UK Personal Insurance Distribution 2010 - Market Research Report On Aarkstore Enterprise Introduction This report provides an analysis of the distribution of personal insurance in the UK. It includes information on the advertising spend and market share of the key players and analyzes the effect of online aggregators in the personal lines sector. It also details notable deals made over the past year and explores the evolving balance between the various distribution channels. Scope *Insight into the latest issuesaffecting the personal insurance market and the impact these are having on distribution. *Data on consumer purchasing behavior and brand loyalty in the UK household and private motor insurance markets, sorted by key demographic groups. *The latest data on the size of the personal insurance market and premium splits by distribution channel. *Forecasts up to 2014 of the market share of different channels in the UK private insurance space. Highlights As of March 2010, the internet was the most popular platform for arranging motor insurance overall, with more than half of all respondents stating that they had used the platform. This Highlights consumers’ confidence in arranging the policies and other financial transactions online without assistance. Overall, the top 10 insurance advertisers spent 1.1%less on advertising in 2008 compared to 2007, dipping from £216.4m overall to £214.0m. This was perhaps indicative of the effect the economic recession had on the insurance sector as a whole, rather than due to a specific trend. Carole Nash insures 300,000motorcycles, which equates to about a quarter of all licensed bikes in the UK. Since acquiring more than 17,000policies from the AA in 2004, Carole Nash has been purchasing motorcycle books from those who do not consider them a core product. For more information pleasevisit : http://www.aarkstore.com/reports/UK-Personal-Insurance-Distribution-2010-52533.html
Reasons to Purchase *Understand consumer purchasing patterns and their attitudes to brand awarenessand aggregators. *Make decisions based on consumers’ use of different platforms for personal insurance arrangement and the shifting trends within the market. *Gain insight into the factors driving changesin distribution and how this is linked to modern technology.
Table of Contents : Overview 1 Catalyst 1 Summary 1 Executive Summary 2 The direct channel gained market share, while brokers saw their share decline 2 The direct channel remains the dominant provider of private motor insurance 2 Banks and building societies hold the largest share of the UK home insurance market 2 The top 10 advertisers increased their expenditure compared to 2008 2 The vast majority of consumers use the internet or telephone to arrange their motor insurance cover 3 Half of all consumers arrange their motor insurance over the internet 3 Consumers aged between 25 and 34 are more likely to arrange their motor insurance online 4 The broker channel has been gradually growing its household insurance market share 4 Brokers distributed an estimated 28%of the private motor insurance GWPin 2009 4 Brokers hold a growing share of the home insurance market 4 Banks and building societies lost personal insurance market share in 2009 5 Bancassurers hold the largest share of the UK household insurance market 5 The presence of affinities has decreased in the UK home and motor insurance markets 6 Affinity groups and retailers saw a slight dip in their private motor market share from 2008 6 Fortis procures significant partnerships to provide Tesco and Toyota with home and motor insurance 6 Over 60%of consumers use an aggregator when purchasing motor insurance 6 A sizeable proportion of aggregator visitors use them for research purposesonly 6 Table of Contents 7 Table of figures 8 Table of tables 9 Personal Insurance Distribution Dynamics 10 For more information pleasevisit : http://www.aarkstore.com/reports/UK-Personal-Insurance-Distribution-2010-52533.html