UK Pet Insurance: Distribution & Marketing 2018 Likely to Experience a Tremendous Growth in Near Future

The report, titled “UK Pet Insurance: Distribution & Marketing 2018,” gives a thorough account of the present state of the global UK Pet Insurance market and the industry concerning it. The report presents an expansive account of the crucial elements of the market, the macro and micro factors that are essential for companies to gain competitive advantage in the market, the key factors that will have the most significant influence on the growth trajectory of the market, and several other aspects of the UK Pet Insurance market from a regional as well as a global perspective.
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"UK Pet Insurance: Distribution & Marketing 2018", report explores pet insurance purchasing behavior, and how consumer preferences are changing over time. It discovers what is most influential to customers when purchasing a policy and also reveals the most popular providers in the market. New trends and innovations are highlighted, as well as the key factors that will influence the market over the next few years.
Purchasing preferences moved back towards price comparison sites and brokers in 2018, after a strong shift towards the direct channel in 2017. The direct channel still leads the way by over 20 percentage points (pp) for both cats and dogs, but it has seen reductions of over 5pp in both products. Unsurprisingly, consumers continue to move towards online purchases, with smartphones and tablets becoming a serious option for buying insurance. Every non-digital method saw declines in their share for cats and dogs as a result. Petplan remains dominant despite suffering a slight decline in its share of respondent selection.
The report gathers the vast market data with the help of a variety of primary and secondary research methodologies, narrowing-down the data with the help of several industry-best analytical methods. A complete overview of the market’s regulatory scenario has also been included in the report, giving details regarding the key rules, regulations, plans, and policies that govern several decisions and impact the market’s growth dynamics.
Scope
- Direct to insurer remains the most popular channel of distribution for pet insurance, despite a decline in share.
- Online via desktop PCs remains the preferred method of arranging pet cover, with all offline methods declining.
- Switching levels remain low among pet insurance customers, but a considerable number of new entrants continue to enter the market.
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Reasons to buy
- Understand consumer purchasing decisions and how these will influence the market over the next few years.
- Improve customer engagement by recognizing what is most important to them and how to adapt products and services to satisfy their needs.
- Discover which providers lead the way in the pet space and how providers are changing the market through new innovations.
- Adapt your distribution strategy to ensure it still meets customer purchasing behaviors.
- Understand advertising strategies and discover which insurers are investing the most into them.
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UK Pet Insurance: Market Dynamics and Opportunities 2018 | Now Available at Researchmoz.us

ResearchMoz prepared this most up-to-date research on "UK Pet Insurance: Market Dynamics and Opportunities 2018".

This report analyzes the UK pet insurance market, looking at market size as well as changes in premiums, claims, medical costs, pet ownership, and opportunities. It discusses competitors in the market, how the market is likely to change due to rising costs and emerging technology, and provides future forecasts of market size up to 2022.

The UK pet insurance market experienced another year of growth in 2017, with total market gross written premiums (GWP) of 1,190m - an increase of 13.8% compared to 2016. The number of policies also grew considerably by 10.9% to reach 3.76 million. Yet there is still considerable potential for further growth as the majority of pets in the UK remain uninsured. Medical inflation remains one of the main driving forces behind the increase in GWP, with insurers passing on the cost to policyholders. The sustainability of premium increases endures as this markets greatest challenge and threat.

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Scope

- The dog insurance market represents the largest percentage of the total pet insurance market. With the UK population of cats and dogs estimated to be similar in size, product uptake appears to be lowest in the cat market, while premiums are higher in the dog market.
- The increasing cost of pet healthcare is likely to drive growth within the market. Uninsured owners will feel the squeeze, resulting in an increase in uptake as owners begin to realize the benefits of insurance.
- Insurers could look to other markets such as health insurance in order to develop solutions to combat the rising cost of claims. Technological developments such as wearable devices offer a major opportunity.

Reasons to buy

- Keep up to date with the new trends and innovations in the market.
- Benchmark yourself against competitors.
- Learn about growth in all aspects of the market, what is driving it, and whether it looks set to continue.

Table of Contents

1. EXECUTIVE SUMMARY 2
1.1. Market summary 2
1.2. Key findings 2
1.3. Critical success factors 2

2. THE PET INSURANCE MARKET 7
2.1. The UK pet insurance market continued to grow in 2017 7
2.1.1. UK pet insurance GWP reaches its highest point 7
2.1.2. Another year of growth for the number of policies written 9
2.2. The gross cost of claims continues on its upward trend 12
2.2.1. Further advancements in treatments are fueling an increase in the cost of claims 12
2.2.2. Veterinary salaries have had little impact on the cost of claims 14
2.2.3. The average claim varies considerably depending on the type of pet 15
2.3. Summary of the current market 16
2.4. The UK pet population has increased in 2018 18
2.4.1. The number of households with at least one pet has also risen 18
2.4.2. Obesity within the UK pet population is a hidden problem 20

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3. COMPETITOR PROFILES 22
3.1. There has been little change in terms of the dominant players 22
3.1.1. Allianz and RSA remain the main players in the market 22
3.1.2. Bought By Many brings a new approach to the market 23
3.1.3. Animal Friends also aims to streamline the claims process 24
3.2. The market leaders have the greatest marketing expenditure 24

...

5. APPENDIX 38
5.1. Abbreviations and acronyms 38
5.2. HHI 38
5.3. Forecasting methodology 39
5.4. Bibliography 39

Continue...

UK Pet Insurance: Distribution and Marketing 2016 | Now Availble At Researchmoz.us

Researchmoz added Most up-to-date research on "UK Pet Insurance: Distribution and Marketing 2016" to its huge collection of research reports.

2016 saw the UKs supermarkets and major retailers confirm their role in the distribution of pet insurance, with a significant proportion of consumers now seeking alternative channels to obtain their policies. While many pet owners still prefer to approach their insurer directly, supermarkets and retailers are benefiting from those who value convenience and the opportunity to purchase insurance cover at the same time as other products. Much of the growth in this channel can be attributed to the marketing and advertising strategies employed by these groups. Direct mailing is a favored option, as these groups often have a wide customer base and many subscribers to their internet channels, and have a tendency to offer simpler online purchasing platforms than traditional insurers.

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Key Findings
- Retail/affinity providers are now the second most popular channel of distribution for pet insurance.
- The internet, using desktop PCs, continues as the preferred method of arranging pet cover.
- Switching levels are low among pet insurance customers, although many are inclined to compare prices on an aggregator platform before ultimately committing to their initial provider.
- Price remains a significant influence on the decision-making process for pet customers.

Synopsis
Verdict Financials UK Pet Insurance: Distribution and Marketing 2016 explores consumer purchasing behavior and how consumer preferences are changing over time. This report discovers what is most influential to customers when purchasing a policy and also reveals the most popular providers in the market. New trends and innovations are highlighted, as well as the key factors that will influence the market over the next few years.

Reasons To Buy
- To understand consumer purchasing decisions and how these will influence the market over the next few years.
- To improve customer engagement by recognizing what is most important to them and how insurers can adapt their products and services to meet their needs.
- To discover which providers lead the way in the travel insurance space and how providers are revolutionizing the market through new innovations.
- Adapt your distribution strategy to ensure it still meets customer purchasing behavior.

Make an Enquiry of this report @ http://www.researchmoz.us/enquiry.php?type=E&repid=904528