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Letest Study Reports:-Critical illness cover uk - june 2013 BY MarketResearchReports.biz

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Insurers need to address issues of trust in the critical illness market, but perhaps more importantly they need to convince people of the value of the product. At the moment far too many see critical …

Insurers need to address issues of trust in the critical illness market, but perhaps more importantly they need to convince people of the value of the product. At the moment far too many see critical illness as a nice-to-have product.To Read The Complete Report Kindly Visit: http://www.marketresearchreports.biz/analysis/169847
For All Latest Reports Kindly visit: http://www.marketresearchreports.biz

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  • 1. Critical Illness Cover - UK - June 2013Insurers need to address issues of trust in the critical illness market, but perhaps more importantly they needto convince people of the value of the product. At the moment far too many see critical illness as anice-to-have product. This is despite dwindling state support and statistics that suggest people areunderestimating the chances of suffering from a critical illness.table Of Contentintroductionabbreviationsdefinitionsexecutive Summarythe Marketvalue Of Critical Illness Premiums Expected To Growfigure 1: Forecast Of Total New Individual Critical Illness Premiums, At Current Prices, 2007-17the Invaluable Role Of The Intermediary In Ci Distributionmarket Factorsstandardisation In Claims Reporting Could Help To Increase Consumer Confidenceincome Remains Squeezed Which Is Bad News For Critical Illness Cover Providersfigure 2: Percentage Change In Rpi And Average Weekly Earnings (regular Pay Only), January 2008-march2013cancer Is The Main Reason For A Critical Illness Claimencouraging Signs In The Mortgage Market Should Boost Ci Salesaverage Ci Sum Insured Rises With Average Ftb Advancewelfare Reforms Will Pique Interest In Protection Productsimpact Of The Rdr Not Yet Clearimpact Of Gender Equalisation Could Result In Premium Increasesconsumer Insurance Act Aims To Build Consumer Confidencecompanies, Products And Innovationstop Five Providers Accounted For 78% Of The Market In 2012figure 3: Market Share Of The Top Five Providers Of New Individual Critical Illness Cover, Based OnVolume Sales, 2012bright Grey Announced £200 Million Critical Illness Cover Giveawayskandia Re-enters Critical Illness Market With An Rdr World-ready Productl&g Extends Children’s Ci Coverlv= Extends Its Critical Illness Coverthe Consumersome 11% Of People Have Critical Illness Cover In Placefigure 4: Protection Product Ownership, March 2013financial Peace Of Mind At A Difficult Time Drives Product OwnershipCritical Illness Cover - UK - June 2013
  • 2. figure 5: Reasons For Purchasing, March 2013consumers Want To Do Their Own Research, But Still Value Independent Advicefigure 6: Purchasing Considerations, March 2013costly Premiums Are The Main Barrier To Critical Illness Ownershipfigure 7: Reasons For Not Owning Critical Illness Cover, March 2013financial Incentives Would Motivate Consumers To Purchase Ci Coverfigure 8: Factors Which Would Encourage Purchase, March 2013critical Illness Cover Suffers From Negative Consumer Attitudesfigure 9: Views About Critical Illness Cover, March 2013what We Thinkissues In The Marketwhat Can The Protection Industry Learn From Other Financial Markets?how Can Insurers Gain Consumer Trust?do People Understand The Value Of Ci Cover?to What Extent Do People Expect To Rely On State Support?how Will Expanding The Rdr To Include Protection Products Impact The Ci Market?trend Applicationinsurers Could Help Consumers To Improve Their Healthconsumers Aren’t Opposed To An Open Dialogue About Sensitive Subjectsthe Human Touch Is Needed In The Protection Industrymarket Driverskey Pointsclaims Data Tell A Positive Story But Can They Be Trusted?squeeze On Income Sees Non-essential Products Fall Down Priority Listfigure 10: Percentage Change In Rpi And Average Weekly Earnings (regular Pay Only), January 2008-march2013cancer Is The Main Reason For A Critical Illness Claiman Improvement In The Mortgage Market Is Good News For Ci Coverfigure 11: Number Of Loans For House Purchase, By Type Of Borrower, 2008-12average Sums Insured Tied To First-time Buyer Advancesfigure 12: Average Sum Insured For New Critical Illness Cover Policies Versus Average First-time BuyerAdvance, 2005-12welfare Reforms Set To Shake Up The Protection Industrystill Early Days To Understand The Impact Of The Rdrimpact Of Gender Equalisation Could Result In Premium Increasesconsumer Insurance Act Aims To Build Consumer Confidencecompetitor Productskey Pointsother Protection Products Dominate The IndustryCritical Illness Cover - UK - June 2013
  • 3. figure 13: Number Of Individual Protection Policies In Force, By Type, 2011mortgage And Protection Term Sales Include Significant Ci Componentfigure 14: Critical Illness Rider Benefits As A Proportion Of New Individual Term Assurance Business,2008-12swot Analysisfigure 15: Swot Analysis For The Critical Illness Market, 2013who’s Innovating?key Pointsbright Grey Announced £200 Million Critical Illness Cover Giveawayskandia Re-enters Critical Illness Market With An Rdr World-ready Productl&g Extends Children’s Ci Coverlv= Extends Its Critical Illness Covermarket Size And Forecastkey Pointsgrowth In Critical Illness Cover Sales Slowsfigure 16: New Individual Critical Illness Sales And Average Annual Premium, 2008-12most Critical Illness Cover Policies Are Sold As Rider Benefitsfigure 17: New Individual Critical Illness Sales – Rider Benefit Versus Standalone Policies, 2008-12overall Drop In Volume And Value Of In-force Standalone Ci Businessfigure 18: In-force Standalone Critical Illness Policies, By Volume And Value, 2007-11group Critical Illness Cover Is A Comparatively Small Marketfigure 19: Volume And Value Of New Group Critical Illness Sales, 2008-12improving Economy Will Support Premium Growthfigure 20: Forecast Of Total New Individual Critical Illness Premiums, At Current Prices, 2007-17figure 21: Forecast Of Total New Individual Critical Illness Premiums, At Current Prices, 2007-17more Affordable Policies Will Boost Salesfigure 22: Forecast Of Total New Individual Critical Illness Policies, At Current Prices, 2007-17figure 23: Forecast Of Total New Individual Critical Illness Policies, At Current Prices, 2007-17forecast Methodologymarket Sharekey Pointstop Five Providers Accounted For 78% Of The Market In 2012figure 24: Market Share Of The Top Five Providers Of New Individual Critical Illness Cover, Based OnVolume Sales, 2010-12legal & General Is The Largest Critical Illness Cover Providercompanies And ProductsavivaCritical Illness Cover - UK - June 2013
  • 4. legal & Generalfigure 25: Key Financial Data For Legal & General (housing And Protection Business Segment), 2011 And2012royal London Groupscottish Widowsfriends Lifefigure 26: Key Financial Data For Friends Life, 2011 And 2012lv=brand Communication And Promotionkey Pointscritical Illness Advertising Receives A Big Cash Injection…figure 27: Total Advertising Expenditure On Protection Products, By Product Category, 2011-13…but Is Mainly Directed Towards Cancer Cover Productsnot Much Is Spent On Critical Illness Cover Advertisingfigure 28: Top Four Advertisers Of Critical Illness Products, 2011-13channels To Marketkey Pointsintermediaries Operating In The Critical Illness Cover Marketifas See Their Share Of Critical Illness Rider Benefit Distribution Increase In 2012figure 29: Distribution Of New Individual Critical Illness Rider Benefit Premiums, By Channel, 2009-12standalone Critical Illness Cover Distribution Is Also Dominated By Ifasfigure 30: Distribution Of New Individual Standalone Ci Premiums, By Channel, 2009-12protection Product Ownershipkey Pointsjust Over One In Ten Have Critical Illness Cover…figure 31: Protection Product Ownership, March 2013…but Only A Third Of People Aren’t Concerned About Their Healthfigure 32: Concerns Around Inability To Work Due To Health Reasons, March 2013critical Illness Cover Ownership Higher With Big Earnersfigure 33: Protection Product Ownership, By Gross Annual Household Income, March 2013mortgage Holders Are More Likely To Have Critical Illness Coverfigure 34: Protection Product Ownership, By Housing Situation, March 2013critical Illness Cover Purchase Triggerskey Pointsfinancial Peace Of Mind Is The Main Driver For Critical Illness Purchasefigure 35: Reasons For Purchasing, March 2013critical Illness Cover Purchasing BehaviourCritical Illness Cover - UK - June 2013
  • 5. key Pointsconsumers Want Comparison Sites, Research And Advice When Buying Cifigure 36: Purchasing Considerations, March 2013barriers To Critical Illness Cover Ownershipkey Pointsexpensive And Untrustworthy – The Consumer View Of Critical Illness Coverfigure 37: Reasons For Not Owning Critical Illness Cover, March 201345-54-year-olds Are Most Distrustful Of Insurersfigure 38: Most Popular Reasons For Not Owning Critical Illness Cover, By Age, March 2013distrustful Consumers Look For The Cheapest Dealfigure 39: Purchasing Conditions, By Most Popular Reasons For Not Owning Critical Illness Cover, March2013increasing The Appeal Of Critical Illness Coverkey Pointscash Incentives, Not Claims Rates Will Get People Interested In Critical Illnessfigure 40: Factors Which Would Encourage Purchase, March 2013reassurance About The Level Of Protection Could Be Bolstered By Independent Researchfigure 41: Purchasing Conditions, By Most Popular Factors Which Would Encourage Purchase, March 2013distrustful Consumers Want To Understand More About Claims Ratesfigure 42: Factors Which Would Encourage Purchase, By Most Popular Reasons For Not Owning CriticalIllness Cover, March 2013attitudes Towards Critical Illness Coverkey Pointsnegative Consumer Perceptions Of Critical Illness Are Damagingfigure 43: Views About Critical Illness Cover, March 2013understanding Negative Views Is The Way To Overcome Themfigure 44: Views About Critical Illness Cover, By Most Popular Reasons For Not Owning Critical IllnessCover, March 2013ci Cover Expense Can Be Mitigated By Offering Financial Incentivesfigure 45: Views About Critical Illness Cover, By Most Popular Factors Which Would Encourage Purchase,March 2013appendix – Market Sizefigure 46: Forecast Of Total New Individual Critical Illness Premiums, At Current Prices, 2012-17figure 47: Forecast Of Total New Individual Critical Illness Policies, At Current Prices, 2012-17appendix – Protection Product Ownershipfigure 48: Most Popular Protection Product Ownership, By Demographics, March 2013figure 49: Next Most Popular Protection Product Ownership, By Demographics, March 2013Critical Illness Cover - UK - June 2013
  • 6. figure 50: Level Of Savings And Investments, By Demographics, March 2013figure 51: Next Most Popular Savings Levels, By Demographics, March 2013appendix – Critical Illness Cover Purchasing Behaviourfigure 52: Purchasing Considerations, By Demographics, March 2013appendix – Barriers To Critical Illness Cover Ownershipfigure 53: Most Popular Reasons For Not Owning Critical Illness Cover, By Demographics, March 2013figure 54: Next Most Popular Reasons For Not Owning Critical Illness Cover, By Demographics, March 2013appendix – Increasing The Appeal Of Critical Illness Coverfigure 55: Most Popular Factors Which Would Encourage Purchase, By Demographics, March 2013figure 56: Next Most Popular Factors Which Would Encourage Purchase, By Demographics, March 2013appendix – Attitudes Towards Critical Illness Coverfigure 57: Views About Critical Illness Cover, By Demographics, March 2013Market Research Report(http://www.marketresearchreports.biz/) Marketresearchreports.biz is the mostcomprehensive collection of market research reports. Marketresearchreports.biz services are especiallydesigned to save time and money of our clients. We are a one stop solution for all your research needs, ourmain offerings are syndicated research reports, custom research, subscription access and consulting services.We serve all sizes and types of companies spanning across various industries.Contact:M/s Sheela,90 State Street,Suite 700,Albany NY - 12207United StatesTel: +1-518-618-1030USA - Canada Toll Free 866-997-4948Email: sales@researchmoz.comWebsite: www.marketresearchreports.bizCritical Illness Cover - UK - June 2013

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