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Look Towards A New Future

Aug 12, 2010

Terahertz Systems: Technology and Emerging Markets

Report Summary

Terahertz Systems: Technology and Emerging Markets

Terahertz radiation, that portion of the spectrum between infrared and millimeter waves, generally considered to span 300 GHz to 30 THz, offers unique capabilities compared to other bands. Terahertz radiation is non-ionizing, penetrates many materials that are opaque in the visual spectrum, and suffers less Rayleigh scattering than near-infrared radiation. Today, technologies associated with terahertz radiation have brought about the possibility of opening up an extraordinary range of new markets in this decade.
Thintri Inc
Terahertz radiation interacts with matter generally via the motion of groups of relatively large molecules. Many excitation modes in common materials, such as molecular rotations and vibrations, occur in the terahertz frequency range, opening up the possibility of detecting the signatures of an enormous number of specific chemicals as well as investigating biological processes, which in turn will lead to a range of applications, from environmental and atmospheric sensing to security, medical diagnostics and biological research.

The tremendous versatility of terahertz technology allows it to be used in both imaging and spectroscopic modalities at once. Thus, a terahertz system could not only identify a concealed weapon on an airline passenger, it could at the same time identify a material carried by that same passenger and distinguish between an explosive and a harmless cosmetic.

Terahertz technology has been promoted for an astonishingly wide range of applications:

  • Food: food inspection for spoilage and contamination, determining the water content of food
  • Biomedicine: mammography, bone tomography, endoscopy, medical diagnostics, detection of skin cancer and other diseases, identification of drugs or other substances in the blood, genetic sequencing
  • Security and defense: detection of concealed weapons and explosives; evaluation of biological threats; seeing through sandstorms on the battlefield; and airline passenger screening and detection of contraband, either in luggage, shipping containers, or hidden in people’s clothing or in the mail
  • Imaging: imaging the contents of packages, sealed documents or closed books, fossils or oil encased in rock
  • Scientific: environmental sensing and pollution detection, Earth remote sensing, plasma diagnostics, chemistry and biochemistry
  • And many more.

Growth of markets has been hobbled by lack of funding for technology development, as well as early hype of the capability terahertz systems, before the technology was ready for real-world applications and when it faced significant technical obstacles. Consequently, some early adopters were disappointed in their investments and have soured on terahertz technology in general. Even some companies involved in development of terahertz technology have soured on the field due to a perceived lack of market-readiness or interest by potential customers.

Today, robust, relatively inexpensive and even portable terahertz systems are available commercially, suitable for many of the high profile applications discussed in the report. Industry players are preparing to enter astonishingly varied markets, from security to medicine to manufacturing process control to wireless communications and others.

However, the terahertz industry and its potential customers have become much more polarized since the 2007 report. Where before, a cautious optimism pervaded most developers and many of those considering the use of such systems, while skeptics differed on the timing and likelihood of certain developments, today, the range between industry promoters and skeptics has grown considerably. The advent of robust, high performance systems, ready to address some of the most promising and demanding applications, and the optimism of their developers, is sharply at odds with the pessimistic outlook by others, including some participants in the terahertz industry itself, that projects little opportunity for terahertz systems outside of niche applications.

Looking at the industry as a whole, there is little doubt that terahertz technology is poised to move into substantial markets in the next few years. Already, commercial systems are in use for security screening, to inspect pharmaceutical and other products for defects while already packaged, to monitor manufacturing processes or to check materials like the insulating foam on the Space Shuttle for flaws. Clinical trials for detection of cancer with terahertz systems are underway. How many of these applications will actually lead to growth markets is uncertain; chances are, not all will. However, given the extraordinary breadth and potential volumes of these markets, and the unique ability of terahertz technology to address fundamental issues in these markets, a conservative bet is that at least several of these markets will take off. The question is, which ones? Ultimately the answer will depend on a combination of factors that include application and market development, customer awareness and education, and evolution of technology.

The terahertz industry certainly needs to continue development of hardware, but more importantly, the time has arrived for development of applications and customer education. Systems are commercially available that are capable of taking on many of the high profile applications discussed in this report, but the case needs to be made for potential buyers to justify their investment. Significant markets are within reach, if the applications are properly developed and the capabilities of terahertz technology are made known.

As it is, however, systems now available are sufficiently robust and capable of performing in real world applications. Industry participants indicate that a number of companies in materials, manufacturing, food processing and pharmaceuticals are now evaluating terahertz systems. Consequently, market opportunities within the decade are quite promising.

This report, based on interviews with a wide range of terahertz experts, provides a rough consensus among business development and marketing executives as well as researchers in government and the academic community, to assess which applications and markets are likely to be viable, and which aren’t. Market forecasts bracketed by optimistic and conservative estimates are provided for the years 2015 and 2020.

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Homewares in Europe

Report Summary
Datamonitor's Homewares in Europe industry profile is an essential resource for top-level data and analysis covering the Homewares industry. It includes data on market size and segmentation, plus textual and graphical analysis of the key trends and competitive landscape, leading companies and demographic information.

http://www.reportsandreports.com/market-reports/homewares-in-europe/

Scope

  • Contains an executive summary and data on value, volume and/or segmentation
  • Provides textual analysis of Homewares in Europe’s recent performance and future prospects
  • Incorporates in-depth five forces competitive environment analysis and scorecards
  • Includes a five-year forecast of Homewares in Europe
  • The leading companies are profiled with supporting key financial metrics
  • Supported by the key macroeconomic and demographic data affecting the market

Highlights
  • Detailed information is included on market size, measured by value and/or volume
  • Five forces scorecards provide an accessible yet in depth view of the market’s competitive landscape
Why you should buy this report
  • Spot future trends and developments
  • Inform your business decisions
  • Add weight to presentations and marketing materials
  • Save time carrying out entry-level research
Market Definition
The homewares market includes the following segments: home hardware, lighting, textiles and soft furnishings, and window dressings. Home hardware includes the sale of crockery, cutlery, glassware, home cleaning, home storage, ironing boards, kitchen utensils, rubbish bins and other home hardware like household scales and other mechanical devices. Lighting includes the sale of lamp shades, light/lamp stands, light bulbs, and table and desk lamps. Textiles and soft furnishings include the sale of bathroom textiles, beddings, cushions, futons, hammocks, mattresses, table linen and other textile and soft furnishings like clothing and furniture coverings, door mats, laundry bags, parasols, shoe bags and shopping bags. Window dressings include the sale of blinds, curtain poles, rails, curtains and hooks. The market is valued at retail selling prices with any currency conversions calculated using constant annual average 2009 exchange rates.

For the purposes of this report, Europe consists of Western Europe and Eastern Europe.
Western Europe comprises Belgium, Denmark, France, Germany, Italy, the Netherlands, Norway, Spain, Sweden, and the United Kingdom.

Eastern Europe comprises the Czech Republic, Hungary, Poland, Romania, Russia, and Ukraine.

TABLE OF CONTENTS
EXECUTIVE SUMMARY 2
MARKET OVERVIEW 7
Market definition 7
Research highlights 8
Market analysis 9
MARKET VALUE 10
MARKET SEGMENTATION I 11
MARKET SEGMENTATION II 12
FIVE FORCES ANALYSIS 13
Summary 13
Buyer power 14
Supplier power 15
New entrants 16
Substitutes 17
Rivalry 18
LEADING COMPANIES 19
Conforama Holding SA 19
IKEA Group 20
Leroy Merlin SA 22
Villeroy & Boch Aktiengesellschaft 23
MARKET DISTRIBUTION 27
MARKET FORECASTS 28
Market value forecast 28
APPENDIX 29
Methodology 29
Industry associations 30
Related Datamonitor research 30
Disclaimer 31
ABOUT DATAMONITOR 32
Premium Reports 32
Summary Reports 32
Datamonitor consulting 32

LIST OF TABLES
Table 1: Europe homewares market value: $ billion, 2005–09 10
Table 2: Europe homewares market segmentation I:% share, by value, 2009 11
Table 3: Europe homewares market segmentation II: % share, by value, 2009 12
Table 4: Conforama Holding SA: key facts 19
Table 5: IKEA Group: key facts 20
Table 6: Leroy Merlin SA: key facts 22
Table 7: Villeroy & Boch Aktiengesellschaft: key facts 23
Table 8: Villeroy & Boch Aktiengesellschaft: key financials ($) 24
Table 9: Villeroy & Boch Aktiengesellschaft: key financials (€) 24
Table 10: Villeroy & Boch Aktiengesellschaft: key financial ratios 25
Table 11: Europe homewares market distribution: % share, by value, 2009 27
Table 12: Europe homewares market value forecast: $ billion, 2009–14 28

LIST OF FIGURES
Figure 1: Europe homewares market value: $ billion, 2005–09 10
Figure 2: Europe homewares market segmentation I:% share, by value, 2009 11
Figure 3: Europe homewares market segmentation II: % share, by value, 2009 12
Figure 4: Forces driving competition in the homewares market in Europe, 2009 13
Figure 5: Drivers of buyer power in the homewares market in Europe, 2009 14
Figure 6: Drivers of supplier power in the homewares market in Europe, 2009 15
Figure 7: Factors influencing the likelihood of new entrants in the homewares market in Europe, 2009 16
Figure 8: Factors influencing the threat of substitutes in the homewares market in Europe, 2009 17
Figure 9: Drivers of degree of rivalry in the homewares market in Europe, 2009 18
Figure 10: Villeroy & Boch Aktiengesellschaft: revenues & profitability 25
Figure 11: Villeroy & Boch Aktiengesellschaft: assets & liabilities 26
Figure 12: Europe homewares market distribution: % share, by value, 2009 27
Figure 13: Europe homewares market value forecast: $ billion, 2009–14 28

Aug 11, 2010

Stakeholder Opinions: Ovarian Cancer - Approaching the era of molecular targeted therapy now available at ReportsandReports

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Despite advances in the management of the disease, outcomes remain poor for patients with advanced epithelial ovarian cancer. The high level of unmet need, coupled with the large size of the patient population, is driving extensive R&D interest in this indication. The anticipated incorporation of molecular targeted therapies into treatment is expected to improve patient outcomes in the future.

Scope

  • Ovarian cancer overview, including disease definition, epidemiology, discussion of unmet needs, and market potential
  • Current treatment options for ovarian cancer and ongoing controversies
  • Examination of the late-phase ovarian cancer pipeline, including drug profiles of late-stage agents
  • Stakeholder opinions based on qualitative interviews with key opinion leaders from the US and EU

Highlights

Ovarian cancer is the leading cause of death from gynecological malignancies in the Western world. This is because the majority of epithelial ovarian cancer patients present with advanced disease at diagnosis, where treatment has a palliative rather than curative intent.

While first-line platinum-based chemotherapy can result in high response rates of over 70-80%, the majority of patients will advanced epithelial ovarian cancer will eventually relapse with incurable disease. As such, there is a need for novel first-line therapies to improve survival rates.

R&D interest in ovarian cancer is high. There are currently 85 drugs in the pipeline, which is dominated by molecular targeted therapies (42%) and cytotoxic therapies (33%). Competition for the approval of the first molecular targeted therapy in ovarian cancer is fierce.

Reasons to Purchase

  • Estimate the number of treatable patients and identify unmet needs for future drug development opportunities
  • Understand the current treatment of the disease, as well as opportunities and threats in the ovarian cancer market
  • Analyze the current ovarian cancer pipeline and the potential of late-stage drugs

Table Of contents

Overview

Catalyst 1

Summary 1

About Datamonitor healthcare 2

About the Oncology pharmaceutical analysis team 2

Executive Summary 3

Scope of the analysis 3

Datamonitor insight into the ovarian cancer market 3

Related reports 4

Upcoming reports 4

Table of Contents 5

Patient Potential 6

Key findings 6

Definition 6

Epithelial tumors 7

The vast majority of ovarian cancers are epithelial in origin 7

The majority of epithelial ovarian cancers are sporadic in nature 8

Germ cell tumors 8

Sex cord-stromal tumors 8

A successful screening test for ovarian cancer has not been developed 8

Ovarian cancer is a surgically staged malignancy 9

Epidemiology 12

The incidence of ovarian cancer in the seven major markets is forecast to reach nearly 63,000 cases by 2019 12

The highest ovarian cancer rates prevail in Northern European countries 14

Current treatment options 15

Most early-stage patients are treated with surgery and chemotherapy 15

Surgery has a central role in the management of advanced disease 16

First-line platinum-based chemotherapy is the standard of care for advanced disease 17

The use of intraperitoneal chemotherapy remains controversial 20

Maintenance therapy has not been shown to improve overall survival 21

The treatment of recurrent disease is rarely curative and depends on patients’ platinum sensitivity 22

Platinum-based combination chemotherapy is recommended for platinum-sensitive recurrent disease 23

A number of single agents can be used in the treatment of platinum-resistant recurrent disease 25

Unmet need 25

More effective agents are required for the treatment of advanced disease 25

An effective screening test could significantly improve patient survival 26

R&D efforts should be directed towards molecular targeted therapies 26

Less invasive surgical approaches should be explored for early-stage patients 27

Market potential 28

Key findings 28

Current market overview 28

Opportunities and threats 29

Opportunities 29

Significant unmet need remains in the treatment of advanced disease 29

There is increased interest in the development of molecular targeted therapies 30

There is a large patient base in ovarian cancer, and a high commercial attractiveness 30

Threats 30

The development of an effective screening modality could decrease the patient base 30

Pipeline Analysis 31

Key findings 31

Ovarian cancer pipeline overview 31

Ovarian cancer late-phase pipeline 37

Avastin (bevacizumab; Genentech/Roche/Chugai) 37

Drug profile 37

Development overview 38

Product positioning 41

SWOT analysis 42

Karenitecin (cositecan; BNP-1350; BioNumerik) 43

Drug profile 43

Development overview 44

Product positioning 46

SWOT analysis 47

Opaxio (paclitaxel poliglumex; Cell Therapeutics/Novartis) 47

Drug profile 48

Development overview 48

Product positioning 49

SWOT analysis 50

Paclical (micellar paclitaxel formulation; Oasmia) 52

Drug profile 52

Development overview 52

Product positioning 53

SWOT analysis 54

Tarceva (erlotinib; Genentech/Roche/Chugai/OSI) 55

Drug profile 55

Development overview 55

Product positioning 58

SWOT analysis 59

Vargatef (intedanib; BIBF-1120; Boehringer Ingelheim) 60

Drug profile 60

Development overview 61

Product positioning 62

SWOT analysis 63

Votrient (pazopanib; GlaxoSmithKline) 63

Drug profile 63

Development overview 64

Product positioning 67

SWOT analysis 68

Farletuzumab (MORAb-003; Morphotek/Eisai) 69

Drug profile 69

Development overview 70

Product positioning 73

SWOT analysis 74

Abagovomab (Menarini/Cell Control Biomedical) 74

Drug profile 74

Development overview 75

Product positioning 77

SWOT analysis 77

Bibliography 79

Journals 79

Websites 84

Datamonitor reports 86

Appendix

Contributing experts 87

Report methodology 87

About Datamonitor 87

About Datamonitor Healthcare 87

About the Oncology analysis team 88

Disclaimer 90

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Reports and Reports comprises an online library of 10,000 reports, in-depth market research studies of over 5000 micro markets, and 25 industry specific websites. Our client list boasts almost all well-known publishers of such reports across the globe. We as a third-party reseller of market research reports employ a number of marketing tools, such as press releases, email-marketing and effective search-engine optimization techniques to drive revenues for our clients. We also provide 24/7 online and offline support service to our customers.

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Survey of Diethyl Maleate in China 2010 now available at ReportsandReports

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China has been producing diethyl maleate for several years, but the market is not very flourishing at present. In order to provide a completed picture for DEM industry in China, this report has described the overall production, raw materials, price, consumption, major end users and export of diethyl maleate. Besides, the active manufacturers and end users are also listed.

In this report, you can easily find out:

  • What’s the current production status of diethyl maleate in China?
  • What’s the future prospect of diethyl maleate with shrinking malathion market?
  • Is there any new demand from downstream industries?
  • Who may be your potential competitors?
  • Who may be your potential business partners?
  • Who may be your potential clients?
  • Which countries consume diethyl maleate?

Table Of contents

I Brief introduction to diethyl maleate in China

I-1 Overview of current diethyl maleate production

I-2 Summary of diethyl maleate manufacturers

I-3 Price

I-4 Consumption

II Export situation of diethyl maleate in 2008 (Jan.- Dec)

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About Us:
Reports and Reports comprises an online library of 10,000 reports, in-depth market research studies of over 5000 micro markets, and 25 industry specific websites. Our client list boasts almost all well-known publishers of such reports across the globe. We as a third-party reseller of market research reports employ a number of marketing tools, such as press releases, email-marketing and effective search-engine optimization techniques to drive revenues for our clients. We also provide 24/7 online and offline support service to our customers.

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Legal Outsourcing: Current Market Trends now available at ReportsandReports

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The stage is now set for a dramatic acceleration in legal outsourcing, due primarily to the increasing pressure for cost reduction and flexibility which is driving a significant shift from tactical project-based outsourcing offshore (Legal Process Outsourcing) towards wider and more strategic long-term sourcing relationships (Legal Service Outsourcing).

Scope

  • Provides a detailed analysis of the legal outsourcing market structure, market dynamics and evolving legal outsourcing models for LPO and LSO.
  • Based on structured interviews with senior partners across the Top 30 major law firms at the heart of the legal outsourcing market.

Highlights

Unlike many other in-house functions, the legal function has already outsourced the majority of its activity and spend some 80%. But this has so far been on a very conventional professional services model rather than an end-to-end outsourced basis.

The market pressures and new operating models being adopted by enterprise legal functions are having a dramatic influence on the environment for the major law firms who serve them. All major law firms are experiencing an unprecedented level of significant sustained pressure on fee rates and most have suffered a reduction in business volumes.

A number of clear brand leaders are now emerging and converging to offer a full spectrum of LPO services. The majority of new LPO business from both law firms and enterprise legal functions – is now tending to go to these emerging brand leaders and their relative position is therefore likely to strengthen.

Reasons to Purchase

  • Includes estimates of the current and ultimate size of the LPO and LSO markets together with predicted market growth rates over the next two years.
  • Analyses how enterprise legal functions, major law firms and offshore LPO providers are developing alternative delivery and commercial models.
  • Provides detailed advice for enterprises and legal firms on the ‘outsourceability’ of various legal processes.

Table Of contents

Overview

Catalyst 2

Summary 2

Methodology 2

Executive Summary 4

Legal outsourcing market set for a dramatic acceleration 4

Customer-driven quantification of market trends, sizes and growth 4

Table of Contents 6

Table of Figures 7

Table of Tables 8

Market Structure 9

The primary market players: enterprise legal functions, law firms and LPO providers 9

Enterprise legal functions 9

Major law firms 9

Offshore LPO providers 10

Three different models for legal outsourcing: conventional, LPO and now LSO 11

Activity flows with the legal outsourcing market 13

Market Drivers and Responses 16

Enterprise legal functions are under real business pressure for transformation 16

Major law firms are now starting to adopt new operating models in earnest 18

Offshore LPO providers are consolidating and extending their service offerings 20

Evolving Outsourcing Models 21

A major shift from tactical to strategic LPO 21

LPO is spreading steadily up the value levels 22

Understanding the linkage between value level and ‘outsourceability’ 23

The emerging legal services outsourcing model 26

Global Market Size And Growth Rates 28

Orbys’ approach to assessment of market size and prediction of market growth rates 28

Conditions are right for exceptional market growth: the ‘perfect storm’ 28

Special factors for legal outsourcing may well hamper natural growth 29

Rapid growth is predicted for both LPO and LSO over the next two years 30

The LSO market will fuel additional growth in the LPO market 33

The LPO and LSO markets have significant further growth potential 34

Conclusions 36

Legal outsourcing state of the market 36

APPENDIX

LPO market size assessments and growth rate predictions 38

LSO market size assessments and growth rate predictions 41

Comparison of LPO and LSO market size assessments and growth rate predictions 42

Further reading 43

Ask the analyst 43

Orbys consulting 43

Disclaimer 43

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About Us:
Reports and Reports comprises an online library of 10,000 reports, in-depth market research studies of over 5000 micro markets, and 25 industry specific websites. Our client list boasts almost all well-known publishers of such reports across the globe. We as a third-party reseller of market research reports employ a number of marketing tools, such as press releases, email-marketing and effective search-engine optimization techniques to drive revenues for our clients. We also provide 24/7 online and offline support service to our customers.

Contact:
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7557 Rambler road,
Suite 727, Dallas, TX 75231
Tel: +1-888-989-8004
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Whither OTC Markets after the Crisis? Implications for Tech Vendors now available at ReportsandReports

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As a result of the global financial crisis governments and regulators demand greater transparency in OTC markets through central clearing and even trading on exchanges. Ovum considers the implications for suppliers of technology.

Scope

  • Capital markets
  • Non-exchange-traded assets

Highlights

The markets in instruments traded over the counter (OTC) rather than on exchanges are undergoing major changes, as regulators and legislators seek to promote increased transparency in the wake of a global financial crisis which they attribute to these same products.

Reasons to Purchase

  • Gain an insight into how regulators are looking to drive more transparency in OTC markets.
  • See what are the technology challenges faced if more OTC instruments are to be centrally cleared.

Table Of contents

SUMMARY

Catalyst 1

Ovum view 1

Key messages 2

Asset-backed securities are seen as the source of the latest crisis 2

Regulatory efforts now extend beyond collateralized debt obligations 2

Sponsored access is also in the authorities’ line of fire 2

OTC derivatives clearing attracts incumbent clearers and new entrants 2

CCP interoperability will become even more important 2

The essence of clearing is risk management 2

For market participants, better reporting capabilities will be essential 2

TABLE OF CONTENT

MARKET ConTEXT: The crisis sparks calls for transparency in otc markets 4

Asset-backed securities are seen as the source of the latest crisis 4

business Focus: regulators want clearing for multiple derivative types 5

Regulatory efforts now extend beyond CDOs 5

Sponsored access is also in the authorities’ line of fire 7

Final legislation is still some way off 8

The role of CCPs is to reduce risk 8

Some OTC instruments already undergo clearing 8

CDS clearing is underway 8

OTC derivatives clearing attracts incumbent clearers and new entrants 9

CCP interoperability will become even more important 10

Technology FOCUS: better risk management will be a requirement 13

The essence of clearing is risk management 13

For market participants, better reporting capabilities will be essential 14

RECOMMENDATIONS 14

Recommendations for enterprises 14

Consider third party software 15

Look at SaaS 15

Recommendations for vendors 15

Connectivity vendors should pitch higher bandwidths 15

Systems vendors should focus on scalability and automation 15

Risk management vendors have opportunities across the board 16

Alternative views 16

APPENDIX

Ask the analyst 17

Definitions 17

ABS 17

CCP 17

CDO 17

CDS 18

Central securities depository 18

CFTC 18

Code of Conduct for Clearing and Settlement 18

Dark pools 19

Derivative 19

Exchange-traded 19

FX 20

FX Spot• 20

FX Forwards• 20

FX Futures• 20

FX Swaps• 20

FX Options• 20

IRS 20

Liquidity 21

Novation 21

OTC 21

Further reading 21

Disclaimer 22

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About Us:
Reports and Reports comprises an online library of 10,000 reports, in-depth market research studies of over 5000 micro markets, and 25 industry specific websites. Our client list boasts almost all well-known publishers of such reports across the globe. We as a third-party reseller of market research reports employ a number of marketing tools, such as press releases, email-marketing and effective search-engine optimization techniques to drive revenues for our clients. We also provide 24/7 online and offline support service to our customers.

Contact:
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Tel: +1-888-989-8004
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Uncertain Times for the European Consumer: Financial choices under pressure now available at ReportsandReports

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Turbulent economic conditions in Europe have exposed consumers to uncertainty as to what the future holds. This has important implications for financial services (FS) providers and their client interactions.

Scope

  • The report discusses the economic events influencing the European consumer and the likely effects on their product and provider choices
  • Extensive secondary research allows detailed analysis as to the opportunities presented by the recovering European consumer.

Highlights

The recently established Office for Budgetary Responsibility (OBR) has estimated that the UK national debt will peak at 70.3% of GDP in 201314, reduced as a result of the cuts made in the recent budget.

Cash-strapped governments will be limited in the support that they can offer. It therefore rests on consumers to seek private means to protect themselves and FS providers to convince consumers of the gravity of this need.

European consumers will continue to seek to minimize uncertainty in 2010 through tighter control on what they can influence. They are attempting to increase their knowledge and understanding but FS providers must meet them halfway.

Reasons to Purchase

  • Understand the economic uncertainty and drivers of policy impacting the European market.
  • Understand how these events will influence the decision making of consumers, now and in the future.
  • The report provides insight into the opportunities presented by the changing European climate for FS providers

Table of Content

Overview

Catalyst

Summary

Methodology

Table of Contents

Table of figures

Table of tables

Uncertain Economic Climate

Introduction

TREND: National debt will limit future economic growth in Europe

The European debt situation is a serious threat to a global recovery

The Greek debt situation threatened to boil over into a full blown crisis at the beginning of 2010

A major component of the Greek debt threat was the risk of contagion with other major economies

The rescue package has relieved many market concerns but comes at a cost

Some economists believe that the threat to the eurozone is not yet over

Returning debt to manageable levels will be a lengthy and potentially painful process

The magnitude of public debt is higher than that which could be solved by economic growth alone

The impact on growth is somewhat ambiguous but the cuts will still be felt by consumers

TREND: Monetary policy will be tightened as inflationary pressure increases

Consumers have seen record lows in central bank interest rates but this will change as the recovery gains pace

Expectations of inflation may well rise if monetary policy is mistimed

Monetary policy in the UK provides a particular challenge, with rising inflation expectations and a fragile recovery

Monetary policy surprises may well reveal vulnerabilities in the EU banking sector

There remains sizeable variation in the finances and economies of European countries

The UK must be careful not to ignite inflation in a still weak economic recovery

France looks to 2011 before freezing public sector spending

Germany’s finances are in better shape than its neighbors’ but action is still needed

Italy aims to bring its mammoth national debt under control and currently retains the market’s confidence

The Netherlands will see its public finances stagnate in 2010 before strengthening in 2011, depending on the political balance of power

Spanish unemployment is nearing one in five and is not set to improve until 2011

Sweden suffered a tough recession but is set to recover quickly, with a relatively light fiscal burden

THE CONSUMER RESPONSE

The uncertain climate will create opportunities for FS consumers

INSIGHT: Confused consumers will need guidance, particularly in a changing savings and investments landscape

The savings and investment environment will be in flux as savings accounts move in sync with central bank rates and incentives change to align with new tax regimes

ACTION POINT: Better access to advice should be a priority for both the public and private sector

INSIGHT: Consumers must be made to understand that bank lending will remain constrained

INSIGHT: Mortgage competition could heat up as consumers reconsider the value of their standard variable rates

ACTION POINT: Uncapped SVRs are coming into more use as mortgage lenders protect themselves from future low interest rate regimes

INSIGHT: Pensions providers must stress the importance of private pension income

Consumers need to be made aware that they are responsible for looking after themselves in retirement

ACTION POINT: Pension provision must be simplified to make a clear solution apparent to consumers

INSIGHT: European consumers will seek simple products that protect them against potential risks in these uncertain times

Consumer watchdogs which expose complicated superfluous products will encourage consumers to stick to what they know

ACTION POINT: Product presentation has never been more important as consumers are not willing to invest significant time in understanding the prospective offerings

Scarcity of information can dissuade the jittery European consumer

INSIGHT: Insurance providers should step into the gap left by a depleted state presence

Income protection and mortgage payment protection could provide consumers with a support structure should the worst occur

Private health insurance products may appeal as waiting times are likely to increase with government cuts beginning in earnest

Healthcare cash plans could be an attractive outlet for increased concern over medical provision

ACTION POINT: The importance of ‘taking care of yourself’ must be highlighted

APPENDIX

Methodology

Further reading

Secondary sources

Ask the analyst

Datamonitor consulting

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UK Commercial Insurance Distribution 2010 now available at ReportsandReports

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Introduction

This report gives a comprehensive analysis of distribution in the UK commercial insurance market. It explores issues including the growth of direct insurers in commercial insurance and the acquisitions occurring between commercial insurance brokers. The report also includes data and insight on SMEs’ purchasing behavior, broker consolidation and the latest activity of the managing general agents.

Scope

  • Insight into the latest issues affecting the commercial insurance market and the impact these are having on distribution.
  • The latest data on SMEs’ purchasing behavior, managing general agents and broker consolidation in the UK commercial insurance market.
  • The latest data on the size of the commercial insurance market and GWP splits by distribution channel.
  • Forecasts up to 2014 of the market share of different channels in the UK commercial insurance space.

Highlights

SMEs have been generally loyal to their commercial insurance providers, most commonly maintaining the relationship for two to five years. However, SMEs were perhaps expectedly motivated to stay or leave their provider according to price, implying a high level of potential churn in that sector.

For the past year, broker networks have continued to acquire regional brokers in a bid to increase their market share and improve their regional coverage. According to Datamonitor’s commercial insurance broker survey, 45.7% of commercial brokers are part of a broker network or club.

A number of insurers withdrew capacity from managing general agents (MGAs) in H1 2009 but the total number of MGAs is set to increase. The cost efficiency and penetration into niche markets are benefits many insurers are keen to exploit and as such major players such as Giles have been forming new MGAs.

Reasons to Purchase

  • Understand issues affecting the commercial insurance market such as the promiscuity of SMEs, potential growth of MGAs and channel preferences.
  • Understand the future level of consolidation in the sector and the companies which are most likely to drive this consolidation.
  • Gain insight into the prevalent broker network model, factors driving the model and why the direct and affinity channels are of increasing importance.

Table of Content

Overview

Catalyst

Summary

Executive Summary

Total general insurance GWP declined in 2006

Brokers continued to dominate the distribution of commercial insurance

National brokers have lost distribution market share to the direct channel, chain brokers and telebrokers

Larger companies are more likely to have switched brokers between 2006 and 2007

Companies with a large turnover are more likely to switch broker

The market saw a number of mergers and acquisitions, many involving brokers

The broker channel is dominant in UK commercial insurance distribution, however its share of the market is declining

Brokers are forecast to see a 1% decline in market share between 2007 and 2011

Table of Contents

Table of figures

Table of tables

Introduction

What is this report about?

Who is the target reader?

How to use this report?

Market Context

Introduction

Total general insurance GWP declined in 2006

The motor insurance market recorded its fourth consecutive year of decline

Property insurance GWP rose very slightly in 2006

General liability recorded a significant fall in GWP

Accident and health was the only business line to record strong growth

Pecuniary loss GWP fell by 3.2%

The general liability, commercial property, commercial motor and pecuniary loss markets recorded a fall in GWP in 2006

The UK business parc is continuing to grow steadily with most of the impetus coming from the smallest firms

The majority of UK businesses have no employees

Distribution Dynamics

Introduction

Brokers continued to dominate the distribution of commercial insurance

National brokers have lost distribution market share to the direct channel, chain brokers and telebrokers

The direct channel increased its share of commercial insurance GWP by 1% in 2006

Affinity groups remain a small channel for the distribution of commercial insurance

Banks and building societies continue to play a small role in the distribution of commercial insurance

Organic growth remains a key strategy for brokers, although broker acquisitions remain popular

Brokers are keen to pursue organic growth

More than one fifth of the brokers surveyed have acquired a fellow broker

More than a third of brokers surveyed are considering planning an acquisition in the next 12 to 18 months

Increasing premium turnover and regional growth are the key motivations for planning a broker acquisition

The broker network model remains popular as many brokers wish to gain access to a larger panel of insurers

Over a third of brokers are part of a broker network

Many brokers joined a broker network to gain access to a larger panel of insurers

The proportion of brokers considering joining a broker network has decreased since the H1 2007 survey

Customer Focus

Introduction

Larger companies are more likely to have switched brokers between 2006 and 2007 while Jardine Lloyd Thompson performed well in terms of acquisition and retention

Companies with a large turnover are more likely to switch broker

Commercial clients are more likely to switch from a multinational than any other intermediary but overall those who switch are more likely to move to a smaller broker

Jardine Lloyd Thompson leads the pack in successfully acquiring and retaining customers, with Willis a close second, whilst Marsh and Aon in particular suffered negative net retention

Aon was the largest net loser of clients between 2006-7, shedding clients to brokers from both within and outside the top four

SMEs buy mainly through brokers and long-term relationships are the norm

In general SMEs are content with their insurance providers and satisfaction levels remain high

Retention levels among SMEs remain high with most staying with their provider for longer than two years

Almost 90% of SMEs are not considering a change of provider in the next year

A small group of SMEs are willing to switch provider in search of lower prices

Only 16 per cent of SMEs have changed insurance provider in the last two years

Premium costs are particularly a concern for those that have switched recently

One in 10 SMEs are considering switching their insurance provider in the next 12 months

Recent switchers show lower loyalty levels than other SMEs

Price is the dominant concern for potential switchers

Most SMEs would approach a broker if switching but some are open to alternatives

Brokers remain the top choice for SMEs to approach if they had to switch provider

Many SMEs are willing to consider alternative channels when prompted

Up to 44% of SMEs would consider using a bank as an insurance provider

Almost three quarters of SMEs would be willing to consider direct insurers, in the hope of cost savings

Many SMEs are open to purchasing insurance by telephone

Even more SMEs are willing to buy their insurance via the Internet, showing the potential of this platform

Commercial motor and property insurance are most likely to be purchased through alternative platforms

Alternative distribution channels face a number of challenges in attracting switchers

A core group of SMEs will not buy direct, as they believe that direct insurers are more expensive

Brand awareness in the commercial sector remains low, hampering progress for direct insurers

Over 50% of SME will not consider buying from bancassurers

Direct insurers and bancassurers also have to overcome the unwillingness of some SMEs to buy by telephone or Internet

Two thirds of SMEs consider purchasing commercial general insurance too complex for the telephone

A majority of SMEs view commercial general insurance as too complex for the Internet

Competitive Dynamics

Introduction

The market saw a number of mergers and acquisitions, many involving brokers

AXA acquired numerous commercial brokers in 2007, reinforcing its position in the SME sector

Groupama acquired a majority stake in Lark Group in August 2007

Direct Line began to offer business insurance in 2007

Equity Insurance Group recorded a large number of small-scale acquisitions

Towergate continued to acquire numerous brokers in 2007

Other brokers acquiring included Jelf, Giles, Broker Network and Oval

The top ten brokers have a market share of 96% of client turnover

The greater the turnover, the greater the market share of the multinational brokers

Of the companies in Datamonitor’s Insurance Broker Database, 22 arranged their insurance in-house

Aon acquired Footman James in 2007 and is looking to improve its claims process

Aon to use InterResolve to revolutionize claims process

Aon acquired specialist motor insurance broker Footman James in 2007

Willis is planning to grow its SME business and introduced a new commission structure in 2007

Willis aims to grow its UK SME business

Willis alters remuneration package by introducing 2.5% commission on top of all fees

Jardine Lloyd Thompson is to establish a new underwriting division and has said that a transformational deal may happen in future

Jardine Lloyd Thompson asserts independence from big 3

JLT bought niche personal lines broker Pavilion in 2007

JLT to establish an underwriting division

The Future Decoded

Introduction

The broker channel is dominant in UK commercial insurance distribution, however its share of the market is declining

Brokers are forecast to see a 1% decline in market share between 2007 and 2011

The direct channel will see its commercial insurance distribution share rise to 11% by 2011

It is anticipated that insurers will make more affinity deals with retailers and associations to sell commercial insurance

Banks are expected to retain a distribution share of around 1% between 2007 and 2011

Company staff and agents will see slight reductions in market share

APPENDIX

Definitions

SME

Definitions of ABI terms

Brokers

National brokers

Other intermediaries & brokers

Chain brokers & telebrokers

Direct

Other company agents

Utilities/retailers/affinity groups

Company staff

Banks/building societies

Written premiums

Methodology

Datamonitor’s UK Commercial Insurance Broker Competitor Database

Source of data

Industry sectors

Further reading

Ask the analyst

Datamonitor consulting

Disclaimer

Browse complete UK Commercial Insurance Distribution 2010 Report

Browse all Banking and Financial Services Market Research Reports

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Browse all Latest Report

Related Reports:

UK Commercial Insurance Distribution 2009

Distribution in UK Commercial General Insurance 2008

UK Personal Insurance Distribution 2010

About Us:
Reports and Reports comprises an online library of 10,000 reports, in-depth market research studies of over 5000 micro markets, and 25 industry specific websites. Our client list boasts almost all well-known publishers of such reports across the globe. We as a third-party reseller of market research reports employ a number of marketing tools, such as press releases, email-marketing and effective search-engine optimization techniques to drive revenues for our clients. We also provide 24/7 online and offline support service to our customers.

Contact:
Ms. Sunita
7557 Rambler road,
Suite 727, Dallas, TX 75231
Tel: +1-888-989-8004
Website: http://www.reportsandreports.com/
Blog: http://reportsnreports.wordpress.com/
Blog: http://reportsandreports.blogspot.com/