United Kingdom (UK) Travel Insurance Distribution Dynamics by Channels and Future Market, 2023 Update

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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 Channels •       Price Comparison Website (PCW)

•       Insurers

•       Banks

•       Brokers

•       Affinity

Leading Providers •       Admiral

•       Staysure

•       Aviva

•       Nationwide

•       Post Office

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UK Travel Insurance Market Outlook

Embedded insurance, parametric travel insurance, and insurance against extreme weather events are a few themes that will impact the UK travel insurance market.

Parametric travel insurance: It offers predefined payouts based on specific triggers or events, rather than traditional claims assessments. It operates on a predetermined set of conditions, such as flight cancellations due to specific weather conditions. In case conditions occur, policyholders receive a pre-agreed payout, simplifying the claims process and providing quicker compensation.

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UK Travel Insurance Market Segmentation by Distribution Channels

In 2023, PCW accounted for the highest channel share in the UK travel insurance market

The preferred channels used by customers when purchasing travel insurance in the UK market are price comparison websites (PCW), insurers, banks, brokers, and affinity, among others.

The banking channel recorded a market share increase in 2023 compared to the previous year. Some banks offer multi-trip policies as add-ons with other products or services, such as bank accounts and travel reward programs. This bundling makes them more appealing to consumers due to the added convenience of having insurance included with other services. Hence, such policies are responsible for the increase in banking channel share.

UK Travel Insurance Market Analysis by Distribution Channels, 2023 (%)

UK Travel Insurance Market Analysis by Distribution Channels, 2023 (%)

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UK Travel Insurance Market - Competitive Landscape

In 2023, Admiral had the highest share among the providers of the UK travel insurance market

A few of the leading travel insurers in the UK are:

  • Admiral
  • Staysure
  • Aviva
  • Nationwide
  • Post Office

In 2023, while Admiral was the leading travel insurance provider in the insurer channel, while Staysure was the leading provider in the broker channel.

UK Travel Insurance Market Analysis by Providers, 2023 (%)

UK Travel Insurance Market Analysis by Providers, 2023 (%)

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Segments Covered in the Report

UK Travel Insurance Distribution Channel Outlook (2023)

  • Price Comparison Website (PCW)
  • Insurers
  • Banks
  • Brokers
  • Affinity


• In 2023, 24.6% of travel insurance purchases were via PCWs. However, PCWs’ market share decreased by 1.8pp compared to 2022.

• In 2023, the proportion of customers who renewed automatically increased by 6.8pp compared to 2022.

• Tesco Bank entered the top 10 in 2023, replacing Coverwise.

Reasons to Buy

  • Understand consumer purchasing decisions in the travel insurance space and how these will influence the market over the next few years.
  • Improve customer engagement by recognizing customer preferences and adapting products and services to meet their needs.
  • Compare the Net Promoter Scores of key providers.
  • Discover which providers lead the way in the travel insurance space and learn about new product innovations.
  • Adapt your distribution strategy to ensure it still meets customer purchasing behaviors.

Post Office
AXA / AXA Assistance
Tesco Bank
Lloyds Bank
Direct Line
Holiday Extras
Go Travel Insurance
Virgin Money
Bank of Scotland
Royal Bank of Scotland
TSB Bank
American Express
M&S Bank
Sainsbury’s Bank
John Lewis
Compare the Market
Sensible Weather

Table of Contents

Executive Summary

The Purchasing Journey

Providers and Switching

Channel View

Future Market


Frequently asked questions

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