Based on policy type, the corporate policy segment held the largest revenue share of 68.84% in 2024 and is anticipated to grow at the fastest CAGR over the forecast period. The corporate accident insurance consists of employer-sponsored accident insurance policies for workplace coverage, group insurance contracts, and corporate liability accident protection.

• The multi-company broker segment accounted for the largest revenue share of 45.24% in 2024, owing to its ability to offer consumers and corporate clients broad, tailored access to multiple insurers and competitive policy options. Unlike tied agents who represent a single insurer, multi-company brokers operate independently and collaborate with a wide panel of insurance providers.

• In March 2025, ERGO Group acquired NEXT Insurance for USD 2.6 billion, helping ERGO to expand its footprints globally.

Germany Accident Insurance Market Segmentation

Grand View Research has segmented the Germany accident insurance market report based on insurance type, policy type, and distribution channel:

Germany Accident Insurance Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Germany Accident Insurance Market (Gross Written Premiums (GWP))

  • Public

    • Corporate Policy

    • Retail Policy

    • Germany Public Accident Insurance Market (GWP), by Distribution Channel Outlook (Revenue USD Billion, 2018 - 2030)

      • Employer-based Enrollment

      • Self-enrollment for Special Groups

  • Private

    • Corporate Policy

    • Retail Policy

    • Germany Private Accident Insurance Market (GWP), by Distribution Channel Outlook (Revenue USD Billion, 2018 - 2030)

      • Single Company Broker

      • Multi-company Broker

      • Credit Institutions

      • Direct Sales

      • Other Sales

  • Germany Accident Insurance Market (New Business Premiums (NBP))

    • Public

    • Private

Germany Accident Insurance (GWP) Policy Type Outlook (Revenue USD Billion, 2018 - 2030)

• Corporate Policy

• Retail Policy

Germany Accident Insurance (GWP) Distribution Channel Outlook (Revenue USD Billion, 2018 - 2030)

• Traditional Distribution Channels

• Digital/Online Distribution Channels

List of Key Players in theGermany Accident Insurance Market

• Allianz SE

• Debeka Krankenversicherungsvere A.G.

• Generali Deutschland

• R+V Versicherung AG

• AXA Konzern AG

• ERGO

• DKV

• Signal Iduna