General Insurance Overview - UK - December 2009
This report considers broad trends in the general insurance marketplace, such as changes in distribution and the impact of the recession. It also examines the key players in the general insurance market and the performance of key personal lines markets including home, motor and health insurance.
- According to Mintel’s consumer research around 11 million adults don’t trust insurers to pay out in the event of a claim.
- More than 26 million people agree that they always shoparound when a policy is due for renewal to try and find a better deal.
- However, ‘insurance switchers’ are more likely to be ABs and people with higher incomes, which suggests that looking for a better deal is not necessarily driven by the need to save money.
- More than 7 million people agree that insurance companies are all the same, an attitude which undermines loyalty, increases customer churn and places a greater emphasis on price as a differentiating factor.
- Cost and the level of cover are the most important considerations for consumers when arranging insurance cover. Cost is more likely to be an issue for those aged under 45, while the quality of cover is more likely to be important for people aged over 35.
- People who prefer to arrange their insurance cover online are more likely to switch insurers at renewal, although those arranging cover directly with an insurer show a much higher propensity to be loyal compared to those using a price comparison site.
What you get
This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.
Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.
Mintel's proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.
Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.
Market reports provide appendices of data to support the research and insight produced. Our tables of data are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.
* This is a sample representation of the report layout and does not reflect the research included in this report.
Why buy from us?
Our reports will provide you with market data, consumer research and competitive intelligence to succeed in your market.
Buy now and you'll have instant access to the information you need to make the right decisions.
Find out what's next in the markets that matter to you: where opportunities lie and what challenges you will face.
A business Superbrand, Mintel is a source you can trust. We have been defining and refining the Market Intelligence mix since 1972.