UK Private Motor Insurance Market Share , Size , Definition , Treatment , Symptoms , Causes , Pipeline Review , H2 2016
UK Private Motor Insurance Market Share , Size , Definition , Treatment , Symptoms , Causes , Pipeline Review , H2 2016
Summary The UK Private Motor Insurance market is a highly competitive market . Insurers are struggling to make their books profitable , as claims continue to prove challenging . The number of insurers active in this market makes it hard to generate rate increases on top of the rise in insurance tax . With more regulation likely , insurers are continually looking at different ways to deliver competitive advantage .
Synopsis Verdict Financial ' s “ UK Private Motor Insurance : Competitor Dynamics ” report is one of a series of reports providing a high-level look into insurer activity during the last year within a product area , and benchmarks the leading insurers against each other . Each report looks at the top 10-20 players to see how they have performed , but also to see how they have changed their overall proposition .
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Key Findings - The top 10 insurers account for 65.5 % of the market .
- Co-op Insurance replaced RSA in the top 10 private motor insurers list . - Half of the top 11-20 private motor insurers reported GWP growth in 2015 . - Covea delivered a profitable book , while others struggled .
Reasons To Buy - Benchmark yourself against other players in the market .
- Adapt your proposition to gain competitor advantage .
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