Research and Markets: UK Insurance - Creditor, Pet, Travel and Motorcycle Lines Examined
This report provides an overview of the creditor, pet, travel and motorcycle insurance markets in the UK.
Hightlights of this report Include:
–The ratio of annual to single trip cover has been growing in recent years. This has been driven by consumers taking shorter breaks more frequently, travel insurers greater promotion of annual cover and increasing consumer sophistication.
–The penetration rate of pet insurance is growing due to increasing accessibility and affordability. This has been driven primarily by the development of capped policies and growing availability of the product through retail distribution channels.
Changes to the “Rule of 78″ mean that switching is likely to increase and more customers are likely to settle their loans early. Therefore, creditor insurers are going to experience a higher incidence of consumers switching or canceling their PPI policies.
–This overview provides unique market share data, discussions of the key issues that are currently affecting each market and forecasts for the future size and growth of each market up to and including 2008.