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市場調查報告書

富裕階級 (高淨值投資者(HNW)) 用住宅 (家產) 保險

High Net Worth Household Insurance 2018

出版商 GlobalData 商品編碼 630774
出版日期 內容資訊 英文 36 Pages
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富裕階級 (高淨值投資者(HNW)) 用住宅 (家產) 保險 High Net Worth Household Insurance 2018
出版日期: 2018年04月23日內容資訊: 英文 36 Pages
簡介

英國的富裕階級 (高淨值投資者(HNW)) ·中間富裕階級 (MNW)的家庭數,預測在今後5年將持續增加。

本報告提供富裕階級 (高淨值投資者(HNW)) ·中間富裕階級 (MNW) 用住宅 (家產) 保險調查分析,提供有代表性的保險商品,銷售方法,問題點,主要企業,最近的趨勢等系統性資訊。

第1章 摘要整理

第2章 高淨值投資者(HNW)·MNW的居家保險市場

  • 簡介
  • 個人富裕階級的分類 (MNW·高淨值投資者(HNW))
  • MNW·高淨值投資者(HNW)的住宅保險市場成長

第3章 銷售

  • 繼續,個人MNW形成市場
  • 高淨值投資者(HNW)保險市場上,服務鑰匙
  • 行業間的聯盟,開拓新的基本客群

第4章 競爭企業趨勢

  • 高淨值投資者(HNW)·MNW領域的最大企業
  • 多數的其他專門供應商
  • 大眾市場保險公司也出現在富裕人士和MNW市場

第5章 市場未來

  • 市場今後也將呈成長趨勢
  • 技術的整合
  • 線上的重要性

第6章 附錄

目錄
Product Code: FS0120IA

Within the UK household insurance market there is a segment dedicated to providing specialist policies for individuals whose above-average wealth would result in them being underinsured should they hold a standard, mass market policy. In response, providers have developed policies for both mid net worth (MNW) and high net worth (HNW) individuals that typically have wider coverage and higher limits than standard policies.

The number of HNW and MNW households in the UK is forecast to continue rising over the next five years. This, combined with average premiums which it is believed will hold constant or rise slightly, will allow the market GWP to continue its year-on-year growth. In order for providers to capitalize on this potential growth they must begin to adopt online platforms which can be utilized for the purchasing journey and claims process, as customer preferences have slowly started to change towards those found within the mass market.

Key findings included in this report -

  • The dominant players in the specialist household insurance market remain Hiscox and Chubb.
  • Consumer purchasing and research attitudes found within the mass market are beginning to trickle into the MNW market, as individuals' wealth grows and they continue to hold these attitudes.
  • Specialist HNW and MNW insurers are regarded as providing some of the best insurance across the industry.

The report "High Net Worth Household Insurance 2018", provides an in-depth study into specialist home insurance products for wealthy individuals. The report outlines what a typical MNW and HNW home insurance product includes and how they are distributed. Key issues associated with the industry are addressed in addition to highlighting key market players, their products and latest developments.

Companies mentioned in this report: AIG, Aviva, AXA ART, Chubb, Covea, Hiscox, Plum Underwriting, Zurich, XL Group, Azur

Scope

  • The dominant players in the specialist household insurance market remain Hiscox and Chubb.
  • Consumer purchasing and research attitudes found within the mass market are beginning to trickle into the MNW market as individuals' wealth grows and they continue to hold these attitudes.
  • Specialist HNW and MNW insurers are regarded as providing some of the best insurance across the industry.

Reasons to buy

  • Benchmark yourself against the rest of the market.
  • Ensure you remain competitive as new innovations and insurance models begin to enter the market.
  • Be prepared for how regulation will impact the household insurance market over the next few years.

Table of Contents

  • EXECUTIVE SUMMARY 1
  • 1.1. Market summary 1
  • 1.2. Key findings 1
  • 1.3. Critical success factors 1
  • 2. THE HNW & MNW HOUSEHOLD INSURANCE MARKET 7
  • 2.1. Introduction 7
  • 2.2. What classifies an individual as MNW or HNW? 7
  • 2.2.1. Insurers' definition of MNW and HNW individuals 7
  • 2.2.2. The value of contents insured and rebuild costs are used to classify individuals 7
  • 2.2.3. The diversity of risks is far greater for MNW and HNW individuals 8
  • 2.2.4. Underinsurance is a problem in the specialist home insurance market 9
  • 2.3. Growth in the MNW and HNW home insurance market 9
  • 2.3.1. The market has grown consistently over the previous five years 9
  • 2.3.2. Further growth in the market is possible, with the key being MNW individuals 11
  • 2.3.3. The number of policies written is steadily increasing 13
  • 2.3.4. Product targeting and identifying customers is crucial to achieving higher growth 15
  • 3. DISTRIBUTION 16
  • 3.1. MNW individuals continue to shape the market 16
  • 3.1.1. There is a growing shift towards the online marketplace for MNW home insurance 16
  • 3.1.2. Brokers must incorporate technology 16
  • 3.2. Service is the key to the HNW insurance market 17
  • 3.2.1. Complex risks make brokers essential for HNW household insurance clients 17
  • 3.2.2. HNW insurers remain among the best service providers 17
  • 3.2.3. The HNW claims process is as streamlined as possible 19
  • 3.3. Collaboration across industries could help unlock a new client base 19
  • 3.3.1. Working with other financial services providers will allow for new clients to be sourced 19
  • 4. COMPETITOR DYNAMICS 20
  • 4.1. The largest players in the HNW and MNW space 20
  • 4.1.1. Hiscox's 506 and 606 policies target MNW and HNW individuals 20
  • 4.1.2. Chubb offers three levels of household insurance 21
  • 4.2. A number of other specialist providers also operate within the market 21
  • 4.2.1. Covea offers two specialist policies designed for the MNW and HNW markets 21
  • 4.2.2. Plum Underwriting includes home cyber insurance in its offerings 22
  • 4.3. Mass market insurers are also present in the HNW and MNW market 22
  • 4.3.1. Aviva Private Clients opens doors to the HNW segment 23
  • 4.3.2. Zurich Private Clients caters for HNW individuals 23
  • 4.3.3. AXA's acquisition of XL Group will help expand its HNW offering 23
  • 4.3.4. AIG has a presence in the HNW market through its joint venture with Azur 24
  • 5. THE MARKET GOING FORWARD 25
  • 5.1. The market is set to continue growing over the coming years 25
  • 5.1.1. The number of households in the UK requiring specialist policies looks set to increase 25
  • 5.1.2. The total number of policies written is forecast to continue growing 26
  • 5.1.3. GWP is forecasted to break the £1.1bn mark 28
  • 5.1.4. Foreign individuals may provide a boost to market GWP 29
  • 5.2. Technology will become integral to enhancing the cover offered 29
  • 5.2.1. Smart devices will help reduce the cost of claims for insurers while giving customers peace of mind 29
  • 5.2.2. Security systems will become increasingly complex 30
  • 5.2.3. Cyber insurance is becoming a common element of HNW household insurance 30
  • 5.3. The online world will become of increasing importance 31
  • 5.3.1. Growth in the online channel will help to fuel competition further 31
  • 5.3.2. Aggregators could potentially disrupt the market 31
  • 5.3.3. Chatbots could further enhance the customer experience 32
  • 6. APPENDIX 33
  • 6.1. Abbreviations and acronyms 33
  • 6.2. Bibliography 33
  • 6.3. Further reading 34

List of Tables

  • Table 1: Parameters used to classify customers 8
  • Table 2: Total GWP of the HNW and MNW household insurance markets 10
  • Table 3: The number of household insurance policies written in the MNW and HNW market 13
  • Table 4: Forecasted number of MNW and HNW households in the UK 25
  • Table 5: The forecasted number of MNW and HNW household insurance policies written 27
  • Table 6: The forecasted values of both the HNW and MNW household insurance markets 28

List of Figures

  • Figure 1: MNW and HNW household insurance market GWP continues to grow 10
  • Figure 2: The number of MNW individuals in the UK continue to grow steadily 12
  • Figure 3: The number of individuals classed as HNW in the UK continues to grow 13
  • Figure 4: Policy numbers continue to increase year-on-year 14
  • Figure 5: There is considerable potential for growth in the MNW market 15
  • Figure 6: Insurers that specialize in HNW insurance are seen as providing the best service 18
  • Figure 7: MNW and HNW household numbers are set to increase 26
  • Figure 8: The number of policies written is forecasted to continue increasing 27
  • Figure 9: The market is forecast to continue steady year-on-year growth 28