New Report Offers Analysis and Insights on UK Protection Insurance 2017: Critical Illness & Income Protection

Market Research Hub (MRH) has included a new report in its repository titled ‘UK Protection Insurance 2017: Critical Illness & Income Protection’. This report reveals information on the income protection and critical illness insurance in the United Kingdom, and refers to the size of the market with respect to variations in premiums and contracts, and also refers to claims. This report gives out the obstacles to the engagement of the consumers, how the product distribution is done, and information about the key players in this market and how they operate. The report gives estimates of size of the market for five years of premiums till 2021, and also gives information on the impact of developing healthcare technology and its impact on the changing market conditions.

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The report goes on to give information about the income protection and critical illness insurance markets and states that this market was growing in the year 2016. There was a heightened demand for injury and illness oriented products. Nevertheless, still they accounted for nearly ten percent of the overall insurance market with respect to premiums and contracts. The market for protection products remains complex and advisors are important to the distribution of such products. Specifically, income protection is highly dependent on such advice-givers, and this trend is expected to remain as it is presently. However, the effect of online medium is showing on this market, and individuals are buying critical illness insurance online, without going for any advice. However, this doesn’t diminish the importance of advisors in this market. In order to keep the momentum of this market going, insurance providers and consultants must make huge efforts in continuing to build customer engagement with respect to such products.

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Inclusions of the Report

The report starts with an executive summary and gives the key findings of this report and an important section of this report focuses on giving critical success factors in the UK insurance market. The report then goes on to discuss the market dynamics and states that the protection market has reached an altogether different level due to the effect of RDR 10. After discussing such type of factors, the report goes on to state the distribution dynamics of the UK insurance sector and states that the total protection market is exhibiting a decline in the restricted advice channel. The report also gives a competitor dynamics that is important for studying the competition landscape of the insurance sector in the United Kingdom.

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This release was published on openPR.