UK SME Insurance 2011

UK SME Insurance 2011 - The small and medium-sized enterprise (SME) market is very competitive and is currently evolving as the commoditized personal lines market starts to influence and shape it with the development of electronic trading and online distribution channels. This report explores the issues affecting the market and highlights the leading insurers.

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Features and benefits
• Detailed SME research into buying behaviour, insurance needs, and industry differences.
• Data on the top insurers per line of business and distribution channel was used.
• Analysis of how e-trading is evolving in this market.
• Estimated market size and five year forecast.

Table Of Contents
OVERVIEW
Catalyst
Summary

EXECUTIVE SUMMARY
Total SME market is estimated at GWP of £5.2bn
Companies that employ 1–49 employees form the largest part of the SME segment
The number of enterprises grew in 2009 and 2010 after a flat 2008
In 2010, the number of enterprises grew by 2.6% to 4.4 million
More than 99.8% of UK companies are small or medium-sized businesses
What insurance do SMEs buy?
SMEs buy a range of covers
Most SMEs choose to purchase through a broker
57.5% of SMEs approached a broker for their insurance
Price comparison sites are targeting SMEs
The four main comparison sites all offer business insurance
Switching behavior is increasing
More SMEs are switching providers
Small commercial business insurance is now available online
The SME insurance market is showing signs of following the personal lines market
Over half of the brokers surveyed use a marketplace portal
Brokers also use insurers' extranets
Nearly 60% of those brokers that purchase through extranet sites use Aviva's site
Online portals will take off once there are more products on them
45.2% of brokers only need 6 products available
Brokers name Aviva as the leading insurer for small packaged business
17.8% of brokers surveyed place the largest single proportion of their business with Aviva
Total SME market will grow to £6.4bn in GWP by 2015
SME market to grow in line with total commercial market

MARKET CONTEXT
Introduction
Total SME market is estimated at GWP of £5.2bn
Companies that employ 1–49 employees form the largest part of the SME segment
The number of enterprises grew in 2009 and 2010 after a flat 2008
In 2010, the number of enterprises grew by 2.6% to 4.4 million
More than 99.8% of UK companies are small or medium-sized businesses
The number of new companies has grown in the past two years
The number of company liquidations has slowed
SME market by industry
Construction forms the largest part of the SME market
What insurance do SMEs buy?

UK Travel Insurance 2011

The report UK Travel Insurance 2011 includes a discussion of the performance of the major travel insurance competitors, providing data on GWP and market share. It puts this data into context with a discussion of key market issues, and also features a discussion of advertising trends that point towards competitor strategies and market trends.

Features and benefits
• The latest data and market research including information on market size, drivers behind claims and travel trends.
• Insight into advertising expenditure and consumer behaviour in the market.
• An understanding of the competitive environment, new partnerships, and the impact key players are having on the travel insurance market.
• Forecasts of the market’s GWP growth until 2015, based on industry interviews, secondary research and in-house expertise.


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Highlights
The total number of visits abroad by UK residents fell by 6.3% in 2010. This represents a drop from 58.6m to 54.9m. Foreign travel has seen a downturn since 2008, with an average rate of decline at 5.3% between 2006 and 2010.

AXA continued to hold the largest share of the travel insurance market in 2010, with 20.2%, representing a GWP of £154.3m. This was however both a decrease in GWP – down by 2.0% - and market share, with a 1.0% decline. Performance is expected to improve with a continued partnership with Lloyds TSB and the new account with TUI.

Single trip polices were the most popular choice of travel insurance coverage for all age bands except for the oldest group, 55-65 year olds. 18-24 year olds were the most likely to purchase single trip polices, with 54.7% of respondents selecting this option.

Life Insurance in India, Key Trends and Opportunities to 2015

Published: November 2011
No. of Pages: 242
Price: $ 1950


Synopsis
The report provides top-level market analysis, information and insights of the Indian life insurance industry, including:
• The Indian life insurance industry’s growth prospects by product category and customer segment
• The various distribution channels in the Indian life insurance industry
• The competitive landscape in the life insurance industry
• A description of the life reinsurance market in India

Executive Summary
India’s insurance sector is expected to grow even faster than the country’s overall economic growth, opening up new business avenues across the industry. With a large number of insurance providers already operating in the country, the Indian insurance industry has shown early signs of entering a consolidation phase, and an improved distribution infrastructure, the adoption of new channels and differentiated product offerings will continue to change the competitive landscape significantly.
India’s low life insurance penetration rate and the rising awareness of the need for insurance will be key growth factors in the Indian insurance industry. Favorable foreign investment policies and increased capital-raising options will also create an environment for collaborations and joint ventures. India’s reinsurance market is also expected to continue growing, driven mainly by growth in non-life and accident and health insurance."

Scope
This report provides a comprehensive analysis of the life insurance market in India:
• It provides historical values for India’s life insurance industry for the report’s 2006–2010 review period and forecast figures for the 2011–2015 forecast period
• It offers a detailed analysis of the key sub-segments in India’s life insurance industry, along with market forecasts until 2015
• 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 life insurance products in India
• Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in India for the life insurance business
• It provides a detailed analysis of the reinsurance market in India and its growth prospects
• It profiles the top life insurance companies in India, and outlines the key regulations affecting them

Reasons To Buy
• Make strategic business decisions using top-level historic and forecast market data related to the Indian life insurance industry and each sector within it
• Understand the demand-side dynamics, key market trends and growth opportunities within the Indian life insurance industry
• Assess the competitive dynamics in the life insurance industry, along with the reinsurance segment
• Identify the growth opportunities and industry dynamics within seven key product categories
• Gain insights into key regulations governing the Indian insurance industry and its impact on companies and the industry's future

Key Highlights
• The significant growth in the Indian life insurance market in the review period can be attributed to key growth drivers such as population growth, robust economic growth, lucrative tax benefits, the rising disposable income of India’s middle-class population, and increased awareness of the need for insurance, especially among younger people
• India is the world’s twelfth-largest life insurance market, and the fourth-largest in the Asia-Pacific region
• By 2015, it is expected to surpass South Korea to emerge as the third-largest life insurance Asia-Pacific market after China and Japan
• In 2010, the individual life insurance segment accounted for 74.8% of the total Indian life insurance industry, whereas the group life insurance market had a considerably lower market share of 25.2%
• Indian customers are increasingly demanding insurance products that offer assured income through annuities
• Distribution channels such as bancassurance have gained significant market share in the review period