Distribution in UK Personal General Insurance 2008

This brief analyzes the market share of the different channels through which consumers purchase their home and private motor cover and also details how consumers' household income influences their method of insurance arrangement. In addition, the brief provides insight into the marketing spend and media strategy of the top 10 insurance advertisers.

Report Highlights
Partnerships have faired well in highly commoditized insurance lines such as private motor as consumers have become comfortable arranging their cover from providers such as retailers that do not offer the insurance expertise found in players from other channels.

The beginning of 2008 saw Direct Line launch a campaign that ran throughout the year, alerting people to the importance of quality car insurance and marking a move away from a traditionally price focused message, though later TV adverts released in August stressed a two year premium rate freeze.
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Overview 1
Catalyst 1
Summary 1
Methodology 1
Introduction 4
The Retail Banking Competitor Tracker provides both one-month and 12-month views of developments 4
Key Trends and Developments in December 6
The second half of 2008 saw unprecedented changes in the financial system 6
Many banks are focusing on providing assistance to customers in financial distress 8
December witnessed relatively high levels of competitor activity 10
M&A, partnerships and organic growth 14
Australia and New Zealand Banking Group Limited (ANZ) 14
Citibank 14
Commonwealth Bank of Australia (CBA) 15
Fortis Bank 16
Intesa Sanpaolo 16
Intesa Sanpaolo & UniCredit Group 16
Lloyds TSB 17
Millennium BCP 17
Mitsubishi UFJ Financial Group (MFUG) 17
Nedbank 17
Nordea Bank 18
Oversea-Chinese Banking Corporation (OCBC) 18
Société Générale 18
UniCredit Group 18
Westpac Banking Group (WBC) 18
Product, Services and Innovation 20
Alliance & Leicester 20
Barclays 20
BNP Paribas 20
Citibank 21
HBOS 21
Intesa Sanpaolo 22
Nationwide Building Society 22
Northern Rock 24
The Royal Bank of Scotland 24
UniCredit Group 24
Appendix 25
Methodology 25
Ask the analyst 25
Datamonitor consulting 25
Disclaimer 25
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Table 1: Private motor insurance GWP distribution by channel (All business), 2004-08e 3
Table 2: Household insurance GWP distribution by channel (All business), 2004-08e 5
Table 3: Top 10 personal general insurance advertisers, 2006-08, (£) 7
Table 4: Top 10 personal general insurance advertisers' spend by media, 2006-08 (£) 9
Figure 1: The direct channel continues to be the number one route to market for private motor insurance 3
Figure 2: Banks lost market share in the home insurance market as mortgage linked sales declined in 2008 5
Figure 3: Three aggregators now feature in the top 10 insurance advertisers 7
Figure 4: The top 10 general insurance advertisers devoted the majority of their spending to TV advertising in 2008 9
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