The UK’s non-life insurance segment is set to see a CAGR of over 4% by 2018, according to a new study on ASDReports

Friday 25 July 2014, Amsterdam

Report description overview:

The new report now available on ASDReports, provides in-depth market analysis, information and insights into the UK non-life insurance segment, including the UK non-life insurance segment’s growth prospects by non-life insurance categories, key trends and drivers for the non-life insurance segment and various distribution channels in the UK non-life insurance segment. By purchasing this report you will gain detailed regulatory policies of the UK insurance industry as well as Porter's Five Forces analysis of the non-life insurance segment.

The difference:

• Gain insights into key regulations governing the UK insurance industry and its impact on companies and the market's future, allowing you to review your business offerings.
• Identify the growth opportunities and market dynamics within key product categories, enabling you to adjust your business plan.
• Understand the demand-side dynamics, key market trends and growth opportunities within the UK non-life insurance segment.

Additional report highlights:
The insurance industries in the leading global insurance markets are highly saturated with an overall insurance penetration of over 6%. The saturated market provides little scope for insurance companies to expand their presence and generate revenues. The global recession and the recent sovereign debt crisis in the euro zone had an adverse effect on the markets’ insurance industries. Consumers are becoming reluctant to invest their money and are looking to purchase low-cost insurance products from the cheapest insurance providers.

The price of insurance products has become the primary concern for consumers choosing which insurance product to purchase, causing consumers to become increasingly value-conscious and adept at using the internet. This means that the traditional insurance companies are facing tough competition from new providers whose online and other direct selling business models allow them to offer innovative products at significantly lower prices.

In order to remain competitive, insurance companies are forced to significantly reduce their administrative and customer acquisition costs. While some companies streamline their IT facilities to further improve efficiency and enhance customer experience, others are outsourcing part of their operations to low-cost destinations.