Table of Contents
Introduction and Abbreviations
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- Abbreviations
Executive Summary
Market Factors
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- There is a marked relationship between consumer expenditure and the size of the private car parc, as is apparent from Figure 4. The fall in relative savings and the corresponding increase in expenditure reflects increased confidence in the economy as a whole, with consumers spending money that they may previously have saved, in the expectation of continued economic growth. This rise in confidence is also reflected in the increased expenditure on car finance schemes, which have risen by around one third over the last six years.
- Source: SMMT/Mintel
- Increases in multiple car ownership
- Government policy has failed to discourage car use
- Measures planned to reduce the number of uninsured drivers
Market Size
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- All business:
- Domestic:
- Real premiums still below 1993 rates
Pricing and Premiums
Key Players
Distribution
The Internet
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- “How did you arrange your car insurance when you last bought or renewed a policy?”
Non-Standard Risk
Advertising
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- Other 10.22 30
The Consumer
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- “When you last bought car insurance who did you buy it from?”
- Contd…
The Future
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- At 2000 prices
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