We have published general insurance (GI) value measures data for 31 insurers (including both UK and EEA firms) for the year ending 31 August 2018.
This follows previous GI value measures data publications in January 2017 and March 2018 covering data for the years ended 31 August 2016 and 2017 respectively.
The pilot data cover claims frequencies, claims acceptance rates and average claim pay-outs. The products covered are home (buildings and contents) insurance, home emergency, personal accident and key cover. The data provide users with a broader range of information to assess firms and product value. The GI add-ons market study[2] found that consumers do not have commonly available indicators of value, and some products were poor value. The publication of data creates incentives for firms to improve product value, with consumers purchasing more suitable products.
We are also consulting on proposals[3] requiring firms to report GI value measures data to us.
Interpreting the data
The data provides firms and other users, such as consumer groups, consumers and market commentators with additional value indicators for GI. Firms will use these data to help assess the value of their insurance products, compare to peers and where appropriate make improvements. We do not expect the data to inform customers’ purchasing decisions. Consumers buying insurance may use the value measures data, but they should also consider factors like prices, product benefits, breadth of cover, excess levels, complaints volumes, average claims settlement periods and product assessment websites.
There may be further information on the data for individual firms on their websites.
When using these value measures data, you should also be aware of the following data limitations:
- The data are aggregated
The value measures data reflect the aggregated data for individual firms and products. The data will reflect the mix of business undertaken by that firm and may not reflect individual distributor or brand arrangements. It may also not represent individual insurance products purchased by different consumers from the same insurer. - The data reflect past performance
The published data relate to the year ending 31 August 2018. The data may vary in subsequent years. This variation may be caused by a variety of factors. For instance, poor weather conditions such as floods or storms can increase both the frequency of claims and claim pay-outs. - Actual claim pay-outs can vary significantly from the average
The average claim pay-outs include payments to policy beneficiaries and other relevant costs incurred by insurers to resolve claims. For example, services provided when dealing with home emergency. These costs will typically be lower than those of an independent tradesperson appointed by a customer in an emergency situation. - Average claims pay-out and claims frequency will be influenced by a variety of factors such as the level and type of cover
Some insurers may predominately sell specialist or high-end products. In this case the sum insured may be considerably higher, resulting in higher claims costs.
Home (combined buildings and contents)
Contracts of insurance against loss or damage to both the structure and contents of domestic properties including cover against risks to the persons insured incurring liabilities to third parties arising out of injuries happening at home. For the purposes of the pilot, this excludes contents-only and buildings-only policies.
Key:
* - data for this firm primarily relate to specialist or high net worth business
| Firm | Claims frequency | Claims acceptance rate | Average claim pay-out |
|---|---|---|---|
| Admiral Insurance (Gibraltar) Limited | 2.5% to 4.9% | 90% to 92.4% | £2,500 to £2,999 |
| Ageas Insurance Limited | 2.5% to 4.9% | 82.5% to 84.9% | £3,500 to £3,999 |
| Allianz Insurance plc | 5% to 7.4% | 92.5% to 94.9% | £3,500 to £3,999 |
| Amtrust Europe Limited | 5% to 7.4% | 92.5% to 94.9% | £3,000 to £3,499 |
| Aviva Insurance Limited | 2.5% to 4.9% | 95% to 97.4% | £3,500 to £3,999 |
| AXA Insurance Uk Plc | 2.5% to 4.9% | 90% to 92.4% | £3,500 to £3,999 |
| Axis Capital/ Novae Syndicates Limited | 2.5% to 4.9% | 90% to 92.4% | £3,500 to £3,999 |
| Brit Syndicates Limited | 7.5% to 9.9% | 80% to 82.4% | £1,500 to £1,999 |
| Canopius Managing Agents Limited | 2.5% to 4.9% | 90% to 92.4% | £5,500 to £5,999 |
| CIS General Insurance Limited | 5% to 7.4% | 87.5% to 89.9% | £3,000 to £3,499 |
| Cornish Mutual Assurance Company Limited | 12.5% to 14.9% | 95% to 97.4% | £2,000 to £2,499 |
| Covea Insurance plc | 2.5% to 4.9% | 90% to 92.4% | £3,500 to £3,999 |
| Ecclesiastical Insurance Office Plc | 10% to 12.4% | 92.5% to 94.9% | £7,500 to £7,999 |
| esure Insurance Limited | 2.5% to 4.9% | 92.5% to 94.9% | £3,500 to £3,999 |
| Great Lakes Insurance SE | 2.5% to 4.9% | 85% to 87.4% | £3,000 to £3,499 |
| Gresham Insurance Company Limited | 5% to 7.4% | 95% to 97.4% | £3,500 to £3,999 |
| Hiscox Insurance Company Limited * | 5% to 7.4% | 95% to 97.4% | £8,000 to £8,499 |
| Legal and General Insurance Limited | 2.5% to 4.9% | 90% to 92.4% | £2,000 to £2,499 |
| Liberty Insurance Limited | 5% to 7.4% | 97.5% to 100% | £4,000 to £4,499 |
| Liverpool Victoria Insurance Company Limited | 2.5% to 4.9% | 92.5% to 94.9% | £4,000 to £4,499 |
| Lloyds Bank General Insurance Limited | 5% to 7.4% | 87.5% to 89.9% | £3,500 to £3,999 |
| Royal & Sun Alliance Insurance Plc | 5% to 7.4% | 97.5% to 100% | £3,000 to £3,499 |
| St Andrew's Insurance Plc | 2.5% to 4.9% | 85% to 87.4% | £6,500 to £6,999 |
| Tesco Underwriting Limited | 2.5% to 4.9% | 87.5% to 89.9% | £1,500 to £1,999 |
| The National Farmers' Union Mutual Insurance Society Limited | 7.5% to 9.9% | 97.5% to 100% | £6,500 to £6,999 |
| The Salvation Army General Insurance Corporation Ltd | 2.5% to 4.9% | 95% to 97.4% | £4,000 to £4,499 |
| UK Insurance Ltd | 5% to 7.4% | 92.5% to 94.9% | £2,500 to £2,999 |
| Zenith Insurance Plc | 5% to 7.4% | 87.5% to 89.9% | £3,500 to £3,999 |
| Zurich Insurance PLC | 5% to 7.4% | 97.5% to 100% | £4,000 to £4,499 |
Home emergency
Contracts of insurance for household assistance. Contracts of insurance with an element of service fall within this category, if they relate to household assistance in class 18 of schedule 1 to the Regulated Activities Order 2001.
Key:
+ – pilot data for this firm reflect the cost of the home emergency. They exclude the cost of the regular boiler service which is usually part of the product for some or all customers.
| Firm | Sales channel | Claims frequency | Claims acceptance rate | Average claims pay-out |
|---|---|---|---|---|
| Admiral Insurance (Gibraltar) Limited | Add-on | 5% to 7.4% | 95% to 97.4% | £180 to £189.9 |
| Ageas Insurance Limited | Add-on | 2.5% to 4.9% | 80% to 82.4% | £130 to £139.9 |
| Amtrust Europe Limited | Add-on | 2.5% to 4.9% | 87.5% to 89.9% | £210 to £219.9 |
| Aviva Insurance Limited | Add-on | 15% to 17.4% | 95% to 97.4% | £130 to £139.9 |
| Brit Syndicates Limited | Add-on | 2.5% to 4.9% | 92.5% to 94.9% | £300 to £309.9 |
| DAS Legal Expenses Insurance Company Limited | Add-on | 2.5% to 4.9% | 95% to 97.4% | £180 to £189.9 |
| Great Lakes Insurance SE | Add-on | 2.5% to 4.9% | 62.5% to 64.9% | £100 to £109.9 |
| Liverpool Victoria Insurance Company Limited | Add-on | 5% to 7.4% | 92.5% to 94.9% | £200 to £209.9 |
| Royal & Sun Alliance Insurance Plc | Add-on | 2.5% to 4.9% | 97.5% to 100% | £250 to £259.9 |
| The National Farmers' Union Mutual Insurance Society Limited | Add-on | 5% to 7.4% | 87.5% to 89.9% | £260 to £269.9 |
| UK Insurance Ltd | Add-on | 7.5% to 9.9% | 97.5% to 100% | £180 to £189.9 |
| Amtrust Europe Limited | Stand-alone | 52.4% to 54.9% | 97.5% to 100% | £110 to £119.9 |
| Aviva Insurance Limited + | Stand-alone | 40% to 42.4% | 97.5% to 100% | £90 to £99.9 |
| British Gas Insurance Limited + | Stand-alone | 95% to 97.4% | 95% to 97.4% | £110 to £119.9 |
| DAS Legal Expenses Insurance Company Limited + | Stand-alone | 27.5% to 29.9% | 95% to 97.4% | £120 to £129.9 |
| Great Lakes Insurance SE + | Stand-alone | 30% to 32.4% | 87.5% to 89.9% | £120 to £129.9 |
| Royal & Sun Alliance Insurance Plc | Stand-alone | 7.5% to 9.9% | 97.5% to 100% | £260 to £269.9 |
| UK Insurance Ltd | Stand-alone | 15% to 17.4% | 97.5% to 100% | £180 to £189.9 |
Personal accident sold as an add-on to motor or home insurance
Contracts of insurance sold as an add-on which fall within classes 1 or 2 of Schedule 1 to the Regulated Activities Order 2001, but are not medical expenses insurance, healthcare cash plans, travel insurance or creditor insurance.
Key: ++ - personal accident data for this firm relates to a motor extended personal accident product.
| Firm | Claims frequency | Claims acceptance rate | Average claims pay-out£ |
|---|---|---|---|
| Admiral Insurance (Gibraltar) Limited | Between 1 in 100 policies and 1 in 250 policies | 95% to 100% | £500 to £999 |
| Ageas Insurance Limited | Between 1 in 100 policies and 1 in 250 policies | 90% to 94.9% | £2,000 to £2,499 |
| Amtrust Europe Limited | Between 1 in 20,000 policies and 1 in 25,000 policies | 80% to 84.9% | £19,000 to £19,499 |
| Aviva Insurance Limited | Between 1 in 10,000 policies and 1 in 15,000 policies | 95% to 100% | £0 to £499 |
| Canopius Managing Agents Limited | Between 1 in 100,000 policies and 1 in 150,000 policies | 95% to 100% | £20,000 to £20,499 |
| esure Insurance Limited | Between 1 in 50,000 policies and 1 in 100,000 policies | 95% to 100% | £40,000 to £44,999 |
| Great Lakes Insurance SE | Between 1 in 1,000 policies and 1 in 2,499 policies | 95% to 100% | £1,500 to £1,999 |
| Liverpool Victoria Insurance Company Limited ++ | Between 1 in 100,000 policies and 1 in 150,000 policies | 95% to 100% | £100,000 to £100,499 |
| Tesco Underwriting Limited | Between 1 in 5,000 policies and 1 in 9,999 policies | 95% to 100% | £22,000 to £22,499 |
| The National Farmers' Union Mutual Insurance Society Limited | Between 1 in 1 policy and 1 in 99 policies | 95% to 100% | £9,000 to £9,499 |
| Zenith Insurance Plc | Between 1 in 500 policies and 1 in 1,000 policies | 90% to 94.9% | £1,000 to £1,499 |
Key cover sold as an add-on to motor insurance
Contracts of insurance sold as an add-on to motor insurance for lost, stolen and/or broken keys.
| Firm | Sales channel | Claims frequency | Claims acceptance rate | Average claims pay-out£ |
|---|---|---|---|---|
| Admiral Insurance (Gibraltar) Limited | Add-on to motor insurance | 2.0% to 2.99% | 90% to 94.9% | £200 to £249 |
| Ageas Insurance Limited | Add-on to motor insurance | 2.0% to 2.99% | 85% to 89.9% | £150 to £199 |
| Amtrust Europe Limited | Add-on to motor insurance | 2.0% to 2.99% | 95% to 100% | £200 to £249 |
| esure Insurance Limited | Add-on to motor insurance | 0.0% to 0.99% | 80% to 84.9% | £300 to £349 |
| Great Lakes Insurance SE | Add-on to motor insurance | 3.0% to 3.99% | 40% to 44.9% | £250 to £299 |
Firms and distributors/brands
For each product in this pilot that the insurers underwrite – the table below sets out the largest 5 distributors or brands for that insurer.
The data provided are the aggregated performance for each insurer and the products that it underwrites. This can include a range of branded products. Where applicable, the top 5 branded products for each insurer have been listed. However, performance information by brand is not provided. This means that the aggregated insurer performance does not necessarily represent the performance of the individual branded products.
| Product | Sales Channel | Firm | Largest 5 dstributors/ brands arrangements |
|---|---|---|---|
| Home | Standalone | Admiral Insurance (Gibraltar) Limited | EUI Limited |
| Home | Standalone | Ageas Insurance Limited | RIAS, Age UK, Connells, Pen Affinity, BGL |
| Home | Standalone | Allianz Insurance plc | Home & Legacy, Cornhill, Paymentshield, F2P, Swinton |
| Home | Standalone | Amtrust Europe Limited | Various brokers, IFA sub brokers, Retail |
| Home | Standalone | Aviva Insurance Limited | Aviva, HSBC, TSB, Quote Me Happy, Santander |
| Home | Standalone | AXA Insurance Uk Plc | AXA Direct, AXA Insurance, Marks & Spencer, Avantia, Countrywide |
| Home | Standalone | Axis Capital/ Novae Syndicates Limited | Direct Group Ltd - Uinsure Home InsuranceGeo Underwriting Services Ltd - Non Standard HomeLambert Limited - AJGIBL - Home InsurancePen Underwriting Limited - E solutions - Pen Home InsuranceINET3 LTD (STANDARD) - Inet3 Magenta Home |
| Home | Standalone | Brit Syndicates Limited | Coast/Park Homes, Rent guard Home and Travel, Provincewide Marsh |
| Home | Standalone | Canopius Managing Agents Limited | Bluefin Insurance Services Ltd, Horizon (UW) Limited, KGM Underwriting Services Ltd, Towergate Underwriting Group Ltd, Plum Underwriting Limited |
| Home | Standalone | CIS General Insurance Limited | Direct, SAGA, AA, Money Supermarket, Post Office |
| Home | Standalone | Cornish Mutual Assurance Company Limited | |
| Home | Standalone | Covea Insurance plc | Swinton, BGL, AA, John Lewis, Saga Services Ltd |
| Home | Standalone | Ecclesiastical Insurance Office Plc | Home & Legacy, B&V, PG Insurance, Alan Boswell, NW Brown |
| Home | Standalone | esure Insurance Limited | esure, Sheilas' Wheels |
| Home | Standalone | Great Lakes Insurance SE | Direct Group Limited, Paymentshield Ltd, Source Insurance, MIS Claims Ltd, Q Metric Group |
| Home | Standalone | Gresham Insurance Company Limited | Finer Woolwich, Barclays, Direct home |
| Home | Standalone | HISCOX Insurance Company Limited | Direct home, 606 |
| Home | Standalone | Legal and General Insurance Limited | Compare the Market, Direct, Swinton, Money Supermarket, BGL |
| Home | Standalone | Liberty Insurance Limited | NI Hughes Home |
| Home | Standalone | Liverpool Victoria Insurance Company Limited | LV= Direct |
| Home | Standalone | Lloyds Bank General Insurance Limited | Lloyds, Halifax, BoS, Pearl, SAGA |
| Home | Standalone | Royal & Sun Alliance Insurance Plc | Nationwide Building Society, Morethan, Paymentshield, John Lewis, Clearchoice |
| Home | Standalone | St Andrew's Insurance Plc | Halifax, Sainsburys, BoS |
| Home | Standalone | Tesco Underwriting Limited | Tesco Bank |
| Home | Standalone | The National Farmers' Union Mutual Insurance Society Limited | NFU Mutual |
| Home | Standalone | The Salvation Army General Insurance Corporation Limited | SAGIC, Alan Boswell, County, Blueshield, Harrison Beaumont |
| Home | Standalone | UK Insurance Ltd | Direct Line, Churchill, Privilege, NatWest, Nationwide |
| Home | Standalone | Zenith Insurance Plc | Fresh Insurance, Quoteline Direct, Insurance Factory Ltd, Aplan, Grove & Dean |
| Home | Standalone | Zurich Insurance PLC | Broker Direct, Zurich Private Clients, Wessex, Endsleigh (Leonardo), PaymentShield |
| Home Emergency | Add-on to home | Admiral Insurance (Gibraltar) Limited | EUI Limited |
| Home Emergency | Add-on to home | Ageas Insurance Limited | Kwik Fit, Castle Cover, Age UK, Virgin Money |
| Home Emergency | Add-on to home | Aviva Insurance Limited | Aviva, HSBC, Santander, Quote Me Happy, Barclays |
| Home Emergency | Add-on to home | Amtrust Europe Limited | Stride Insurance, Computerquote, Fresh Insurance, Higos Insurance |
| Home Emergency | Add-on to home | Brit Syndicates Limited | Endsleigh, Simply Business, Wilsons Insurance Brokers, Lexelle Limited, Arthur J. Gallagher Insurance Brokers Limited |
| Home Emergency | Add-on to home | DAS Legal Expenses Insurance Company Limited | Nationwide Building Society, Towergate, 3XD, A-Plan, Hood Direct Ltd |
| Home Emergency | Add-on to home | Great Lakes Insurance SE | Arc Legal |
| Home Emergency | Add-on to home | Liverpool Victoria Insurance Company Limited | LV= Direct |
| Home Emergency | Add-on to home | Royal & Sun Alliance Insurance Plc | Lloyds, Morethan, Patmentshield, CYBG, Yorkshire Building Society, John Lewis |
| Home Emergency | Add-on to home | UK Insurance Ltd | Churchill, Natwest, Direct Line, RBS, Priv |
| Home Emergency | Add-on to home | The National Farmers' Union Mutual Insurance Society Limited | NFU Mutual |
| Home Emergency | Stand alone | Amtrust Europe Limited | Comparison Creator, GoCompare aggregator |
| Home Emergency | Stand alone | Aviva insurance Limited | HomeServe |
| Home Emergency | Stand alone | British Gas Insurance Limited | |
| Home Emergency | Stand alone | DAS Legal Expenses Insurance Company Limited | British Gas, Sutton and East Surrey Water Services |
| Home Emergency | Stand alone | Great Lakes Insurance SE | Genesis Special Risks Ltd, Legal Insurance Management Limited, QDOS Broker and Underwriting services Ltd, Commerical & General Ltd, Falcon Insuarance Services Ltd, EDF Energy, Phoenix Energy |
| Home Emergency | Stand alone | Royal & Sun Alliance Insurance Plc | Lloyds |
| Home Emergency | Stand alone | UK Insurance Ltd | Direct Line, RBS, Natwest |
| Personal Accident | Add-on | Admiral Insurance (Gibraltar) Limited | EUI Limited |
| Personal Accident | Add-on | Ageas Insurance Limited | RIAS, Kwik-Fit, Ramasis, Devitts, Carole Nash |
| Personal Accident | Add-on | Amtrust Europe Limited | Saga |
| Personal Accident | Add-on | Aviva Insurance Limited | Aviva, Quote Me Happy, General Accident |
| Personal Accident | Add-on | Canopius Managing Agents Limited | Hastings Direct |
| Personal Accident | Add-on | esure Insurance Limited | Esure, Sheilas' Wheels, First Alternative |
| Personal Accident | Add-on | Great Lakes Insurance SE | Auto Legal Protection Services Ltd, Crispin Speers and Partners Limited, Direct Group Limited, Principal Insurance Limited, Qdos Broker and Underwriting |
| Personal Accident | Add-on | Liverpool Victoria Insurance Company Limited | LV= Direct |
| Personal Accident | Add-on | Tesco Underwriting Limited | Tesco Bank |
| Personal Accident | Add-on | The National Farmers' Union Mutual Insurance Society Limited | NFU Mutual |
| Personal Accident | Add-on | Zenith Insurance Plc | 1st Central, AA, Endsleigh, Zurich, Homeserve |
| Key Cover | Add-on to motor insurance | Admiral Insurance (Gibraltar) Limited | EUI Limited |
| Key Cover | Add-on to motor insurance | Ageas Insurance Limited | BGL, Tesco Bank, Aviva, Arthur J Gallagher, Qmetric |
| Key Cover | Add-on to motor insurance | Amtrust Europe Limited | Eldon Insurance Services, GoSkippy, Debanhams |
| Key Cover | Add-on to motor insurance | esure Insurance Limited | Esure, Sheilas' Wheels, First Alternative |
| Key Cover | Add-on to motor insurance | Great Lakes Insurance SE | Motorplus Limited, QDOS Broker and Underwriting Services Ltd, Supercover Ltd, MIS Claims Ltd |
Download the data which include the 2017/2018 comparison[4]
View the 2016 and 2017 comparison data
Definitions
- Sales type
For personal accident and key cover the data reported are for policies sold as a separate policy add-on to home or motor insurance.
Home insurance data are reported as standalone sales for combined buildings and contents policies.
For home emergency insurance the data reported are split between stand-alone sales and policies sold as a separate policy add-on to home or motor insurance. - Claims frequency
How often consumers are claiming on their insurance policies – calculated as the number of claims registered divided by the average number of policies in force. - Claims acceptance rate
How likely claims are to be accepted. This is calculated as the number of claims registered less the number of claims rejected, divided by the number of claims that have been registered. - Average claims pay-out
Average claims pay-out (which could include internal costs, relevant external costs as well as pay-outs to policy beneficiaries).
Read the information request (PDF)[5] and guidance for the 2018 data (covering the year ended 31 August 2018) for further information on the definitions.