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Travel Metrics: Consumer Approaches to Travel Insurance in the UK Product Image

Travel Metrics: Consumer Approaches to Travel Insurance in the UK

  • ID: 1194991
  • June 2011
  • Region: United Kingdom, Great Britain
  • 40 Pages
  • Finaccord

The report titled Travel Metrics: Consumer Approaches to Travel Insurance and Assistance in the UK offers detailed and unique insights into the behaviour of consumers in the UK in the context of travel insurance and assistance. This publication follows on from Finaccord's ground-breaking study in 2006, and is based on a survey of 1,000 consumers in the UK carried out at the end of 2010.

The research quantifies the proportion of consumers in the UK who travel and the proportion that buy travel insurance, segmented by age and income. It also investigates the types of policy that they buy (annual policies, single trip policies or packaged policies, e.g. with a travel ticket or a payment card), the risks covered and assistance services provided by their policy, the distribution channels and interfaces that they use to take out travel insurance, and whether they bought a policy before booking their travel, at the same time, or afterwards. It also reports on the reasons why uninsured travellers did not buy travel insurance.

Finally, the report analyses claims frequency for travel insurance, including data for the types of claim and for acceptance rates, and ranks major providers READ MORE >

0.0 EXECUTIVE SUMMARY
Older travellers are more likely to be covered by travel insurance policies
Market concentration is very low, with no single provider being particularly dominant
Direct sales account for around half of all distribution of stand-alone travel policies
Travel policies packaged with banking products exhibit the highest claims frequency

1.0 INTRODUCTION
Research rationale
European consumer research
Travel insurance and assistance
Other topics
Other international research reports

2.0 SURVEY ANALYSIS
Introduction
Underlying travel market
Frequency of travel
Frequency of travel, segmented by age
Frequency of travel, segmented by income
Uptake of travel insurance and assistance
Proportion of travellers who are covered by travel insurance
Proportion of travellers who are covered by travel insurance, segmented by age
Proportion of travellers who are covered by travel insurance, segmented by income
Types of consumers who buy the most travel insurance
Main reasons why uninsured travellers do not acquire travel insurance
Characteristics of travel insurance and assistance
Risks covered by travel insurance
Providers of travel insurance
Distribution of travel insurance and assistance
Types of travel insurance and assistance policies held
Types of travel insurance and assistance policies held, segmented by age
Types of travel insurance and assistance policies held, segmented by income
Distribution channels used for stand-alone travel insurance
Distribution interfaces used for stand-alone travel insurance
Cross-tabulation of distribution channels and interfaces used for stand-alone policies
Time of acquisition of stand-alone travel insurance
Travel insurance and assistance claims
Frequency and outcome of travel insurance claims, segmented by age
Frequency and outcome of travel insurance claims, segmented by income
Frequency of travel insurance claims, segmented by type of policy
Main reasons for travel insurance claims

3.0 APPENDIX
Research sample statistics
Research structure

LIST OF GRAPHICS / TABLES:

% of respondents in the UK undertaking significant travel during the preceding 24 months, 2006 and 2010
% of respondents in the UK undertaking significant travel during the preceding 24 months, segmented by age, 2010
% of respondents in the UK undertaking significant travel during the preceding 24 months, segmented by annual household income, 2010
% of travellers in the UK who were covered by travel insurance, 2006 and 2010
% of travellers in the UK who were covered by travel insurance, segmented by age, 2010
% of travellers in the UK who were covered by travel insurance, segmented by annual household income, 2010
% of all travel insurance policies purchased by each age and annual household income segment, UK, 2010
Main reasons why uninsured travellers in the UK did not acquire travel insurance, 2006 and 2010 (data)
Main reasons why uninsured travellers in the UK did not acquire travel insurance, 2006 and 2010
Risks covered by travel insurance and assistance in the UK, 2010
Travel insurance providers identified by respondents in the UK, 2010
Types of insurance policy held by insured travellers in the UK, 2006 and 2010
Types of insurance policy held by insured travellers in the UK, 2006 and 2010 (data)
Types of insurance policy held by insured travellers in the UK, segmented by age, 2010
Types of insurance policy held by insured travellers in the UK, segmented by annual household income, 2010
Types of insurance policy held by insured travellers in the UK, segmented by age and annual household income, 2010 (data)
Distribution channels used for stand-alone travel insurance in the UK, 2010
Distribution channels used for stand-alone travel insurance in the UK, 2006 and 2010
Distribution interfaces used for stand-alone travel insurance in the UK, 2006 and 2010
Cross-tabulation of distribution channels and interfaces used for stand-alone travel insurance in the UK, 2010
Time of acquiring stand-alone travel insurance relative to time of booking travel, UK, 2006 and 2010
Frequency and outcome of travel insurance claims in the UK, segmented by age of claimant, 2010
Frequency and outcome of travel insurance claims in the UK, segmented by annual household income of claimant, 2010
Frequency and outcome of travel insurance claims in the UK, segmented by age and annual household income of claimant, 2010 (data)
Frequency of travel insurance claims in the UK, segmented by type of policy, 2010
Main reasons for travel insurance claims in the UK, 2010
UK survey sample (1,000 individuals), segmented by age group and annual household income band

9.0 APPENDIX
European survey sample (6,000 individuals), segmented by age group and annual household income band

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