The UK’s Commercial Insurance Market is estimated to be USD 49.13 Bn in 2023 and is expected to reach USD 79.56 Bn by 2028, growing at a CAGR of 10.12%.
As the market dynamics impact the supply and demand curves, decision-makers aim to determine the best way to use various financial tools to stem various strategies for speeding growth and reducing the risks.
The analyst analyses the UK’s Commercial Insurance Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
Based on the SWOT analysis conducted on the industry and industry players, the analyst has devised suitable strategies for market growth.
Market Dynamics
Market dynamics are forces that impact the prices and behaviors of the stakeholders. These forces create pricing signals which result from the changes in the supply and demand curves for a given product or service. Forces of Market Dynamics may be related to macro-economic and micro-economic factors. There are dynamic market forces other than price, demand, and supply. Human emotions can also drive decisions, influence the market, and create price signals.As the market dynamics impact the supply and demand curves, decision-makers aim to determine the best way to use various financial tools to stem various strategies for speeding growth and reducing the risks.
Market Segmentations
The UK’s Commercial Insurance Market is segmented based on Type, Enterprise, Industry Verticle, and Distribution Channel.- By Type, the market is classified into Commercial motor insurance, Commercial property Insurance, Liability Insurance, Marine Insurance, and Others.
- By Enterprise, the market is classified into Small Scale Enterprise, Medium scale Enterprise, and Large scale Enterprise.
- By Industry Verticle, the market is classified into Manufacturing, Energy and Utilities, Construction, IT and Telecom, Healthcare, and Others.
- By Distribution Channel, the market is classified into Agents and Brokers, Direct Response, and Others.
Company Profiles
The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Aviva, RSA Insurance, Direct Line, Alliance, Phoenix Group, Liverpool Victoria, Prudential, Old Mutual , etc.Competitive Quadrant
The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.Ansoff Analysis
The report presents a detailed Ansoff matrix analysis for the UK’s Commercial Insurance Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.The analyst analyses the UK’s Commercial Insurance Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
Based on the SWOT analysis conducted on the industry and industry players, the analyst has devised suitable strategies for market growth.
Why buy this report?
- The report offers a comprehensive evaluation of the UK’s Commercial Insurance Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
- The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
- The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 and the impact of economic slowdown & impending recession on the market are also featured in the report.
- The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
- The report also contains a competitive analysis using Positioning Quadrants, the analyst's competitive positioning tool.
Report Highlights:
- A complete analysis of the market, including the parent industry
- Important market dynamics and trends
- Market segmentation
- Historical, current, and projected size of the market based on value and volume
- Market shares and strategies of key players
- Recommendations to companies for strengthening their foothold in the market
Table of Contents
1 Report Description1.1 Study Objectives
1.2 Market Definition
1.3 Currency
1.4 Years Considered
1.5 Language
1.6 Key Stakeholders
2 Research Methodology
2.1 Research Process
2.2 Data Collection and Validation
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Analyst Models
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.2 Top-Down Approach
2.4 Assumptions of the Study
2.5 Limitations of the Study
3 Executive Summary
3.1 Introduction
3.2 Market Size, Segmentations and Outlook
4 Market Dynamics
4.1 Drivers
4.1.1 Increase in need for insurance policies among the Enterprises
4.1.2 Increase Trend of Start-Up Business
4.1.3 Increasing Digitization in Insurance Industry
4.2 Restraints
4.2.1 Varied Insurance Regulations
4.2.2 High insurance premium
4.2.3 Lack of Awareness among Small Sizes Enterprises
4.3 Opportunities
4.3.1 Rising Usage of Automatic and Complex Devices In The Retail, Construction and Healthcare Industries
4.3.2 Adoption of Advanced Technology in Commercial Insurance
4.4 Challenges
4.4.1 Data Security and Privacy Concerns due to Increasing Cyber-Attacks
5 Market Analysis
5.1 Regulatory Scenario
5.2 Porter's Five Forces Analysis
5.3 PESTLE Analysis
5.4 SWOT Analysis
5.5 Impact of Covid-19
5.6 Impact of Economic Slowdown & Impending Recession
5.7 Ansoff Matrix Analysis
6 UK’s Commercial Insurance Market, By Type
6.1 Introduction
6.2 Commercial Motor Insurance
6.3 Commercial property Insurance
6.4 Liability Insurance
6.5 Marine Insurance
6.6 Others
7 UK’s Commercial Insurance Market, By Enterprise
7.1 Introduction
7.2 Small Scale Enterprise
7.3 Medium scale Enterprise
7.4 Large scale Enterprise
8 UK’s Commercial Insurance Market, By Industry Vertical
8.1 Introduction
8.2 Manufacturing
8.3 Energy and Utilities
8.4 Construction
8.5 IT and Telecom
8.6 Healthcare
8.7 Others
9 UK’s Commercial Insurance Market, By Distribution Channel
9.1 Introduction
9.2 Agents and Brokers
9.3 Direct Response
9.4 Others
10 Competitive Landscape
10.1 Competitive Quadrant
10.2 Market Share Analysis
10.3 Strategic Initiatives
10.3.1 M&A and Investments
10.3.2 Partnerships and Collaborations
10.3.3 Product Developments and Improvements
11 Company Profiles
11.1 Admiral Group
11.2 Aegon
11.3 Alliance
11.4 Aviva
11.5 AXA
11.6 Bupa
11.7 Direct Line
11.8 Hiscox
11.9 Legal and General
11.10 Liverpool Victoria
11.11 NFU Mutual
11.12 Old Mutual
11.13 Phoenix Group
11.14 Prudential
11.15 Royal London
11.16 RSA Insurance
11.17 ST. James Place
11.18 W.R. Berkley Group
12 Appendix
12.1 Questionnaire
Companies Mentioned
- Admiral Group
- Aegon
- Alliance
- Aviva
- AXA
- Bupa
- Direct Line
- Hiscox
- Legal and General
- Liverpool Victoria
- NFU Mutual
- Old Mutual
- Phoenix Group
- Prudential
- Royal London
- RSA Insurance
- ST. James Place
- W.R. Berkley Group
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 214 |
| Published | January 2023 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value ( USD | $ 49.13 Billion |
| Forecasted Market Value ( USD | $ 79.56 Billion |
| Compound Annual Growth Rate | 10.1% |
| Regions Covered | United Kingdom |
| No. of Companies Mentioned | 18 |
