The UK commercial motor insurance market is highly competitive. The market grew slightly in 2015 as a result of economic growth, which boosted business prosperity and therefore investment in commercial vehicles to support business expansion. But with the effects of Brexit looming large, the market is expected to witness slow growth as businesses become more wary of making investments in new commercial vehicles.
-The top 10 insurers account for more than three quarters of the market.
-RSA, Aviva, Allianz, and NFU Mutual have been the top four since 2013.
-NFU Mutual was the most profitable commercial motor insurer among the top 10.
Verdict Financials UK Commercial Motor Insurance: Competitor Dynamics 2016 is part of a series providing a high level look into insurer activity during the last year within commercial motor. Each report looks at the leading players to see how they have performed and how they have changed their overall proposition.
-Benchmark yourself against other players in the market.
-Adapt your proposition to gain competitor advantage.
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