What is Auto Mechanic Insurance?
Auto mechanic insurance is designed to protect auto repair shop mechanics and mobile mechanics from costly liabilities that result from unexpected accidents like employee illness, property damage, and customer injury. Adequate insurance coverage can safeguard small businesses from the financial risks associated with lawsuits and claims.
The market study is broken down by Type (Comprehensive Motor Insurance for Mechanics, 3rd Party Public Liability Vehicle Insurance, Employers Liability and Business Interruption) and major geographies with country level break-up.
Research Analyst at AMA estimates that Players from United States will contribute to the maximum growth of Global Auto Mechanic Insurance market throughout the predicted period.
Berkshire Hathaway (United States), Progressive Corporation (United States), Next Insurance, Inc. (United States), Liberty Mutual Group (United States), Nationwide (United States), Mitsui Sumitomo Insurance (Japan), AXA (France), Allstate Insurance (United States), Generali Group (Italy) and Ping An Insurance (China) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are PICC (China), Allianz SE (Germany), State Farm Insurance (United States) and MetLife Services and Solutions, LLC (United States).
AdvanceMarketAnalytics has segmented the market of Global Auto Mechanic Insurance market by Type, Application and Region.
On the basis of geography, the market of Auto Mechanic Insurance has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Profession, the sub-segment i.e. Auto Repair Shop Mechanics will boost the Auto Mechanic Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Sales Channel, the sub-segment i.e. Online (Company Websites, Brokers Websites) will boost the Auto Mechanic Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Coverage, the sub-segment i.e. Business Property Insurance will boost the Auto Mechanic Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
In January 2018, AXA XL announced that it has merged AXA Corporate Solutions (ACS) and AXA ART into XL Insurance Company SE (XLICSE). This move was a follow-on from the acquisition of XL Group by AXA that was completed all the way back in September 2018.
- Add-on Coverage Options and Benefits Offered such as Discounts
- Increasing Rate of Unpredicted Accidents and Casualties
- Stringent Government Regulation across the Globe for Insurance
- Availability of Quick, Easy, and Hassle-Free Online Service
- High Premium Cost of the Insurance Packages
- High Competition in the Insurance Industry
- Unawareness among People for Insurance
Key Target AudienceAuto Mechanic Insurance Providers, Insurance Service Vendors, Financial Institution, Brokerage Houses, End-Use Industry and Others
About ApproachDuring this study the evaluation and validation of the market size is done through various sources including primary and secondary analysis. AMA Research & Media follows industrial and regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.
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