United Kingdom (UK) Charity Insurance Market Dynamics, Trends, Opportunities and Future Market

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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 how the lack of consumer spending created a tough environment.

The UK charity insurance market report explores charities’ purchasing behaviors and preferences for insurance. New trends and innovations are highlighted, as well as the key factors that will influence the market to move forward are covered in this report.

Market Size (2023) GBP1.04 billion
Key Products Public Liability Insurance

Employers’ Liability Insurance

Property Insurance

Professional Indemnity Insurance

Cyber Insurance

Key Purchasing Channel Broker

Bank

Direct

Price Comparison Websites (PCWs)

Key Purchasing Method Bought Online

Auto-renewal

Over the Phone

Face-to-face/In person

By Post

Key Insurance Provider Zurich

Aviva
AXA

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UK Charity Insurance Market Segmentation by Products

Public liability insurance, employers’ liability insurance, property insurance, professional indemnity insurance, and cyber insurance are the key products in the UK charity insurance market. In 2023, public liability insurance led the market, followed by employers’ liability insurance and property insurance.

UK Charity Insurance Market Analysis by Products, 2023 (%)

UK Charity Insurance Market Analysis by Products, 2023 (%)
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UK Charity Insurance Market Segmentation by Purchasing Channel

The majority of the NPOs (including charities) purchased their insurance in packages in 2023. Companies frequently combine insurance products such as liabilities and indemnities for more efficient coverage. In terms of the purchasing channel, the broker was the most preferred option, followed by bank, direct, and PCWs in 2023. The efficient distribution of commercial insurance depends on these brokers, which is why insurers must value broker relationships highly.

UK Charity Insurance Market Analysis by Purchasing Channel, 2023 (%)

UK Charity Insurance Market Analysis by Purchasing Channel, 2023 (%)
Buy the Full Report for Additional Purchasing Channel-Wise Insights in the UK Charity Insurance Market, Download a Free Sample Report

UK Charity Insurance Market Segmentation by Purchasing Method

The insurance purchasing method landscape has evolved in recent years with a shift toward online sales. The key insurance purchasing methods in the UK charity market are bought online, auto-renewal, over the phone, face-to-face/in person, and by post. In 2023, most of the insurance products in the UK charity insurance market were bought online. This increase can be ascribed to the impact of digitalization, which has enabled and simplified online product purchases.

UK Charity Insurance Market Analysis by Purchasing Method, 2023 (%)

UK Charity Insurance Market Analysis by Purchasing Method, 2023 (%)
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UK Charity Insurance Market – Competitive Landscape

The leading companies offering insurance products to the NPOs (including charities) in the UK are Zurich, Aviva, and AXA. In 2023, Zurich took the lead in the UK charity insurance market, followed by Aviva and AXA. The companies have been offering insurance products and services catering to the evolving demand from the consumers. Zurich, for example, offers a charity insurance product starting at GBP96 per year. This product has been designed to meet the unique needs of NPOs. The company also actively engages in philanthropy through its Community Trust, which strengthens its dedication to the non-profit sector.

UK Charity Insurance Market Analysis by Companies, 2023 (%)

UK Charity Insurance Market Analysis by Companies, 2023 (%)
Buy the Full Report for Additional Company-Wise Insights in the UK Charity Insurance Market, Download a Free Sample Report

Scope

• The insurance market for NPOs is expected to have increased to GBP1.04 billion in 2023, growing by 6.6%.

• The market experienced shifts in 2023, as indicated by the rise in uptake of 11 out of 16 products. Professional indemnity experienced the greatest increase of 19.7 percentage points.

• Brokers are essential, facilitating 61.6% of insurance policies. Even though this percentage was marginally lower than in 2022, it still shows how important brokers are today. In 2023, 57.2% of policies were bought online, up from 34.1% in 2019. This increase can be ascribed to the impact of digitalization.

Key Highlights

  • The insurance market for NPOs is expected to have increased to GBP1.04 billion in 2023, growing by 6.6%.
  • The market experienced shifts in 2023, as indicated by the rise in uptake of 11 out of 16 products. Professional indemnity experienced the greatest increase of 19.7 percentage points.
  • Brokers are essential, facilitating 61.6% of insurance policies. Even though this percentage was marginally lower than in 2022, it still shows how important brokers are today. In 2023, most policies were bought online as compared to those purchased in 2019. This increase can be ascribed to the impact of digitalization.

Reasons to Buy

  • Identify the UK charity insurance market leaders.
  • Understand the NPO landscape.
  • Discover the purchasing journey of charities in the sector.
  • Identify growth opportunities in the NPO space.
  • Find out which value-added services are in demand.

Benefact Group
Nationwide
Zurich
Aviva
AXA
Hiscox
Ecclesiastical
Zixty
Lemonade
Access Insurance
Endsleigh Insurance

Table of Contents

Executive Summary

Non-Profit Organization Landscape

Product Uptake and Packages

The Purchasing Journey

Providers and Switching

Future Market

Appendix

Frequently asked questions

United Kingdom (UK) Charity Insurance Market Dynamics, Trends, Opportunities and Future Market standard reports
Currency USD
$3,450

Can be used by individual purchaser only

$10,350

Can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company


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