{"product_id":"united-kingdom-uk-protection-insurance-critical-illness-market","title":"United Kingdom (UK) Protection Insurance - Critical Illness Market","description":"\u003cp\u003eUnited Kingdom (UK) Protection Insurance - Critical Illness Market\u003cbr\u003e\nSummary\u003c\/p\u003e\n\n\n\u003cp\u003eThis report provides an in-depth assessment of the critical illness insurance market, looking at current and historical market size with regards to changes in contracts and premiums. It examines how critical illness products are distributed and highlights notable changes in the competitive landscape, as well as the propositions of key market players. The value of claims is also assessed. The report provides five-year forecasts of contracts and premiums to 2027 and discusses how the market, distribution, and products offered are likely to change in the future (as well as the reasons for these changes).\u003c\/p\u003e\n\n\u003cp\u003eIn 2022, the number of contracts in the standalone critical illness market decreased by 4.2% to 70,600. Meanwhile, premiums increased by 18.2% to GBP28.7 million. Critical illness as a rider for term assurance saw contracts decrease by 5.9% and premiums fall by 2% in 2022. Legal \u0026amp; General (L\u0026amp;G) was the top provider of critical illness insurance in 2022 with a market share of 21.8% for all contracts sold (both standalone and as a rider).\u003c\/p\u003e\n\n\u003cp\u003eScopeThe cost-of-living crisis has impacted consumer behavior, with some individuals canceling policies. As a result, insurers should look to come up with more affordable or flexible policies.Insurers should look to improve their underwriting capabilities to include those that have chronic conditions, such as Type 2 diabetes. Given that this market is relatively untapped, it opens up the possibility for growth.Consumers have been shifting towards the purchase of insurance online, sped up by the pandemic’s impact on digital adoption. The life insurance sector has generally been behind on digitalization; however, shifting consumer dynamics should act as a catalyst for insurers to improve their digital capabilities.Reasons to BuyExamine the size of the standalone critical illness insurance marketIdentify the leading providers of critical illnessLearn about the implications of the cost-of-living crisis on the marketUnderstand the influence of a variety of factors on market growth\u003c\/p\u003e","brand":"Service Industries","offers":[{"title":"September, 2023 \/ 44 Pages \/ MCW16277797","offer_id":47710407328050,"sku":null,"price":4140.0,"currency_code":"USD","in_stock":true}],"url":"https:\/\/www.hardmanwell.com\/products\/united-kingdom-uk-protection-insurance-critical-illness-market","provider":"HARDMAN AND WELL MANAGEMENT CONSULTANCIES L.L.C","version":"1.0","type":"link"}