Analysis / By /

Region profile: Insurance in Europe

December 17, 2020
Analysis

In this article, we explore public sector insurance tenders in Europe. First, we look at how many tenders are being issued year by year by public sector bodies in Europe and their value. We then deep dive into some of the largest countries and show what the range of values and tender quantities these markets have.

We have data on tenders from around the world going back nine years. This allows us to estimate market sizes and model trends. For the public sector insurance market, we have sufficient data to obtain and use the median tender value (€1,362,500 per annum) for European tenders and multiply this by tenders count per year to create a market size of up to €7.2bn.

 

Sizing the public sector insurance market

At first glance, the market size for insurance each year has dropped in the two years since 2016. However as of Q2 2019, the market size is over 2/3rds that of 2017. From our data, we know that the number of tenders is two-thirds that of 2017 and the value is approximately half that of 2017. Given what we know of insurance publishing patterns from our data, we expect that the market size for public sector will hit circa €6bn by Q4 2019.

This chart does not tell the full story however and it is necessary to delve deeper into the different countries. For example, France has a high demand for insurance in the public sector. On one hand it has seen the number and value decrease over the past three years. On the other, it has seen an increase in the number of insurance tenders that contain reference of a framework agreement (“accord-cadre”). This could indicate a softening of the market in France as frameworks are notoriously poorly priced.

 

Key public sector insurance markets

This chart shows the seven key public sector insurance markets: France, UK, Italy, Portugal, Netherlands, Spain and Denmark. Most of these countries are higher than the European average. We see that the UK appears smaller. One explanation for this is that, within UK public sector insurance tenders, there are a number of references to framework agreements. Framework agreements are much harder to estimate. 

It is also important to consider the consistency of tender values. Some countries report higher median values because they publish less but at a much higher tender value. The chart below shows the range of tender values for the top countries. We see that France and the UK is more consistent than for other countries such as Spain, Portugal and Italy.

The spread of tender values

Market intelligence is key both to identify the larger tenders in countries where the spread is greater and to build a stable pipeline from countries that publish more tenders with more consistent values. At OpenOpps we can help provide free market intelligence through our tender search page [https://openopps.com/](https://openopps.com/) where you can find opportunities for insurance and other financial services sectors and more. We also provide value added market intelligence, such as bespoke research or access to our API. 

May 30, 2023

Space To Innovate- New UK Gov Opportunity

The UK Government's, Defence Science and Technology Laboratory (Dstl) Space Systems Programme has announced it is seeking proposals to aid UK Defence...
Read more...
May 25, 2023

EU Commission Move To Electronic Procurement

The European Commissions Directorate Generate for Informatics (DIGIT), has launched a new dynamic purchasing system for software licences and associated services (SIDE...
Read more...
May 22, 2023

Biosecure Procurement Trial

The UK Government yesterday announced new measures for domestic tree seed production and biosecurity procurement requirements. The next round of the Domestic...
Read more...
May 18, 2023

New Industry Body White Paper Review of Covid Procurement

Since early on in the pandemic, there has been significant focus on the procurement of Covid related PPE, due to unprecedented nature...
Read more...
May 11, 2023

EU Council Joint Procurement Under European Peace Facility

The European Union Council has adopted an assistance measure worth €1 billion under the European Peace Facility (EPF) that will further contribute...
Read more...
May 10, 2023

Measuring Sustainable Public Procurement

One of the projects we are most proud of is working with The Open Contracting Partnership to create a Sustainable Public Procurement...
Read more...
May 3, 2023

From Hero to Zero – UK Digital Marketplace Shuttered

Within living memory, the UK’s Crown Commercial Service (CCS) had planned to reshape a large swathe of public procurement in the image...
Read more...
May 2, 2023

We Sell Data, Not Seats.

Why we sell data not seats? We're data analysts. We really understand the data we gather. We've been doing it for 15...
Read more...
May 2, 2023

New Tech Disrupts Traditional Government Procurement

A Silicon Valley startup, GLASS, has created a revolutionary new tech, Glass Commerce, an e-commerce marketplace enabling compliant transactions between government buyers...
Read more...
April 25, 2023

Green Public Procurement: New Report

At Spend Network, we are always on the look out for governments, think tanks, research bodies, and other organisations who are working...
Read more...
April 25, 2023

EU Agrees on Anti-Coercion Instrument

The European Commission and European Parliament’s Committee on International Trade have agreed on an anti-coercion instrument (ACI) which will enable public procurement...
Read more...
April 13, 2023

£256 Million Contract for Cyprus Awarded by UK Government

The UK Ministry of Defence  has awarded a £256 million contract, for work, repairs, servicing, and facilities management for the UK defence...
Read more...
April 5, 2023

Endorsements For Export Agencies

Endorsements are a win-win for export agencies. Exporters face new challenges, both in terms of increased barriers to trade following the pandemic,...
Read more...
April 4, 2023

Looking For Reasons To Export to Government?

If you are looking to grow exports, you should start with the largest and most transparent industry in the world, and here...
Read more...
April 5, 2023

Lockheed Martin Selected As Preferred Bidder.

US defence giant Lockheed Martin has won a contract to deliver Australia’s first sovereign-controlled military satellite communication constellation. Lockheed Martin was recently announced...
Read more...

Newsletter

Compelling research, insights and data directly into your inbox.

Recent media stories

Search

Recent articles