Another year, another depressing set of results for the UK motor market. Once again, insurers struggled to realise a profit on their motor books, besieged on all sides by soft rates, aggregators, and spiralling levels of fraud.
This year, insurers released a record £1bn of reserves to prop up their ailing results.
But surely things will get better one day?
In this special supplement, Insurance Times gazes into the future to ask what the motor industry will look like in 20 years’ time.
• The environmental agenda is still in its infancy as far as motor is concerned, but with new types of transport under development and increasing pressures on the availability of fuel, it is set to transform the market. We ask what the opportunities for the insurance market will be, and look at how some leaders are already beginning to position themselves.
• Aggregators may be all the rage, but with the downwards pressure on price they entail, will insurers continue to support them? We asked the question.
•Fleet has long been an ultra-competitive market, and growing broker Kerry London has come up with solution for the Web 2.0 generation. We spoke to the broker’s chief executive, Paul Samways.
• What’s the picture now? Leading expert, actuary EMB has provided exclusive analysis of this year's motor results especially for this supplement, giving an unrivalled insight into the challenges and motivations behind this year’s numbers
