United Kingdom (UK) Protection Insurance Market Outlook 2021: Big Things are Happening

HTF Market Intelligence released a new research Study of 46 pages on title 'United Kingdom (UK) Protection Insurance 2021 - Term Assurance' with in-depth analysis, forecast and business moves. The study covers key regions and important players such as Aegon, Legal & General, Aviva, Royal London, Vitality, Zurich, AIG, Friends Life, Anorak, reviti, Guardian, LV=, Holloway Friendly, Bequest, Pulse, Choozi.

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Summary

This report provides an in-depth assessment of the term assurance market, looking at current and historical market size with regards to changes in contracts and premiums. It examines how term assurance products are distributed and highlights key changes in the competitive landscape, as well as the propositions of the key market players. The value of claims is also assessed. The report provides forecasts of market size in terms of new contracts and premiums to 2025, and discusses how the market, distribution, and products offered are likely to change in the future, as well as the reasons for these changes.

The term assurance market contracted by 5.6% to £516.6m in new business premiums in 2020, down from £547.6m in 2019. The contraction was linked to the economic implications of COVID-19. Non-mortgage-related term assurance was the only term assurance product to record an increase, up 3.3% in terms of new contracts sold in 2020. COVID-19 has highlighted the importance of engaging with customers through digital technology, as the majority of term assurance policies are sold through the independent advised channel.

Scope

- Legal & General is the largest player in the term assurance market with a 29.4% share in terms of contracts sold in 2019.
- Term assurance accounts for the largest share of the protection market at 74.1% of contracts and 71.5% of new business premiums.
- Insurtechs are starting to launch fully digital term assurance products. Incumbent insurers are following this trend by launching term assurance products that can be purchased via price comparison sites.

Reasons to Buy

- Examine the size of the term assurance market.
- Learn about the short-term and longer-term implications of COVID-19 on the market.
- Understand the influence of other factors on growth.

Companies Mentioned in the Report

Aegon
Legal & General
Aviva
Royal London
Vitality
Zurich
AIG
Friends Life
Anorak
reviti
Guardian
LV=
Holloway Friendly
Bequest
Pulse
Choozi

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There are 15 Chapters to display the United Kingdom (UK) Protection Insurance 2021 - Term Assurance Market
Chapter 1, Overview to describe Definition, Specifications and Classification of United Kingdom (UK) Protection Insurance 2021 - Term Assurance market, Applications , Market Segment by Types ;
Chapter 2, objective of the study.
Chapter 3, Research methodology, measures, assumptions and analytical tools
Chapter 4 and 5, United Kingdom (UK) Protection Insurance 2021 - Term Assurance Market Trend Analysis, Drivers, Challenges by consumer behaviour, Marketing Channels, Value Chain Analysis
Chapter 6 and 7, to show the (UK) Protection Insurance 2021 - Term Assurance Market Analysis, segmentation analysis, characteristics;
Chapter 8 and 9, to show Five forces (bargaining Power of buyers/suppliers), Threats to new entrants and market condition;
Chapter 10 and 11, to show analysis by regional segmentation [], comparison, leading countries and opportunities; Customer Behaviour
Chapter 12, to identify major decision framework accumulated through Industry experts and strategic decision makers;
Chapter 13 and 14, about competition landscape (classification and Market Ranking)
Chapter 15, deals with United Kingdom (UK) Protection Insurance 2021 - Term Assurance Market sales channel, research findings and conclusion, appendix and data source.

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