(MoneyNewsWire.Net, March 14, 2018 ) "UK Protection Insurance 2017: Critical Illness & Income Protection", discusses income protection and critical illness insurance, looking at market size with regards to changes in contracts and premiums, in addition to claims. It highlights the barriers to consumer engagement, how products are distributed, and the main market players and their propositions. It provides five-year forecasts of market size in premiums to 2021, and discusses how the market is likely to change as healthcare technology is developed.
The income protection and critical illness insurance markets continued to grow in 2016. Their year-on-year percentage growth outstripped the total protection market, highlighting a growing market for illness- and injury-oriented products. However, together they still only account for less than 10% of the total protection market in terms of contracts and premiums. Protection products remain complex, and are still sold and not bought, making advisors key to distribution. Income protection in particular is highly reliant on advisors, and this is not likely to change soon.
Meanwhile, individuals are beginning to purchase critical illness insurance independently online without advice, although advisors will remain key. To maintain market growth, providers and advisors must continue to build consumer engagement with these products.
Get Sample Copy of this Report@ http://www.kminsights.com/request-sample-173455
Scope:
- Income protection grew by 7.4% to 119,459 in contracts and 10.8% to £48.3m in premiums from 2015 to 2016. - Standalone critical illness insurance grew by 50.5% to 28,751 in contracts and 47.3% to £14.1m in premiums from 2015 to 2016. - Legal & General dominates the critical illness insurance market, holding a 25.4% market share in 2016. LV= and Friends Life dominate the income protection market, with 27.3% and 23.1% shares respectively in 2016.
Reasons to buy:
- Understand the barriers of uptake for critical illness and income protection, and learn how to increase consumer engagement. - Explore how the distribution landscape is changing for these products. - Discover which providers lead the critical illness and income protection markets. - See how critical illness and income protection are forecast to grow over the next five years.
Get more information about this report@ http://www.kminsights.com/reports/uk-protection-insurance-2017--critical-illness---income-protection-173455
Leading Key Players:
Legal & General Aviva Vitality Friends Life Royal London LV= AIG
Table of Contents:
1. EXECUTIVE SUMMARY 3
2. MARKET DYNAMICS 10
3. DISTRIBUTION DYNAMICS 28
4. COMPETITOR DYNAMICS 36
5. THE MARKET GOING FORWARD 46 5.1. The CII and IP markets are forecast to grow to 2021 46 5.1.1. The IP market is forecast to grow by 17.0% from 2016 to 2021 46 5.1.2. IP and CII policies can reduce Universal Credit payments, outweighing their value 47 5.1.3. The standalone critical illness market is forecast to grow by 11.5% from 2016 to 2021 48 5.1.4. Protection providers want government help to promote IP and CII 50 5.2. Policies are becoming personalized 51 5.2.1. Wearable healthcare technology is assessing individual risk 51 5.2.2. Genomic profiling could be used to assess risk in the future 51 5.2.3. Personalization could create an uninsurable underclass 52 5.2.4. Specialist policies for existing conditions could enter CII and IP 52 5.3. Providers want to actively help individuals manage their health 52 5.3.1. Providers could offer wearable technology that diagnoses and manages medical conditions 52 5.3.2. Facial analytics is being developed to detect early signs of disease 53 5.3.3. Aviva is investing in companies helping to protect and prevent against injury and illness 53 5.3.4. Rehabilitation and support services are helping customers get back to work 53 5.3.5. Wellbeing apps are being launched 54 5.3.6. Providers are launching digital healthcare and virtual GP services 54
6. APPENDIX 56
Inquiry before Buying@ http://www.kminsights.com/request-sample-173455
Key Market Insights
sambit kumar
8007533694
sambit.kumar@kminsights.com
Source: EmailWire.Com
|