Of the insurance companies currently active in the UK , 80 % were incorporated this century , according to analysis by home insurer Policy Expert . Furthermore , 40 % of life and non - life insurers have been established since 2010 , with the average age of UK insurers just 16 years . In today’s competitive climate, it’s not enough for new propositions to stand out from the crowd, unless you can convert the crowd into loyal customers by offering something above and beyond the insurance status quo. A total of 100 new firms were registered in Q1 2017 , pushing newer firms to outnumber incumbents two - to - one . The growth of start - ups is being driven by technological advances , with industry players trying to balance innovation and scale , said Policy Expert . The research also noted almost 60 insurance corporations which have been active for over 100 years .
Of the insurance companies currently active in the UK , 80 % were incorporated this century , according to analysis by home insurer Policy Expert . Furthermore , 40 % of life and non - life insurers have been established since 2010 , with the average age of UK insurers just 16 years . A total of 100 new firms were registered in Q1 2017 , pushing newer firms to outnumber incumbents two - to - one . The growth of start - ups is being driven by technological advances , with industry players trying to balance innovation and scale , said Policy Expert . The research also noted almost 60 insurance corporations which have been active for over 100 years .