2024 Research Reports
Individual and Business Protection Report
This third edition of Health & Protection’s Individual and Business Protection Report brings advisers and intermediaries a detailed independent view of the term life, critical illness (CI), income protection (IP) and business protection markets.
The market saw a small drop in the number of lives covered in terms of like-for-like figures from 2022.
Like-for-like new business sales across the market fell more sharply, suffering a steeper drop of 128,000 or 10% to 1.18 million completions among those insurers who replied.
Life insurance and critical illness new business sales fell but income protection and business protections policy sales grew.
After a tough year, insurers were generally optimistic about the short-to-medium term prospects for the future of the market believing the worst economic conditions were over.
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Individual PMI Report
This third edition of Health & Protection’s Individual Private Medical Insurance Report brings advisers and intermediaries a detailed view of the market’s key providers, market share and product offerings.
The market continued its strong growth strongly with like-for-like figures showing a 11% rise in PMI customers in a year.
However there was a growing feeling among insurers that market growth was beginning to level off with premium rises and the cost of living starting to restrict affordability.
Claims appeared to be plateauing but remained high and declined rates also appeared to be flattening, but pre-existing conditions and moratoriums remained a key concern.
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IPMI Report including Provider Service Ratings
This third edition of Health & Protection’s International Private Medical Insurance Report brings advisers and intermediaries a detailed independent view of the market’s key providers and views from the intermediaries working in it.
Providers and advisers operating in the market are increasingly positive of the sector despite significant challenges over the last year.
Adviser incomes are rising but providers expect premiums to continue growing steeply over the coming years.
The report also includes the latest version of the Health & Protection IPMI Provider Service Ratings based on independent market research from more than 200 intermediaries.
This year three providers achieved the coveted Five Star Service Rating with a further two being awarded Four Star ratings.
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2023 Research Reports
Individual and Business Protection Report
This second UK Individual and Business Protection Report brings advisers and intermediaries a detailed view of the term life, critical illness (CI), income protection (IP) and business protection markets.
The market saw a small drop in the number of lives covered in terms of like-for-like figures from 2021.
However, like-for-like new business sales across the market were up by more than 7% or 69,847 to more than one million completions among those insurers who replied.
Life insurance sales rose 5.5%, critical illness new business sales were up by 11% while income protection policies in-force grew by 4.4%.
Insurers noted the contrasting economic environment where cost of living increases mean affordability is a key issue but post-pandemic awareness of the market and its importance is high among consumers.
Individual PMI Report
This second edition of Health & Protection’s Individual Private Medical Insurance Report brings advisers and intermediaries a detailed view of the market’s key providers, market share and product offerings.
The market is growing strongly with like-for-like figures showing a 13% rise in PMI customers in a year – with confidence high of further strong gains to come.
However, product use and claims are soaring with declined claims rising faster.
As a result there are concerns from insurers around switching practices and ensuring customers are well informed about the medical histories and the impact on coverage.
IPMI Report including Provider Service Ratings
This second edition of Health & Protection’s International Private Medical Insurance Report surveyed providers and advisers to obtain detailed, unbiased views on the health and operations of the sector from both sides of the industry.
Confidence in the IPMI market is soaring as the sector is making a strong recovery following the Covid-19 pandemic.
Adviser income has been lifted by the growing market and providers are predicting the buoyant market to continue.
The report also includes the latest version of the Health & Protection IPMI Provider Service Ratings based on independent market research from more than 200 intermediaries. This year five providers achieved the coveted Five Star Service Rating with a further six being awarded Four Star ratings.
2022 Research Reports
Individual and Business Protection Report
This first UK Individual and Business Protection Report brings advisers and intermediaries a detailed view of the term life, critical illness (CI), income protection (IP) and business protection markets.
The report is designed to assist advisers, intermediaries and brokers in understanding which providers operate in which sectors and what their key operating and proposition points are.
Additionally, the research examines insurers’ propositions, how they are building wider product offerings and their expectations for the future of the market.
More than 10 million lives are covered by individual and business protection products, according to this data.
Individual PMI Report
This first UK private medical insurance (PMI) report analyses the extent of the market.
The report is available to download for free by advisers, intermediaries and brokers operating in the space.
It takes a deep dive into the PMI sector, looking at the key players, analysing the size of the market, the main provider movements and key product developments.
IPMI Report including Provider Service Ratings
The first edition of Health & Protection’s International Private Medical Insurance Report brings advisers and intermediaries a detailed view of the market’s key providers and views from the intermediaries working in it.
With overseas placements severely disrupted over the last two years Health & Protection conducted two sets of research – from providers and advisers – to understand the sector and garner a picture from both sides of the industry.
More than 2.65 million people are covered by international private medical insurance plans in more than 150 countries and territories.
The report also includes the first edition of the Health & Protection Service Ratings which uses independent market research from more than 200 intermediaries to assess and rate the performance of insurers in seven key areas most important to advisers.
2021 Research Reports
Retail Cash Plans & Dental Plans Report
This inaugural edition of Health & Protection’s Retail Cash Plan and Dental Plan Report assesses the size and scale of these markets and the key players in it.
The report assists advisers, intermediaries and brokers in understanding which providers operate in which sectors and what their main operating and proposition points are.
Data included in this report is for up to 31 December 2020 and so includes how providers responded to the first nine months of the Covid-19 pandemic.
The research finds the retail cash plan market is in excess of 500,000 members with one provider dominating. The retail dental plan market has more than 50,000 members and is again led by one provider.
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For more information
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