Welcome!

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.

Scope

- 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.

Highlights

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?

EXECUTIVE SUMMARY

•Competitive landscape
•Key issues shaping competition

Competitor Dynamics

•Introduction
•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

•Conclusion

APPENDIX

•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

•Bibliography
•Further reading

LIST OF TABLES

•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

LIST OF FIGURES

•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

http://www.reportbuyer.com/banking_finance/insurance/uk_pet_insurance_competitor_dynamics.html#utm_source=prnewswire&utm_medium=pr&utm_campaign=Insurance

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
"Cloud Academy is an enterprise training platform for the cloud, specifically public clouds. We offer guided learning experiences on AWS, Azure, Google Cloud and all the surrounding methodologies and technologies that you need to know and your teams need to know in order to leverage the full benefits of the cloud," explained Alex Brower, VP of Marketing at Cloud Academy, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clar...
In his session at 21st Cloud Expo, Carl J. Levine, Senior Technical Evangelist for NS1, will objectively discuss how DNS is used to solve Digital Transformation challenges in large SaaS applications, CDNs, AdTech platforms, and other demanding use cases. Carl J. Levine is the Senior Technical Evangelist for NS1. A veteran of the Internet Infrastructure space, he has over a decade of experience with startups, networking protocols and Internet infrastructure, combined with the unique ability to it...
While some developers care passionately about how data centers and clouds are architected, for most, it is only the end result that matters. To the majority of companies, technology exists to solve a business problem, and only delivers value when it is solving that problem. 2017 brings the mainstream adoption of containers for production workloads. In his session at 21st Cloud Expo, Ben McCormack, VP of Operations at Evernote, discussed how data centers of the future will be managed, how the p...
"NetApp is known as a data management leader but we do a lot more than just data management on-prem with the data centers of our customers. We're also big in the hybrid cloud," explained Wes Talbert, Principal Architect at NetApp, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"We're focused on how to get some of the attributes that you would expect from an Amazon, Azure, Google, and doing that on-prem. We believe today that you can actually get those types of things done with certain architectures available in the market today," explained Steve Conner, VP of Sales at Cloudistics, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Space Monkey by Vivent Smart Home is a product that is a distributed cloud-based edge storage network. Vivent Smart Home, our parent company, is a smart home provider that places a lot of hard drives across homes in North America," explained JT Olds, Director of Engineering, and Brandon Crowfeather, Product Manager, at Vivint Smart Home, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
It is of utmost importance for the future success of WebRTC to ensure that interoperability is operational between web browsers and any WebRTC-compliant client. To be guaranteed as operational and effective, interoperability must be tested extensively by establishing WebRTC data and media connections between different web browsers running on different devices and operating systems. In his session at WebRTC Summit at @ThingsExpo, Dr. Alex Gouaillard, CEO and Founder of CoSMo Software, presented ...
Enterprises are adopting Kubernetes to accelerate the development and the delivery of cloud-native applications. However, sharing a Kubernetes cluster between members of the same team can be challenging. And, sharing clusters across multiple teams is even harder. Kubernetes offers several constructs to help implement segmentation and isolation. However, these primitives can be complex to understand and apply. As a result, it’s becoming common for enterprises to end up with several clusters. Thi...
"There's plenty of bandwidth out there but it's never in the right place. So what Cedexis does is uses data to work out the best pathways to get data from the origin to the person who wants to get it," explained Simon Jones, Evangelist and Head of Marketing at Cedexis, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
WebRTC is great technology to build your own communication tools. It will be even more exciting experience it with advanced devices, such as a 360 Camera, 360 microphone, and a depth sensor camera. In his session at @ThingsExpo, Masashi Ganeko, a manager at INFOCOM Corporation, introduced two experimental projects from his team and what they learned from them. "Shotoku Tamago" uses the robot audition software HARK to track speakers in 360 video of a remote party. "Virtual Teleport" uses a multip...
"We work around really protecting the confidentiality of information, and by doing so we've developed implementations of encryption through a patented process that is known as superencipherment," explained Richard Blech, CEO of Secure Channels Inc., in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
High-velocity engineering teams are applying not only continuous delivery processes, but also lessons in experimentation from established leaders like Amazon, Netflix, and Facebook. These companies have made experimentation a foundation for their release processes, allowing them to try out major feature releases and redesigns within smaller groups before making them broadly available. In his session at 21st Cloud Expo, Brian Lucas, Senior Staff Engineer at Optimizely, discussed how by using ne...
"IBM is really all in on blockchain. We take a look at sort of the history of blockchain ledger technologies. It started out with bitcoin, Ethereum, and IBM evaluated these particular blockchain technologies and found they were anonymous and permissionless and that many companies were looking for permissioned blockchain," stated René Bostic, Technical VP of the IBM Cloud Unit in North America, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventi...
The question before companies today is not whether to become intelligent, it’s a question of how and how fast. The key is to adopt and deploy an intelligent application strategy while simultaneously preparing to scale that intelligence. In her session at 21st Cloud Expo, Sangeeta Chakraborty, Chief Customer Officer at Ayasdi, provided a tactical framework to become a truly intelligent enterprise, including how to identify the right applications for AI, how to build a Center of Excellence to oper...