New opportunities in local online shopping\ Segments and Players in the Australian Insurtech Market\ European mobile in Q1 2020\ UK Broadcast television\ UK pandemic economy


 

 

 


 

 

 

Welcome to the Venture Insights newsletter!
In this week’s edition, we look at: 

 

  • New opportunities in local online shopping
  • Segments and Players in the Australian Insurtech Market
  • European mobile in Q1 2020
  • UK Broadcast television
  • UK pandemic economy

 

 

 

CHART OF THE WEEK

 

 

Do you agree or disagree with the following statements?



 

 

Source: Venture Insights Australian Consumer Behavioural Survey, April 2020, n=1,006

 

 

 

New opportunities in local online shopping 

 

 

Since the COVID-19 crisis, has your household increased its online shopping activities?



 

 

Source: Venture Insights Australian Consumer Behavioural Survey, April 2020, n=1,006

 

 

This survey report is the third of three reports based on a behavioural change survey conducted by Venture Insights and commissioned by NBN Co (completed 28th April 2020). The aim of the survey was to understand how new needs due to COVID-19 had changed consumer broadband and technology usage. This third report investigates how COVID-19 has affected the use of online shopping. Amongst other results, we found that almost half (49%) of all respondents have increased spending on online shopping since COVID-19 social distancing began. 70% of all respondents now consciously support local businesses, but 70% were restricted by a limited online presence. Respondents said that local businesses could do more by developing a stronger online presence, being more innovative in their offering and offering home delivery. The survey results underline the importance of local business having an online presence. Click here to download our free report.

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Segments and Players in the Australian Insurtech Market

 

 

Annual revenue of Australian insurance sectors, AUD billion 



 

 

Source: APRA statistics

 

 

This report is the final report in a series by Venture Insights on the disruption in Insurtech, following on from reports on the global landscape and aspects of the Australian landscape. The trend of incumbent insurers in Australia losing ground to challenger brands has been well-established, but the rise of insurtechs – startups which deploy new technologies to challenge incumbents, act as technical enablers to incumbents or act as platforms / aggregators – is a key development in the last five years. The progress of insurtechs has depended substantially by which segment they play in, with general insurance being the most heavily targeted, followed by health and life insurance. This report explores this uneven penetration, highlights key startups in each space and looks at initiatives by incumbent insurers. For more details, click to read our report.

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European mobile in Q1 2020

 

 

Service revenue growth by market



 

 

Source: Enders Analysis, company reports

 

 

European mobile service revenue growth strengthened very slightly to -0.3% this quarter but, with many positive and negative factors at play, it would be wrong to conclude that we evidenced a convincing improvement in momentum. Most operators have reiterated their financial guidance in spite of COVID-19 but there is caution from Vodafone and those exposed to sports rights (BT and Telefonica). The outlook benefits from continued lockdown measures (reducing churn and spin-down) and the annualisation of some financial drags from the middle of next quarter. However, competition in Spain remains intense and the sector is exposed to any economic downturn. For more details, click to read a report from our UK research partner, Enders Analysis.

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UK Broadcast television

 

 

 

 

 

 

 

Even with lockdown continuing and competition for time still almost non-existent, linear viewing is heading back towards 2019 levels after its big, early boost. The inevitable fatigue around COVID-19 news, along with the growing staleness of the TV schedule caused by content supply struggles, are behind the decline. Unmatched TV set use, made up predominantly of streaming and gaming, has held onto much of its growth, not affected by many of the challenges that linear schedules face. This trend will inform future viewing patterns. For more details, click to read a report from our UK research partner, Enders Analysis.

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UK pandemic economy – The uncertain road ahead

 

 

 UK consumer confidence index



 

 

Source: European Commission, Enders Analysis

 

 

In April, the first full month of lockdown, UK’s GDP fell by 20.4% month-on-month, the steepest decline on record, with further reduction expected in May. On 15 June, some non-essential premises re-open, but activity for the rest of the year will be depressed by social distancing—the UK’s recession in 2020 is certain to be the steepest on record. The UK’s furlough scheme avoided the massive loss of jobs and supported worker incomes. A steep rise in the unemployment rate is expected when furlough ends in the autumn, judging by the US experience. The UK’s recession is in step with its equally impaired trading partners, melting the UK’s trade. The UK must also contend with the economic impact of the exit from the Single Market transition, as of 2021. For more details, click to read a report from our UK research partner, Enders Analysis.

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