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UK Travel Insurance 2009
Datamonitor, Sep 2009, Pages: 56
This report is an invaluable source of information on the UK travel insurance market. It provides unique market size information and discusses the main challenges and trends facing travel insurance providers. It also analyses which underwriters are leading the way in this market and forecasts what the future holds for the sector over the next four years.
Scope
- GWP forecasts to 2013, based on Datamonitors in-house expertise and proprietary model.
- Insight into the main competitive developments taking place in the UK travel insurance market.
- A detailed analysis of the marketing spend of the top 10 UK travel insurance advertisers.
Highlights of this title
The number of visits abroad by UK residents decreased by 16.6% between Q1 2008 and Q1 2009, from 18.2 million to 15.2 million. This is considerably different to trends in previous years, which have witnessed consistent growth in the first quarter of each year.
In 2008, advertising expenditure continued to increase in the travel insurance market to £7.7m, which can be attributed to competitors increasing their spending on outdoor advertising. Spending on outdoor advertising displayed significant growth in 2008, with spending on this type of media increasing by 307.3% to £1.3m.
The travel insurance market witnessed a small improvement in its gross loss ratio, which reduced by 0.7 percentage points from 65.4% to 64.7%. Growth in premium income was the main driver of this improvement, which grew by a larger proportion than claims incurred.
Key reasons to purchase this title
- Plan your future travel insurance strategy using Datamonitors market size forecasts.
- Gain an understanding of changing consumer attitudes and behaviors amid the downturn in order to determine appropriate recessionary strategies.
- Benchmark your travel insurance business against the competition.
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