1. Market Research
  2. > Financial Services
  3. > Insurance Market Trends
United Kingdom (UK) Income Protection Insurance Market to 2025 - Analysing Market Drivers and Forecast, Product Launches and Innovation, and Competitive Landscape

United Kingdom (UK) Income Protection Insurance Market to 2025 - Analysing Market Drivers and Forecast, Product Launches and Innovation, and Competitive Landscape

  • June 2021
  • 43 pages
  • ID: 6151161
  • Format: PDF
  • GlobalData

Summary

Table of Contents

Search Inside

United Kingdom (UK) Income Protection Insurance Market to 2025 - Analysing Market Drivers and Forecast, Product Launches and Innovation, and Competitive Landscape

Summary
The report provides an in-depth assessment of the income protection insurance market, looking at current and historical market sizes with regards to changes in contracts and premiums.It examines how income protection products are distributed and highlights key changes in the competitive landscape, as well as the propositions of the key market players.

The value of claims is also assessed. The report provides five-year forecasts of contracts and premiums to 2025 and discusses how the market, distribution, and products offered are likely to change in the future, as well as the reasons for these changes.

The income protection market contracted in 2020 - new business premiums decreased by 10.1% and the number of contracts fell by 1.7%. Despite the contraction in 2020, new business premiums and contracts are expected to return to growth by 2021, experiencing 10.0% and 10.8% increases. IP market growth is expected to be driven by the high demand for IP products in light of the pandemic’s continued prominence and consumers’ increasing awareness of their financial vulnerability.

Scope
- There were 171,457 IP contracts sold in 2020, and new business premiums totalled £59.3m, representing contractions of 1.7% and 10.1%, respectively, since 2019.
- Aviva, the leading provider of IP, experienced a 6.2 percentage point contraction in market share in 2019, now accounting for 26.1% of the market. However, the top three leading providers have remained unchanged.
- Cancer, musculoskeletal conditions, and mental illness accounted for 63.6% of IP claim costs in 2020. Due to an increase in remote working, isolation, and the suspension of NHS health screenings, payouts for these conditions are expected to rise.

Reasons to Buy
- Examine the size of the income protection market.
- Discover who the leading providers of income protection are.
- Learn about the short-term and longer-term implications of COVID-19 on the market.
- Understand the influence of other factors on growth.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ 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.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Ahmad 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 [email protected] 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 - [email protected] 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

Colombia Life Insurance - Key Trends and Opportunities to 2025

  • $ 3999
  • August 2021
  • 78 pages

Colombia Life Insurance - Key Trends and Opportunities to 2025 Summary ’ Colombia Life Insurance - Key Trends and Opportunities to 2025’ report provides in-depth market analysis, information and ...

  • Colombia
  • Insurance
  • Life Insurance
  • Industry analysis
  • Gross Written Premium
  • Paid Claims

ref:plp2021

Reportlinker.com © Copyright 2021. All rights reserved.

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

Make sure you don’t miss any news and follow us on