Industry Analysis & Industry Trends
The UK General Insurance industry constitutes the world's most specialised risk policy underwriters. General insurance participants provide a range of insurance products including motor insurance, property and content insurance, general liability insurance, and accident and health insurance. The industry generates revenue from two main sources: premium income and income from investments.
The General Insurance industry experienced tough conditions over the past five years as bleak economic conditions in the United Kingdom resulted in weak demand for many general insurance products. Market softening conditions also negatively affected industry revenue... purchase to read more
Industry Report - Industry Investment Chapter
Information technology is an important component of general insurers' operations and, consequently, accounts for a sizeable portion of insurers' capital investment programs. IT offers extensive applications throughout an insurer's business, from back-office functions to investment activities to retail activities. Indeed, IT investments have eased the labour burden of risk assessment, policy pricing and historical claims analysis. Historically, such analysis required a large number of personnel to analyse a large body of claims and loss data, but insurers' investments in ever-improving IT has enabled them to better store, aggregate, manipulate and analyse claims data and then overlay this analysis on the company's balance sheet. This has reduced the labour intensity of this process... purchase to read more