An in-depth analysis of the private medical insurance market in the UK, covering market size, key competitors, customer dynamics and forecasts.

Scope

Data and market research, including information on premium income, policyholder numbers and underwriting profitability Insight into the competitive environment in the market, including the individual and group sectors Information on PMI product penetration, as well as survey data on consumer attitudes and customer characteristics Two scenarios forecasting the market's GWP growth until 2011, based on primary research and in-house expertise

Highlights

Individual sector PMI providers appeared to establish better control over pricing in 2005, reducing premium inflation to 2.7 per cent. Average prices have risen substantially in recent years, by as much 8.9 per cent, and this has had a negative impact on customer retention. Individual PMI subscriber numbers declined for a ninth consecutive year in 2005, however the rate of this decline slowed compared to 2004. Whereas numbers fell by 5.3 per cent in 2004, the decline slowed to 3.8 per cent in 2005, as providers reduced the flow of customers leaving the market. BUPA and AXA PPP, the two largest insurers in the PMI market both increased their share in 2005. This reflected large increases in premium income, which outstripped increases made by their competitors. BUPA, for example, achieved an increase in premium income of 17.2 per cent in 2005.

Reasons to Purchase

Understand trends in policyholder numbers and mean premium costs Benchmark your market share against those of major competitors Develop your future market strategy using Datamonitor's unique forecasts