UK Insurance Aggregators 2019

2019-05-31
Price :
Published : May-2019
No. of Pages : 46

UK Insurance Aggregators 2019

Summary

“UK Insurance Aggregators 2019”, report explores the ever-changing consumer purchasing behavior through price comparison sites. It identifies what is most influential to customers when selecting a policy through this channel and reveals the brand strategies of the four leading sites. Their distinct approaches to advertising are also highlighted, as well as the key factors that will influence the market over the coming years, including regulation and new technology.

The percentage of consumers conducting research on price comparison websites at renewal increased in the motor and pet lines, while home and travel insurance saw declines. Motor insurance, the biggest market for aggregators, posted a rise of 4.5 percentage points. This trend was replicated in the number of purchases made through the channel, with motor and pet also seeing more purchases. Confused.com offers the cheapest polices in two out of the four product lines, while market leader Compare the Market does not have the best value prices in any line according to our market research.

Scope

– Motor insurance has the strongest presence on comparison sites, with over two thirds of consumers purchasing policies through them.
– All four main aggregators reported improved year-on-year financial performances.
– Advertising spend is high for three of the four leading aggregators, with Confused.com leading the way as it continues to improve its market position in the individual product lines.

Reasons to buy

– Adapt your distribution strategy to ensure it still meets customer purchasing needs and behaviors.
– Ensure you remain competitive as new innovations revolutionize the consumer purchasing journey.
– Be informed of how new technologies could impact the aggregator channel over the next few years.
– Learn about the differences in pricing between the top four comparison sites.

Filed in: Banking & Finance, Insurance
Publisher : GlobalData
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