Thank you for getting in contact with ReportLinker. Out of the many reports that we have access to about the tourism industry in the UK, here are two that we hope will help to answer your question.
The first, UK Travel Insurance: Market Dynamics and Opportunities was published by Verdict Financial in July 2015. This 32 page report shows the strong competition in the UK travel insurance market, differing from many other insurance markets that are dominated by fewer providers with wider customer bases than the rest. Because of the competition, the market is finely priced and rates are set to cover claims inflation. The hardening of the market will be limited by competition and the choice available for consumers. This report looks at the factors that influence the market, the channels that affect the distribution as well as the profit and loss ratios in the market. The market peaked in 2010 and since then, insurers have only made small sums of money. Consumers tend to purchase insurance for a single trip or to cover several planned trips. The report features a comparative study of single trip and annual policies and also looks at how the market depends on the prosperity of the economy.
The second report, Travel Insurance and Assistance in the UK was published by Finaccord in May 2015. This 39 page study looks at the current situation and the likely future developments of the market. It analyzes data from 2010-2014 and also provides forecast to 2018. It segments the data by destination (EU countries, non-EU European countries, North America and the Rest of the World) and by journey type (holiday or business trip). It gives data for the market size, looking at premiums and policies, as well as segmentation between single trip and annual cover.
We hope this information has been helpful to you. There is a lot of useful information about the tourism industry in ReportLinker’s portal. If you have any questions or further needs, please feel free to contact us.