The UK travel insurance market is very competitive unlike other lines where a select few providers have a wider customer base than others. This has resulted in a finely priced market in which rates are set to cover claims inflation. However, the extent of hardening will be limited by competition and the amount of choice available to consumers.

1. UK Travel Insurance Market Growth

2. The UK travel insurance market is very competitive unlike other lines
where a select few providers have a wider customer base than others.
This has resulted in a finely priced market in which rates are set to cover
claims inflation. However, the extent of hardening will be limited by
competition and the amount of choice available to consumers.
Synopsis
• Gain an insight into the factors driving the travel insurance market and
its dependence on the prosperity of the economy.
• A comparative study of single-trip and annual policies, and the
channels affecting the distribution of these products.
• Discover how the socio-political situations in certain destinations are a
cause for concern for insurers as well as holidaymakers.
• An analysis of the profit/loss ratios in the market and what this means
for insurers and consumers alike.

3. Reasons to Buy
Is the travel insurance market profitable for insurers?
Why are banks and building societies popular for distributing annual
policies?
How is the British pound faring against the currencies of some of the
world's top travel destinations?
Why are older travelers now considered to be a target demographic,
despite being a greater risk to insurers?

4. Key Highlights
Insurers are making small sums of money from the market and it has
remained this way for several years after its peak in 2010. The market
is interlinked with the economy and the levels of disposable income
consumers have to spend on travel.
Travel insurance is often bought for a specific trip or to cover several
planned trips. Consumers risk wasting an annual policy or letting it
lapse if they do not have sufficient travel planned for the remainder of
the policy term.

5. For more information on the research report, refer to below link:
https://www.kenresearch.com/banking-financial-services-and-
insurance/insurance/uk-travel-insurance-market-dynamics-
opportunities/2233-93.html
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