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Analyst Opinions
NewImpact of Inflation on United Kingdom (UK) Insurance, 2023 Update
Impact of Inflation on UK Insurance Market Report Overview In 2023, UK inflation dropped from 10.4% in January to 4.0% in December. Economic growth flatlined in the year, with the economy falling into recession in Q4 after two consecutive quarters of negative GDP growth. The top three financial concerns for UK insurance consumers are paying monthly bills, the overall impact of the cost-of-living crisis, and saving for a comfortable retirement. The ‘Impact of Inflation on United Kingdom (UK) Insurance, 2023...
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Product Insights
United Kingdom (UK) Charity Insurance Market Dynamics, Trends, Opportunities and Future Market
United Kingdom (UK) Charity Insurance Market Report Overview The gross written premiums (GWP) in the non-profit insurance (including charities) in the United Kingdom (UK) was estimated at GBP1.04 billion in 2023. Voluntary organizations are essential in many different fields. Of these, social services make up the largest portion, accounting for almost one-fifth of the sector's total size. The public provides nearly half of the voluntary sector's income, with the government providing for nearly one third of it as well, explaining...
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Thematic Analysis
Insurance Predictions in 2024 – Thematic Intelligence
Accessing in-depth insights from the ‘Insurance Predictions in 2024’ report will help in: Analyzing the major themes that will impact the insurance industry in 2024. Identifying the top 15 themes impacting the insurance industry - Personalization, Wellbeing, Embedded Insurance, Insurtech, Parametric Insurance, Cyber Insurance, ESG - Environmental (Nat Cat), Electric Vehicles, AI, Big Data, IoT, Future of Work, Inflation, ESG, and Geopolitics. Exploring a wide range of capabilities that insurers, reinsurers, and brokers can utilize to transform their services and...
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Sector Analysis
United Kingdom (UK) Black Friday – Analysing Buying Dynamics, Channel Usage, Spending and Retailer Selection
United Kingdom (UK) Black Friday Market Report Overview The proportion of consumers shopping during the Black Friday promotional period rose marginally by 0.2ppts in 2023. Although shopper penetration increased in 2023, the size of the Black Friday occasions market in the UK is expected to decrease in the coming years. This is due to the falling average consumer spending across several key categories, with notable drops in the electricals & technology and home appliances sector. The UK Black Friday market...
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Product Insights
United Kingdom (UK) SME Insurance Market Size, Trends, Competitor Dynamics and Opportunities
United Kingdom (UK) SME Insurance Market Report Overview The UK SME insurance market generated gross written premiums (GWP) worth GBP15.52 billion in 2023. The primary factor contributing to GWP growth in 2023 was a large year-round hardening of premiums. The rise in claims expenses, which were often passed on to customers, also contributed to the overall increase in GWP. Various insurance categories witnessed substantial increases in the cost of coverage, primarily due to inflationary pressures and challenges in the global...
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Company Insights
Aviva – Digital Transformation Strategies
Aviva Digital Transformation Strategies Overview Aviva is strengthening its focus on the use of innovative technologies to enhance its digital capabilities. AI, big data, insurtech, regtech, and cyber insurance are among the technologies the company is concentrating on. The annual ICT spending of Aviva is estimated at $506.5 million for 2023. A major share of this spending is earmarked for acquiring software, ICT services, and network and communications from vendors. Aviva is a multinational insurance and financial services group offering...
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Product Insights
United Kingdom (UK) SME Insurance Market Size, Trends, Competitor Dynamics and Opportunities
United Kingdom (UK) SME Insurance Market Report Overview Despite the significant economic challenges faced by small and medium-sized enterprises (SMEs) in recent years, the number of SMEs still increased in the UK in 2023. This growth highlights the importance of these companies as a source of business growth in the commercial insurance sector. Since SME switching behavior has increased, insurers should offer cheaper or more affordable policies. The UK SME insurance market research report presents information on the leading insurers...
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Thematic Analysis
Cybersecurity in Medical Devices – Thematic Intelligence
Cybersecurity in Medical Devices Thematic Report Overview Cybersecurity remains a priority for enterprises including the healthcare industry. Weak cybersecurity measures put companies at serious risk as cyber attackers use extremely sensitive and confidential consumer data for their illicit gains. For instance, pharma companies have proprietary scientific data and intellectual property, medical device companies develop connected devices, and healthcare companies collect and utilize patient data. Additionally, operational functions are often literally matters of life and death. Any data security breach will...
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Thematic Analysis
Banking Predictions for 2024 – Thematic Intelligence
Exploring in-depth trends and insights from the ‘Banking Predictions for 2024’ report will enable you to: Analyze the major themes that will impact the banking industry in 2024. Identify the top 20 themes impacting the banking industry – artificial intelligence, cybersecurity, the future of work, cloud computing, blockchain and cryptocurrencies, fintech, internet of things, big data, social media, financial wellness, digital lending, digital banking, conversational platforms, personalization, data privacy, and open banking. Understand a wide range of disruptive themes that...
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Sector Analysis
Germany Defense Market Size, Trends, Budget Allocation, Regulations, Acquisitions, Competitive Landscape and Forecast to 2028
Germany Defense Market Report Overview The Germany defense budget is worth $51.2 billion in 2023. Germany has been working to increase its defense spending over the coming years to bolster the country's military capabilities, modernize its armed forces, and fulfill its commitments to collective defense within NATO. As a result of the above-mentioned factors, the country’s defense budget is anticipated to grow at a CAGR of more than 4% during 2024-2028. Germany Defense Market Outlook, 2023-2028 ($ Billion) Buy the...