Abstract
Overview
Introduction
Examines the market for Term Assurance in the UK. Looking at the issues market
has faced and what the likely challenges are in the future.
Scope
- Uses ABI and Swiss re data on new business premiums and policy sales to
size the mortgage related and savings related Term Assurance markets
- Utilizes extensive primary research to examine the issues that the market
has been facing and what the likely outlook for the future is
- Profiles the key competitors in the Term Assurance market.
- Provides Datamonitor' s forecasts for the development of the savings
related, mortgage related and rider products in the market to 2011.
Report Highlights
The total UK protection market has shrunk over the last five years however the
poor performance of term assurance has not simply been a reflection of the
declining market, the share of the market accounted for my term assurance has
also declined between 2002 and 2006.
Term life insurers are moving in a difficult environment: Consumers dislike
life insurance and, to some degree, feel they can' t trust providers to keep
their promise. Price has turned into the defining feature for term assurance
and, as is a comparatively simple construct, the product has reached a high
degree of commoditization.
Reasons to Purchase
- Market context: Observe how the Term Assurance market has progressed over
the last five years and identify the top providers for these products.
- Market data: Understand the Term Assurance market, the distribution trends
and the key drivers of Term Assurance new business.
- Market forecast: Identify the future of the market & gain valuable insight
into how to react to these latest developments.
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