UK SME Insurance Market May See a Big Move | Major Giants AXA, Aviva, Allianz, Zurich

The UK SME Insurance Market to witnessed good recovery in growth post first half of 2020 and is projected coverup market sizing during the forecast period (2021-2025). The assessment provides a 360° view and insights - outlining the key outcomes of the UK SME Insurance: market, current scenario analysis that highlights slowdown aims to provide unique strategies and solutions following and benchmarking key players strategies. In addition, the study helps with competition insights of emerging players in understanding the companies more precisely to make better informed decisions.

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If you are involved in the UK SME Insurance: industry or intend to be, then this study will provide you comprehensive outlook. It’s vital you keep your market knowledge up to date segmented by types, application and major players. If you are targeting different set of players/manufacturers according to regional or country of your interest we can provide customized study according to that.

The UK SME insurance market saw growth pick up significantly in 2018, rising from 1.4% in 2017 to 6.3% in 2018. This was due to a slight shift in the makeup of SME business numbers, an uptick in penetration across the majority of product lines, and increased weather-based claims (a consequence of Storm Emma and the Beast from the East) that pushed up premiums. However, SMEs endured a difficult year in 2018 due to a stagnant economy, which has seen consumer and small business confidence plummet. The sector is very closely linked to the economy, and consequently SMEs remain very concerned about Brexit and its potential implications going forward. The performance of this sector is critical for the prospects of the wider insurance market in the UK, as commercial and SME lines provide higher growth opportunities for insurers than personal business.

This report analyzes the UK SME insurance market. Economic factors including GDP growth, SME business confidence, and unemployment rates are explored in relation to the UK’s business landscape. Growth in the number of SMEs is explored by business size and industry. The SME market is discussed in relation to the uptake of commercial insurance. Finally, an estimate of the current and historic market size is provided, in addition to a five-year forecast.

Scope
- 10 out of the 11 insurance products covered in our SME Insurance Survey saw penetration rates rise in 2019, but overall penetration rates fell according to our 2019 Insurance Consumer Survey.
- Brexit is the biggest concern for UK SMEs, with 45.3% of firms worried about its implications (up from 36.8% in 2017).
- The UK SME insurance market is forecast to be worth £9.3bn by 2023.
- The number of micro businesses declined by 0.6% in 2018, while small-sized enterprises (0.8%) and medium companies (2.9%) both increased.

Reasons to buy
- Be aware of the significance of SMEs within the commercial insurance market and how they are influenced by the UK economy.
- Adapt your strategy and ensure you remain competitive by understanding the opportunities for growth within the SME insurance market.
- Recognize challenges the SME insurance market faces.
- See GlobalData’s forecasts for the SME market.

Companies Mentioned in the Report
AXA
Aviva
Allianz
Hiscox
Zurich

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Reasons to Purchase this Report:
* UK SME Insurance: Market Analysing the outlook of the market with the recent trends and SWOT analysis * UK SME Insurance: Market dynamics scenario, along with growth opportunities of the market in the years to come
* UK SME Insurance: Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects * Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
* UK SME Insurance: Market value (USD Million) and volume (Units Million) data for each segment and sub-segment
* Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
* Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
* 1-year analyst support, along with the data support in excel format.

Important Extracts from Table of Content
Chapter 1 Executive Summary

Chapter 2 Abbreviation and Acronyms

Chapter 3 Preface
3.1 Research Scope
3.2 Research Methodology
3.2.1 Primary Sources
3.2.2 Secondary Sources
3.2.3 Assumptions

Chapter 4 UK SME Insurance: Market Landscape
4.1 Market Overview
4.2 Classification/Types
4.3 Application/End Users

Chapter 5 UK SME Insurance: Market Trend Analysis
5.1 Introduction
5.2 Drivers
5.3 Restraints
5.4 Opportunities
5.5 Threats

Chapter 6 UK SME Insurance: Market Sizing & Estimates by Revenue, Sales Volume & Price

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