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Product Insights
NewUnited Kingdom (UK) Travel Insurance Distribution Dynamics by Channels and Future Market, 2023 Update
United Kingdom (UK) Travel Insurance Market Report Overview The UK travel insurance market research report offers insights into consumer purchasing decisions within the travel insurance scenario and discusses their influence on the market over the next few years. In 2023, more than 24% of travel insurance purchases were via PCWs, which suggests that consumers want more details from their providers about their coverage levels, policy options, and premium pricing. Additionally, single-trip policies maintained their popularity during the year Leading Distribution...
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Analyst Opinions
NewUnited Kingdom (UK) Personal Lines Insurance Distribution Dynamics and Future Market, 2023 Update
This report examines consumer channel preferences in the personal lines space and how these have changed over time, including the drivers behind customers’ choices. It also forecasts the future of personal lines distribution to 2027. We estimate that in 2023, the direct channel remained the preferred choice for personal insurance purchases, accounting for 51.5% of distribution. Meanwhile, we expect the broker channel to have increased its market share to 33.7% in 2023e. On the other hand, we expect the bank...
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Product Insights
United Kingdom (UK) Travel Insurance Market Dynamics, Trends and Opportunities
United Kingdom (UK) Travel Insurance Market Report Overview The UK travel insurance market witnessed a substantial increase in GWP reaching GBP 630.4 million in 2022. While the increase in GWP was substantial, it occurred in the context of a decrease in the number of policyholders. This suggests that growth in GWP is not due to increased demand but rather a result of higher premiums being charged. The market is expected to achieve a CAGR of more than 2% during 2022-2027. UK...
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Sector Analysis
United Kingdom (UK) Travel Insurance – Market Dynamics and Opportunities 2020
This report provides in-depth analysis of the UK travel insurance market. It looks at current and historical market size and profitability, examining changes in premiums and claims. It analyzes the competitive landscape, providing examples of key travel insurance products. The report discusses travel trends and the impact of various socio-political and economic factors, including COVID-19 and Brexit. Forecasts up to 2024 are provided for gross written premiums, and the report also discusses how the market and travel insurance products are...
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Sector Analysis
Targeting the Over-50s with General Insurance
The UK’s over-50s population is growing, which means that the customer segment is a growing opportunity for insurance providers. Those over 50 are often treated and targeted as one segment. However, the over-50s market is highly diverse and should not be treated singularly. Individuals’ lifestyles differ due to a number of factors such as whether they are retired, whether they still have dependent children living at home, their health, and their financial freedom. Acknowledging this should encourage a move away...
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Thematic Analysis
Wearable Tech in Insurance – Thematic Research
This report provides an in-depth analysis of the wearable tech insurance market. It looks at market size as well as claims, contextual and economic factors, regulations, and opportunities. It provides a thorough overview of the market alongside analysis of how the development of wearable technology will impact the insurance value chain. By giving insurers access to detailed biometric and activity data from policyholders, wearable tech has the potential to bring about considerable opportunities for providers. These include enhancing underwriting accuracy,...