UK Private Motor Insurance: Competitor Dynamics
The UK Private Motor Insurance market is a highly competitive market. Insurers are struggling to make their books profitable, as claims continue to prove challenging. The number of insurers active in this market makes it hard to generate rate increases on top of the rise in insurance tax. With more regulation likely, insurers are continually looking at different ways to deliver competitive advantage.
- The top 10 insurers account for 65.5% of the market.
- Co-op Insurance replaced RSA in the top 10 private motor insurers list.
- Half of the top 11–20 private motor insurers reported GWP growth in 2015.
- Covea delivered a profitable book, while others struggled.
Verdict Financial’s “UK Private Motor Insurance: Competitor Dynamics” report is one of a series of reports providing a high-level look into insurer activity during the last year within a product area, and benchmarks the leading insurers against each other. Each report looks at the top 10–20 players to see how they have performed, but also to see how they have changed their overall proposition.Reasons To Buy
- Benchmark yourself against other players in the market.
- Adapt your proposition to gain competitor advantage.
Please Note: Due to the brevity and/or nature of the content posted, there is no table of contents available for this report.