ÜBER analyze Study Ranks Top 50 P&C Insurance Websites
April 2, 2003, Toronto – More than a quarter of Canadians would purchase home or auto insurance online if insurance Websites offered features such as online quotes and access to company financial information, according to a new study by Toronto research firm ÜBER analyze.
The study ranks the 50 top Canadian Property & Casualty (P&C) insurance company Websites based on how well they address consumers’ stated needs, as well as brokers’ requirements. The first of its kind in Canada, the study was designed to provide insurance executives with insights and information to tackle the online market more effectively. The study included quantitative and qualitative research involving insurance executives, Web experts, brokers and consumers from across the country.
“Online home and auto insurance sales will amount to $10-billion a year when the insurance industry catches up with consumer’s online needs and habits,” said Chris MacKechnie, President of ÜBER analyze. “Insurance companies have a great opportunity to capitalize on this market by understanding what consumers really need from insurance sites.”
The study showed that consumers look for very specific features and information in insurance Websites. Topping the list is the ability to obtain online, real-time quotes using self-explanatory forms and easily accessible help information. Also high on the list is the ability to obtain information on insurance companies’ financial stability, an indication that factors such as consolidation and corporate financial misreporting scandals have led to heightened risk awareness on the part of consumers.
MacKechnie said, “We’re not talking about books and CDs here�insurance is a pretty complex sell in online terms. And it’s an important, big-ticket purchase for consumers. To make that sale, you need an effective and informed Web strategy that speaks to consumers and brokers in their language, and on their terms.”
The ÜBER analyze report was unveiled today at the TSX Conference Centre in Toronto.
About ÜBER analyze (www.uberanalyze.com)
ÜBER analyze is a research company with a difference – Research for the Real World. They approach every research opportunity from a business perspective to gain insight that can add to an organization’s bottom line. The company is based in Toronto, Canada.
