News Feed Item

UK Pet Insurance: Competitor Dynamics

LONDON, March 3, 2014 /PRNewswire/ -- Reportbuyer.com just published a new market research report: UK Pet Insurance: Competitor Dynamics

The UK pet insurance market was relatively consolidated in 2011–12, both in terms of underwriters and consumer-facing brands. Due to stagnant subscriber growth, insurers are targeting the same customers, and movement in the market is coming from churn. The pet insurance market has reached a point where it needs to increase product penetration in order to grow.


- Gage the performance of the top pet insurance underwriters in terms of their GWP.
- Ensure your strategy differentiates your business from your competitors in this market.
- Gain insight into the major developments that will influence competitors active in this space in 2013 and beyond.


RSA increased its gross written premiums by 150% in 2011 following its partnership deal with Tesco Bank, which lifted it to second place.

Direct Line Group was the biggest loser of 2011-12, with its market share dropping from 31.8% in 2010 to 17.0% in 2011. There was a further decline to 11.1% in 2012, after Direct Line Group was replaced as Tesco Bank's pet insurance underwriter.

Insurers are expected to focus on keeping loss ratios in check in 2013, as books of business across the industry mature and pressure by claims inflation persists.

Reasons to purchase this report

- Which companies were the top players in the pet insurance market in 2012?
- Who were the movers and shakers increasing market share during this period?
- What will be the developments shaping the competitive landscape in 2013 and beyond?


•Competitive landscape
•Key issues shaping competition

Competitor Dynamics

•RSA jumped to second place after replacing DLG as the underwriter for Tesco Bank- Allianz achieved market share growth in 2012 after five years of gradual decline
- RSA increased its GWP by almost 190% over the two years following its partnership deal with Tesco Bank
- DLG's premium income has been plummeting since the loss of the Tesco account
- AXA shrank GWP by 10.0% in 2012, after losing four partnerships
- LV= grew its pet insurance book by 45.9% in 2012, but its market share still remains low
- Market entrance by Munich Re fills gap left by exits
- QBE seems to be the next insurer to exit the pet market

•Loss ratios will be the focus in 2013 as insurers strive to remain profitable- Pet insurance is a consolidated market, both in terms of insurers and brands
- Tesco Bank is the kingmaker of the pet insurance market
- No new providers are expected to enter the pet insurance market in 2013
- Insurers will focus on loss ratios in 2013, and avoid any major price competition
- Gibraltar-based underwriters are on the rise in the pet insurance market



•Abbreviations and acronyms
•Definitions- Premium income measures
- Distribution definitions
- Other

•Methodology- Primary and secondary research
- Gross written premium and combined operating ratio estimates and forecast methodology
- Advertising and marketing spend data

•Further reading


•Table: Top 10 UK pet insurers by GWP (£000s), 2009–12
•Table: Top 10 UK pet insurers by market share (%), 2009–12
•Table: Allianz brands' and affinity partners' brand shares, 2012
•Table: RSA brands' and affinity partners' brand shares, 2012
•Table: DLG brands' and affinity partners' brand shares, 2012
•Table: AXA brands' and affinity partners' brand shares, 2012


•Figure: RSA was the market's biggest mover in 2011 and 2012 due to its partnership deal with Tesco

Companies Mentioned

Allianz Group, AXA, Bunzl plc, Hutchison 3G UK Limited, Informa plc, J Sainsbury plc, LVMH Moet Hennessy Louis Vuitton SA, Marks and Spencer Group plc, Munich Re, Parcelforce Worldwide, Royal Bank of Scotland Group PLC, RSA Insurance Group plc, Schindler Holding Ltd., Sudzucker AG

Read the full report:
UK Pet Insurance: Competitor Dynamics


For more information:
Sarah Smith
Research Advisor at Reportbuyer.com
Email: [email protected]  
Tel: +44 208 816 85 48
Website: www.reportbuyer.com

SOURCE ReportBuyer

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
The Open Connectivity Foundation (OCF), sponsor of the IoTivity open source project, and AllSeen Alliance, which provides the AllJoyn® open source IoT framework, today announced that the two organizations’ boards have approved a merger under the OCF name and bylaws. This merger will advance interoperability between connected devices from both groups, enabling the full operating potential of IoT and representing a significant step towards a connected ecosystem.
Kubernetes, Docker and containers are changing the world, and how companies are deploying their software and running their infrastructure. With the shift in how applications are built and deployed, new challenges must be solved. In his session at @DevOpsSummit at19th Cloud Expo, Sebastian Scheele, co-founder of Loodse, will discuss the implications of containerized applications/infrastructures and their impact on the enterprise. In a real world example based on Kubernetes, he will show how to ...
November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Penta Security is a leading vendor for data security solutions, including its encryption solution, D’Amo. By using FPE technology, D’Amo allows for the implementation of encryption technology to sensitive data fields without modification to schema in the database environment. With businesses having their data become increasingly more complicated in their mission-critical applications (such as ERP, CRM, HRM), continued ...
Enterprises have been using both Big Data and virtualization for years. Until recently, however, most enterprises have not combined the two. Big Data's demands for higher levels of performance, the ability to control quality-of-service (QoS), and the ability to adhere to SLAs have kept it on bare metal, apart from the modern data center cloud. With recent technology innovations, we've seen the advantages of bare metal erode to such a degree that the enhanced flexibility and reduced costs that cl...
SYS-CON Events announced today that Embotics, the cloud automation company, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Embotics is the cloud automation company for IT organizations and service providers that need to improve provisioning or enable self-service capabilities. With a relentless focus on delivering a premier user experience and unmatched customer support, Embotics is the fas...
SYS-CON Events announced today that Cloudbric, a leading website security provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Cloudbric is an elite full service website protection solution specifically designed for IT novices, entrepreneurs, and small and medium businesses. First launched in 2015, Cloudbric is based on the enterprise level Web Application Firewall by Penta Security Sys...
Intelligent machines are here. Robots, self-driving cars, drones, bots and many IoT devices are becoming smarter with Machine Learning. In her session at @ThingsExpo, Sudha Jamthe, CEO of IoTDisruptions.com, will discuss the next wave of business disruption at the junction of IoT and AI, impacting many industries and set to change our lives, work and world as we know it.
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
Governments around the world are adopting Safe Harbor privacy provisions to protect customer data from leaving sovereign territories. Increasingly, global companies are required to create new instances of their server clusters in multiple countries to keep abreast of these new Safe Harbor laws. Is it worth it? In his session at 19th Cloud Expo, Adam Rogers, Managing Director of Anexia, Inc., will discuss how to keep your data legal and still stay in business.
In his session at 19th Cloud Expo, Nick Son, Vice President of Cyber Risk & Public Sector at Coalfire, will discuss the latest information on the FedRAMP Program. Topics will cover: FedRAMP Readiness Assessment Report (RAR). This new process is designed to streamline and accelerate the FedRAMP process from the traditional timeline by initially focusing on technical capability instead of documentation preparedness. FedRAMP for High-impact level systems. Early in 2016 FedRAMP officially publishe...
SYS-CON Events announced today that Impiger Technologies will exhibit in Booth #109 at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Impiger Technologies is a world-class, enterprise software product engineering company specializing in Mobile Application Development, Cloud Applications, Microsoft Technology Solutions, Web Technology and Telecom Services. Impiger Technologies helps enterprises improve busi...
Qosmos, the market leader for IP traffic classification and network intelligence technology, has announced that it will launch the Launch L7 Viewer at CloudExpo | @ThingsExpo Silicon Valley, being held November 1 – 3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. The L7 Viewer is a traffic analysis tool that provides complete visibility of all network traffic that crosses a virtualized infrastructure, up to Layer 7. It facilitates and accelerates common IT tasks such as VM migra...
In the 21st century, security on the Internet has become one of the most important issues. We hear more and more about cyber-attacks on the websites of large corporations, banks and even small businesses. When online we’re concerned not only for our own safety but also our privacy. We have to know that hackers usually start their preparation by investigating the private information of admins – the habits, interests, visited websites and so on. On the other hand, our own security is in danger bec...
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
As companies adopt the cloud-to-streamline workflow, deployment hasn’t been very seamless because of IT concerns surrounding security risks. The cloud offers many benefits, but protecting and securing information can be tricky across multiple cloud providers and remains IT’s overall responsibility. In his session at 19th Cloud Expo, Simon Bain, CEO of SearchYourCloud, will address security compliance issues associated with cloud applications and how document-level encryption is critical for sup...