Direct Insurance Market Assessment 2007: Industry Research Report

Direct Insurance Market Assessment 2007

Published Date: April 2007

Published By: Key Note Publications Ltd

Page Count: 238

Order Code: R310-1432

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Description

Table of Contents

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Executive Summary
1. Introduction
OVERVIEW
DEFINITION
2. Strategic Overview
MARKET DYNAMICS AND SEGMENTATION: Market Segmentation; Current Status of the Market; The General Insurance Market; Personal-Lines General Insurance; Direct Insurance; Total Industry Value and Growth; Table 1: The Total UK General Insurance Market by Net Written Premiums (£m and index 2002=100), 2002-2006; Figure 1: The Total UK General Insurance Market by Net Written Premiums (£m), 2002-2006; Table 2: The Total UK Market for General Insurance — UK Risks — by Net Written Premiums (£m and index 2002=100), 2002-2006; Figure 2: The Total UK Market for General Insurance — UK Risks — by Net Written Premiums (£m), 2002-2006; The Largest Sector and Market Share; Table 3: UK General Insurance Premiums† — UK Risks — by Source of Personal-Lines Business (%), 2002-2006; Figure 3: UK General Insurance Premiums† — UK Risks — by Source of Personal-Lines Business (%), 2002-2006; The Fastest-Growing Sectors; The Slowest-Growing Sectors
DISTRIBUTION: Direct Sales Forces; Direct Selling; Company Agents; Independent Intermediaries; Tied Agents; Insurance Brokers; Banks and Building Societies; Telephone-Based Selling; Internet-Based Selling; Retail Chains; Financial `Supermarkets'; Interactive Digital Television; Competitive Structure; Table 4: Banks' Links With Insurers, 2006; Table 5: Direct Insurers' Links with Traditional Insurers, 2006; Significant Players; Table 6: The Top 16 General Insurers by Gross Written Premiums, 2004 and 2005; Non-UK Sectors; Most Significant Outlet
ADVERTISING: Main Media Advertising Expenditure; Table 7: Main Media Advertising Expenditure by Leading General Insurers (£000), Year Ending September 2006; Direct Sales
THE CONSUMER: Who is the Consumer?; Consumer Loyalty; Consumer Factors Affecting the Market
REGULATION: Markets in Financial Instruments Directive; Third Money Laundering Directive; Unfair Commercial Practices Directive; Solvency 2 Directive; Insurance Guarantee Schemes Directive; Financial Ombudsman Service; Table 8: Number of Complaints About General Insurance to the Financial Ombudsman Service, 2002/2003-2005/2006; Figure 4: Number of Complaints About General Insurance to the Financial Ombudsman Service, 2005/2006
MARKET FORECASTS: Market Size; Future Prospects for Direct Insurance; Future Impact of Regulatory Changes and Growth in E-Business
3. Motor Insurance
BACKGROUND
MARKET SIZE: Table 9: UK Domestic Motor Insurance† by Net Written Premiums (£m and index 2002=100), 2002-2006
MARKET SHARE: Table 10: The Top 20 Private Motor Insurers by UK Net Written Premiums, 2004 and 2005
CONSUMER TRENDS: Household Expenditure on Motor Insurance; Table 11: Annual UK Household Expenditure on Motor Insurance (£ and %), 2000/2001-2005/2006; Figure 5: Percentage of Households Buying Motor Insurance Per Annum, 2000/2001-2005/2006; Consumer Dynamics; I Buy My Motor Insurance Through a Broker; I Prefer to Buy My Motor Insurance Direct
MARKETING ACTIVITY: Advertising; Home and Motor Insurers; Table 12: Main Media Advertising Expenditure on Home and Motor Insurance (£000), Year Ending September 2006; Motor Insurance; Table 13: Main Media Advertising Expenditure on Motor Insurance (£000), Year Ending September 2006; Online Motor Insurance; Table 14: Main Media Advertising Expenditure on Online Motor Insurance (£000), Year Ending September 2006
DISTRIBUTION: Table 15: UK Personal Motor Insurance Premiums by Source of Business (%), 2002-2006
SUPPLIERS: Table 16: The Top Ten Most Popular Motor Insurance Websites, February 2007
4. House Insurance
BACKGROUND: Buildings Insurance; Contents Insurance
MARKET SIZE: Table 17: UK Domestic Property Insurance† by Net Written Premiums (£m and index 2002=100), 2002-2006
MARKET SHARE: Table 18: The Top 20 UK Domestic Property Insurers by Net Written Premiums, 2004 and 2005
CONSUMER TRENDS: Household Expenditure on House Insurance; Table 19: Annual UK Household Expenditure on House Insurance by Type (£ and %), 2000/2001-2005/2006; Figure 6: Annual UK Household Expenditure on House Insurance by Type (£), 2000/2001-2005/2006; Consumer Dynamics; Buildings Insurance; I Buy My Buildings Insurance Through a Broker; I Buy My Buildings Insurance Direct; Contents Insurance; I Buy My Home Contents Insurance Through a Broker; I Buy My Home Contents Insurance Direct
MARKETING ACTIVITY: Advertising; Buildings and Contents Insurance; Table 20: Main Media Advertising Expenditure on Buildings and Contents Insurance (£000), Year Ending September 2006; Contents Insurance; Table 21: Main Media Advertising Expenditure on Contents Insurance (£000), Year Ending September 2006
DISTRIBUTION: Table 22: UK Property Insurance Premiums by Source of Business (%), 2002-2006
SUPPLIERS: Table 23: The Top Ten Most Popular House Insurance Websites, February 2007
5. Travel Insurance
BACKGROUND
MARKET SIZE
CONSUMER TRENDS: Household Expenditure on Travel Insurance; Table 24: Annual UK Household Expenditure on Non-Package Travel Insurance (£ and index 2001/2002=100), 2001/2002-2005/2006; Consumer Dynamics; I Buy My Travel Insurance Through a Broker; I Buy My Travel Insurance Direct
MARKETING ACTIVITY: Advertising; Table 25: Main Media Advertising Expenditure on Travel and Sport Insurance (£000), Year Ending September 2006
DISTRIBUTION
SUPPLIERS: Table 26: The Top Ten Most Popular Travel Insurance Websites, February 2007
6. Health Insurance
BACKGROUND: Table 27: Percentage of Households with Health Insurance, 2004/2005
MARKET SIZE: Table 28: UK Accident and Health Insurance† by Net Written Premiums (£m and index 2002=100), 2002-2006; Private Medical Insurance; Long-Term Care; Sickness Insurance
MARKET SHARE: Accident Insurers; Table 29: The Top 20 Accident Insurers by UK Net Written Premiums, 2004 and 2005; Health Insurers; Table 30: The Top 20 Health Insurers by UK Net Written Premiums, 2004 and 2005
CONSUMER TRENDS: Household Expenditure on Health Insurance; Table 31: Annual UK Household Expenditure on Medical Insurance (£ and %), 2000/2001-2005/2006; Figure 7: Annual UK Household Expenditure on Medical Insurance (£), 2000/2001-2005/2006; Table 32: Average Weekly Expenditure on Medical Insurance by Gross Income Decile Group (£), 2002/2003, 2004/2005 and 2005/2006; Consumer Dynamics; I Buy My Health Insurance Direct
MARKETING ACTIVITY: Advertising; Table 33: Main Media Advertising Expenditure on Private Healthcare (£000), Year Ending September 2006
DISTRIBUTION
SUPPLIERS: Table 34: The Top Nine Most Popular Health Insurance Websites, February 2007
7. Pet Insurance
BACKGROUND
MARKET SIZE: Table 35: UK Pet Insurance by Net Written Premiums (£m and index 2002=100), 2002-2006; Figure 8: UK Pet Insurance by Net Written Premiums (£m), 2002-2006
CONSUMER TRENDS: Consumer Dynamics; I Buy My Pet Insurance Direct
MARKETING ACTIVITY: Advertising; Table 36: Main Media Advertising Expenditure on Livestock and Pet Insurance (£000), Year Ending September 2006
DISTRIBUTION
SUPPLIERS
8. An International Perspective
MARKET SIZE: Outlook
MARKET BACKGROUND
DISTRIBUTION: Europe; Leading Players; The Netherlands; Italy; France
9. PEST Analysis
POLITICAL FACTORS: The Future
ECONOMIC FACTORS: The Future
SOCIAL FACTORS: The Future
TECHNOLOGICAL FACTORS: The Future
10. Consumer Dynamics
OVERVIEW: Summary of Results; Table 37: Summary of Results (% of respondents), 2005 and 2007
CHOOSING AN INSURANCE COMPANY: I Choose My Insurance Company on the Advice of an Independent Broker; I Choose My Insurance Company on the Advice of my Bank or Building Society; Table 38: Choosing an Insurance Company (% of respondents), 2007
DIRECT PURCHASING OF INSURANCE POLICIES: I Buy My Insurance Company's Own Policies Direct; I Buy My Bank's Own Policies Direct; I Buy My Insurance Direct from a Retailer or Another Non-Financial Company or Service; Table 39: Direct Purchasing of Insurance Policies (% of respondents), 2007
METHODS FOR ARRANGING INSURANCE AND ONLINE SEARCHES: I Want to Arrange My Insurance Face-to-Face with the Insurer; I Want to Arrange My Insurance Direct with the Insurer by Telephone; I Want to Do My Own Online Search Before Choosing My Insurer; Table 40: Methods for Arranging Insurance and Online Searches (% of respondents), 2007
MOTOR INSURANCE: I Buy My Motor Insurance Through a Broker; I Prefer to Buy My Motor Insurance Direct; Table 41: Purchasing of Motor Insurance (% of respondents), 2007
HOUSE INSURANCE: Buildings Insurance; I Buy My Buildings Insurance Through a Broker; I Buy My Buildings Insurance Direct; Table 42: Purchasing of Buildings Insurance (% of respondents), 2007; Contents Insurance; I Buy My Home Contents Insurance Through a Broker; I Buy My Home Contents Insurance Direct; Table 43: Purchasing of Contents Insurance (% of respondents), 2007
TRAVEL INSURANCE: I Buy My Travel Insurance Through a Broker; I Buy My Travel Insurance Direct; Table 44: Purchasing of Travel Insurance (% of respondents), 2007
HEALTH AND PET INSURANCE: I Buy My Health Insurance Direct; I Buy My Pet Insurance Direct; Table 45: Purchasing of Health and Pet Insurance (% of respondents), 2007
CONVENIENT AND CHEAP INSURANCE: I Will Use the Most Convenient Means to Get Insurance Cover; I Want to Get the Cheapest Insurance Cover; Table 46: Convenient and Cheap Insurance (% of respondents), 2007
11. Company Profiles
ADMIRAL GROUP PLC: Corporate Strategy; Strengths and Weaknesses; New Product and Brand Development; Advertising; Distribution; Profitability; Table 47: Financial Results for Admiral Group PLC (£000, % and £), Years Ending 31st December 2003-2005; Future Company Developments; BUPA INSURANCE Ltd; Corporate Strategy; Strengths and Weaknesses; New Product and Brand Development; Advertising; Distribution; Profitability; Table 48: Financial Results for BUPA Insurance Ltd (£000, % and £), Years ending 31st December 2003-2005; Future Company Developments
CHURCHILL INSURANCE COMPANY LTD: Corporate Strategy; Strengths and Weaknesses; New Product and Brand Development; Advertising; Distribution; Profitability; Table 49: Financial Results for Churchill Insurance Company Ltd (£000, % and £), Years Ending 31st December 2003-2005; Future Company Developments
DIRECT LINE INSURANCE PLC: Corporate Strategy; Strengths and Weaknesses; New Product and Brand Development; Advertising; Distribution; Profitability; Table 50: Financial Results for Direct Line Insurance PLC (£000, % and £), Years Ending 31st December 2003-2005; Future Company Developments
ESURE INSURANCE LTD: Corporate Strategy; Strengths and Weaknesses; New Product and Brand Development; Advertising; Distribution; Profitability; Table 51: Financial Results for esure Insurance Ltd (£000, % and £), Years Ending 31st December 2003-2005; Future Company Developments
MORE THAN (ROYAL & SUNALLIANCE INSURANCE PLC): Corporate Strategy; Strengths and Weaknesses; New Product and Brand Development; Advertising; Distribution; Profitability; Table 52: Financial Results for Royal & SunAlliance Insurance PLC (£000, % and £), Years Ending 31st December 2003-2005; Future Company Developments
TESCO PERSONAL FINANCE GROUP LTD: Corporate Strategy; Strengths and Weaknesses; New Product and Brand Development; Advertising; Distribution; Profitability; Table 53: Financial Results for Tesco Personal Finance Group Ltd (£000, % and £), Years Ending 31st December 2003-2005; Future Company Developments
12. Forecasts
MARKET FORECASTS: General Insurance; Table 54: The Forecast Total UK General Insurance Market by Net Written Premiums (£m and index 2007=100), 2007-2011; Table 55: Forecast UK General Insurance Premiums† — UK Risks — by Source of Personal-Lines Business (%), 2007-2011; Figure 9: Forecast UK General Insurance Premiums† — UK Risks — by Source of Personal-Lines Business (%), 2007-2011; Motor Insurance; Table 56: Forecast UK Domestic Motor Insurance† by Net Written Premiums (£m and index 2007=100), 2007-2011; Table 57: Forecast UK Personal Motor Insurance Premiums by Source of Business (%), 2007-2011; House Insurance; Table 58: Forecast UK Domestic Property Insurance† by Net Written Premiums (£m and index 2007=100), 2007-2011; Table 59: Forecast UK Property Insurance Premiums by Source of Business (%), 2007-2011; Other Personal-Lines Insurance
STRATEGIC OPTIONS
BROKER NETWORKS
FUTURE REGULATORY CHANGES
DISTRIBUTION CHANNELS: Interactive Digital Television; Mobile Telephones; The Internet
CONCLUSION
13. Consumer Confidence
METHODOLOGY
KEY FINDINGS THIS QUARTER
THE WILLINGNESS TO BORROW: Confidence Improves; Table A: The Average Amount Consumers Are Willing to Borrow in Order to Purchase Expensive Items at Current and Constant November 2004 Prices (£ and £bn), February 2006-2007; Willingness to Borrow Slips Slightly; Table B: The Number of Adults Willing to Borrow in Order to Purchase Expensive Items (000 and %), February 2006-2007
SPENDING FROM SAVINGS: Slight Increase in Spending from Savings; Table C: The Average Amount Consumers Are Willing to Spend from Savings in Order to Purchase Expensive Items at Current and Constant November 2004 Prices (£ and £bn), February 2006-2007; Saving Grows in Relative Importance; Table D: The Average Amounts Adults Are Confident Spending to Purchase Expensive Items (£ and %), February 2006-2007
14. Further Sources: Associations; Publications; General Sources; Government Publications; Other Sources; Bisnode Sources

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