Abstract
Introduction
This report provides a detailed study of the UK private medical insurance
market, with information on market size and profitability, as well as
developments in average premiums and policy numbers. In addition, the size of
the market is forecast until 2012 under two scenarios reflecting different
views on the future of the individual market.
Scope of this report
- Data on market size, policyholder numbers and average premiums for the UK
PMI market
- Information on product penetration and consumer attitudes to private
medical insurance
- Forecasts of premium income until 2012 under two different scenarios,
based on primary research and in-house expertise
Research and analysis highlights
Total subscribers to PMI schemes grew by 3.4% in 2006 to a total of 3.4
million. The individual sector increased its number of subscribers by 1.8%.
While this is a relatively small increase, it is important because it is the
first growth the individual market has achieved in 10 years.
According to data from Ipsos MORI, 12% of consumers had private medical
insurance in 2007. This makes private medical insurance the most popular
health insurance product, with dental plans, critical illness insurance and
cash plans scoring significantly lower.
The number of PMI subscribers is forecast to grow only slightly between 2007
and 2012. The small overall growth in subscribers reflects very different
developments in individual and group subscriber numbers. In the individual
market, the number of subscribers is forecast to fall slightly, while the
group market is expected to achieve growth.
Key reasons to read this report
- Benchmark your market share and premium income against your competitors
- Understand consumer attitudes to PMI cover
- Develop your future market strategy using Datamonitor' s unique forecasts
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