1. Market Research
  2. > Financial Services
  3. > Insurance Market Trends
UK Insurance Profile: Tesco

UK Insurance Profile: Tesco

  • February 2016
  • 27 pages
  • ID: 3605997
In this report:
Secondary sources Insurance Times (2014) Ageas and Tesco Bank extend underwriting JV for seven years [accessed January 2016] Kantar World Panel (2016) Kantar World Panel [accessed January 2016] The Telegraph (2014) Clubcard built the Tesco of today, but it could be time to ditch it [accessed January 2016] Tesco (2015) Annual Report and Financial Statements 2015 [accessed January 2016]

Summary

Table of Contents

Search Inside

Brief

Tesco is a retailing giant and the UK's biggest supermarket brand. Having spread its wings into the financial services industry since the 1990s, Tesco Bank is now a well-established name for personal lines insurance customers, able to play off brand recognition, cross-selling capabilities, and a strong understanding of its customers thanks to its Tesco Clubcard initiative. However, Tesco is facing challenging times in its core retail business, which is feeding into a number of threats to its insurance business. On the other hand, a strong brand footprint in some of the personal lines insurance markets - and an above-average series of net promoter scores for these - suggests there are future opportunities.

Main highlights

- Tesco Bank is, by comparable brand position, strongest in the pet insurance space. However, it faces continued market share loss to the dominant player Petplan, which continues to grow its footprint.

- In 2014, Tesco Underwriting premiums accounted for 35.0 percent of Ageas' car insurance GWP and 16.0 percent of its home insurance GWP.

- Tesco Underwriting's book is dominated by unhealthy car insurance business, leaving it behind the best personal lines players on COR performance. To improve, it must build on its "loss leader" with an increasing home insurance book.

Abstract

Tesco is a retailing giant in the United Kingdom (UK) and, through Tesco Bank, affords its customers access to financial services including insurance. Within the context of Tesco's brand power, and a view of Tesco Bank and Tesco Underwriting, this profile looks at the strengths, weaknesses, alternatives, and business risks found in its insurance business.

Great reasons to purchase

- Gather insight into what type of customer Tesco's brand is most attractive to, and where it is performing strongest by product and purchasing method.

- Identify the comparable strengths and weaknesses of Tesco's insurance business and the opportunities or segment risks emerging as a result.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 60 Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.
Nicolas helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers
Life Insurance Global Industry Almanac 2017

Life Insurance Global Industry Almanac 2017 Company Report

  • $ 2995
  • Industry report
  • December 2017
  • by MarketLine

Life Insurance Global Industry Almanac 2017SummaryGlobal Life Insurance industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value 2012-16, ...

Life Insurance Global Industry Guide 2017

Life Insurance Global Industry Guide 2017 Company Report

  • $ 1495
  • Industry report
  • December 2017
  • by MarketLine

Life Insurance Global Industry Guide 2017SummaryGlobal Life Insurance industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value 2012-16, ...

Insurance Top 5 Emerging Markets Industry Guide 2017

Insurance Top 5 Emerging Markets Industry Guide 2017 Company Report

  • $ 995
  • Industry report
  • December 2017
  • by MarketLine

Insurance Top 5 Emerging Markets Industry Guide 2017SummaryThe Emerging 5 Insurance industry profile provides top-line qualitative and quantitative summary information including: market size (value 2012-16, ...


Download Unlimited Documents from Trusted Public Sources

Insurance Industry in the US

  • January 2018
    2 pages
  • Insurance  

    Crop Insurance  

  • United States  

View report >

Insurance Industry in the US

  • January 2018
    2 pages
  • Insurance  

    Crop Insurance  

  • United States  

View report >

Pension Industry

  • January 2018
    4 pages
  • Pension  

View report >

Pension Industry 2 days ago


Related Market Segments :

Insurance

General Insurance

Home Insurance

ref:plp2016

Reportlinker.com © Copyright 2018. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.