In 2024, the forecast for net claims of compulsory automobile liability insurance in Japan stands at 724.53 billion Japanese Yens, reflecting data from previous actuals and forecasts for subsequent years up to 2028. Based on this information, there is a projected yearly decline of approximately 0.46% to 0.56% year-on-year from 2025 to 2028. Over the past two years, we have seen a consistent downward trend in values. Averaging a CAGR from 2023 to 2028 will provide us an annual reduction in the range of 0.49% per year.
Future trends to watch for include the potential impact of technological advancements in vehicle safety, changes in driving behavior, and regulatory shifts. These factors could further influence the net claims trend, potentially leading to further reductions or possible stabilization in claim values.
