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Commercial And Personal Non-Life Insurance Brokers In The UK

Two new research studies issued recently by Finaccord put a value of GBP 4.64 billion on the size of the total non-life insurance broking market in the UK in 2014, up marginally from GBP 4.55 billion in 2010. This was equivalent to a nominal compound annual growth rate of 0.5% but a compound annual rate of decline of 2.5% in real terms once inflation has been factored in. Moreover, the market size in 2014 was composed of around GBP 2.54 billion from commercial lines broking and GBP 2.10 billion from personal lines broking with the value of both segments having retreated in real terms since 2010.

"In terms of its overall value, the UK non-life insurance broking sector is both highly mature and competitive", commented Alan Leach, Director of Finaccord. "Nevertheless, while the market might appear stagnant at first glance, it masks considerable dynamism at the level of the specific competitors in it. Notably, merger and acquisition activity has been widespread in recent months and successful brokerages are achieving impressive rates of growth by implementing differentiated strategies in areas such as affinity and corporate partnerships, selling through aggregators, and developing expertise in specialist product or customer segments."

In addition to quantifying the value of the market, the latest research also ranks the top 60 brokerages in each of commercial and personal lines broking according to their fees and commissions generated from these activities in 2014. This data shows that the top three commercial lines brokers controlled 36.0% of the UK market in that year and the top ten 65.4% of it while the equivalent percentages for personal lines brokers were 32.4% for the top three and 63.4% for the top ten. However, while there has been a clear trend towards consolidation in commercial lines broking in recent years, this has been much less evident in personal lines broking.

Continued Alan Leach: "As has been well documented, many of the leading commercial lines brokers have expanded through purchasing smaller players in recent times. In particular, Arthur J. Gallagher is now ranked in the UK's top three as a result of a series of acquisitions made since 2011 and fast-growing competitors just outside of the top ten include Howden, a subsidiary of Hyperion Insurance Group, and US-based brokerage Integro. On the other hand, the IPOs of the AA and Saga out of Acromas Holdings in 2014 actually caused the UK's personal lines broking market to become less concentrated than before."

As for the future, Finaccord's analysis suggests that the UK non-life insurance broking sector will struggle to deliver much in the way of organic growth up to 2018. In fact, with a total forecast value of GBP 4.69 billion in that year, it will continue to decline in real terms as a result of both the limited scope for expansion of underlying non-life insurance markets and the fact that brokers will find it difficult to increase their distribution share in either commercial or personal lines. In the former case, this is because it is already very high (at around 88%) while in the latter it is due to on-going competition from alternative channels, most notably direct sales and aggregators.

"In order to compete successfully, non-life insurance brokers in the UK will have to carry on placing a high emphasis on innovation not only in their traditional field of broking but also, in some cases, in underwriting given that a number have set up facilities in this arena," concluded Alan Leach. "Conversely, a key issue for large insurance underwriters will be the recurring question of whether there is merit in their attempting to exert greater control over the broking channel by taking ownership of parts of it. Indeed, a number of the leading brokerages already belong to groups whose primary business is insurance underwriting."

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New Protection System Helps Advisers Protect More Lives, More Easily

Aviva has launched a new dedicated protection system to help advisers protect more lives, more easily. Called Aviva Life Protection Solutions (ALPS), the new end to end platform represents the largest change to happen in the Aviva protection business for many years.

With more people than ever taking steps to protect their families from the unexpected by taking out life insurance, income protection and critical illness cover, Aviva’s new ALPS system provides advisers with a user-friendly, interactive and intuitive way to help clients get tailored protection cover, whoever they are and whatever their needs.

Key features of ALPS include:

  • At the heart of ALPS is a slicker, quicker ‘quote and apply’ system. With multi-product applications advisers will, for the first time, be able to offer clients income
  • protection, life insurance and critical illness cover on the same application.
  • Signature free applications (e-sigs) for own life cases makes the application process simpler and quicker.
  • Aviva quotes multi-product quotes are now available on all major portals. See ‘quote and apply in action’ video here.
  • Using a bank of over 500,000 questions, 600 different conditions, interactive underwriting mode is expected to produce 75% immediate acceptances, giving more certain customer outcomes, immediately.
  • Nine out of 10 customers can also expect to receive a decision based on application alone [no further evidence required] within 24 hours.
  • Extra and quicker commission payments for advisers using interactive underwriting.
  • New end-to-end system is accessible through one single portal (Aviva for Advisers website) making it quicker and easier than ever to provide clients with all the cover they need, instantly.
  • A broad range of flexible, new protection products for Life, Critical Illness and Income Protection cover will allows advisers to provide clients with tailored solutions to meet their changing needs, both now and in the future (See Technical Guide to Protection)
  • New and improved features, like family income cover on Life and Critical illness options, and comprehensive critical illness cover for 56 conditions, as well as up to £3 million sum assured, makes a more flexible and appealing offer for customers.
  • Quick and easy, real-time case tracking provides advisers with the ultimate control 24/7. Self service status; progress and ‘next action’ reports and the ability to view and download case documents instantly, gives advisers the information they need, when they need it, to manage their business efficiently.


Louise Colley, protection director at Aviva says, “Protection is the bedrock of financial planning, giving people the confidence to build their futures without fear of the unknown.  We believe everyone deserves to understand both the financial risks they face, and the importance of protection.  

“The introduction of Aviva Life Protection Solutions has helped us transform the way advisers do business with us so they can protect more lives, more easily.

"ALPS is an intuitive and interactive system which I’ve no doubt will save advisers valuable time and money, at the same time as better identifying customers’ protection needs and providing them with that all-important peace of mind.

“By totally re-engineering our system, the journey from quote through to claim is much cleaner and easier to navigate and this will revolutionise how advisers will write protection business with us in the future.”

Access to the new ALPS digital services and Aviva’s complete (online) product range is available through all major portals including Aviva for Advisers, using existing sign on details. Available free of charge to all Aviva for Advisers registered users, advisers have everything they need to fully support and service their clients quickly and securely.

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14th January 2015 Latest International Private Medical Health Insurance Magazine News Articles

Healthy Passenger Demand in November

Global passenger traffic results for November 2014 show a continuation of the healthy demand trend of recent months. Total revenue passenger kilometers (RPKs) rose 6.0% compared to November 2013, which was ahead of the 5.7% year-over-year growth recorded in October as well as the 10-year average growth rate of 5.6%. November capacity expanded by 5.4%, leading to a 0.5 percentage point rise in the load factor to 76.7%. Growth was driven primarily by domestic markets which experienced a 6.9% increase in demand over the previous November (an acceleration over the 5.3% year-to-date average for domestic travel).

November Global Air Freight Growth Concentrates In Asia And Middle East

November 2014 data for global air freight markets showing that demand measured in freight tonne kilometers (FTK) grew 4.2% compared to November 2013. Capacity grew by 3.3% over the previous November. Compared to October 2014, air freight demand expanded by a healthy 0.8%. The most significant growth was recorded by carriers in the Asia-Pacific and Middle East regions, at 5.9% and 12.9%, respectively.

Cigna Life Insurance New Zealand Launches New Travel Insurance Cover

Cigna’s new comprehensive travel insurance provides mature customers with peace of mind and sense of security when travelling away from home. Cigna announced today its entry into the travel insurance market, with the new Cigna 50+ Travel Insurance designed specifically with the mature traveller in mind. Cigna already provides travel insurance through partner companies, but this is their first travel insurance product under the Cigna brand.

Status Global Insurance Now Offering Travel Insurance For Extensive Pre-Existing Medical Conditions

Status Global Insurance are excited to announce the ground-breaking launch of the specialised travel insurance product, Fit-4-Travel, which offers comprehensive cover, with no upper age limit to UK citizens residing throughout the EU, who have extensive pre-existing medical conditions. Many insurance companies aren’t able to provide travel insurance for pre-existing medical conditions, or if they do you end up paying an absurdly expensive premium. This can leave travellers’ well-being, and wallets dangerously exposed if they have a flare-up of an existing medical condition when abroad. Arranged in partnership with International Travel and Healthcare Ltd Fit-4-Travel provides a reasonably priced product that will cover a very wide range of pre-existing medical conditions.

Alternate Health Care Delivery Models And Payment Reform May Stall At Current Levels

A joint pulse survey between Aon Hewitt, the global talent, retirement and health solutions business of Aon (NYSE: AON), and Catalyst for Payment Reform, an independent, non-profit employer coalition pushing for better value in U.S. health care, shows that while employers find alternative provider delivery models and payment reform attractive, most admit they do not understand them or the value they provide. As a result, they may miss a significant opportunity to lead and improve results (health and financial) for their workforce and business.

Natural Catastrophe Insurance Losses Hit Five-Year Low In 2014

Impact Forecasting has launched its Annual Global Climate and Catastrophe Report, which evaluates the impact of the natural disaster events that occurred worldwide during 2014. The report reveals that 258 separate global natural disasters occurred in 2014, compared to a ten-year average of 260 events, causing a combined total insured loss of USD39 billion – 38 percent below the ten-year average of USD63 billion, and the lowest annual insured loss total since 2009. The two costliest insured loss events of the year were both a result of severe thunderstorms, in June (Europe: USD3.0 billion) and in May (United States: USD2.9 billion). Meanwhile, global economic losses from natural catastrophes in 2014 stood at USD132 billion – 37 percent below the ten-year average of USD211 billion. The September flood event in northern India and Pakistan resulted in the largest economic loss of the year, causing an estimated USD18 billion in damage and representing the fifth consecutive year that Pakistan has registered a billion-dollar flood event.

Workers Compensation Claims Will Decrease In 2015

Aon Risk Solutions has released its second Health Care Workers Compensation Barometer report. The report explores trends in frequency, severity and overall loss rates related to workers’ compensation for approximately 1,150 heath care facilities across the country. The 2014 report projects workers compensation loss rates will decrease one percent annually. The Health Care Workers Compensation Barometer report also shows that frequency of workers compensation claims has been slowly and consistently decreasing at the same one percent level over the ten year experience period analyzed.

Merger Creates One Of The Largest Providers In Canadian Travel Insurance

Allianz Worldwide Partners and The Co-operators have announced the completion of the merger of their respective Canadian travel insurance companies. The merger of Allianz Global Assistance Canada and TIC Travel Insurance Coordinators, first announced in September, has created one of the largest travel insurance providers in the country, operating as Allianz Global Assistance. The combined entity will leverage the strengths of the two organizations to offer industry-leading products and services for Canadian travellers and visitors to Canada.

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July Passenger Travel Shows Strong Growth

Global passenger traffic results for July 2014 show demand growth of 5.3% (measured in revenue passenger kilometers or RPKs) over the previous July. Capacity expanded exactly in tandem with demand (5.3%), resulting in a global load factor of 82.3%, unchanged from last year.

“July was another strong month of growth for air travel. People are connecting by air in ever greater numbers. That’s true across all regions. Despite the various economic challenges, the outlook for passenger travel remains broadly positive. The overall sluggishness at the beginning of the year appears to be behind us with growth in China and other emerging economies offsetting recent deterioration in the Eurozone,” said Tony Tyler, IATA’s Director General and CEO.

International Passenger Markets

July international passenger demand rose by 5.5% compared to the same month in 2013. This was outstripped by a capacity expansion of 6.2% which resulted in a slight weakening of the load factor to 81.9% (down 0.5 percentage points from the year-ago period, but still at a very high level).

European carriers reported growth of 5.3% in July compared to a year ago. Capacity expanded slightly more aggressively at 5.6%, but the region still reported a very high load factor of 85.1%. While this is a robust performance, latest indicators show a weakening in key European economies such as Germany reflecting the impact of sanctions associated with the deepening Russia-Ukraine crisis.

Asia Pacific airlines are benefitting from an improved economic environment. Demand growth was slightly above the global average at 5.6% which lagged a capacity increase of 6.8%. Load factor fell 0.9 percentage points to 78.9%. The biggest factor affecting demand developments is the response of the Chinese economy to stimulus measures which saw year-on-year GDP growth reach 7.5% in July.

North American airlines saw international demand grow by 2.9%--the slowest of all regions. Capacity expansion was nearly double that at 5.6%; nonetheless the load factor stood at 85.1%. Overall business conditions are the strongest since mid-2010, which bodes well for the region’s carriers.

Airlines in the Middle East recorded the strongest growth at 9.2%. This was ahead of a capacity expansion of 8.2%. Load factor rose 0.7 percentage points to 78.0%. The carriers are benefitting from the strength of regional economies and solid growth in business-related premium travel.

Latin American carriers reported growth of 6.7%, in line with a 6.6% capacity increase. Load factors stood at 82.5%. Robust economic performance in Colombia, Peru and Chile is being offset by weakness in Brazil. Furthermore, regional trade volumes are not expanding, the impact of which has been a dialing down of travel demand from the 8% growth range experienced in 2013.

African airlines reported growth of 4.9%, reversing the year-on-year contraction experienced in June. With capacity rising 4.5%, load factor improved slightly to 70.2%. The biggest factor impacting international traffic demand in July was the slowdown of the South African economy.

The Ebola outbreak in West Africa intensified towards the end of July, the impact of which will likely be seen in August.

Domestic Passenger Markets

Demand on domestic routes rose by 4.9% in July over the previous year, ahead of a 3.5% capacity increase, pushing load factor up 1.1 percentage points to 83.0%.

The strongest growth was recorded in China (8.8%) and Russia (9.9%). Russian airlines saw the strongest growth rate among major domestic markets at 9.9%. While the Russia-Ukraine crisis has seen a slowdown in the Russian economy, domestic demand grew as a result of a significant reduction in fares.

India’s domestic market increased by a solid 6.0% in July over the previous year. This could be an early sign of the success of the new government’s business-friendly stance. However, the government’s July budget announcement showed little spending stimulus which could keep India’s growth trend below the pace of other emerging markets.

The Bottom Line

“Airlines reported growth in July, which is a positive story for the global economy. Robust economic conditions support the expansion of travel. In turn connectivity stimulates economic growth and creates jobs. It’s a tried and tested virtuous circle. And the expectation is for continued solid growth over the remainder of 2014,” said Tyler. “We cannot ignore, however, the risks that could de-rail this trajectory. The Ebola outbreak in West Africa, weakness in the Eurozone, hostilities in Eastern Ukraine and instability in the Middle East loom large. Airlines are on track to record a profit of some $18 billion this year. But that is a net profit margin of just 2.4% which does not provide much of a buffer. So it is critical that governments shore-up connectivity with business friendly policies based on reasonable taxation, cost-efficient infrastructure and smart regulation.”

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Marsh Canada Acquires Kocisko Insurance Brokers Inc.

Marsh Canada, a subsidiary of Marsh, a global leader in insurance broking and risk management, announced today the acquisition of Kocisko Insurance Brokers Inc., a full-service commercial insurance brokerage based in Montreal, Quebec.

Terms of the transaction were not disclosed. Kocisko focuses on providing commercial insurance and risk management solutions to construction and surety operations throughout the province of Quebec. The Kocisko team will join Marsh Canada’s National Construction and Surety Practice, and will be based in Marsh’s Montreal location.

“I’m delighted to welcome Terry Kocisko and his talented and experienced team of construction and surety specialists to Marsh,” said Alan Garner, president & CEO, Marsh Canada Limited. “This addition enables us to offer greater resources and a broader platform to serve the needs of construction clients in Quebec.”

“Becoming a part of Marsh Canada Limited is a terrific evolution for Kocisko,” said Terry Kocisko, CEO of Kocisko. “Our clients will benefit from the tremendous service and broader array of capabilities and resources that Marsh has to offer.”

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UK Private Medical Insurance Company

UK Private Medical Insurance Company

You may be a frequent flyer business traveler, student, leisure or medical health tourist considering the Expatriate Life.

Perhaps you are already established as a Expatriate living far from home on distant shores. Where ever you are now, understanding UK Private Medical Insurance company requirements is vital to safe, risk free Global travel. Accidents do happen and when you least expect it. Insuring you have the right type of Private Medical Insurance plan from the right private medical insurance company will mean, should anything untoward happen, you will not be faced with a large medical bill, or even worse, insufficient medical care.

Expatriates searching the internet to source, compare and select the best Private Medical Insurance company are now covered by International Private Medical Insurance Magazines Online UK Private Medical Insurance company guide.

Get the lowdown on who's who and which Private Medical Insurance companies you should trust with your life. Since 2009 International Private Medical Insurance Magazine has been providing mission critical news and information about UK Private Medical Insurance companies and providers to individual expatriates, expat groups, expatriate employers and Expatriate Health Insurance brokers and intermediaries.

It is important to fully understand UK Private Medical Insurance requirements before you travel and insure you select the right and most appropriate Private Medical Insurance plan and cover for leisure, business, educational or health travel purposes. Private Medical Insurance companies do come in all shapes and sizes so be sure to do a complete comparison of the Private Medical Insurance company, plan, costs and fine print.

Make your Private Medical Insurance plan and company covers you for costs relating to repatriation, emergency evacuation, medical and non medical transport services by ground ambulance or air ambulance.

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Private Medical Insurance Company

Private Medical Insurance Company

You may be a frequent flyer business traveler, student, leisure or medical health tourist considering the Expatriate Life.

Perhaps you are already established as a Expatriate living far from home on distant shores. Where ever you are now, understanding Private Medical Insurance company requirements is vital to safe, risk free Global travel. Accidents do happen and when you least expect it. Insuring you have the right type of Private Medical Insurance plan from the right private medical insurance company will mean, should anything untoward happen, you will not be faced with a large medical bill, or even worse, insufficient medical care.

Expatriates searching the internet to source, compare and select the best Private Medical Insurance company are now covered by International Private Medical Insurance Magazines Online Private Medical Insurance company guide.

Get the lowdown on who's who and which Private Medical Insurance companies you should trust with your life. Since 2009 International Private Medical Insurance Magazine has been providing mission critical news and information about Private Medical Insurance companies and providers to individual expatriates, expat groups, expatriate employers and Expatriate Health Insurance brokers and intermediaries.

It is important to fully understand Private Medical Insurance requirements before you travel and insure you select the right and most appropriate Private Medical Insurance plan and cover for leisure, business, educational or health travel purposes. Private Medical Insurance companies do come in all shapes and sizes so be sure to do a complete comparison of the Private Medical Insurance company, plan, costs and fine print.

Make your Private Medical Insurance plan and company covers you for costs relating to repatriation, emergency evacuation, medical and non medical transport services by ground ambulance or air ambulance.

Read more...

Private Medical Insurance

Private Medical Insurance

You may be a frequent flyer business traveler, student, leisure or medical health tourist considering the Expatriate Life.

Perhaps you are already established as a Expatriate living far from home on distant shores. Where ever you are now, understanding Private Medical Insurance requirements is vital to safe, risk free Global travel. Accidents do happen and when you least expect it. Insuring you have the right type of Private Medical Insurance will mean, should anything untoward happen, you will not be faced with a large medical bill, or even worse, insufficient medical care.

Expatriates searching the internet to source, compare and select the best Private Medical Insurance are now covered by International Private Medical Insurance Magazines Online Private Medical Insurance company guide.

Get the lowdown on who's who and which Private Medical Insurance companies you should trust with your life. Since 2009 International Private Medical Insurance Magazine has been providing mission critical news and information about Private Medical Insurance to individual expatriates, expat groups, expatriate employers and Expatriate Health Insurance brokers and intermediaries.

It is important to fully understand Private Medical Insurance requirements before you travel and insure you select the right and most appropriate Private Medical Insurance plan and cover for leisure, business, educational or health travel purposes. Private Medical Insurance comes in all shapes and sizes so be sure to do a complete comparison of the Private Medical Insurance plan, costs and fine print.

Make your Private Medical Insurance plan covers you for costs relating to repatriation, emergency evacuation, medical and non medical transport services by ground ambulance or air ambulance.

Read more...

International Medical Insurance Broker Intermediary

International Medical Insurance Broker Intermediary

You may be a business traveler, student studying abroad, an expatriate, leisure or medical health tourist searching to source, compare and select the best International Medical Insurance Broker Intermediary. Since 2009 International Private Medical Insurance Magazine has been providing mission critical information about International Medical Insurance Brokers and Intermediaries to individuals, groups, corporate clients, brokers and intermediaries. It is important to fully understand International Medical Insurance requirements before you travel and insure you select the right and most appropriate health and medical insurance plan for leisure, business, educational or health travel purposes. International Medical Insurance Companies comes in all shapes and sizes so be sure to do a complete comparison of the International medical health insurance company, plan, costs and fine print.

International Private Medical Insurance Magazine represents many leading International Medical Insurance Brokers and Intermediaries and operates a worldwide network of underwriters, providers, brokers and intermediaries.

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International Medical Insurance For Schengen Visa

International Medical Insurance For Schengen Visa

You may be a business traveler, student studying abroad, an expatriate, leisure or medical health tourist searching to source, compare and select International Medical Insurance For Schengen Visa travel and countries. Since 2009 International Private Medical Insurance Magazine has been providing mission critical information about International Medical Insurance For Schengen Visa to individuals, groups, corporate clients, brokers and intermediaries. It is important to fully understand Schengen Visa International Medical Insurance requirements before you travel and insure you select the right and most appropriate health and medical insurance plan for travel to countries in the Schengen area.

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Expatriate Health Insurance

Compare Expatriate Health and Medical Insurance Plans, Coverage, Quotes and Companies, with iPMI Magazine. iPMIM represents leading providers of expat medical, health and travel insurance plans. Find the right and most appropriate Expatriate Health Insurance for overseas travel, global mobility and relocation