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UK Personal Insurance Distribution 2006
Datamonitor, March 2007, Pages: 135
The distribution of personal lines insurance is going through important changes, as new distributors win market share from traditional providers. This report analyzes the growth and decline of the main distribution channels, providing unique estimates and forecasts on personal lines distribution in the UK.
Scope of this title:
Our unique distribution estimates by channel and platform Forecasts for the main distribution channels, including aggregators, up to 2010, based on our model and interviews with industry executives Analysis of the main developments within each of the main distribution channels, including discussion of innovative competitor strategies
Highlights of this title:
The direct channel has faced competition from aggregators, as the use of aggregator sites has increased the amount of intermediated online sales. We estimate that 25 per cent of new sales conducted over the Internet went through aggregators in 2006. We estimate that 32 per cent of private motor and 18 per cent of household insurance new sales were transacted online in 2005. By 2006 this is estimated to have increased by 4 percentage points for motor, and 3 percentage points for household. One broker to take advantage of the growth of aggregator sites is The Budget Group, which launched its own aggregator, Comparethemarket.com, in August 2006. The broker has found a way of taking advantage of the rise of the new distribution channel, generating revenue from running the site, as well as from offering its products on other sites.
Reasons to order your copy:
- Obtain a comprehensive understanding of the key trends driving the changes to personal insurance distribution in the UK
- Gain knowledge of new and innovative distribution strategies undertaken by competitors in your channel Plan your distribution strategy with confidence using our channel and platform distribution forecasts
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