Opinion on Life and Protection in United Kingdom

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Type Product title / description Pub Price
Expert View
Expert View

Advisors are confident that term assurance will help to grow the protection market as a whole

Exclusive Datamonitor survey data reveal that advisors are confident that term assurance will continue to play a vital role within the protection market over the next five years, as the UK economy and mortgage market begin to recover.

Published By Datamonitor
12 Sep 2012
Expert View
Expert View

Royal London thrives in a vulnerable market

Britain's largest life and pensions provider Royal London has bounced back from GBP2m losses in 2010 to announce profits of GBP138m in the first half of 2011. The results show that Royal London has weathered the volatile markets, and are a positive indicator that consumers are once again engaging with life and pensions products.

Published By Datamonitor
22 Aug 2011
Expert View
Expert View

The Life Dept offers a new, differentiated online proposition to the protection market

A new online intermediary, The Life Dept, entered the protection market on August 15, 2011. The new service will approach the market with protection products that cater for individual consumers' needs. While this new approach will reduce product complexity, the presence of only three providers in its panel will be a significant deterrent.

Published By Datamonitor
19 Aug 2011
CommentWire
CommentWire

Jump Money: helping consumers to identify gaps in their protection cover

Consumers are worryingly disengaged from the life insurance industry. Datamonitor's Financial Services Consumer Insight Survey 2011 reveals that only 43% of consumers in the UK have any form of life insurance. Even those consumers who actually have insurance may be holding cover that does not adequately meet their needs. Jump Money's online tool therefore aims to inform and engage customers.

Published By Datamonitor
11 Jul 2011
CommentWire
CommentWire

Resolution: growing with assurance but consolidation comes at a price

Resolution is continuing with its strategy of consolidating a fragmented UK life market through the acquisition of Bupa Health Assurance for GBP165m. While the deal will help the UK life sector to move towards widespread consolidation, the industry needs to be wary of the heavyweight insurers that will likely emerge in its wake.

Published By Datamonitor
20 Oct 2010
CommentWire
CommentWire

Friends Provident: looking for a Resolution

Investment firm Resolution has seized the opportunity to consolidate what it sees as a slow-moving life industry by acquiring Friends Provident for GBP1.86 billion. Considering the fragmented nature of the industry, this deal may kick-start further consolidation within the life insurance sector. However, the industry must be cautious of the insurer heavyweights that will emerge in its wake.

Published By Datamonitor
13 Aug 2009
CommentWire
CommentWire

Fortis: super deal with supermarket Tesco

Fortis Insurance and the supermarket giant Tesco have an agreement in principle for Fortis to take over as Tesco's home and motor insurance underwriter. The account is one of the largest in the market and should significantly increase Fortis' market share, and further growth in premium income can also be expected as Tesco pursues an expansion program for its financial services offering.

Published By Datamonitor
29 Jun 2009
CommentWire
CommentWire

Friends Provident: protection for the masses

Improving protection distribution is at the forefront of providers' minds, with a growing number of insurers attempting to deliver protection products through non-advised channels and direct-to-consumer. Friends Provident's new deal with Tesco illustrates this trend, but the industry must ensure it minds the 'advice gap' and continues to promote the wider range of protection product offerings.

Published By Datamonitor
29 Apr 2009
CommentWire
CommentWire

UK life insurers: improving transparency is the only way forward

UK life insurers are unlikely to avoid the malaise that has hit the banking sector. Their balance sheets are facing increased scrutiny with concerns that their solvency levels will not be sustainable over the coming months. In order to prepare for this attention, life insurers should practice a degree of damage limitation, making their financial position transparent to investors and customers.

Published By Datamonitor
25 Mar 2009
CommentWire
CommentWire

uSwitch: making life policies more accessible

Price comparison site uSwitch has added life policies to its platform to help customers choose appropriate products. However, the life industry has traditionally lagged behind the rest of the financial services sector in making products available via price comparison sites and the introduction of life policies does not necessarily mean that other protection products will be able to follow suit.

Published By Datamonitor
21 Apr 2008

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