Motor Insurance—UK—March 2019: “Pay as You Ride” Supplement Insurance Coverage

Posted by Deeksha on August 19th, 2019

As disruptive new comers, technology innovation and increasing customer expectations redefining the landscape, insurers remain attentive on addressing challenges, proliferating top-line sales, bottom-line profitability and flourishing in the robust motor insurance spectrum. With consumers vividly wanting more control over specific coverage. Nevertheless, a few of the pioneering insurance companies have rolled out “pay as you ride” supplemental life insurance coverage for motorcycle mavericks. These assimilations are according to the intelligence report, titled, “Motor Insurance—UK—March 2019,” which has been freshly added to Market Research Hub’s (MRH) exponential armamentarium. Motor insurance is one of the largest property and casualty (P&C) insurance business lines in the U.K. Nevertheless, Direct Line is UK’s largest personal motor insurer, while Confused.com rides high on reigning the car insurance advertiser landscape. The automotive industry in the UK is undergoing through a swift change owing to ongoing technological development, incorporating surged autonomous cars and augmented connectivity. Predominantly, technological developments have bolstered road safety, thereby reducing accidents rates and leading to fewer frequency of claims. That said, conundrum lurking with Brexit deal act as a deterrent in the growth of motor insurance landscape as the UK is stipulated to leave the EU by 31st October 2019. Nevertheless, economic turmoil of 2007-2008 left an indelible mark on UK motor sector.

The cost of vehicle repair is soaring, with notable rise in average generic part price that is fueled by profound use of advanced driver assistance systems (ADAS) and the heightened cost of imported vehicle parts. 

Notably, upsurge in the use of telematics has been witnessed over the years—preferably by young drivers who otherwise pay high premiums.

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Motor Insurance—UK—March 2019: Report Content

Quantitative and qualitative assessment exhort intelligence and overarching report on the motor insurance—UK—March 2019 market. Further, the report thoroughly delineates various aspects of the market that will potentially have considerable influence on the development of the motor insurance—UK—March 2019 market. As such, those aspects incorporate drivers, trends, restraints, and opportunities. Furthermore, the report elucidates segregation of the market that provides an exhaustive analysis on motor insurance—UK—March 2019.

An insightful and deep-dive assessment of the competitive assessment of the motor insurance—UK—March 2019 market pins hope on Porters’ Five Force Analysis. Accordingly, the Porters’ Five Force Analysis offers a pressing analysis on the potential strategies of the preeminent players in the motor insurance—UK—March 2019 market. In addition, the business strategies counts on company overview, product portfolio, SWOT analysis, key differentiation and recent development.

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Motor Insurance—UK—March 2019: Research Methodology

Primary sources and secondary sources propel intelligence report on motor insurance—UK—March 2019 market that provide deep dive analysis on the market. As such, the report provides reliable and unbiased projections, and assessments which have palpable impact on the market size and historical data. Besides, the report also counts on primary sources which hinges upon in-depth and intelligent analysis from well-grounded and reliable experts, telephonic interview, and a thorough assessment from surveys and seasoned analyst. Report on motor insurance—UK—March 2019 market further acknowledges secondary sources—namely—Factiva, EC filing, press release, trade journals, resourceful database and governmental websites.