Market Research Report
UK Protection Insurance 2018: Critical Illness & Income Protection
|Published by||GlobalData||Product code||379793|
|Published||Content info||46 Pages
Delivery time: 1-2 business days
|UK Protection Insurance 2018: Critical Illness & Income Protection|
|Published: September 23, 2018||Content info: 46 Pages||
"UK Protection Insurance 2018: Critical Illness & Income Protection", report discusses the IP and CII market, looking at market size with regards to changes in contracts and premiums, in addition to claims. It highlights the barriers to consumer engagement, how products are distributed, and the main players and their propositions. It provides five-year forecasts of market size in premiums to 2022, and discusses how the market is likely to change as healthcare technology is developed.
Both the income protection (IP) and critical illness insurance (CII) markets experienced strong growth in 2017. Combined, they increased their share of the total protection market for the fourth year in a row, accounting for 10% of premiums in 2017. This indicates growing demand for illness- and injury-oriented products. The IP and CII markets remain locked in a dynamic where products are sold as opposed to bought; as a result, the advisory channel has remained the main way in which IP and CII products are distributed. But consistent growth is occurring in the non-advisory channel (to a greater extent in the CII market), which suggests that over the coming years we may see a shift towards products being bought rather than sold.