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Income Protection and Critical Illness Insurance in the UK, Key Trends and Opportunities to 2018

Income Protection and Critical Illness Insurance in the UK, Key Trends and Opportunities to 2018

Synopsis

This report is the result of extensive research into the income protection and critical illness insurance market in the UK, covering the market dynamics, outlook and competitive landscape. It provides estimates of the market size and projections of new business premiums, and discusses key products and distribution channels. The report also provides an overview of leading companies in the category, alongside details of any strategic initiatives undertaken.Summary

  • The report provides market analysis and insights into the UK income protection and critical illness insurance business
  • It also provides a snapshot of market size and market dynamics
  • Furthermore, the report discusses key drivers, distribution channels and the outlook for the market
  • It also summarises deals, news and regulatory developments in the category
Scope
  • This report provides a comprehensive analysis of the income protection and critical illness insurance market in the UK
  • It provides historical values for the UK income protection and critical illness insurance market for the report’s 2009–2013 review period and forecast figures for the 2014–2018 forecast period
  • It offers estimates of new business premiums collected in the market by product type
  • It provides an overview of market dynamics and market drivers
  • It profiles top protection providers in the UK and outlines key challenges facing them
Reasons To Buy
  • Gain an understanding of the UK income protection and critical illness insurance market
  • Learn about the performance of market drivers, distribution channels and market dynamics
  • Explore types of products and key competitors in the category
  • Find out more on key deals and recent developments in the market
Key Highlights
  • Protection sales remained flat despite adverse market conditions
  • The income protection and critical illness category is expected to expand at a benign rate
  • The MMR is expected to highlight protection advice need
  • Insurers argue protection is the answer to reducing welfare costs
  • Technology is expected to change protection distribution
  • ABI shows a rise in protection claims payouts in 2013


  • Executive Summary
  • Introduction
    • What is this Report About?
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • Market Analysis
    • Market Size
      • Income protection and critical illness insurance, new business premiums by category
      • Income protection and critical illness insurance, new business premiums by product type
      • Income protection and critical illness insurance, regular and single new business premiums
    • Income Protection Insurance
      • Income protection insurance, individual and group new business premiums
    • Critical Illness Insurance
      • Critical illness insurance, individual and group new business premiums
      • Individual critical illness insurance, accelerated and standalone new business premiums
    • UK Long-Term Protection Market, New Regular Business Premiums by Category
    • The Number of IP and CI Product Sales
      • Individual IP and CI sales
        • Table UK Pure Protection and Mortgage Sales, April 2005-March 2014
      • Group protection sales
        • Table UK Group Risk Sales, 2009-2013
    • Claims
      • Table ABI Individual Protection Claims Data, 2013
      • Claims outlook
    • Market Drivers
      • Table First-Time Buyers, Number of Loans and Value of Loans (GBP Million), January 2014-November 2014
    • Market Outlook
    • Distribution Channels
  • Competitive Landscape
    • Review - The Best Performers of 2013
    • Income Protection and Critical Illness Insurance - SWOT Analysis
      • Table UK Income Protection and Critical Illness Insurance - SWOT Analysis
    • Product Innovation
      • News
  • Deals and News
    • Legal and General Revealed 60% of Claims are Cancer-Related
    • AIG Completes Purchase of Ageas Protect
    • ABI Publishes Updated Statement of Best Practice for CI Insurance
    • Aviva and Friends Life Agree Terms for GBP5.6 billion deal
    • Seven Families Campaign Begins
    • Lloyds Cuts Protection Advice Ahead of Intermediary Launch
    • Protection Surge Mitigates Aviva Annuity Attrition
    • TSB Bank Signs Protection Deal with Legal and General
  • Regulation and Compliance
    • Regulatory Changes
      • Compulsory retirement at age 65 abolished
      • Risk selection by gender has been outlawed
      • Retail Distribution Review (RDR)
      • Auto-enrolment
      • The Welfare Reform Act 2012
      • End of percentage threshold scheme
      • The Mortgage Market Review
      • Solvency II
  • Economic Backdrop
    • Real GDP Growth
    • Demographics
    • Labor Market
    • Housing and Mortgage Market
    • Employment and Support Allowance and Incapacity Benefits Claimants
    • GDP per Capita and Household Disposable Income
  • Company Profiles
    • Ageas UK Ltd - Company Overview
      • Ageas UK Ltd - key facts
        • Table Ageas UK Ltd - Key Facts
      • Ageas UK Ltd - main products
        • Table Ageas UK Ltd - Main Products
      • Ageas UK Ltd - main competitors
      • Ageas UK Ltd - key employees
        • Table Ageas UK Ltd - Key Employees
    • Aviva Plc - Company Overview
      • Aviva Plc - key facts
        • Table Aviva Plc - Key Facts
      • Aviva Plc - main products
        • Table Aviva Plc - Main Products
      • Aviva Plc - main competitors
      • Aviva Plc - key employees
        • Table Aviva Plc - Key Employees
    • Canada Life Ltd - Company Overview
      • Canada Life Ltd - key facts
        • Table Canada Life Ltd - Key Facts
      • Canada Life Ltd - main products
        • Table Canada Life Ltd - Main Products
      • Canada Life Ltd - main competitors
      • Canada Life Ltd - key employees
        • Table Canada Life Ltd - Key Employees
    • Friends Life Group Ltd - Company Overview
      • Friends Life Group Plc - key facts
        • Table Friends Life Group Plc - Key Facts
      • Friends Life Group Plc - main products
        • Table Friends Life Group Plc - Main Products
      • Friends Life Group Plc - main competitors
      • Friends Life Group Plc - key employees
        • Table Friends Life Group Plc - Key Employees
    • Legal & General Group Plc - Company Overview
      • Legal & General Group Plc - key facts
        • Table Legal & General Group Plc - Key Facts
      • Legal & General Group Plc - main products
        • Table Legal & General Group Plc - Main Products
      • Legal & General Group Plc - main competitors
      • Legal & General Group Plc - key employees
        • Table Legal & General Group Plc - Key Employees
    • Liverpool Victoria Group - Company Overview
      • Liverpool Victoria Group - key facts
        • Table Liverpool Victoria Group - Key Facts
      • Liverpool Victoria Group - main products
        • Table Liverpool Victoria Group - Main Products
      • Liverpool Victoria Group - main competitors
      • Liverpool Victoria Group - key employees
        • Table Liverpool Victoria Group - Key Employees
    • Lloyds Banking Group Plc - Company Overview
      • Lloyds Banking Group Plc - key facts
        • Table Lloyds Banking Group Plc - Key Facts
      • Lloyds Banking Group Plc - main products
        • Table Lloyds Banking Group Plc - Main Products
      • Lloyds Banking Group Plc - main competitors
      • Lloyds Banking Group PLC - key employees
        • Table Lloyds Banking Group Plc - Key Employees
    • Partnership Assurance Group Plc - Company Overview
      • Partnership Assurance Group Plc - key facts
        • Table Partnership Assurance Group Plc - Key Facts
      • Partnership Assurance Group Plc - main products
        • Table Partnership Assurance Group Plc - Main Products
      • Partnership Assurance Group Plc - main competitors
      • Partnership Assurance Group Plc - key employees
        • Table Partnership Assurance Group Plc - Key Employees
    • The Royal London Group - Company Overview
      • The Royal London Group - key facts
        • Table The Royal London Group - Key Facts
      • The Royal London Group - main products
        • Table The Royal London Group - Main Products
      • The Royal London Group - main competitors
      • The Royal London Group - key employees
        • Table The Royal London Group - Key Employees
    • Unum Ltd - Company Overview
      • Unum Ltd - key facts
        • Table Unum Ltd - Key Facts
      • Unum Ltd - main products
        • Table Unum Ltd - Main Products
      • Unum Ltd - main competitors
      • Unum Ltd - key employees
        • Table Unum Ltd - Key Employees
  • Statistics
    • Review Period: 2009-2013
      • Table UK IP and CI Insurance - Historical Statistics (GBP Thousand), 2009-2013
    • Forecast Period: 2014-2018
      • Table UK IP and CI Insurance - Forecast Statistics (GBP Thousand), 2014-2018
  • Appendix
    • Methodology
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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