Abstract
Introduction
This report gives a comprehensive analysis of the UK private medical insurance
sector. An exclusive survey of over 3,500 consumers provides insight into
buyer behavior. The report also assesses the current market issues including
the potential for cancer top-up policies and the recession and includes data
on market size, structure, distribution channels and market shares.
Scope of this research
- Consumer research on methods of arrangement and future buyer interest
based on an exclusive survey of over 3,500 consumers.
- Insight into the effects of the recession and the potential for cancer
top-up policies.
- Data on the market share of the top groups as well as an analysis of the
marketing spend of the top brands.
- Forecasts of the future size of the market, subscriber numbers and the
drivers that will affect the market going forward.
Research and analysis highlights
One of the issues currently affecting the PMI market is the recession. The UK
officially entered a recession in the second half of 2008, with two successive
quarters of negative GDP growth and there has been a lot of speculation as to
how severely this will affect the PMI market.
In November 2008 the government announced that NHS patients would be allowed
to pay privately for additional drugs without losing access to NHS care. This
could open up a new revenue stream for insurers. The ruling opens up the
opportunity for PMI insurers to offer insurance for cancer drugs without the
policyholder losing access to NHS care.
Datamonitor expects to see slow growth in the size of the health insurance
market in 2009 and 2010 due to lower retention rates and less new business in
light of the economic situation. Thereafter, as the economy picks up,
Datamonitor forecasts that the PMI market will see steadier growth, with GEP
increasing by between 4% and 5% annually.
Key reasons to purchase this research
- Understand which of your competitors pose the greatest threat, which
competitors are gaining market share and which are losing market share.
- Assess penetration rates, future buyer interest and the most effective
distribution channels.
- Gain insight into the future direction of the sector, including market
size and subscriber numbers and the major issues affecting the market.
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