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Product Insights
United Kingdom (UK) Home Emergency Insurance and Home Services 2021
The UK home emergency market was valued at GBP1.15 billion in 2020. However, the market is projected to decline at a CAGR of more than 2% during the forecast period. This report provides an in-depth analysis of the UK home emergency insurance and home services markets. Topics discussed include both the current and forecasted market sizes, underlying market drivers including claims costs, COVID-19, and housing supply, and customer trends including policy types and demographic trends.
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Thematic Analysis
Demographic Profiles in Insurance – Thematic Research
The insurance industry has long had to adapt to changing demographic environments; in many instances, these are longer term trends allowing the industry time to gradually adapt. However, the continued and rapid development of technology, both in insurance and wider society, has created new nuances specific to demographic factors that were previously undetected. Providers must respond in order to ensure they are meeting the demands of a rapidly evolving and subtly different client base. Changes in demographics will fundamentally shift...
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Thematic Analysis
Climate Change and its Impact on Insurance Market – Thematic Research
Climate change action is now an essential part of an insurer’s overall strategy. Total catastrophe losses around the world were estimated at $83 billion in 2020 according to Swiss Re, while total economic losses from these disasters were estimated at $210 billion as per Munich Re. The insurance industry covered 45% of global economic losses from natural catastrophes in 2020 - higher than the average level of 37% according to Swiss Re (via Insurance Times). The loss figures for 2020...
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Thematic Analysis
ESG (Environmental, Social, and Governance) in Insurance – Thematic Research
With significant evidence that sustainable companies are likely to be more profitable in the long run, the case for environmental, social, and governance (ESG) action is strong in every industry. As institutional investors and underwriters of risk, insurers should use their size and influence to encourage ESG progress in other sectors. For insurers specifically, several trends will shape ESG strategies. These include the rise in global warming-induced severe weather events and COVID-19, which has worsened existing social inequalities. Insurance companies...
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Thematic Analysis
Connected Cars in Insurance – Thematic Research
The global connected cars market size was $27.3 billion in 2020 and the market is expected to grow at a CAGR of more than 7% between 2020 and 2030. A great proportion of the connected car market’s growth will not only be due to the year-on-year expansion of connected vehicles on roads but also due to the utilization of telematics technology. The expansion of the connected car market flags the potential for insurers to integrate personalized aspects of how motor...
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Thematic Analysis
Artificial Intelligence (AI) in Insurance – Thematic Research
Incumbent insurers are increasingly under threat from disruptive insurtech startups. These companies are drawing on technologies such as artificial intelligence (AI), cloud computing, and the internet of things (IoT) to offer a more personalized insurance experience. Additionally, technologies such as machine learning (ML), computer vision (CV), and conversational platforms can enhance customer service, claims processing, and underwriting. The emergence of several specialist tech vendors has meant these tools are now more accessible to the ordinary insurer. The AI in insurance...
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Thematic Analysis
Computer Vision in Insurance – Thematic Research
This report provides an in-depth analysis of the computer vision industry and the different ways computer vision technology is impacting the insurance value chain. It examines the technology’s impact across different lines of business and highlights the key players in the space utilizing computer vision within their operations.
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Thematic Analysis
Impact of China in Insurance – Thematic Research
This report provides an in-depth analysis of the current state of the Chinese insurance market, how it has influenced key trends across the industry, and how it will progress over the next few years.
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Sector Analysis
Finland General Insurance – Key Trends and Opportunities to 2024
GlobalData’s 'Finland General Insurance - Key Trends and Opportunities to 2024’ report provides in-depth market analysis, information and insights into the Finnish general insurance segment. This report provides a detailed outlook by product category for the Finnish general insurance segment. It provides values for key performance indicators such as direct written premium, loss ratio and general insurance penetration during the review period (2015-2019) and forecast period (2019-2024). The report gives a comprehensive overview of the the Finnish economy and demographics,...
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Sector Analysis
United Kingdom (UK) Private Motor Insurance – Market Dynamics and Opportunities 2020
Gross written premiums (GWP) contracted in 2019. This was driven by decreases in both the number of policies sold and the average cost of premiums. The implications of COVID-19 have changed the way that consumers use their vehicles, creating a greater demand for usage-based insurance (UBI) products. COVID-19 has also postponed the highly anticipated Civil Liability Act until 2021. The outcome of Brexit also remains unclear, with an expectation that basic coverage will no longer be available for UK drivers...