Toronto, ON (Oct. 7, 2016) – Finaccord’s Aggregation Metrics: Consumer Approaches to Online Insurance Comparison Sites in Selected Global Markets offers new insights into the current development and future prospects of online insurance comparison sites in eight countries: Australia, Canada, France, Germany, Italy, Spain, the UK and the US. It examines consumer propensity to research and purchase any kind of insurance online plus the size of the available market for the key products of car / auto and home insurance, as defined by new customers and switchers; it then analyses the distribution channels and interfaces used for acquiring these policies, highlighting both the share of aggregators, in particular, and the share of online sales, in general, including indicators for the speed at which these are growing.
Moreover, it investigates the extent to which online insurance buyers in each country are using tablets or mobile phones for this purpose, as opposed to regular laptop or desktop computers, and establishes whether propensity to use aggregators is influenced by a range of variables including not only gender, age, annual household income and employment status but also type of cover held, differentiating between standard and non-standard policies and (for car / auto insurance only) between telematics-enabled policies and not telematics-enabled policies. In addition, it benchmarks the performance of eight of the leading insurance comparison sites in each country in terms of awareness levels, conversion rates and sales.
Key features of this report and the consumer data file that accompanies it include:
- unique data for each country showing whether consumers use one, two, three or up to seven or more sites when researching insurance products;
- standardised figures illustrating distribution channels employed for acquiring car / auto and home insurance, differentiating between ‘available’ customers buying for the first time or switching provider and customers simply renewing a policy bought in a previous year;
- similar statistics showing the distribution interfaces used for the same two policy types with a split between sales in a face-to-face setting, online sales, phone sales (both inbound and outbound) and postal sales;
- performance benchmarking for eight of the leading aggregators in each country in order to indicate rates of recognition, usage to research insurance and usage to actually buy insurance;
- survey results specific to non-standard car / auto and home insurance – including a breakdown of the reasons why some customers have non-standard cover – plus (for car / auto insurance) data concerning telematics-enabled policies.
For further information about this research, please click here to access the table of contents and series prospectus.
About the research series
Finaccord’s Aggregation Metrics series of reports offers new insights into the current development and future prospects of online insurance comparison sites in eight countries: Australia, Canada, France, Germany, Italy, Spain, the UK and the US. It examines consumer propensity to research and purchase any kind of insurance online plus the size of the available market for the key products of car / auto and home insurance, as defined by new customers and switchers; it then analyses the distribution channels and interfaces used for acquiring these policies, highlighting both the share of aggregators, in particular, and the share of online sales, in general, including indicators for the speed at which these are growing.
Moreover, it investigates the extent to which online insurance buyers are using tablets or mobile phones for this purpose, as opposed to regular laptop or desktop computers, and establishes whether propensity to use aggregators is influenced by a range of variables including not only gender, age, annual household income and employment status but also type of cover held, differentiating between standard and non-standard policies and (for car/auto insurance only) between telematics-enabled policies and not telematics-enabled policies. In addition, it benchmarks the performance of eight of the leading insurance comparison sites in each country in terms of awareness levels, conversion rates and sales.
Read or download the complete series prospectus.
Which insurance aggregators are benchmarked?
- ClicAssure
- ComparaSave
- InsuranceHotline.com
- Kanetix
- LowestRates.ca
- RateLab.ca
- RateSupermarket.ca
- Shop Insurance Canada
About Finaccord
Finaccord is a leading international market research and consulting company specialising in financial services with a particular focus on marketing and distribution topics such as affinity marketing, bancassurance and strategic alliances. We provide our clients with mission critical insights into major issues in banking and insurance worldwide, helping them to create and maintain a competitive advantage. For more information, visit www.finaccord.com.
Source: Finaccord
Tags: InsuranceHotline.com, Kanetix, LowestRates.ca, RateSupermarket.ca
