Personal Accident and Health Insurance in the UK, Key Trends and Opportunities to 2018


#212434

260pages

Timetric

$ 1950

In Stock

Synopsis

The report provides in-depth market analysis, information and insights into the UK personal accident and health insurance segment, including:
  • The UK personal accident and health insurance segment’s growth prospects by insurance categories
  • Key trends and drivers for the personal accident and health insurance segment
  • The various distribution channels in the UK personal accident and health insurance segment
  • The detailed competitive landscape in the personal accident and health insurance segment in the UK
  • Detailed regulatory policies of the UK insurance industry
  • A description of the personal accident and health reinsurance segment in the UK
  • Porter's Five Forces analysis of the personal accident and health insurance segment
  • A benchmarking section on the UK personal accident and health insurance segment in comparison with other countries with GWP>$150 billion

Executive summary

The UK personal accident and health insurance segment registered as the fastest growing in the industry, with a review-period (2009–2013) compound annual growth rate (CAGR) of 3.8%, despite low individual investments and consumer confidence levels as a result of the financial and debt crisis. The segment accounted for 3.4% of the total gross written premiums in 2013. Growth was partly attributed to an increase in outbound travel, rising healthcare expenditure, economic improvements and perceived inadequacies in the government-funded universal healthcare scheme, and growing awareness of the benefits of personal accident and health insurance. These factors, coupled with the rise in per capita annual disposable income and the aging population, are expected to support the segment over the forecast period (2013–2018). As such, the segment’s gross written premium is projected to increase at a forecast-period CAGR of 2.3%.

Scope

This report provides a comprehensive analysis of the personal accident and health insurance segment in the UK:
  • It provides historical values for the UK personal accident and health insurance segment for the report’s 2009–2013 review period and forecast figures for the 2013–2018 forecast period.
  • It offers a detailed analysis of the key sub-segments in UK personal accident and health insurance segment, along with market forecasts until 2018.
  • It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions.
  • It analyses the various distribution channels for personal accident and health insurance products in the UK.
  • Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in the UK for the personal accident and health insurance segment.
  • It provides a detailed analysis of the reinsurance segment in the UK and its growth prospects.
  • It profiles the top personal accident and health insurance companies in the UK and outlines the key regulations affecting them.

Reasons to buy

  • Make strategic business decisions using in depth historic and forecast market data related to the UK personal accident and health insurance segment and each category within it
  • Understand the demand-side dynamics, key market trends and growth opportunities within the UK personal accident and health insurance segment
  • Assess the competitive dynamics in the personal accident and health insurance segment, along with the reinsurance segment
  • Identify the growth opportunities and market dynamics within key product categories
  • Gain insights into key regulations governing the UK insurance segment and its impact on companies and the market's future

Key highlights

  • The UK's personal accident and health insurance segment registered as the fastest growing in the industry, with a review-period (2009–2013) compound annual growth rate (CAGR) of 3.8%.
  • The country has both a public health service – the NHS – as well as private health system.
  • As of 2012, the NHS provided services to 85% of the population, while private health providers accounted for the remaining 15%.
  • The increasing trend towards private health insurance was due to long waiting times and limited availability of specialists who accept NHS patients.
  • In terms of gross written premium, the personal accident category accounted for the second-largest share of the personal accident and health segment in 2013, with 24.7%.
  • The UK travel insurance category is slowly recovering after a bad phase during the global economic slowdown.