|[February 28, 2013]
Research and Markets: UK Travel Insurance Report
DUBLIN --(Business Wire)--
Research and Markets (http://www.researchandmarkets.com/research/9scqxf/uk_travel)
has announced the addition of the "UK
Travel Insurance 2012" report to their offering.
The market witnessed a 7.6% fall to £706.3m in 2011, from £764.8m in
2010, according to figures from the Association of British Insurers
(ABI). Industry experts interviewed by Datamonitor attribute this fall
to two key factors; continued low levels of trips abroad, and the
increasing popularity of policies sold alongside added value accounts,
where premiums can be a matter of a few pounds a month.
- In 2011, the percentage of premium income generated from annual multi
trip policies increased by 5.1 percentage points to account for 67.4% of
travel insurance GWP. This recent growth is an extension of a pattern of
steady growth in annual policy popularity over the last five years.
- Travel insurance has widespread product penetration for a
non-compulsory product, with only 8% of consumers not purchasng cover
for their last overseas trip. This product penetration can be explained
by increasing consumer awareness of the benefits of insurance as
potentially high medical costs are highlighted in the press.
- Conditions will remain competitive over the next five years, resulting
in modest premium rate increases, The market will remain an attractive
one in which to write business as a growth in the number of trips abroad
is forecast to increase the number of policies sold.
Key Topics Covered
Brand And Marketing
Key Questions Answered
- What are consumers travelling habits as a result of the economic
climate How has this changed over the last five years
- What will drive claims costs, and what are the options open to
insurers to limit and mitigate claims losses
- Who are the main insurers are who are the leading brands for travel
Reasons To Buy
- Develop strategies to achieve growth in new business as the economic
climate continues to hinder travel abroad.
- Benchmark against your peers within the UK travel insurance market,
analyzing your strengths and weaknesses as a provider.
- Identify new distribution opportunities as consumers look for
alternative avenues such as added value accounts.
- Enhance knowledge of the macro economy and how it drives or inhibits
the sale of travel insurance.
- Admiral Group
- CMS Energy Corporation
- General Mills
- Hutchison 3G (News - Alert) UK
- J Sainsbury plc
- Munich Re
- Parcelforce Worldwide
- Royal Bank of Scotland Group
- Schindler Holding
- STV Group
For more information visit http://www.researchandmarkets.com/research/9scqxf/uk_travel
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