-
Analyst Opinions
NewUnited Kingdom (UK) Bancassurance Distribution Dynamics and Future Market, 2023 Update
United Kingdom (UK) Bancassurance Distribution Market Overview Bancassurance represents a strategic alliance between banks and insurance companies, designed to offer customers the convenience of purchasing insurance products in conjunction with banking services. The banking channel accounts for the highest share of total personal and commercial lines distribution in 2023. App purchases through the bank channel increased with no other channel recording a higher proportion of purchases via apps. This could be because of banks’ intensified focus on digitalization, resulting in...
-
Company Insights
Innovation and Patenting activity of RSA Insurance Group Ltd Q4 2023
GlobalData, the industry analysis specialist, has released its latest company patent databook "Innovation and Patenting activity of RSA Insurance Group Ltd Q4 2023". The databook highlights patenting activity of the company in terms of growth in filings and grants, regions protected, impact of various themes, sector applicability of technologies protected. It provides contextual analysis of technical peers, their strategy, dominance (Grant share) and their recent activities. This is an on-demand databook that will be delivered upon request. The report will...
-
Analyst Opinions
NewUnited Kingdom (UK) Personal Lines Insurance Distribution Dynamics and Future Market, 2023 Update
United Kingdom (UK) Personal Lines Insurance Market Report Overview The direct channel was the preferred choice for personal insurance purchases in the UK in 2023. Consumers are increasingly opting for online insurance purchases driving insurers and distributors to continue enhancing their online capabilities. Consumers prioritize affordability and trustworthiness when selecting an insurance provider, regardless of distribution channel. Hence, across all lines of distribution, the primary factors influencing consumers’ choice is either related to the cost of premiums or the provider’s...
-
Product Insights
NewUnited Kingdom (UK) Pet Insurance Distribution Dynamics by Channels and Future Market, 2023 Update
United Kingdom (UK) Pet Insurance Market Report Overview In 2023, less than 40% of all customers renewed their policies with their existing provider. Customers preferred to renew policies for both dog and cat insurance. This year the proportions of customers who shopped around for dog and cat insurance grew by more than 1 pp compared to 2022. The United Kingdom (UK) Pet Insurance Distribution Dynamics by Channels and Future Market report explores how purchasing preferences have changed over time. It...
-
Thematic Analysis
NewCybersecurity – Thematic Intelligence
Cybersecurity Thematic Intelligence Report Overview The prospect of offensive attacks using artificial intelligence (AI) is prompting an increase in cybersecurity budgets as organizations try to understand the impact of generative AI on their security. Both start-ups and maturing cyber companies will be on the radar of larger cybersecurity companies looking for products and talent. Moreover, cybersecurity M&A will be a strong focus during 2024 as a small group of private equity players are buying up numerous cybersecurity companies. Buy the...
-
Product Insights
NewUnited Kingdom (UK) Private Landlord Insurance Market Analysis and Competitive Landscape
United Kingdom (UK) Private Landlord Insurance Market Report Overview The UK residential landlord insurance market gross written premium (GWP) in 2023 was estimated to be GBP911.7 million. The market has mainly been driven by the effects of higher inflation and supply chain disruptions driving up the cost of rebuilding property. Â and will grow at a CAGR of more than 3% during 2023-2028. The growth is attributed to the effects of higher inflation and supply chain disruptions driving up the cost...
-
Product Insights
NewUnited Kingdom (UK) Employers’ Liability Insurance Market Trends, Competitor Dynamics and Opportunities
United Kingdom (UK) Employers’ Liability Insurance Market Report Overview The Gross Written Premiums (GWP) in the United Kingdom (UK) employers’ liability insurance market was GBP2.08 billion in 2023, following strong growth of more than 25% in 2022. Exploring opportunities in the gig economy through partnerships and adapting to the evolving risks posed by robotics are the factors that will drive the UK employers’ liability insurance market growth in the coming years. UK Employers Liability Insurance Market Overview 2022-2027 (GBP Billion)...
-
Analyst Opinions
Impact 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...
-
Sector Analysis
United Kingdom (UK) Commercial Motor Insurance Market Trends, Competitor Dynamics and Opportunities
The gross written premium (GWP) in the UK commercial motor insurance market was valued at GBP5.65 billion in 2022. The UK commercial motor insurance market experienced a marginal decline of 0.3% in gross written premiums (GWP) in 2022 when compared to the preceding year. However, a sharp rise in premiums throughout 2023 will cause significant growth in the market. According to GlobalData forecasts, the UK commercial motor insurance market will bounce back in 2023, driven by soaring premiums due to...
-
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...