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UK Private Motor Insurance 2009
Report
Published: June 2009
Pages: 124
Tables: For full details, please email keithw@cmsinfo.com
From: GBP 2809.38 Buy Now!
Research from: Datamonitor
Sector: Financial Services
Introduction
The report is an invaluable guide to the UK private motor insurance market, providing insight into competitor strategies, profitability and performance as well as overall market growth and trends. It examines trends in distribution, such as the growing role of aggregators, identifies the key providers and provides unique market share estimates.
Scope
*Private motor insurance distribution trends analyzed by channel, platform and provider.
*Analysis of the effects aggregators are having on the distribution and underwriting of private motor insurance.
*Detailed market growth and profitability forecasts based on Datamonitor's in-house model and expertise.
Highlights
Many insurers feel that aggregators have resulted in business generally being written by those with the lowest rates. This has meant that insurers that have raised rates have had to, at least temporarily; accept a loss of market share for the affected risks, depressing premium income growth.
Of the top 10 groups, Lloyds Banking Group, through its underwriting vehicle esure, achieved the largest growth in GWP in 2008. According to the HBOS 2008 annual report, this growth was supported by the additional spending on marketing and new business acquisition activities.
Reasons to Purchase
*Understand what motivates consumers to buy motor insurance and which consumers are most likely to switch provider at renewal.
*Benchmark your company against your competitors based on market share data and profitability ratios.
*Develop your future business plans from an informed viewpoint with Datamonitor's market forecast.
The report is an invaluable guide to the UK private motor insurance market, providing insight into competitor strategies, profitability and performance as well as overall market growth and trends. It examines trends in distribution, such as the growing role of aggregators, identifies the key providers and provides unique market share estimates.
Scope
*Private motor insurance distribution trends analyzed by channel, platform and provider.
*Analysis of the effects aggregators are having on the distribution and underwriting of private motor insurance.
*Detailed market growth and profitability forecasts based on Datamonitor's in-house model and expertise.
Highlights
Many insurers feel that aggregators have resulted in business generally being written by those with the lowest rates. This has meant that insurers that have raised rates have had to, at least temporarily; accept a loss of market share for the affected risks, depressing premium income growth.
Of the top 10 groups, Lloyds Banking Group, through its underwriting vehicle esure, achieved the largest growth in GWP in 2008. According to the HBOS 2008 annual report, this growth was supported by the additional spending on marketing and new business acquisition activities.
Reasons to Purchase
*Understand what motivates consumers to buy motor insurance and which consumers are most likely to switch provider at renewal.
*Benchmark your company against your competitors based on market share data and profitability ratios.
*Develop your future business plans from an informed viewpoint with Datamonitor's market forecast.