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Private Medical Insurance in the UK, Key Trends and Opportunities to 2017 - Product Image

Private Medical Insurance in the UK, Key Trends and Opportunities to 2017

  • ID: 2779007
  • March 2014
  • Region: United Kingdom, Great Britain
  • 63 pages
  • Timetric

FEATURED COMPANIES

  • Aviva Plc
  • Axa UK Plc
  • Bupa Insurance Ltd
  • Prudential Plc
  • Simplyhealth Group Ltd
  • MORE

- The report provides market analysis, information and insights into the UK private medical insurance insurance business
- It provides a snapshot of market size and market segmentation
- It offers comprehensive analysis of claims, drivers and market outlook
- It analyzes distribution channels
- It offers an overview of deals, news and regulatory developments

Summary
Gross written premiums in the private medical insurance category amounted to GBP3.65 billion in 2012, recording growth of 3.2% from 2011, and a compound annual growth rate (CAGR) of 2.47% during the review period (2008–2012).

Favorable developments in premiums belie the underlying trends in demand, however. As a discretionary insurance product, supplementary to free-to-access healthcare through the National Health Service (NHS), the number of private medical policyholders has been subject to a downwards trend since 2006 and hit its lowest level on record in 2012, at 5.6 million. Factors driving the apparent shift in attitudes include improved levels of satisfaction with the NHS, increased public healthcare spending, and deterioration in labor market conditions.

The market for READ MORE >

Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Aviva Plc
  • Axa UK Plc
  • Bupa Insurance Ltd
  • Prudential Plc
  • Simplyhealth Group Ltd
  • MORE

1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology
3 Market Analysis
3.1 Market Size
3.1.1 Penetration and density
3.2 Claims
3.2.1 Claims review
3.2.2 Claims outlook
3.3 Market Drivers
3.4 Market Outlook
3.5 Distribution Channels
3.5.1 Distribution outlook
4 Competitive Landscape
4.1 Profitability
4.1.1 Investment returns
4.1.2 Profitability outlook
4.2 Review – The Best Performers of 2012
4.3 Product Innovation
4.4 Private Medical Insurance – SWOT Analysis
5 Porter’s Five Forces Analysis
5.1 Bargaining Power of Suppliers: High
5.2 Bargaining Power of Buyers: Medium
5.3 Barriers to Entry: Medium
5.4 Intensity of Rivalry: Medium to High
5.5 Threat of Substitution: High
6 Deals
6.1 Axa Signs Broker Deal
6.2 Bupa Creates Global Insurance Network
6.3 Bupa Extends Deal with UK Sport
6.4 Aviva Partners with Chartered Society of Physiotherapy
6.5 Prudential Continues Sponsorship of Sporting Events
7 News
7.1 UK Expats Lose Free Healthcare Access
7.2 Aviva Release Cancer Claims Statistics
7.3 Adviser Roadshows to Garner Sales Opportunities
7.4 Patient Records Obtained by Actuarial Institute
7.5 Health Insurance High on Employees’ Wish Lists
7.6 Aviva Wins Health Insurance Awards
7.7 Government Consults on Visitor Medical Insurance Requirements
7.8 Inaugural Advisory Board for PruHealth Scheme
8 Regulation and Compliance
8.1 Recent Changes
8.1.1 Health and Social Care Act 2012
8.2 Upcoming Regulations
8.2.1 Solvency II
9 Macroeconomic Backdrop
9.1 Real GDP Growth
9.2 Labor Market Conditions
9.3 Interest Rates
9.4 Demographics
10 Company Profiles
10.1 Aviva Plc – Company Overview
10.1.1 Aviva Plc – key facts
10.1.2 Aviva Plc – main products
10.1.3 Aviva Plc – main competitors
10.1.4 Aviva Plc – key employees
10.2 Axa UK Plc – Company Overview
10.2.1 Axa UK Plc – key facts
10.2.2 Axa UK Plc – main products
10.2.3 Axa UK Plc – main competitors
10.2.4 Axa UK Plc – key employees
10.3 Bupa Insurance Ltd – Company Overview
10.3.1 Bupa Insurance Ltd – key facts
10.3.2 Bupa Insurance Ltd – main products
10.3.3 Bupa Insurance Ltd – main competitors
10.3.4 Bupa Insurance Ltd – key employees
10.4 Chubb Insurance Company of Europe SE – Company Overview
10.4.1 Chubb Insurance Company of Europe SE – key facts
10.4.2 Chubb Insurance Company of Europe SE – main products
10.4.3 Chubb Insurance Company of Europe SE – main competitors
10.4.4 Chubb Insurance Company of Europe SE – key employees
10.5 Cigna Life Insurance Company of Europe SA-NV – Company Overview
10.5.1 Cigna Life Insurance Company of Europe SA-NV – key facts
10.5.2 Cigna Life Insurance Company of Europe SA-NV – main products
10.5.3 Cigna Life Insurance Company of Europe SA-NV – main competitors
10.5.4 Cigna Life Insurance Company of Europe SA-NV – key employees
10.6 Exeter Friendly Society Ltd – Company Overview
10.6.1 Exeter Friendly Society Ltd – key facts
10.6.2 Exeter Friendly Society Ltd – main products
10.6.3 Exeter Friendly Society Ltd – main competitors
10.6.4 Exeter Friendly Society Ltd – key employees
10.7 Great Lakes Reinsurance (UK) Plc – Company Overview
10.7.1 Great Lakes Reinsurance (UK) Plc – key facts
10.7.2 Great Lakes Reinsurance (UK) Plc – main products
10.7.3 Great Lakes Reinsurance (UK) Plc – main competitors
10.7.4 Great Lakes Reinsurance (UK) Plc – key employees
10.8 Prudential Plc – Company Overview
10.8.1 Prudential Plc – key facts
10.8.2 Prudential Plc – main products
10.8.3 Prudential Plc – main competitors
10.8.4 Prudential Plc – key employees
10.9 Simplyhealth Group Ltd – Company Overview
10.9.1 Simplyhealth Group Ltd – key facts
10.9.2 Simplyhealth Group Ltd – main products
10.9.3 Simplyhealth Group Ltd – main competitors
10.9.4 Simplyhealth Group Ltd – key employees
10.10 Western Provident Association – Company Overview
10.10.1 Western Provident Association – key facts
10.10.2 Western Provident Association – main products
10.10.3 Western Provident Association – main competitors
10.10.4 Western Provident Association – key employees
11 Statistics
11.1 Review Period: 2008–2012
11.2 Forecast Period: 2013–2017
12 Appendix
12.1 Methodology
12.2 Contact Timetric
12.3 About Timetric
12.4 Timetric’s Services
12.5 Disclaimer

List of Tables
Table 1: Insurance Industry Definitions
Table 2: UK Private Medical Insurance – Market Summary (GBP Thousand), 2008–2012
Table 3: UK Private Medical Insurance – Market SWOT Analysis
Table 4: Recent and Upcoming Regulatory Changes
Table 5: Aviva Plc, Key Facts
Table 6: Aviva Plc, Main Products
Table 7: Aviva Plc, Key Employees
Table 8: Axa UK Plc, Key Facts
Table 9: Axa UK Plc, Main Products
Table 10: Axa UK Plc, Key Employees
Table 11: Bupa Insurance Ltd, Key Facts
Table 12: Bupa Insurance Ltd, Main Products
Table 13: Bupa Insurance Ltd, Key Employees
Table 14: Chubb Insurance Company of Europe SE, Key Facts
Table 15: Chubb Insurance Company of Europe SE, Main Products
Table 16: Chubb Insurance Company of Europe SE, Key Employees
Table 17: Cigna Life Insurance Company of Europe SA-NV, Key Facts
Table 18: Cigna Life Insurance Company of Europe SA-NV, Main Products
Table 19: Cigna Life Insurance Company of Europe SA-NV, Key Employees
Table 20: Exeter Friendly Society Ltd, Key Facts
Table 21: Exeter Friendly Society Ltd, Main Products
Table 22: Exeter Friendly Society Ltd, Key Employees
Table 23: Great Lakes Reinsurance (UK) Plc, Key Facts
Table 24: Great Lakes Reinsurance (UK) Plc, Main Products
Table 25: Great Lakes Reinsurance (UK) Plc, Key Employees
Table 26: Prudential Plc, Key Facts
Table 27: Prudential Plc, Main Products
Table 28: Prudential Plc, Board of Directors
Table 29: Simplyhealth Group Ltd, Key Facts
Table 30: Simplyhealth Group Ltd, Main Products
Table 31: Simplyhealth Group Ltd, Key Employees
Table 32: Western Provident Association, Key Facts
Table 33: Western Provident Association, Main Products
Table 34: Western Provident Association, Key Employees
Table 35: Private Medical Insurance (GBP Thousand), 2008–2012
Table 36: Private Medical Insurance (GBP Thousand), 2013–2017

List of Figures
Figure 1: UK Private Medical Insurance – Gross Written Premiums (GBP), 2008–2012
Figure 2: UK Private Medical Insurance – Penetration Rate (%) and Density (GBP), 2008–2012
Figure 3: UK Private Medical Insurance – Number of Policyholders (Millions), 2004–2012
Figure 4: UK Consumer Price Inflation – Healthcare (%), 2008–2013
Figure 5: UK Demographics, 1992–2012
Figure 6: UK GDP Growth and Labor Market Conditions, 2004–2012
Figure 7: UK Public and Private Healthcare Expenditure, 1997–2011
Figure 8: NHS Performance Measures, 2006–2013
Figure 9: UK Public Satisfaction With the NHS, 1993–2012
Figure 10: UK Private Medical Insurance – Gross Written Premiums Forecast (GBP Millions) 2013–2017
Figure 11: Market Shares of the 10 Leading UK Private Medical Insurers (%) in 2012
Figure 12: UK Private Medical Insurance – Five Forces Analysis
Figure 13: The UK’s Insurance Regulatory Framework
Figure 14: Real GDP Growth (%), 2008–2017
Figure 15: UK – Unemployment and Redundancy Rates (%), 2004–2012
Figure 16: UK – Average Weekly Earnings, 2004–2012
Figure 17: UK – Bank of England Rate (%), 2004–2014
Figure 18: UK – Population Growth and Median Age, 1995-2012
Figure 19: UK – Standards of Living (GBP), 1997–2011

Note: Product cover images may vary from those shown

Aviva Plc
Axa UK Plc
Bupa Insurance Ltd
Chubb Insurance Company of Europe SE
Cigna Life Insurance Company of Europe SA-NV
Exeter Friendly Society Ltd
Great Lakes Reinsurance (UK) Plc
Prudential Plc
Simplyhealth Group Ltd
Western Provident Association

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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