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UK Term Assurance 2007 (Datamonitor)
- Market: Finance and Banking
- Published Date: 16/05/2007
- Report Title: UK Term Assurance 2007
- Table of Contents: View Table of Contents
- Report Type: Market Report
- Country: UK
- Number of Pages: 46
Introduction
Examines the market for Term Assurance in the UK. Looking at the issues market has faced and what the likely challenges are in the future.
Scope
Uses ABI and Swiss re data on new business premiums and policy sales to size the mortgage related and savings related Term Assurance markets Utilizes extensive primary research to examine the issues that the market has been facing and what the likely outlook for the future is Profiles the key competitors in the Term Assurance market. Provides forecasts for the development of the savings related, mortgage related and rider products in the market to 2011.
Highlights
The total UK protection market has shrunk over the last five years however the poor performance of term assurance has not simply been a reflection of the declining market, the share of the market accounted for my term assurance has also declined between 2002 and 2006. Term life insurers are moving in a difficult environment: Consumers dislike life insurance and, to some degree, feel they can't trust providers to keep their promise. Price has turned into the defining feature for term assurance and, as is a comparatively simple construct, the product has reached a high degree of commoditization.
Reasons to Purchase
Market context: Observe how the Term Assurance market has progressed over the last five years and identify the top providers for these products. Market data: Understand the Term Assurance market, the distribution trends and the key drivers of Term Assurance new business. Market forecast: Identify the future of the market & gain valuable insight into how to react to these latest developments.
Examines the market for Term Assurance in the UK. Looking at the issues market has faced and what the likely challenges are in the future.
Scope
Uses ABI and Swiss re data on new business premiums and policy sales to size the mortgage related and savings related Term Assurance markets Utilizes extensive primary research to examine the issues that the market has been facing and what the likely outlook for the future is Profiles the key competitors in the Term Assurance market. Provides forecasts for the development of the savings related, mortgage related and rider products in the market to 2011.
Highlights
The total UK protection market has shrunk over the last five years however the poor performance of term assurance has not simply been a reflection of the declining market, the share of the market accounted for my term assurance has also declined between 2002 and 2006. Term life insurers are moving in a difficult environment: Consumers dislike life insurance and, to some degree, feel they can't trust providers to keep their promise. Price has turned into the defining feature for term assurance and, as is a comparatively simple construct, the product has reached a high degree of commoditization.
Reasons to Purchase
Market context: Observe how the Term Assurance market has progressed over the last five years and identify the top providers for these products. Market data: Understand the Term Assurance market, the distribution trends and the key drivers of Term Assurance new business. Market forecast: Identify the future of the market & gain valuable insight into how to react to these latest developments.
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