“UK Private Motor Insurance: Distribution & Marketing 2017″, explores consumer purchasing behavior and how consumer preferences are changing over time. This report discovers what is most influential to customers when purchasing a policy, and also reveals the most popular providers in the market. New trends and innovations are highlighted, as well as the key factors that will influence the private motor insurance market over the next few years.
The purchasing preferences of private motor insurance customers have remained steady in 2017. Direct to insurer is still the most popular distribution channel, with its popularity increasing by 2.3 percentage points (pp). A presence on price comparison sites is also important – particularly at a time where premiums are increasing – as customers use this channel both to research and purchase insurance, with over half of respondents at least conducting research on these sites. Admiral has overtaken Aviva as market leader, with the latter seeing its share of survey respondents decline by 6pp.
– 44.5% of private motor insurance customers purchased direct from an insurer in 2017.
– 86.9% of private motor insurers purchased over the phone or online in 2017.
– 10.9% of private motor insurance customers held a policy with Admiral in 2017.
– 76.0% of private motor insurance customers shopped around at last renewal.
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Reasons to buy
– Understand consumer purchasing decisions and how these will influence the market over the next few years.
– Improve customer engagement by recognizing what is most important to them and how to adapt products and services to meet their needs.
– Discover which providers lead the way in the private motor insurance space and how providers are revolutionizing the market through new innovations.
– Adapt your distribution strategy to ensure it still meets customer purchasing behaviors.
– Discover which insurers spend the most on advertising and which channels they are using.
Table of Content: Key Points
The Purchasing Journey
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