Free Trial
Subscription:
China Economic Review
Financial IT
Financial Services
General Banking & Related Services
Industry Analysis
Investment Banking
Custom Research
Financial Events & Conferences
Contact
About
Terms & Conditions
Privacy
Home >
Claims Management in UK General Insurance 2009
Report
Published: July 2009
Pages: 78
Tables: For full details, please email keithw@cmsinfo.com
From: GBP 2809.38 Buy Now!
Research from: Datamonitor
Sector: Financial Services
Introduction
This report provides a comprehensive analysis of claims costs in the UK general insurance market covering motor, property and liability insurance. The report also provides a detailed discussion on key claims management issues in the UK. It reviews historical claims costs and estimates the future size of the claims bill up to 2014, as well as discussing the drivers behind these forecasts.
Scope
*Detailed analysis of the claims cost efficiency for the 20 most efficient groups in the motor, property and liability insurance markets.
*Extensive claims costs data for the UK motor, property and liability insurance markets.
*A comprehensive analysis of the latest issues affecting claims management in the UK.
*Forecasts of net claims incurred for the motor, property and liability insurance markets until 2014.
Highlights
The overall cost of claims resulting from the major perils insured against by domestic property insurers decreased by 25.2%, to £2.6 billion, in 2008. The primary driver behind this fall was a significant decrease in weather-related claims.
The ratio of total claims management costs to total net claims incurred rose by 0.2 percentage points, from 5.2% in 2007 to 5.4% in 2008, which was primarily due to a decrease in claims efficiency in the UK liability insurance market.
The recession is likely to lead to an increase in property claims relating to theft and arson, placing an upward pressure on claims costs in the short term, while increases in rebuilding costs will increase property insurers' claims costs in the long term.
Reasons to Purchase
*Benchmark your claims handling efficiency against your competitors.
*Understand the key drivers behind claims inflation in the UK property, liability and motor insurance markets.
*Gain an insight into the latest issues affecting claims management in the UK general insurance market.
This report provides a comprehensive analysis of claims costs in the UK general insurance market covering motor, property and liability insurance. The report also provides a detailed discussion on key claims management issues in the UK. It reviews historical claims costs and estimates the future size of the claims bill up to 2014, as well as discussing the drivers behind these forecasts.
Scope
*Detailed analysis of the claims cost efficiency for the 20 most efficient groups in the motor, property and liability insurance markets.
*Extensive claims costs data for the UK motor, property and liability insurance markets.
*A comprehensive analysis of the latest issues affecting claims management in the UK.
*Forecasts of net claims incurred for the motor, property and liability insurance markets until 2014.
Highlights
The overall cost of claims resulting from the major perils insured against by domestic property insurers decreased by 25.2%, to £2.6 billion, in 2008. The primary driver behind this fall was a significant decrease in weather-related claims.
The ratio of total claims management costs to total net claims incurred rose by 0.2 percentage points, from 5.2% in 2007 to 5.4% in 2008, which was primarily due to a decrease in claims efficiency in the UK liability insurance market.
The recession is likely to lead to an increase in property claims relating to theft and arson, placing an upward pressure on claims costs in the short term, while increases in rebuilding costs will increase property insurers' claims costs in the long term.
Reasons to Purchase
*Benchmark your claims handling efficiency against your competitors.
*Understand the key drivers behind claims inflation in the UK property, liability and motor insurance markets.
*Gain an insight into the latest issues affecting claims management in the UK general insurance market.