London, United Kingdom
8 July 2008

Rating in the UK
General Insurance Market

Table of Contents

Return to report Abstract

Executive Summary 3
Introduction 4
  The Approach for This Report 4
  A Note on Terminology 5
Rules, Underwriting, and Pricing 6
  Rules in the Underwriting Process 6
  The Proliferation of Data Sources 7
  The Role of Pricing in Underwriting 8
  What's in a Price? 9
  The Anatomy of Pricing 9
  Pricing Approaches 10
  Variations of Pricing Models by Sector 10
Evolving Business Pressures 11
  The State of Play Today 11
  The Distribution Landscape 12
  The Financial Impact of Pricing 12
  Complexity as the Key Driver of Change 13
  Complexity 15
The Role of Technology 16
  The Technology for Consideration 16
  The Basis for the Business Case 17
Conclusions 19
 

About Celent

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally experienced analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is part of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

New York - Dana Lautin
dlautin@celent.com
Tel.: +1 646 364 8254

Paris - Muriel de Munck
mdemunck@celent.com
Tel.: +33.1.73.04.46.19

Tokyo - KyongSun Kong
kkong@celent.com
Tel.: +81 3 3596 0020