The Pre-existing medical conditions (PEMC) segment in UK travel insurance is highly competitive, shaped by pricing dynamics, channel strategies, and insurer specialisation. At Consumer Intelligence, we are excited to announce the launch of a new data set that focuses on the PEMC segment within UK Travel Insurance. This data set allows us to delve into pricing data across both the Price Comparison Websites (PCW) and key Direct channels, providing valuable insights for our insurance partners.
Channel Pricing
Our analysis reveals significant differences in pricing between PCW and Direct channels. For instance, PCW offers significantly cheaper premiums on average compared to the key Direct channel. When observing average P1 premiums, PCW offers premiums at £687, whereas Direct channels offer them at £813. This trend continues when expanding to P1-5 premiums, with PCW being £286 cheaper on average.
Direct Channel Insights
Within the Direct channel, several key findings emerged:
- There is a significant P1 share (44%) held by a brand with a pronounced presence among Annual Trip policies. Competitiveness is strong across a select few brands.
- The competitiveness of insurance products varies significantly with age. Interestingly, we observe a variety of brands interchanging their product types (e.g. standard vs. essential) as they quote across different age bandings.
Medical Conditions
Our data set also provides insights into how different products perform for various medical conditions with low, medium, and high scoring:
- Some brands dominate specific medical risk tiers. One brand appears in P1–5 for over 90% of low-score conditions, while another’s basic tier outperforms competitors' comparable products for medium scoring conditions.
- Insurers show a strong appetite across all medical scores, with notable differentiation, unsurprisingly, in product competitiveness by age and condition.
This new data set is a valuable resource for understanding the competitive landscape of UK Travel Insurance, especially for customers with pre-existing medical conditions. We look forward to leveraging these insights to better serve our insurance partners.
Unlock deeper insights into the PEMC segment today
The travel insurance market is evolving rapidly, and staying ahead requires the right data. Our new dataset empowers insurers to better understand channel dynamics, pricing strategies, and medical condition competitiveness.
👉 Get in touch with us to explore how this dataset can support your business goals.
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