United Kingdom: Critical Illness Market SWOT Analysis by Key Players - Friends Life, Aegon, The Exeter

HTF Market Intelligence released a new research report of 41 pages on title 'Critical Illness - United Kingdom (UK) Protection Insurance 2020' with detailed analysis, forecast and strategies. The study covers key regions and important players such as Legal & General, Aviva, Zurich, Royal London, Friends Life, Aegon, The Exeter, Vitality, AIG, Guardian, SquareHealth, Medical Screening Solutions, Defaqto, Finance and Technology Research Center, Choozi, Neilson Financial Services, Canada Life, HSBC Life, Scottish Widows, Anorak, Resurety, Quilter

Request a sample report @ https://www.htfmarketreport.com/sample-report/2806176-critical-illness-united-kingdom

Summary
New business premiums in the UK’s standalone critical illness market increased to £21.5m in 2019. Despite the strong growth, critical illness cover continues to represent a small proportion of the protection market. Advised sales are more common than non-advised sales. Together, the advice and restricted advice channels accounted for 83.1% of all standalone critical illness policies sold in 2019. The outbreak of COVID-19 has prompted insurers to tighten their underwriting guidelines, particularly with customer groups who are more vulnerable to the effects of the disease. Meanwhile, delays in onboarding new customers have been commonplace. This will lead the market to temporarily contract before returning to growth. The standalone critical illness market is forecast to reach £26.7m by 2024.

The report provides an in-depth assessment of the standalone critical illness market, looking at current and historical market sizes with regards to changes in contracts and premiums. It examines how critical illness products are distributed and highlights key changes in the competitive landscape, as well as the proposition of the key market players. It provides five-year forecasts of contracts and premiums to 2024 and discusses how the market, distribution, and products offered are likely to change in the future, as well as the reasons for these changes.

View Detailed Table of Content @ https://www.htfmarketreport.com/reports/2806176-critical-illness-united-kingdom

Companies Mentioned in the Report
Legal & General, Aviva, Zurich, Royal London, Friends Life, Aegon, The Exeter, Vitality, AIG, Guardian, SquareHealth, Medical Screening Solutions, Defaqto, Finance and Technology Research Center, Choozi, Neilson Financial Services, Canada Life, HSBC Life, Scottish Widows, Anorak, Resurety, Quilter

Scope
- The standalone critical illness market experienced another year of strong growth in 2019, with premiums rising by 9.3% to £21.5m.
- L&G retained its position as the largest provider of critical illness cover. The insurer accounted for more than a quarter of all critical illness contracts sold (standalone and with-rider) in 2018.
- Cancer is the most common reason for claims. COVID-19 has the potential to aggravate this, given the way the virus has strained NHS services.
- The standalone critical illness market is forecast to shrink in 2020 owing to COVID-19. Growth will resume a year later, with the market anticipated to grow to £26.7m in premiums by 2024.

Get Customization in the Report, Enquire Now @ https://www.htfmarketreport.com/enquiry-before-buy/2806176-critical-illness-united-kingdom

Reasons to Buy
- Examine the size of the standalone critical illness market.
- Discover who the leading providers of critical illness insurance are.
- Learn about the short-term and longer-term implications of COVID-19 on the market.
- Understand the influence of other factors on market growth.

Table of Contents
1. Background: The Protection Market
Market size
Distrib

....Continued

Buy this report @ https://www.htfmarketreport.com/buy-now?format=1&report=2806176

Thanks for reading this article, you can also get individual chapter wise section or region wise report version like North America, Europe or Asia.

Craig Francis (PR & Marketing Manager)
HTF Market Intelligence Consulting Private Limited
Unit No. 429, Parsonage Road Edison, NJ
New Jersey USA – 08837
Phone: +1 (206) 317 1218
sales@htfmarketreport.com

About Author:
HTF Market Report is a wholly owned brand of HTF market Intelligence Consulting Private Limited. HTF Market Report global research and market intelligence consulting organization is uniquely positioned to not only identify growth opportunities but to also empower and inspire you to create visionary growth strategies for futures, enabled by our extraordinary depth and breadth of thought leadership, research, tools, events and experience that assist you for making goals into a reality. Our understanding of the interplay between industry convergence, Mega Trends, technologies and market trends provides our clients with new business models and expansion opportunities. We are focused on identifying the “Accurate Forecast” in every industry we cover so our clients can reap the benefits of being early market entrants and can accomplish their “Goals & Objectives”.

This release was published on openPR.