Claims Management in UK General Insurance 2007
Claims Management in UK General Insurance 2007 - New Research Report on Companies and Markets
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Introduction
This report provides a comprehensive analysis of claims costs in the UK general insurance market covering motor, property and liability insurance. It reviews historical claims costs and makes predictions about the future claims bill as well as discussing the drivers behind these forecasts. The report also analyses the claims management efficiency of a number of competitors in the market.
Scope
Detailed analysis
of the claims cost efficiency of the top 20 insurers in the motor, property and liability markets Extensive claims costs and underwriting data for the motor, property and liability markets Forecasts of net claims incurred for the motor, property and liability markets until 2012
Highlights
The number of road accidents fell significantly in 2006, declining by 5.0 per cent to a total of 189,000. The number of accidents has been declining steadily since 1997, and accidents have declined particularly quickly since 2001, falling by an average of over 3.5 per cent per year between 2001 and 2006. The ratio of total claims management costs to total net claims incurred reached 5.7 per cent in 2006, an increase of 0.1 percentage points from 2005 indicating a small decline in total claims handling efficiency UKI Ins was the most efficient property insurance claims handler in 2006. UKI Ins recorded the lowest ratio of property insurance claims management costs to net property insurance claims incurred at just 1.6 per cent in 2006 despite its ratio deteriorating by 0.4 percentage points from 2005.
Reasons to Purchase
Benchmark your claims handling efficiency against your competitors Understand the key trends in motor, property and liability insurance claims costs Gain an insight into profitability of the motor, property and liability insurance markets.
Introduction
This report provides a comprehensive analysis of claims costs in the UK general insurance market covering motor, property and liability insurance. It reviews historical claims costs and makes predictions about the future claims bill as well as discussing the drivers behind these forecasts. The report also analyses the claims management efficiency of a number of competitors in the market.
Scope
Detailed analysis
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Highlights
The number of road accidents fell significantly in 2006, declining by 5.0 per cent to a total of 189,000. The number of accidents has been declining steadily since 1997, and accidents have declined particularly quickly since 2001, falling by an average of over 3.5 per cent per year between 2001 and 2006. The ratio of total claims management costs to total net claims incurred reached 5.7 per cent in 2006, an increase of 0.1 percentage points from 2005 indicating a small decline in total claims handling efficiency UKI Ins was the most efficient property insurance claims handler in 2006. UKI Ins recorded the lowest ratio of property insurance claims management costs to net property insurance claims incurred at just 1.6 per cent in 2006 despite its ratio deteriorating by 0.4 percentage points from 2005.
Reasons to Purchase
Benchmark your claims handling efficiency against your competitors Understand the key trends in motor, property and liability insurance claims costs Gain an insight into profitability of the motor, property and liability insurance markets.
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