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UK Pet Insurance 2008
Datamonitor, Aug 2008, Pages: 58
The UK pet insurance market continued to experience strong growth in premium income and policy numbers. This report discusses the current consumer attitudes to pet insurance as well as the trends in market distribution. It also provides forecasts for GWP and profitability up to 2012 under two different scenarios, making it essential reading for those with an interest in pet insurance.
Scope
- The latest data and market research, including information on market size, shifts in pet ownership trends, and product penetration levels
- An understanding of the competitive environment, and of the impact that new entrants and market consolidation is having on the pet insurance market
- Insight into changes in product distribution, tracking trends by platform and
- Two scenarios forecasting the markets GWP growth until 2012, based on primary research and in-house expertise
Highlights of this title
In 2007, direct insurers remained the dominant distribution channel in the market, with 60% of consumers indicating that they purchased their insurance through this channel. When evaluating the significance of the direct channel, it is important to highlight the dominance of Petplan in the market.
There is a positive correlation between household income and the uptake of a pet insurance policy, with the propensity to take up pet insurance increasing along with household income. Product penetration was highest among consumers earning a household income above £50,000.
Key reasons to purchase this title
- Understand UK pet ownership trends and how canine and feline populations are changing
- Benchmark your company against your competitors based on current and past performances in the market.
- Develop your future business plans from an informed viewpoint with Datamonitors GWP forecast
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