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  5. > Channel Metrics: Consumer Distribution Trends in UK Accident and Health Insurance

Channel Metrics: Consumer Distribution Trends in UK Accident and Health Insurance is the most detailed and up-to-date guide to distribution trends in accident and health insurance in the UK available on a published basis. It incorporates results for four insurance policy types – dental insurance, health / hospital cash plans, personal accident insurance and private medical insurance – and these are presented both in an aggregated format and also separately for each policy type. It analyses: how consumers acquire these products - e.g. online, telephone, post or in person; from whom they acquire them - e.g. direct from the provider, through brokers or affinity schemes; and how often they acquire them - i.e. how many consumers acquired one or more of them in 2013, either for the first time or by switching provider instead of renewing or carrying on with an existing product. Findings from this survey, which represents trends in 2013, are compared with those from 2007, 2009 and 2011 to show trends over time. Furthermore, results are provided separately for all insured respondents (i.e. the 'stock'), for new buyers and switchers (i.e. those making a distribution choice in the year in question), and for customers renewing their policy or policies (i.e. showing their distribution choices in the year that they originally acquired one or more of these types of insurance).

Generic and specific distribution channels covered by this Channel Metrics briefing are as follows:

Direct sales

Insurance aggregators and brokers
of which
Aggregators
Insurance advisers or brokers

Not-for-profit affinity groups
of which
Charities
Educational institutions
Professional or trade associations
Sports organisations
Trade unions

Financial partners
of which
Banks or building societies
Credit card issuers

Non-financial commercial partners
of which
Cashback websites (for health / hospital cash plans and private medical insurance only)
Catalogue or other retailers
Dentists (for dental insurance only)
Electricity, gas or water companies (for personal accident insurance only)
Football or other sports clubs
Loyalty schemes
Magazines, newspapers or other media
Supermarkets

Worksite

Channel Metrics: Consumer Distribution Trends in UK Accident and Health Insurance is based on the results of an online survey of 1,000 consumers undertaken during December 2013.

Table Of Contents

Channel Metrics: Consumer Distribution Trends in UK Accident and Health Insurance
0.0 EXECUTIVE SUMMARY 1
1.0 INTRODUCTION 2
What is this report about? 2
Rationale 2
Updating the results from previous biannual surveys 2
Analysis of consumers making an active distribution choice 2
Analysis of consumers taking out financial services in prior years 3
Analysis of distribution interfaces and channels 3
Expanding upon the results from previous surveys to reflect new distribution trends 3
Option for customised data analysis 5
Finaccord 5
Channel Metrics briefings 5
Other UK consumer research publications 5
UK affinity and partnership marketing publications 6
2.0 SURVEY FINDINGS 7
Introduction 7
Switching rates, brand new sales and renewals 7
Distribution interfaces 9
Interfaces used by all customers 9
Interfaces used by switchers and new buyers 11
Interfaces used by customers renewing a policy 13
Distribution channels 15
Channels used by all customers 15
Channels used by switchers and new buyers 18
Channels used by customers renewing a policy 20
Comparative strength of channels between sales and renewals 23
Methods of funding worksite accident and health insurance 24
3.0 APPENDIX 25
Detailed findings for dental insurance 25
Detailed findings for health / hospital cash plans 30
Detailed findings for personal accident insurance 35
Detailed findings for private medical insurance 40
Research sample and mechanics 45
Research methodology and structure 47

List of Graphics / Tables


0.0 EXECUTIVE SUMMARY 1
1.0 INTRODUCTION 2
The financial services distribution universe: channels and interfaces 4
2.0 SURVEY FINDINGS 7
% of consumers switching provider, acquiring accident or health insurance for the first time or renewing
with their existing provider, by product type, 2013 8
% of consumers switching provider, acquiring accident or health insurance for the first time or renewing
with their existing provider, by product type, 2013 (table) 9
Distribution interfaces used by all respondents holding accident or health insurance, 2007, 2009, 2011
and 2013 10
Distribution interfaces used by all respondents holding accident or health insurance, 2007, 2009, 2011
and 2013 (table) 11
Distribution interfaces used by switchers and new buyers of accident or health insurance, 2007, 2009,
2011 and 2013 12
Distribution interfaces used by switchers and new buyers of accident or health insurance, 2007, 2009,
2011 and 2013 (table) 13
Distribution interfaces used by respondents renewing accident or health insurance, 2007, 2009, 2011 and
2013 14
Distribution interfaces used by respondents renewing accident or health insurance, 2007, 2009, 2011 and
2013 (table) 15
Distribution channels used by all respondents holding accident or health insurance, 2007, 2009, 2011 and
2013 16
Distribution channels used by all respondents holding accident or health insurance, 2007, 2009, 2011 and
2013 (table) 17
Distribution channels used by switchers and new buyers of accident or health insurance, 2007, 2009,
2011 and 2013 18
Distribution channels used by switchers and new buyers of accident or health insurance, 2007, 2009,
2011 and 2013 (table) 19
Distribution channels used by respondents renewing accident or health insurance, 2007, 2009, 2011 and
2013 21
Distribution channels used by respondents renewing accident or health insurance, 2007, 2009, 2011 and
2013 (table) 22
Comparison of main distribution channels used for acquiring accident or health insurance, switchers and
new buyers versus renewals, 2013 23
Methods of funding accident or health insurance acquired via the worksite, 2013 24
3.0 APPENDIX 25
Distribution interfaces used by all respondents holding dental insurance, 2009, 2011 and 2013 25
Distribution interfaces used by switchers and new buyers of dental insurance, 2009, 2011 and 2013 26
Distribution interfaces used by respondents renewing dental insurance, 2009, 2011 and 2013 26
Distribution channels used by all respondents holding dental insurance, 2009, 2011 and 2013 27
Distribution channels used by switchers and new buyers of dental insurance, 2009, 2011 and 2013 28
Distribution channels used by respondents renewing dental insurance, 2009, 2011 and 2013 29
Distribution interfaces used by all respondents holding health / hospital cash plans, 2007, 2009, 2011 and
2013 30
Distribution interfaces used by switchers and new buyers of health / hospital cash plans, 2007, 2009,
2011 and 2013 31
Distribution interfaces used by respondents renewing health / hospital cash plans, 2007, 2009, 2011 and
2013 31
Distribution channels used by all respondents holding health / hospital cash plans, 2007, 2009, 2011 and
2013 32
Distribution channels used by switchers and new buyers of health / hospital cash plans, 2007, 2009, 2011
and 2013 33
Distribution channels used by respondents renewing health / hospital cash plans, 2007, 2009, 2011 and
2013 34
Distribution interfaces used by all respondents holding personal accident insurance, 2007, 2009, 2011
and 2013 35
Distribution interfaces used by switchers and new buyers of personal accident insurance, 2007, 2009,
2011 and 2013 36
Distribution interfaces used by respondents renewing personal accident insurance, 2007, 2009, 2011 and
2013 36
Distribution channels used by all respondents holding personal accident insurance, 2007, 2009, 2011 and
2013 37
Distribution channels used by switchers and new buyers of personal accident insurance, 2007, 2009,
2011 and 2013 38
Distribution channels used by respondents renewing personal accident insurance, 2007, 2009, 2011 and
2013 39
Distribution interfaces used by all respondents holding private medical insurance, 2007, 2009, 2011 and
2013 40
Distribution interfaces used by switchers and new buyers of private medical insurance, 2007, 2009, 2011
and 2013 41
Distribution interfaces used by respondents renewing private medical insurance, 2007, 2009, 2011 and
2013 41
Distribution channels used by all respondents holding private medical insurance, 2007, 2009, 2011 and
2013 42
Distribution channels used by switchers and new buyers of private medical insurance, 2007, 2009, 2011
and 2013 43
Distribution channels used by respondents renewing private medical insurance, 2007, 2009, 2011 and
2013 44
Sample breakdown by age group, household income band and geographical location 46

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