About Cosmetology Insurance
Cosmetology insurance offers insurance related to the risks faced in the cosmetology industry, such as a facial treatment gone wrong or a hair color treatment gone bad. With liability insurance for beauticians and cosmetologists, it helps to protect against client claims of emotional distress, treatments went wrong, bodily injury, personal injury, and property damage. Whether the allegations have a factual basis or not, these types of claims can put a lot of stress and burden on cosmetologists and beauticians that boosting the demand for cosmetology insurance.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that Global Players will contribute the maximum growth to Global Cosmetology Insurance market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Chubb (Switzerland), American International Group, Inc. (United States), Hiscox (Bermuda), Allianz (Germany), Tokio Marine Holdings (Japan), AXA (France), Travelers (United States), Assicurazioni Generali (Italy), Doctors Company (United States), Marsh & McLennan (United States), Liberty Mutual (United States), MedPro Group (United States) and Aviva (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Zurich (Switzerland), Sompo Japan Nipponkoa (Japan), Munich Re (Germany), Aon (United Kingdom) and Beazley (United Kingdom).
Segmentation Overview
AMA Research has segmented the market of Global Cosmetology Insurance market by Type (D&O Insurance and E&O Insurance), Application (
) and Region.
On the basis of geography, the market of Cosmetology 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 Insurance Option, the sub-segment i.e. Full Time will boost the Cosmetology Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Online will boost the Cosmetology Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Adoption of Implementation of Digital Technologies and Analytics in Cosmetology Insurance
Market Growth Drivers:
Increased Risks for Professionals in Social Media and Increased Promotional Activities by Insurance Companies
Challenges:
Less Awareness in Developing Countries and Longer Time Required for Claim Settlement
Restraints:
Cosmetology Insurance Adds Additional Expenses
Opportunities:
Growing Demand from End-users and Growth in the Insurance Sector
Market Leaders and their expansionary development strategies
April 2019, World Insurance Associates LLC, an independent insurance agency headquartered in Tinton Falls, NJ, acquired the Joseph A. Britton Agency, Inc. of Mountainside, New Jersey.
Key Target Audience
Cosmetology Insurance Service Providers, Industry Associations, Potential Investors, Marketing firms, Government and Regulatory Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a 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 the purpose to understand the companies positioning regarding the 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 a 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, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.