TECHGuru

  Automotive Insurance Market: Introduction Financial institutions and insurance companies provide risk mitigation to individuals, businesses, and institutional clients through contracts. Automotive insurance is one such contract that enables vehicle owners to manage risks associated with vehicle accidents or maintenance. Automotive insurance, or motor insurance, is an insurance policy for vehicles, which provides financial protection against collision damage and damage arising due to natural disasters or theft Key Drivers of  Automotive Insurance Market Automotive safety has become a major concern amidst a consistent rise in number of accidents across the globe due to high number of on-road vehicles, unsafe driving patterns, underdeveloped infrastructure, and numerous others such factors. In February 2020, according to the World Health Organization, 1.35 million people die every year across the globe, costing a majority of countries around 3% of their total GDP. This economic...