Personal Non-Life Insurance Brokers in the UK

Transcription

1 Personal Non-Life Insurance Brokers in the UK Report Prospectus July 2015 Finaccord, 2015 Web: 1

2 Prospectus contents Page What is the research? What is the report structure? What are the key features of the research? How can the research be used? Who can use the research? Sample data from the research What is the cost and format? How can the research be purchased? Finaccord, 2015 Web: info@finaccord.com 2

3 What is the research? Finaccord s report titled Personal Non-Life Insurance Brokers in the UK, plus the BrokerBASE and market data annexe that accompany it, investigate the importance of brokers in the distribution of non-life insurance for individual consumers in the UK. The study first provides data for the size, segmentation and growth of the UK personal non-life insurance market itself. It then quantifies the share of this market that is intermediated by brokers and, based on extensive primary research of all significant broking entities, it ranks the leading 60 brokers in the UK according to their revenues from personal non-life insurance, excluding income from other activities such as commercial lines, employee benefits, wholesale insurance and reinsurance. Therefore, this study provides genuinely unique data to answer the following questions: what proportion of UK personal lines business was handled by brokers in 2014 and how has this changed since 2010? how concentrated is the UK s personal non-life insurance broking market? how significant is personal lines broking to each of these brokers as opposed to other activities? what distinct areas of specialisation do the leading 60 brokers have, if any? how can the personal non-life insurance broking market be expected to develop up to 2018? Finaccord, 2015 Web: info@finaccord.com 3

4 What is the report structure? 0. Executive Summary: providing a concise evaluation of the principal findings of the report. 1. Introduction: offering rationale, description of methodology and some definitions. 2. Market Analysis: an in-depth analysis of the market for personal non-life insurance broking in the UK including: key regulatory developments; quantification and segmentation of personal non-life insurance from 2010 to 2014; brokers share of this market and quantification of broker fees and commissions from personal lines; analysis of broker market concentration; ranking of the leading 60 personal non-life insurance brokers in the UK by revenues; additional comments concerning broker distribution strategies and specialisation; and forecasts for personal non-life insurance premiums, brokers market share and brokers revenues up to Finaccord, 2015 Web: info@finaccord.com 4

5 What are the key features of the research? Key features of this research include: analysis of market size, growth, segmentation and trends for personal non-life insurance premiums: how much is the underlying insurance market worth in the UK? quantification and forecast of the share of personal non-life insurance premiums distributed by brokers, the revenues they earn from personal lines, and the importance of this sector to brokers; identification of the top 60 brokers in the UK specifically for personal non-life insurance, with estimates for the revenue they generate from this sector alone and their total employee numbers; detailed information concerning the structure of the broker market, including market concentration for the top three and top ten brokers, and the position of Ageas Retail, BGL Group, Hastings Insurance Group, Saga and Swinton Group plus other leading broking groups; availability of an accompanying BrokerBASE which provides key financial and other metrics for each broker, plus a convenient, supporting market data annexe, both in Excel format. Finaccord, 2015 Web: info@finaccord.com 5

6 How can the research be used? You may be able to use this research in one or more of the following ways: compare the progress of the underlying personal motor, household, travel, pet and other personal insurance markets from 2010 to 2014: which, if any, have been delivering growth in premiums? measure the value and growth in value of the UK personal lines broking market over the same period of time; gain access to a comprehensive ranking of the top 60 brokers of personal non-life insurance in the UK according to the revenues that they generated from this activity in 2014, and how a number have benefited from growth in the aggregator distribution channel and / or affinity and corporate partnerships; appreciate the degree to which the UK personal lines broking market is concentrated or fragmented and how this has changed since 2010; use the Excel BrokerBASE and market data annexe that come with the report to develop your own analyses and presentations. Finaccord, 2015 Web: info@finaccord.com 6

7 Who can use the research? 1. Insurers: this report provides a unique analysis of the importance of brokers specifically for personal non-life insurance in the UK. It will help you to judge if you have the right distribution strategy for your business and to identify if you are acquiring an appropriate volume of business with each of the leading brokers. 2. Brokers: this report enables you to quantify your market share specifically for personal non-life insurance, which cannot be done using any other published sources, and to plan potential acquisitions or to identify your main competitors. 3. Technology companies: the growing importance of online sales of personal non-life insurance in the UK means that there are opportunities for specialised IT service providers to develop and promote systems that improve broker efficiency, service and broker-insurer interaction. 4. Management consultancies: are you helping an insurance broker or underwriter with its future strategy in personal non-life insurance? Understand the current status of personal lines insurance broking in the UK, saving time and effort on researching the subject yourself. Finaccord, 2015 Web: info@finaccord.com 7

8 Sample data from the research Search for specific brokers View size and ranking of brokers in personal lines Broker group APPROXIMATE SPLIT OF TOTAL REVENUES Personal insurance Commercial insurance Employee benefits Wholesale / reinsurance Personal non-life insurance broking revenues, 2014 (GBP million) In-country ranking, 2014 Academy Insurance Services 86-91% 10-15% 0% 0% Motorway Direct 100% 0% 0% 0% Hughes Insurance 75-85% 18-23% 0% 0% Willis 0-5% 65-75% 5-10% 18-23% Caravan Guard 100% 0% 0% 0% Source: Finaccord report and BrokerBASE Appreciate how broker revenues split by activity Note - The BrokerBASE also includes each broker's website and UHC (ultimate holding company) if relevant plus entries for whether they have a specialist focus by product, client sector, client size and / or region and whether their transaction capability is purely offline, purely online or mixed. Finaccord, 2015 Web: info@finaccord.com 8

9 What is the cost and format? Personal Non-Life Insurance Brokers in the UK is available as a standard PDF document. The BrokerBASE and market data annexe that accompanies it at no further charge are in Excel format. Costs for this research, for a related title looking at commercial non-life insurance broking in the UK, and for other titles about different topics in the UK personal lines insurance market are as follows: REPORT PRICE * Personal Non-Life Insurance Brokers in the UK Commercial Non-Life Insurance Brokers in the UK Accident and Health Insurance in the UK Affinity and Partnership Marketing in UK Motor and Household Insurance Home Emergency Insurance and Assistance in the UK USD 1,195 USD 1,195 USD 1,395 USD 2,795 USD 1,395 For Singapore-based clients, GST at the prevailing rate will be added to the basic price. Costs quoted are for a single site user licence only. For a corporate user licence, please see the next slide for further details. Invoices can be paid in EUR or GBP, at the prevailing exchange rate, if preferred. Finaccord, 2015 Web: info@finaccord.com 9

10 How can the research be purchased? Simple. Just go to the relevant area of the Finaccord website, create your account (if you do not have one already) and place your order online. Products paid for online by card will be delivered immediately by but please allow up to one working day for delivery by if you choose to pay on receipt of invoice. With regards to the corporate user licence, you will be asked to choose one of the following options: 1. One office, one country: no supplement over and above basic cost of reports ordered 2. Multiple offices, one country: additional 20% over and above basic cost of reports ordered 3. Multiple offices, two to ten countries: additional 50% over and above basic cost of reports ordered 4. Global (unlimited offices in unlimited countries): additional 100% over and above basic cost of reports ordered Alternatively, you can place an order by sending your request to clearly stating the product(s) required, associated price(s) and billing details for eventual invoice or card payment receipt. Finaccord, 2015 Web: