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UK Commercial Insurance Market Analysis- Industry Size, Share, Research Report, Insights, Covid-19 Impact, Statistics, Trends, Growth and Forecast 2022-2030

Published Date: August, 2022
No of Pages: 165
Delivery Format: PDF + Excel

$2,950.00

Description

UK Commercial Insurance Market premiums in addition to claims, product consumption, and exposure. COVID-19 has influenced and will continue to alter the way consumers behave. Reinsurance rates are predicted to rise because of the high level of competition and a deficiency of disposable income in consumers; the burden of these increases may be passed on to commercial customers of insurance. The changes will lead to a rise in demand for certain kinds of insurance, a shift in how companies purchase insurance, and a challenge for brokers who have relied upon face-to-face contacts to promote policies.

The impact of COVID-19’s legislation will also be spread over a longer time. In the short run, commercial insurance landscape will alter in direct response to the economic crisis, lockdowns in countries and a decrease in social interactions. The changes and developments that will occur in the long and medium term will result from permanent changes in the behavior of businesses and consumers.

This report examines COVID-19’s impact on the UK commercial insurance industry. It examines the immediate and long-term consequences of the lockdown imposed by the government on the insurance industry as well as the behavior of businesses and consumers. It offers estimated gross written premiums for three business lines of Commercial Insurance Market. It also examines the issues that insurance brokers face due to COVID-19.

UK Commercial Insurance Market  Report Scope and Segmentation
ATTRIBUTESDETAILS
ESTIMATED YEAR2022
BASE YEAR2021
FORECAST YEAR2030
HISTORICAL YEAR2017-2021
UNITValue (USD Million/Billion)
BY REGIONNorth America, Europe, Asia Pacific, Latin America, Middle East and Africa

A sample of the companies that are mentioned in this  report include:

  • Allstate
  • American Family Insurance
  • Prudential plc
  • Hiscox
  • AXA
  • Direct Line
  • Allianz
  • Ageas Group
  • Simply Business
  • Legal & General
  • Aviva
  • By Miles
  • Zurich Insurance Company Ltd
  • RSA Insurance Group
  • Others

Commercial Insurance Market Key Segments

By Type

  • Commercial Motor Insurance
  • Commercial Property Insurance
  • Liability Insurance
  • Marine Insurance
  • Others

By Distribution Channel

  • Agents & Brokers
  • Direct Response
  • Others

By Enterprise Size

  • Large Enterprises
  • Medium-sized Enterprises
  • Small-sized Enterprises

By Industry Vertical

  • Manufacturing
  • Construction
  • IT & Telecom
  • Healthcare
  • Energy & Utilities
  • Transportation & Logistics
  • Others

Regional Analysis

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • Italy
    • France
    • UK
    • Spain
    • Poland
    • Russia
    • The Netherlands
    • Norway
    • Czech Republic
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Indonesia
    • Malaysia
    • Thailand
    • Singapore
    • Australia & New Zealand
    • Rest of Asia Pacific
  • South America
    • Brazil
    • Argentina
    • Colombia
    • Rest of South America
  • The Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Northern Africa
    • Rest of MEA

Scope

  • Lockdown measures can have immediate and long-lasting impacts on insurance companies in the UK commercial insurance industry.
  • Working from home for extended periods opens businesses up to cyber-attacks and will increase the demand for cyber insurance.
  • The lockdown will dramatically decrease the number of claims on the market for motor insurance.
  • Brokers ‘ resistance to investing in digital technology will hinder their ability to communicate with their customers during the outbreak.

Reasons to Buy

  • Determine the main factors that impact growth in all aspects of the UK, the commercial market for insurance.
  • Learn how premiums written in gross amounts across the board will perform post-COVID-19.
  • Consider how the pandemic might influence the ways that people approach commercial insurance.

1. Executive Summary

1.1 Market overview

1.2 Key findings

1.3 Critical success factors

2. Market Dynamics

2.1 The UK commercial property market grew significantly in 2020

2.2 2020 was a bruising year for commercial property claims

2.3 2020 was damaging for the construction sector

2.4 Investment in London fell in 2020 but looks set to return to growth in the future

2.5 Regulations and tax incentives have affected individuals’ investment in commercial property

2.6 Growing demand for housing will lead to more commercial-to-residential conversions

3. Competitor Dynamics

3.1 Aviva is still the market leader by some distance

4. The Market Going Forward

4.1 Commercial property insurance will grow to GBP8.85 billion in 2025

4.2 Brexit and COVID-19 will make for a harder recovery for the construction industry than first thought

4.3 Underinsurance problems are exacerbated by global supply-side issues

4.4 Grenfell and ESG initiatives will create challenges and opportunities for insurers

4.5 Technology is becoming more valuable to commercial property insurers

4.6 The changing landscape of office working represents an opportunity for insurers

5. Appendix

5.1 Abbreviations and acronyms

5.2 Methodology

5.3 Secondary sources

5.4 Further reading

ATTRIBUTESDETAILS
ESTIMATED YEAR2022
BASE YEAR2021
FORECAST YEAR2030
HISTORICAL YEAR2017-2021
UNITValue (USD Million/Billion)

A sample of the companies that are mentioned in this  report include:

  • Allstate
  • American Family Insurance
  • Prudential plc
  • Hiscox
  • AXA
  • Direct Line
  • Allianz
  • Ageas Group
  • Simply Business
  • Legal & General
  • Aviva
  • By Miles
  • Zurich Insurance Company Ltd
  • RSA Insurance Group
  • Others

Commercial Insurance Market Key Segments

By Type

  • Commercial Motor Insurance
  • Commercial Property Insurance
  • Liability Insurance
  • Marine Insurance
  • Others

By Distribution Channel

  • Agents & Brokers
  • Direct Response
  • Others

By Enterprise Size

  • Large Enterprises
  • Medium-sized Enterprises
  • Small-sized Enterprises

By Industry Vertical

  • Manufacturing
  • Construction
  • IT & Telecom
  • Healthcare
  • Energy & Utilities
  • Transportation & Logistics
  • Others
  • Allstate
  • American Family Insurance
  • Prudential plc
  • Hiscox
  • AXA
  • Direct Line
  • Allianz
  • Ageas Group
  • Simply Business
  • Legal & General
  • Aviva
  • By Miles
  • Zurich Insurance Company Ltd
  • RSA Insurance Group
  • Others

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Covid-19 Impact Analysis

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