UK Travel Insurance Market -Key Trends & Opportunities to 2018

1
Travel Insurance in the UK, Key Trends and
Opportunities to 2018
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• Published Oct 2013
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Travel Insurance in the UK, Key Trends and
Opportunities to 2018

• Premium growth during the review period was
  subject to the downside forces of the UKs
  deepest post-war recession.

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Travel Insurance in the UK, Key Trends and
Opportunities to 2018

• Summary
• Gross written premiums for travel insurance were
  valued at GBP724 million in 2012, and an
  estimated GBP742 million in 2013. Volatile
  premium growth was recorded during the review
  period (2008-2012), as demand was strongly
  influenced by the UK's recessionary economic
  backdrop limiting demand for overseas travel. The
  compound annual growth rate (CAGR) registered
  during the review period was more stable at
  -0.53, however.
• UK residents made fewer trips abroad during the
  review period, with discretionary spending on
  holidays constrained by weak growth in earnings,
  employment uncertainty and rising travel costs,
  while businesses reduced budgets for corporate
  travel. A preference for domestic holidays
  induced a 12.5 million dip in the number of
  leisure and business trips abroad during the
  review period.
• Medical costs represented 56 of travel insurance
  claims in 2012, and, despite fewer overseas trips
  being made, costs relating to claims have risen
  sharply. The average medical claim totaled GBP900
  in 2012, 50 higher than in 2004. The reported
  refusal of the European Health Insurance Card
  (EHIC) in hospitals in Spain, Greece and Cyprus
  added to insurers' cost burdens.

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Travel Insurance in the UK, Key Trends and
Opportunities to 2018

• Scope
• This report provides market analysis, information
  and insights into the UK travel insurance
  business
• It provides a global snapshot of market size
• It analyses drivers and the outlook for the
  market
• It provides information on distribution channels
• It covers deals, news and regulatory developments
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Travel Insurance in the UK, Key Trends and
Opportunities to 2018

• Reasons To Buy
• Gain an understanding of the UK travel insurance
  market size
• Learn about the performance of market drivers and
  distribution channels
• Understand the competitive landscape in terms of
  performance, profitability and product innovation
• Find out more on key deals and recent
  developments in the market
• Explore thousands of market research reports on
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Travel Insurance in the UK, Key Trends and
Opportunities to 2018

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