Private Medical Insurance - UK - October 2016
US $2,610.66 (Excl.Tax)Excl. Tax Buy Now
“Providers must continue their efforts in regards to cost containment and product innovation, incorporating new digital technology to develop attractive propositions that meet the changing needs of consumers and to ensure the market’s future sustainability.”
Sarah Hitchcock, Senior Analyst – Financial Services
This report looks at the following areas:
The market comprises two main sectors: personal and corporate. The corporate sector is much larger in terms of the number of people covered, and more stable. In contrast, the personal sector is in long-term steady decline, based on the number of subscribers. Yet it remains an important revenue stream, accounting for more than two fifths of premium income.
One of the major barriers to stemming this decline is product affordability – or, at least, perceived affordability. For this reason, company strategy tends to be focused on containing costs, alerting customers to the range of options that exist to help them reduce their premiums, and developing new lower-cost solutions.
Taking these issues into consideration, Mintel’s consumer research explores attitudes toward private healthcare and health insurance. It reveals what proportion of the non-insured are open to the idea of taking out a policy in the future and identifies the types of policy people are most interested in, as well as the benefits they consider the most appealing. It also looks at the claims experiences of existing policyholders and their short-term plans in regards to policy upgrades, downgrades, cancellations and switching.
For the purposes of this Report, Mintel has used the following product definitions:
Alongside traditional PMI policies, there are a number of product variants. These include:
This report will give you a complete 360-degree view of your market. Not only is it rooted in robust proprietary and high-quality third-party data, but our industry experts put that data into context and you’ll quickly understand:
What They Want. Why They Want It.
Who’s Winning. How To Stay Ahead.
Size, Segments, Shares And Forecasts: How It All Adds Up.
New Ideas. New Products. New Potential.
Where The White Space Is. How To Make It Yours.
What’s Shaping Demand – Today And Tomorrow.