What Consumers Want: General Insurance, Life Insurance and Pensions in the UK

Introduction

This slide deck provides direct answers to the important questions regarding consumers behaviour towards Financial Services products. This series of reports provides country specific data, set against a global backdrop, to ensure the reader knows What Consumers Want in their area of Financial Services.

Scope

• The brief highlights the key findings of Datamonitor's FS Consumer Insight survey for general insurance, life insurance & pensions markets in the UK.
• Answers to key questions are provided such as product penetration, channel of choice, reasons for product & provider choice and important attributes.
• The slide deck also presents data across income and age groups to strengthen and deepen insight, ensuring analysis is relevant to every sector.

Highlights

In the UK 42% of consumers applied for their car insurance online direct from the company, compared to a global average of 25%.

32% of consumers in the UK have a life insurance policy in comparison to 44% globally.

Reasons to Purchase

• This slide pack provides data essential for FS providers wishing to better understand the needs and demands of their customers.
• Uncover white space opportunities across geographies, product sectors, channels and technologies
• Better understand the “size of the prize” dictated by consumer choice and verify or challenge internal assumptions via an independent source

Table Of Contents

What does this data provide?
Total General Insurance market: analysis
Total General Insurance product holding
Total General Insurance product holding: By income
Total General Insurance product holding: By age
General Insurance sales channel analysis – by opening
Channel of opening: Home Insurance - total market
Channel of opening: Home Insurance – by income
Channel of opening: Home Insurance – by age
Channel of opening: Contents Insurance - total market
Channel of opening: Contents Insurance – by income
Channel of opening: Contents Insurance – by age
Channel of opening: Car Insurance - total market
Channel of opening: Car Insurance – by income
Channel of opening: Car Insurance – by age
Channel of opening: Health Insurance - total market
Channel of opening: Health Insurance – by income
Channel of opening: Health Insurance – by age
Channel of opening: Pet Insurance - total market
Channel of opening: Pet Insurance – by income
Channel of opening: Pet Insurance – by age
Channel of opening: Travel Insurance - total market
Channel of opening: Travel Insurance – by income
Channel of opening: Travel Insurance – by age
General Insurance - Motivation for account choice analysis
Motivation: Home Insurance - total market
Motivation: Home Insurance – by income
Motivation: Home Insurance – by age
Motivation: Contents Insurance - total market
Motivation: Contents Insurance – by income
Motivation: Contents Insurance – by age
Motivation: Car Insurance - total market
Motivation: Car Insurance – by income
Motivation: Car Insurance – by age
Motivation: Health Insurance - total market
Motivation: Health Insurance – by income
Motivation: Health Insurance – by age
Motivation: Pet Insurance - total market
Motivation: Pet Insurance – by income
Motivation: Pet Insurance – by age
Motivation: Travel Insurance - total market
Motivation: Travel Insurance – by income
Motivation: Travel Insurance – by age
Important attributes for a General Insurance provider analysis
Important attributes for a General Insurance provider
Important attributes for a General Insurance provider – by income
Important attributes for a General Insurance provider - by age

List of Table

Total Life Insurance market: analysis
Total Life Insurance product holding
Total Life Insurance product holding: By income
Total Life Insurance product holding: By age
Life Insurance sales channel analysis
Channel of opening: Term Life Insurance - total market
Channel of opening: Term Life Insurance – by income
Channel of opening: Term Life Insurance – by age
Channel of opening: Critical Illness Insurance - total market
Channel of opening: Critical Illness Insurance – by income
Channel of opening: Critical Illness Insurance – by age
Channel of opening: Income Protection - total market
Channel of opening: Income Protection – by income
Channel of opening: Income Protection – by age
Channel of opening: Whole of Life Assurance - total market
Channel of opening: Whole of Life Assurance – by income
Channel of opening: Whole of Life Assurance – by age
Channel of opening: Long Term Care Insurance - total market
Channel of opening: Long Term Care Insurance – by income
Channel of opening: Long Term Care Insurance – by age
Channel of opening: Other Insurance - total market
Channel of opening: Other Insurance – by income
Channel of opening: Other Insurance – by age
Life Insurance - Motivation for product choice analysis
Motivation: Term Life Insurance - total market
Motivation: Term Life Insurance – by income
Motivation: Term Life Insurance – by age
Motivation: Critical Illness Insurance - total market
Motivation: Critical Illness Insurance – by income
Motivation: Critical Illness Insurance – by age
Motivation: Income Protection Insurance - total market
Motivation: Income Protection Insurance – by income
Motivation: Income Protection Insurance – by age
Motivation: Whole of Life Assurance - total market
Motivation: Whole of Life Assurance – by income
Motivation: Whole of Life Assurance – by age
Motivation: Long Term Care Insurance - total market
Motivation: Long Term Care Insurance – by income
Motivation: Long Term Care Insurance – by age
Motivation: Other Insurance - total market
Motivation: Other Insurance – by age
Motivation: Other Insurance – by income

List of Figures

Important attributes for a Life Insurance provider analysis
Important attributes for a Life Insurance provider
Important attributes for a Life Insurance provider – by income
Important attributes for a Life Insurance provider – by age
Total Pensions market: analysis
Total Pensions product holding
Total Pensions product holding – by age
Total Pensions product holding: By income
Pensions - Product holding - by income
Pensions - Product holding - by age
Pension sales channel analysis
Channel of opening: Pensions - total market
Channel of opening: Pensions – by income
Channel of opening: Pensions – by age
Pensions: Value analysis
Pension - Value - total market
Pension - Value– by income
Pension - Value – by age
Pensions - Motivation for account choice analysis
Motivation for account choice: Pensions – total market
Motivation for account choice: Pensions – by income
Motivation for account choice: Pensions – by age
Important attributes for a Pension provider analysis
Important attributes for a Pension provider – total market
Important attributes for a Pension provider – by income
Important attributes for a Pension provider – by age
Appendix