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市場調查報告書

英國業務汽車保險市場:主要趨勢與市場機會

Commercial Motor Insurance in the UK, Key Trends and Opportunities to 2018

出版商 Timetric 商品編碼 298991
出版日期 內容資訊 英文 70 Pages
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英國業務汽車保險市場:主要趨勢與市場機會 Commercial Motor Insurance in the UK, Key Trends and Opportunities to 2018
出版日期: 2014年04月04日 內容資訊: 英文 70 Pages
簡介

英國業務汽車保險市場自2008年持續成長。總計保險金額2012年達到34億英鎊(比前年7.2%)、2008∼2012年年平均成長率(CAGR)3.4%。不過維持市場成長的背景還有為了確保收益性而上漲保費的問題,今後可能也會為確保收益而繼續這種困難的情況。還有對於詐取保險金的對策、法規制度修改的對應、活用汽車電子等業界面對的問題。預計今後(2014∼2018年)平均市場成長率為6.23%、2018年總計收入保費達45億2000萬英鎊。

本報告針對英國業務汽車保險市場進行分析,提供製度特徵市場構造、促進因素與課題、市場規模動向(過去□未來5年)、通路動向、產業競爭力、近年業界動向(資本交易□事業合作)、政府相關規範□政策、主要企業檔案調查,目錄介紹如下。

第1章 摘要整理

第2章 介紹

  • 本報告概要
  • 定義
  • 分析方法

第3章 市場分析

  • 市場規模
    • 汽車合約市場
    • 汽車合約以外業務汽車保險市場
    • 其他汽車保險市場
    • 保險普及率與密度
  • 保費請求額度
    • 過去實績值
    • 今後預測值
  • 市場促進因素
  • 市場預測
  • 流通管道
    • 流通管道預測
  • 二次保險

第4章 競爭環境

  • 收益性
    • 投資收益率
    • 收益性預測
  • 業績頂尖企業
  • 商品開發
  • 業務汽車保險市場SWOT分析

第5章 五力分析

  • 供應商交涉力:低
  • 買家交涉力:中
  • 進入障礙:中
  • 同業競爭:中∼高
  • 可代替產品威脅:低

第6章 資本交易動向(全6項)

第7章 最新業界動向(全5項)

第8章 規範與服從

  • 近年法規修正
    • 男女保險費率差別禁止EU指令
    • LASPO(罪犯的法律援助、判刑及罰則法案)法(2012年)
  • 未來法歸修正預測
    • 「My Licence」駕駛用資料庫
    • 償還能力II

第9章 宏觀經濟影響

  • 實質GDP成長率
  • 事業投資
  • 業務汽車登錄情況
  • 通貨膨脹
  • 利率

第10章 企業檔案

  • Ageas (UK) Ltd
    • 主要資料
    • 主要商品
    • 主要競爭企業
    • 企業幹部
  • Allianz Insurance Plc
  • Aviva Plc
  • Axa UK Plc
  • Direct Line Insurance Group Plc
  • Liverpool Victoria Friendly Society Ltd
  • National Farmers Union Mutual Insurance Society
  • QBE Insurance (Europe) Ltd
  • Royal & Sun Alliance Insurance Plc
  • Zurich Insurance Plc

第11章 統計

  • 實績值資料(過去5年)
  • 預測值資料(今後5年)

第12章 附錄

圖表一覽

目錄
Product Code: FS0116MR

The report provides market analysis, information and insights into the UK commercial motor insurance insurance business, and offers:

  • A snapshot of the market's size and market segmentation
  • Comprehensive analysis of claims, drivers and market outlook
  • Analysis of distribution channels
  • Deals, news and regulatory developments

Summary

The UK commercial motor insurance category has recorded growth since 2008, despite the synchronous recessionary backdrop. Gross written premiums rose at an annual rate of 7.2% in 2012, to a total of GBP3.4 billion and a five-year high. During the review period (2008-2012), premiums posted a compound annual growth rate (CAGR) of 5.50%.

The recession resulted in faltering business confidence, lenders reducing the availability of credit, and a slump in capital spending - including investment in commercial vehicles. Faced with a reduction in the underlying demand for commercial motor insurance, rate rises in the category were largely due to insurers hiking rates to protect profits.

The total combined operating ratio for insurers operating in the category remained above 100% during the review period and stood at a five-year low of 106% in 2012, indicating long-standing profitability struggles. Premium increases enacted during the review period have not been able to offset rising claims payouts, an increase in operating expenses, and record-low interest rates limiting returns on investments. The category is not expected to return to profit until 2015.

Motor insurance claims rose sharply during the review period, reflecting a higher incidence of fraudulent claims related to staged accidents and the resulting payouts for personal injury and whiplash claims. The number of motor-related personal injury compensation cases registered with the government's Compensation Recovery Unit surged in the five years to 2012, in contrast to a 15% fall in road traffic accidents during the period.

The motor insurance industry has collectively prioritized a significant reduction in fraud, introducing measures which include the development of software and databases to improve core risk underwriting, as well as systems to detect false or inflated claims. In addition, the growing use of telematics in commercial vehicle policies and the implementation of the Legal Aid, Sentencing and Punishing of Offenders Act (LASPO) in April 2013 will also have a mitigating effect on commercial motor claims.

The strengthening UK economy has already begun to spur an increase in commercial vehicle registrations, and the Department of Transport forecasts that goods vehicles will be the fastest-growing category of road traffic to 2020. The revival in demand will support a CAGR of 6.23% for gross written premiums over the forecast period (2014-2018), up to a peak value of GBP4.52 billion in 2018. Insurers' overconfidence in the cost-saving effects of the LASPO bill will limit growth in 2014, before rates are adjusted upwards from 2015.

Scope

  • This report provides market analysis, information and insights into the UK commercial motor insurance business
  • It provides a global snapshot of market size
  • It analyses drivers and the outlook for the market
  • It provides information on distribution channels
  • It covers deals, news and regulatory developments

Reasons To Buy

  • Gain an understanding of the UK commercial motor insurance market size
  • Learn about the performance of market drivers and distribution channels
  • Understand the competitive landscape in terms of performance, profitability and product innovation
  • Find out more on key deals and recent developments in the market

Table of Contents

1. Executive Summary

2. Introduction

  • 2.1. What is this Report About?
  • 2.2. Definitions
  • 2.3. Methodology

3. Market Analysis

  • 3.1. Market Size
    • 3.1.1. Fleets
    • 3.1.2. Commercial vehicles (non-fleet)
    • 3.1.3. Other commercial motor
    • 3.1.4. Penetration and density
  • 3.2. Claims
    • 3.2.1. Claims review
    • 3.2.2. Claims outlook
  • 3.3. Market Drivers
  • 3.4. Market Outlook
  • 3.5. Distribution Channels
    • 3.5.1. Distribution outlook
  • 3.6. Reinsurance

4. Competitive Landscape

  • 4.1. Profitability
    • 4.1.1. Investment returns
    • 4.1.2. Profitability outlook
  • 4.2. Review - The Best Performers of 2012
  • 4.3. Product Innovation
  • 4.4. Commercial Motor Insurance - SWOT Analysis

5. Porter's Five Forces Analysis

  • 5.1. Bargaining Power of Suppliers: Low
  • 5.2. Bargaining Power of Buyers: Medium
  • 5.3. Barriers to Entry: Medium
  • 5.4. Intensity of Rivalry: Medium to High
  • 5.5. Threat of Substitution: Low

6. Deals

  • 6.1. Experian Extends Deal to Maintain Motor Insurance Database
  • 6.2. Direct Line Group Completes Sale of Telematics Business
  • 6.3. Axa Signs Broker Deal
  • 6.4. Broker Deal for Trades Commercial Motor Insurance
  • 6.5. Ageas Extends Vauxhall Partnership
  • 6.6. RSA Extends Motability Deal

7. News

  • 7.1. Commercial Insurance Ambitions for Allianz
  • 7.2. Direct Line Group Aims to Expand Van Insurance
  • 7.3. Ageas Partners With Keychoice
  • 7.4. Liverpool Victoria Expands Commercial Motor Underwriting Team
  • 7.5. Brokers Concerned Over Aviva's Fleet Book

8. Regulation and Compliance

  • 8.1. Recent Changes
    • 8.1.1. EU Gender Directive
    • 8.1.2. Legal Aid, Sentencing and Punishing of Offenders Act 2012 (LASPO)
  • 8.2. Upcoming Regulations
    • 8.2.1. My Licence driver database
    • 8.2.2. Solvency II

9. Macroeconomic Backdrop

  • 9.1. Real GDP Growth
  • 9.2. Business Investment
  • 9.3. Commercial Vehicle Registrations
  • 9.4. Inflation
  • 9.5. Interest Rates

10. Company Profiles

  • 10.1. Ageas (UK) Ltd - Company Overview
    • 10.1.1. Ageas (UK) Ltd - key facts
    • 10.1.2. Ageas (UK) Ltd - main products
    • 10.1.3. Ageas (UK) Ltd - main competitors
    • 10.1.4. Ageas (UK) Ltd - key employees
  • 10.2. Allianz Insurance Plc - Company Overview
    • 10.2.1. Allianz Insurance Plc - key facts
    • 10.2.2. Allianz Insurance Plc - main products
    • 10.2.3. Allianz Insurance Plc - main competitors
    • 10.2.4. Allianz Insurance Plc - key employees
  • 10.3. Aviva Plc - Company Overview
    • 10.3.1. Aviva Plc - key facts
    • 10.3.2. Aviva Plc - main products
    • 10.3.3. Aviva Plc - main competitors
    • 10.3.4. Aviva Plc - key employees
  • 10.4. Axa UK Plc - Company Overview
    • 10.4.1. Axa UK Plc - key facts
    • 10.4.2. Axa UK Plc - main products
    • 10.4.3. Axa UK Plc - main competitors
    • 10.4.4. Axa UK Plc - key employees
  • 10.5. Direct Line Insurance Group Plc - Company Overview
    • 10.5.1. Direct Line Insurance Group Plc - key facts
    • 10.5.2. Direct Line Insurance Group Plc - main products
    • 10.5.3. Direct Line Insurance Group Plc - main competitors
    • 10.5.4. Direct Line Insurance Group Plc - key employees
  • 10.6. Liverpool Victoria Friendly Society Ltd - Company Overview
    • 10.6.1. Liverpool Victoria Friendly Society Ltd - key facts
    • 10.6.2. Liverpool Victoria Friendly Society Ltd - main products
    • 10.6.3. Liverpool Victoria Friendly Society Ltd - main competitors
    • 10.6.4. Liverpool Victoria Friendly Society Ltd - key employees
  • 10.7. National Farmers Union Mutual Insurance Society - Company Overview
    • 10.7.1. National Farmers Union Mutual Insurance Society - key facts
    • 10.7.2. National Farmers Union Mutual Insurance Society - main products
    • 10.7.3. National Farmers Union Mutual Insurance Society - main competitors
    • 10.7.4. National Farmers Union Mutual Insurance Society - key employees
  • 10.8. QBE Insurance (Europe) Ltd - Company Overview
    • 10.8.1. QBE Insurance (Europe) Ltd - key facts
    • 10.8.2. QBE Insurance (Europe) Ltd - main products
    • 10.8.3. QBE Insurance (Europe) Ltd - main competitors
    • 10.8.4. QBE Insurance (Europe) Ltd - key employees
  • 10.9. Royal & Sun Alliance Insurance Plc - Company Overview
    • 10.9.1. Royal & Sun Alliance Insurance Plc - key facts
    • 10.9.2. Royal & Sun Alliance Insurance Plc - main products
    • 10.9.3. Royal & Sun Alliance Insurance Plc - main competitors
    • 10.9.4. Royal & Sun Alliance Insurance Plc - key employees
  • 10.10. Zurich Insurance Plc - Company Overview
    • 10.10.1. Zurich Insurance Plc - key facts
    • 10.10.2. Zurich Insurance Plc - main products
    • 10.10.3. Zurich Insurance Plc - main competitors
    • 10.10.4. Zurich Insurance Plc - key employees

11. Statistics

  • 11.1. Review Period: 2008-2012
  • 11.2. Forecast Period: 2013-2018

12. Appendix

  • 12.1. Methodology
  • 12.2. Contact Timetric
  • 12.3. About Timetric
  • 12.4. Timetric's Services
  • 12.5. Disclaimer

List of Tables

  • Table 1: Insurance Industry Definitions
  • Table 2: UK Commercial Motor Insurance - Market Summary (GBP Thousand), 2008-2012
  • Table 3: UK Commercial Motor Insurance - Market SWOT Analysis
  • Table 4: Recent and Upcoming UK Regulatory Changes
  • Table 5: Ageas (UK) Ltd, Key Facts
  • Table 6: Ageas (UK) Ltd, Main Products
  • Table 7: Ageas (UK) Ltd, Key Employees
  • Table 8: Allianz Insurance Plc, Key Facts
  • Table 9: Allianz Insurance Plc, Main Products
  • Table 10: Allianz Insurance Plc, Key Employees
  • Table 11: Aviva Plc, Key Facts
  • Table 12: Aviva Plc, Main Products
  • Table 13: Aviva Plc, Key Employees
  • Table 14: Axa UK Plc, Key Facts
  • Table 15: Axa UK Plc, Main Products
  • Table 16: Axa UK Plc, Key Employees
  • Table 17: Direct Line Insurance Group Plc - Key Facts
  • Table 18: Direct Line Insurance Group Plc - Main Products
  • Table 19: Direct Line Insurance Group Plc - Key Employees
  • Table 20: Liverpool Victoria Friendly Society Ltd, Key Facts
  • Table 21: Liverpool Victoria Friendly Society Ltd, Main Products
  • Table 22: Liverpool Victoria Friendly Society Ltd, Key Employees
  • Table 23: National Farmers Union Mutual Insurance Society, Key Facts
  • Table 24: National Farmers Union Mutual Insurance Society, Main Products
  • Table 25: National Farmers Union Mutual Insurance Society, Key Employees
  • Table 26: QBE Insurance (Europe) Ltd, Key Facts
  • Table 27: QBE Insurance (Europe) Ltd, Main Products
  • Table 28: QBE Insurance (Europe) Ltd, Key Employees
  • Table 29: Royal & Sun Alliance Insurance Plc, Key Facts
  • Table 30: Royal & Sun Alliance Insurance Plc, Main Products
  • Table 31: Royal & Sun Alliance Insurance Plc, Key Employees
  • Table 32: Zurich Insurance Plc, Key Facts
  • Table 33: Zurich Insurance Plc, Main Products
  • Table 34: Zurich Insurance Plc, Key Employees
  • Table 35: Commercial Motor Insurance (GBP Thousand), 2008-2012
  • Table 36: Commercial Motor Insurance (GBP Thousand), 2013-2018

List of Figures

  • Figure 1: UK Commercial Motor Insurance - Gross Written Premiums (GBP Million), 2008-2012
  • Figure 2: UK Commercial Motor Insurance Category Shares by Gross Written Premium (%), 2012
  • Figure 3: UK Fleet Commercial Vehicles - Gross Written Premium (GBP Million), 2008-2012
  • Figure 4: UK Non-Fleet Commercial Vehicles - Gross Written Premium (GBP Million), 2008-2012
  • Figure 5: Other UK Commercial Vehicles - Gross Written Premium (GBP Million), 2008-2012
  • Figure 6: UK Commercial Motor Insurance - Penetration Rate (%) and Density (GBP), 2008-2012
  • Figure 7: UK Commercial Motor Insurance - Net Claims Paid and Incurred (GBP Million), 2008-2012
  • Figure 8: Reported UK Road Accidents and Motor Compensation Cases Lodged (Thousand), 2007-2013
  • Figure 9: UK Business Investment Growth (%), 2004-2013
  • Figure 10: New UK Commercial Vehicle Registrations (Thousands), 2004-2012
  • Figure 11: New UK Car Registrations (Millions), 2008-2013
  • Figure 12: UK Stock of Commercial Vehicles (Thousand), 2004-2012
  • Figure 13: UK Commercial Motor Insurance - Gross Written Premiums Forecast (GBP Million) 2013-2018
  • Figure 14: UK Commercial Motor Insurance - Commissions (GBP Millions) 2008-2012
  • Figure 15: UK Commercial Motor Insurance - Combined Operating Ratio (%) 2008-2012
  • Figure 16: UK Commercial Motor Insurance - Loss and Expense Ratios (%) 2008-2012
  • Figure 17: Market Shares of the Top 10 UK Commercial Motor Insurers (%) in 2012
  • Figure 18: UK Commercial Motor Insurance - Five Forces Analysis
  • Figure 19: UK Insurance Regulatory Framework
  • Figure 20: UK Real GDP Growth (%), 2008-2017
  • Figure 21: UK Private Sector Net Lending and Business Investment (%), 2004-2013
  • Figure 22: UK New Commercial Vehicle Registrations, 2004-2013
  • Figure 23: UK Consumer Price Inflation (%), 2004-2013
  • Figure 24: UK Bank of England Rate (%), 2004-2012
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