This report studies the general or non-life personal lines
insurance market. The insurance market has been subject to
considerable development and restructuring since the start of the
2000s. These changes have been prompted by changes in regulatory
scrutiny and technological developments. The rise of the Internet
has radically changed how and where consumers buy their general
insurance policies. Consumers today are more willing and able to
search for alternative policies and deals compared with their
counterparts a decade ago.
This report considers the factors that help drive change in the
insurance market, including policy churn, searching behaviour and
policy purchasing.
This report covers 5 main areas of insurance activity,
including:
- Trends in consumer spending on general insurance
- Current ownership and policyholder typologies
- Market dynamics (including policy cancellation and policy
switching)
- Distribution dynamics
- Provider market shares
- Provider brand positioning
Consumer research has been commissioned in each of these areas
in order to form the main body of the report.
Around 20 questions were asked in total, covering the
following topics:
- Policies owned
- Policy cancellation
- Attitudes to risk
- Information sources used when searching for policies
- Factors determining the purchase of new policies or
switching
- Policyholder knowledge of their policy and their need for
advice
- Providers used
To download a full table of contents for this report,
click here.