One of the perceived future benefits of buying insurance online, other than far more individualized policies, faster processing's, more accurate risk assessments and a better overall customer experience is that with the use of digital data, average premiums for individuals will fall. Statista estimates that the overall average cost of online premiums in the life, annuities and payment protection insurance industries will fall by over 10 British pounds between 2018 and 2024.
To learn more about the future of the B2C digital insurance industry in the UK, read our in-depth report.
Estimated average cost online for life, annuities and payment protection insurance premiums in the United Kingdom (UK) from 2018 to 2024
(in GBP)
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Statista. (October 16, 2019). Estimated average cost online for life, annuities and payment protection insurance premiums in the United Kingdom (UK) from 2018 to 2024 (in GBP) [Graph]. In Statista. Retrieved December 21, 2024, from https://www.statista.com/statistics/1060624/average-online-insurance-premiums-written-in-the-united-kingdom/
Statista. "Estimated average cost online for life, annuities and payment protection insurance premiums in the United Kingdom (UK) from 2018 to 2024 (in GBP) ." Chart. October 16, 2019. Statista. Accessed December 21, 2024. https://www.statista.com/statistics/1060624/average-online-insurance-premiums-written-in-the-united-kingdom/
Statista. (2019). Estimated average cost online for life, annuities and payment protection insurance premiums in the United Kingdom (UK) from 2018 to 2024 (in GBP) . Statista. Statista Inc.. Accessed: December 21, 2024. https://www.statista.com/statistics/1060624/average-online-insurance-premiums-written-in-the-united-kingdom/
Statista. "Estimated Average Cost Online for Life, Annuities and Payment Protection Insurance Premiums in The United Kingdom (Uk) from 2018 to 2024 (in Gbp) ." Statista, Statista Inc., 16 Oct 2019, https://www.statista.com/statistics/1060624/average-online-insurance-premiums-written-in-the-united-kingdom/
Statista, Estimated average cost online for life, annuities and payment protection insurance premiums in the United Kingdom (UK) from 2018 to 2024 (in GBP) Statista, https://www.statista.com/statistics/1060624/average-online-insurance-premiums-written-in-the-united-kingdom/ (last visited December 21, 2024)
Estimated average cost online for life, annuities and payment protection insurance premiums in the United Kingdom (UK) from 2018 to 2024 (in GBP) [Graph], Statista, October 16, 2019. [Online]. Available: https://www.statista.com/statistics/1060624/average-online-insurance-premiums-written-in-the-united-kingdom/
