What is the market value of a car for insurance purposes? The current market valuation made by your insurance provider is the value of the car if it were to be sold on the open market that day. There are online sites where you can get a free valuation, if you’re not sure of the current value. You may be tempted to underestimate the value of your car for a cheaper premium.
What attracts the first market segment of the car insurance market?
This first market segment within the car insurance market is attracted to insurance products that offer flexibility and the ability to add and subtract components of the insurance cover. They have a good understanding of their insurance needs and are reasonably involved in the purchase decision.
Is target marketing smart marketing for insurance companies?
I think it’s a given by now that target marketing is smart marketing. If you’re not yet a believer in target insurance marketing, skip past the eight ways listed here about how to develop a target market and read the wrap-up section.
What is driving the growth of the car insurance market?
Therefore, the growing number of accidents is driving the growth of the car insurance market during the forecasted period. Insurers are benefiting from the increased adoption of technologies such as GPS, telematics, artificial intelligence (AI), data analytics, blockchain, and big data.