Latest Intelligence on Personal Insurance

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Type Product title / description Pub Price
Expert View
Expert View

A black day for payment protection insurance

The UK's Financial Services Authority and Office of Fair Trading have both published reports expressing concern over the payment protection insurance market, citing problems with sales standards and competition. This, they argue, can lead to customers receiving a poor deal. As a result, the FSA plans to continue its review of the market, while the OFT has referred it to the Competition Commission.

Published By Datamonitor
20 Oct 2006
Expert View
Expert View

A decline in petrol sales illustrates behavior that may contribute to a dip in car insurance GWP

Datamonitor has forecast the private motor insurance market will plateau during 2012-15. One influence will be static growth in volume as the cost of driving spirals. Insurers are currently unconcerned while the size of the motor parc remains stable, with declining traffic signifying less risk exposure. Yet as drivers react and adapt their behavior, larger consequences for the market are expected.

Published By Datamonitor
04 Oct 2012
Expert View
Expert View

A government-backed central pool is the only way forward for insurers offering flood coverage

A central flood insurance pool such as those proposed by the ABI and Marsh will only be effective if it is administered by an organization with industry-wide support and backed by the government. It is essential that one of the plans is agreed upon and implemented in the next six months, as policy holders and the insurance industry are being exposed to significant uncertainty in the meantime.

Published By Datamonitor
30 Nov 2011
Expert View
Expert View

A video is worth a thousand words

In-car cameras are rising in popularity as a method of establishing liability and fighting fraud. The technology has great potential for complementing telematics propositions and should be advocated by insurers.

Published By Datamonitor
16 Oct 2013
CommentWire
CommentWire

AA / Shoosmiths: a personal injury push

The AA's partnership with Shoosmiths will allow it to compete with RAC's blossoming legal services division and capitalize on new opportunities in the sector. The services group's timing is appropriate, as regulatory changes in the law profession are likely to see a raft of familiar retail brands offering legal services. Like RAC, the AA is well placed at the vanguard of this shift.

Published By Datamonitor
21 Apr 2005
CommentWire
CommentWire

AA/Saga: insurer looks set to benefit from proposed in-house credit hire operations

In a move to tackle the costs associated with credit hire, AA/Saga plans to bring its arrangements in-house. Credit hire costs are a major source of claims inflation for motor insurers, and bringing credit hire in-house could generate a lucrative side line, while also giving it greater control over a key driver in claims costs.

Published By Datamonitor
16 Jul 2009
Expert View
Expert View

ABI uses SoP extension as bargaining chip

The Association of British Insurers (ABI) is driving a hard bargain by extending the Statement of Principles (SoP) by only a month. Other stopgap extensions will follow until it can reach a deal with the government based on its Flood Re model.

Published By Datamonitor
21 May 2013
Expert View
Expert View

Admiral looks closer to home as insurers seek to diversify

UK car insurer Admiral has announced that from 2011 it will commence underwriting household insurance products. This is a public display of diversification from the direct insurer, which Datamonitor research indicates is currently sixth largest in the motor market. The move bodes well for Admiral, but more significantly suggests a burgeoning trend of players branching out in the insurance market.

Published By Datamonitor
29 Jul 2010
CommentWire
CommentWire

Admiral: breaking the cycle

In order to counter an expected downturn in market profitability, Admiral plans to increase premiums rates in the motor insurance market. However, should stronger competitors use their size to lower prices, Admiral could find itself once again sucked into the cycle of an increasingly unprofitable market.

Published By Datamonitor
13 Jan 2005
CommentWire
CommentWire

Admiral: full steam ahead

UK car insurer the Admiral Group plans to go public later this year, with an estimated market valuation of GBP600 million. The move would allow its current owners to realize the gains on their investment in the company. The IPO will be well received given the insurer has just announced record results.

Published By Datamonitor
26 Apr 2004

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