...factors significantly add to the likelihood of accidents (Association of British insurers, 2012). There is a wealth of research and official accident figures showing that young drivers -especially males- are at a considerably higher risk of being involved in a crash which will often involve life-changing injuries, than older drivers. Consequently, this has resulted in the continuing rise in the cost of insurance premiums for young drivers. Studies show that 17-24 year old drivers with less than 2 years of driving experience are more likely to make catastrophic claims of crashes that have severe consequences for the driver, the passengers and other road users (Association of British insurers, 2012). That said, unless something is done, records for poor safety driving, accidents, and rise in insurance costs for young drivers will only continue. Very recently, one of Britain’s largest motor insurance companies started offering a smart box known as the Telematics (Black Box) aimed at young drivers of ages 17-25, which provides them with the opportunity of reducing their insurance premiums on the basis...
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...Christine Crocker GS1140 Problem Solving Theory Dr. Tiera Coston 4/7/2012 In the greater Baton Rouge area, there are 270 automotive and collision repair businesses. Within three miles from Fisher’s Automotive, where my husband Paul works, there are 40 shops that are providing some of the same services as Fisher’s. Of those 40, 26 perform collision repair. Before I started school, I worked at Fisher’s with Paul. I was a body technician and helped with some of the office duties. Paul is still currently the head painter. The owner, Vic Fisher, has recently seen a decline in business on the collision side. If the business is to remain open, which will allow Paul to keep his job and provide for his family, the staff at Fishers needs to figure out what they can do to bring in more business. The questions that need to be answered are: How is Fisher’s Automotive going to get a competitive edge on its competition in the greater Baton Rouge area? Is there an untapped source of revenue that can single it out from the other shops? Is there a service currently not being provided in Baton Rouge? Answering these questions may very well be the solution that they are looking for. The building that Fisher’s Automotive is in was designed to be a warehouse and is not suitable for what they are using it for. It is really run down, old looking, and in need of remodeling. One of the first places that they need to remodel is the office area. By doing that, Fisher’s will be able to showcase...
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...processes of the chosen company. [800 words maximum] Short introduction about the company Nib Insurance Company is an insurance company located in Ethiopia. At the moment, there are sixteen insurance companies in Ethiopia, of which one belongs to the government while others are privately owned. Except for foreign investors, the insurance industry in Ethiopia is open to local investors who full fill the conditions set by the National Bank of Ethiopia. Nib Insurance Company is one of the privately owned insurance companies. According to (www.nibinsuranceethiopia.com), it was established on May 2, 2002 by 818 shareholding members. Currently, the company has 21 branches and 199 staff members and gives a wide range of insurance services to its customers. Concerning the product/services of the company, Nib Insurance Company offers a diversified service to its customers. The company is delivering almost all types of insurance available in the industry. This can be taken as a disadvantage for the company and as an advantage to the customers. It can be taken as a disadvantage for the company because this gives the company a diversification mechanism. On the opposite, this can be taken as an advantage for the customers because they can have alternative choices which mean that a customer can have all services at one place. For example if we take an insurance company that only offers life insurance, this company may be lucrative one year and may cause a great loss the other year. In...
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...LEASE OR FINANCE?? In today’s competitive economy, a vehicle is no longer considered a luxury anymore, but rather a necessity. There are not very many cities in the U.S. where you can live without car. I live in Orlando, Florida and dependable transportation is a mandatory expense. If you want to buy a new car, the cheapest way to buy a car is to pay cash for it. By paying cash you will avoid any finance charges. However, there are not very many people have thirty to fifty thousand dollars to spend on the vehicle. Lease or finance are two main options if you don’t have a lot of cash available to spend on the car. I have chosen the BMW and Infinity dealership to do my analysis. I picked two similar cars form the both dealerships: X5 xDrive35i Sport Activity from BMW and Infiniti FX50 from Infinity dealership. After analyzing financing and leasing options, there is no clear answer on whether to finance or lease a vehicle. It basically all depends on how much money you have, how many miles you drive, how long you want to keep your car for and etc. BMW offers 0.9% APR for 24 month and 3.9% for 25-60 month with $0 down payment to finance the X5 xDrive35i Sport Activity. The price of the vehicle is $57,700. It’s approximately $1,700 per month for 36 months. The lease option is $699 per month for 36 months with $3,000 down payment, $725 acquisition fee, and $4,424 cash is due at signing. The total lease payment is $25,164. At the end of the lease, lessee will be liable for disposition...
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...influence on how products and services are delivered, and to work with the natural environment instead of slowly destroying it. Also people Consumer behavior is deeply influenced by factors, such as buyer’s culture, subculture and social class and age. Each generation will search for, select and purchase a product or service for use and disposal based on personal wants and needs. Each of these groups is a different segment of the market. For example a business wants to cater to those between the ages of 17-30 they do market research to find what type of vehicle appeals to this particular group. 2. Describe the values held by this emerging group of drivers that incline them toward car sharing programs. The drivers who use the car sharing are attracted to the program because of it is affordable. The program can offer access to a car without the stress of car ownership hassles such as routine maintenance and auto insurance, nor will they risk losing their car if they cannot afford to pay it. It is also convenient for low-income households as it enables us they money they would usually use for a car payment toward other household or personal expenses.  Car-sharing services also cater to certain demographics because they provide the practical aspects of car ownership. The increasing business of car-sharing has already begun to encroach on the market for rental cars, and companies such as Hertz and Enterprise have developed their own car-sharing programs to supplement their rental...
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...A potential buyer of a used sports car should take the car on a test drive to to attempt to detect any issues. Also it is critical to consult a professional automotive mechanic to inspect the car. The mechanic will have more knowledge and experience to help analyze the car's current condition.Outward Appearance A sports car's outward appearance can also be an important aspect for a buyer. Usually, looking good is one of the main reasons a potential buyer is looking to purchase a sports car, rather than another type of vehicle. If there are any noticeable flaws in the car's outward appearance, it drives the automobile's price down. For example, if a potential buyer notices a car's paint job is chipped or scratched, it would be less...
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...environmental influence on how products and services are delivered, and to work with the natural environment instead of slowly destroying it. Also people Consumer behavior is deeply influenced by factors, such as buyer’s culture, subculture and social class and age. Each generation will search for, select and purchase a product or service for use and disposal based on personal wants and needs. Each of these groups is a different segment of the market. For example a business wants to cater to those between the ages of 17-30 they do market research to find what type of vehicle appeals to this particular group. 2. Describe the values held by this emerging group of drivers that incline them toward car sharing programs. The drivers who use the car sharing are attracted to the program because of it is affordable. The program can offer access to a car without the stress of car ownership hassles such as routine maintenance and auto insurance, nor will they risk losing their car if they cannot afford to pay it. It is also convenient for low-income households as it enables us they money they would usually use for a car payment toward other household or personal expenses. Car-sharing services also cater to certain demographics because they provide the practical aspects of car ownership. The increasing business of car-sharing has already begun to encroach on the market for rental cars, and companies such as Hertz and Enterprise have developed their own car-sharing programs to supplement...
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...December 20, 2012 Most people that have had the opportunity to own a motorcycle or ride on the back of a one. I can attest to how exhilarating and free the feelings of being one, seamlessly with the motorcycle and nature can be; unfortunately there is a downside to being exposed to nature, without protection of metal and cushion in way a car commonly provides. There is an inevitable risk of serious injury in the event one mistake is made either from the motorcyclist, an operator of a car, bus or truck; ultimately a tragedy may occur if the vehicle operator of either is not paying attention. Congressmen and legislation are not providing the laws, urgency, and incentives to protect the lives of motorcyclist; Congressmen and legislation are contributing to a possible epidemic of “Headless Horsemen” by blindly allowing motorcyclists to have the option of not wearing a helmet while operating these high-speed vehicles. I am a fellow motorcyclist; I have had the pleasure of riding motorcycles since my early twenties (over 17 years). I spent this past year in Orlando, Florida, and coming from Washington, DC, the weather was quite different; it was sunny all the time, and I loved it. I often stated to myself “This is a perfect motorcycle day!” for most of the year, but within the same breath I would see a motorcyclist zoom past me, riding on average 75 miles per hour (mph), without a helmet. My feelings changed immediately from enjoying the beautiful day and wishing...
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...As amended at the April 15-17, 2015, SBOE meeting §130.180. Financial Mathematics (One Credit), Adopted 2015. (a) General requirements. This course is recommended for students in Grades 1011-12. Prerequisite: Algebra I. This course satisfies a high school mathematics graduation requirement. Students shall be awarded one credit for successful completion of this course. (b) Introduction. (1) (2) The Finance Career Cluster focuses on planning, services for financial and investment planning, banking, insurance, and business financial management. (3) Financial Mathematics is a course about personal money management. Students will apply critical-thinking skills to analyze personal financial decisions based on current and projected economic factors. (4) Financial Mathematics will integrate career and postsecondary education planning into financial decision making. (5)(4) The mathematical process standards describe ways in which students are expected to engage in the content. The placement of the process standards at the beginning of the knowledge and skills listed for each grade and course is intentional. The process standards weave the other knowledge and skills together so that students may be successful problem solvers and use mathematics efficiently and effectively in daily life. The process standards are integrated at every grade level and course. When possible, students will apply mathematics to problems arising in everyday life...
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...Leasing vs. Buying a Vehicle The great debate to lease or buy a car? Which one of the two options is the smarter or he better choice? The answer to this question is both and neither are the best options. Confusing one may think so, however, the best way to get to the answer is to ask yourself what is important to you. Every person is different with different values and priorities that determine for them whether leasing or buying is the answer. There are people who desire to drive a new vehicle every few years with little or no maintenance costs. Some people have a strong desire to own the vehicle, as opposed to lower upfront costs with no ownership. One of the two of the biggest temptations for many people to lease verses buying are that the monthly costs to lease are cheaper than the monthly payments to buy a car. The other is that they are able to have a new car every 2-3 years, as opposed to the people who purchase. People who purchase generally hold on to the car for an additional 2 years after the last car payment. Let’s review the pros and cons of leasing. The advantages of leasing are it offers lower monthly payment and the ability to drive a new car with all the new bells and whistles every 2-3 years (ehow). There is a tax benefit of paying lower taxes since the individual is paying the taxes on the monthly payments verses the full value of the car. From the two examples so far it appears that leasing is a great situation, and everyone should lease; once...
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...Providence, Rhode Island ENVIRONMENTAL ANALYSIS: Automobile insurance Industry Course: MGMT 6800 Yimeng Zhang October 4, 2014 Automobile insurance Industry- Environmental Analysis The motor vehicle insurance, refers to a kind of commercial insurance that offer liable for compensation to life or personal injury or property damage caused by motor vehicles due to natural disasters or accidents. Car insurance is a kind of property insurance. In the field of property insurance, motor insurance belongs to the young categories of insurance. This is because the car insurance comes and develops with the emergence and popularity of the car and. 1. Strategically Relevant Factors in the Macro-Environment-PESTEL Analysis PESTEL analysis focuses on the six principal components of strategic significance in the macro-environment: political factors, economic conditions, sociocultural forces, technological factors, (natural) environmental forces, and legal/regulatory factors. These are the significance factors of one industry varies and management will focus primarily on those with the greatest effect on their company. The most important factor in the vehicle insurance industry is Economic Factors. a. Political and legal factors The Automobile Insurance industry does not receive any direct assistance from the federal government in the form of tariffs. However, the National Association of Insurance Commissioners (NAIC) provides a forum for the development of uniform...
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...great service to its members by being able to let them reserve a car a year or even minutes in advance charging an hourly rate or for the day. There is not hassle with a Zipcar automobile, the hourly fee usually as low as $4.50 (depending on the city) covers all expenses from fuel, insurance and maintenance. This way of car sharing through memberships is very unique and it really goes into how through the use of modern technology (self-service) one can create a revolutionizing business or concept. Zipcar’s service solves an overwhelming need for young adults living in the city (generation Y). Zipcar targets those individuals who live in dense metropolitan areas. College students also benefit from this type of service, those that are in big state schools or universities. The issues of parking, insurance and monthly car payments are long gone with Zipcar’s business concept. They really meet exactly what the customer was looking for, which is to be able to use a car or automobile for a short time period and not worry about the big problems that arise when owning a car in any big, dense city which is parking, gas and insurance. This concept in a way gives members a perception that they own the vehicles per say, but with the a lot less responsibility/commitment. Today many firms within...
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...S-Class 9.4 / 10 4. 2011 Lincoln MKZ 9.2 / 10 5. 2011 Honda CR-Z 9.2 / 10 (Listing provided by Kelley Blue Book, www.kbb.com, 2012) “The 2012 Toyota Prius C is the number one choice of consumers. The biggest advantages begin with the low starting price below $20,000. It has an augmented body and great battery and powertrain position. It is great for fuel economy as it allows better than 50 miles per gallon. The size of this vehicle is also admirable because it is convenient when trying to find a place to park. The gas engine is conjoined with an electric motor and the system also holds braking energy in a nickel metal hydride battery and uses it to power the 45-kilowatt electric motor, which can operate the car by itself under low acceleration. The car's gas engine is a 1.5-liter four-cylinder and the combined achievement of the gas engine and electric motor in the Prius C is 99 horsepower. Not a substantially high number but good enough to keep up with other similar vehicles. This vehicle is the first in its brand to...
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...N A D I A N A U T O M O B I L E A S S O C I AT I O N The information in this booklet applies to household vehicles, not business use. Organizations operating fleets of vehicles or paying employee allowances for personal vehicles should contact Runzheimer International for information regarding their services. www.runzheimer.com Vehicle Expenses National Average Costs Average Annual Operating Costs Average Annual Ownership Costs Annual Driving Costs How to Calculate Your Vehicle Expenses Your Vehicle and Your Business 3 4 4 5 6 8 11 C A N A D I A N A U T O M O B I L E A S S O C I AT I O N Driving Costs 2011 2 Driving Costs 2011 Beyond the price tag: Understanding your vehicle’s expenses Whether you buy new or used, there’s more to the cost of your vehicle than the purchase price. Fuel, maintenance, depreciation—all kinds of factors add to your total cost of ownership. Since transportation is an average household’s second largest expense, it makes sense to get the full picture of what you’re spending each year to keep your vehicle on the road. That’s why the Canadian Automobile Association developed this booklet. By giving national averages and approximate figures as guidelines, Driving Costs helps you make the calculations you need to build an accurate transportation budget. VEHICLE EXPENSES All the average costs we’ve cited are for vehicles operating under mostly stop-and-go driving conditions. Costs are weighted by the population of each province to...
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... | | | |You will receive a “consumer profile” showing 1) your annual net income, 2) description of your lifestyle, 3) the amount of down payment you will put down, 4) | |the time period you will have to pay off the loan, and 5) the APR for the loan you will take out. Using that information, make a list of your NEEDS and WANTS | |for a new car using the table on page 2. You may want to add some details to your consumer’s profile. | |Calculate how much money you can spend on car expenses (loan + gas + insurance +...
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