Abstract
Introduction
The UK General Insurance Competitor Tracker Q2 2009 reviews the major
developments among the leading competitors in the UK general insurance market
including Aviva, RBS Insurance, AXA, RSA and Zurich. It includes information
on a range of issues including new product launches, new affinity partnerships
and other trading relationships and merger and acquisition activity.
Scope of this research
- Information on new product developments, acquisition activity, new
corporate partnerships and other new trading relationships.
- Insight on the following competitors: Allianz, AXA, Aviva, Fortis,
Groupama, The Lloyds Banking Group, RBS Insurance, RSA, Towergate and Zurich.
Research and analysis highlights
In June 2009, AXA announced that it had secured a new partnership with
low-cost airline Ryanair. The airline currently has 67 million customers.
Under the deal, AXA will provide travel insurance to Ryanair customers in the
form of single trip, multi trip and annual cover.
Fortis Insurance and the supermarket giant Tesco have signed an agreement
pursuant to which Fortis will take over as Tesco' s home and motor insurance
underwriter. The account is one of the largest in the market and should
significantly increase Fortis' market share.
Groupama is using cognitive interviewing techniques to improve its detection
of motor claims fraud. The insurer stated that a new team had undergone
rigorous and comprehensive training to enable the use of this highly
specialized technique.
Key reasons to purchase this research
- Keep up to date with the new trading relationships that your competitors
have entered into, including deals with affinity partners.
- Understand the new products which your competitors are bringing to market,
the main features of these products and the intended target market.
- Keep abreast of the insurance company or broker acquisitions that your
competitors are making.
Table of Contents
DATAMONITOR VIEW
ANALYSIS
- Overview
- Allianz secured a new SME broker partnership and reported growth in its UK
business
- Allianz grew its GWP by 2.7% in the first quarter of 2009
- Allianz secured a three-year SME partnership with broker R A Cowen &
Partners
- Aviva launched Facility 110 to allow members to access the Lloyd' s market
- Aviva launched a new replacement broker website and trading platform
- Aviva launched Facility 110 with broker Miles Smith
- AXA sold SBJ Global Risks and secured a travel insurance deal with Ryanair
- AXA entered into a new partnership with Ryanair
- Swiftcover acquired specialist personal motor claims provider
- AXA sold its global risks arm, SBJ Global Risks
- Underwriting agency David Oliver signed a three-year travel partnership
with AXA
- Fortis agreed to a deal with Tesco and secured a five-year deal with a new
MGA
- Fortis will underwrite home and motor insurance for supermarket giant
Tesco
- Fortis secured a five-year deal with a new MGA
- Fortis added new products to Towergate subsidiary PowerPlace
- Groupama introduced cognitive interviewing to curb fraud
- Groupama has deployed cognitive interviewing techniques to tackle fraud
- Groupama restructured its personal and commercial lines divisions
- Liverpool Victoria is to become the sole commercial and residential
property underwriter for InsureIT
- Liverpool Victoria launched products on InsureIT
- LV= launched a new commercial package trading website for brokers
- Lloyds Banking Group' s brand esure is to combat fraud through the use of
cognitive interviewing
- esure deployed cognitive interviewing techniques to combat motor
insurance fraud
- RBS announced a fall in operating profits for its insurance division
- RBSI reported a 31% decrease in operating profits in Q1 2009
- RSA' s UK net written premium declined in Q1 2009
- RSA reported a contraction in both its UK commercial and personal lines
in Q1 2009
- Zurich witnessed a fall in its global profits in Q1 2009 and launched a
new advertisement campaign to help grow its direct business
- Zurich launched a new advertisement campaign to help grow its direct
business
- Zurich witnessed its global general insurance profits fall by 25% in Q1
2009
- Equity gained an affinity partnership with Santander, while Swinton
announced plans to double the size of its commercial business by 2012
- Equity signed an affinity deal with Santander
- Swinton announced plans to grow its commercial business arm
- JLT acquired Ingham Underwriting
- Towergate launched Towergate Coverex
APPENDIX
- Ask the analyst
- Datamonitor consulting
- Disclaimer
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