-- "UK Insurance Aggregators 2018", report explores consumer purchasing behavior through price comparison sites and how it is changing. It discovers what is most influential to customers when selecting a policy through the channel and reveals the brand strategies of the four leading sites. Their distinct approaches to advertising are also highlighted, as well as key factors that will influence the market over the coming years - including regulation and new technology.
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The proportion of consumers using aggregators for research purposes rose in three of the four leading personal lines categories in 2017, after continuously declining for three consecutive years in all four lines. The motor and pet lines saw rises of just under 5.0 percentage points as consumers looked for savings when faced with increasing premiums in both sectors. However, this increased traffic did not necessarily lead to more purchases through price comparison websites.
Scope
- Three of the four main aggregators reported an improved year-on-year financial performance.
- Web traffic increased but dominance in individual channels declined as consumers opted to go direct to insurers.
- Confused.com was the only aggregator to launch a large-scale campaign up to H1 2017, but Comparethemarket.com and Moneysupermarket.com released theirs later in the year.
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Reasons to buy
- Adapt your distribution strategy to ensure it still meets customer purchasing behaviors.
- Ensure you remain competitive as new innovations revolutionize the consumer purchasing journey.
- Be informed of how new technology could impact the aggregator channel over the next few years.
- Read about differences in pricing between the top four comparison sites.
Table of Contents:
1. EXECUTIVE SUMMARY
1.1. Aggregator web traffic picks up as premiums soar
1.2. Key findings
1.3. Critical success factors
2. AGGREGATOR MARKET
2.1. Aggregators promise to save consumers time and money holds strong appeal
2.2. Aggregators are increasingly important as a research tool, but conversion rates are dropping
2.3. Financial results indicate a strong performance from aggregators
2.4. Price is essential, but consumers do look beyond the cheapest policy
2.5. The Insurance Distribution Directive aims to increase clarity
2.6. The FCA’s renewal transparency regulation has yet to be properly enforced
2.7. Advisory, concierge insurtech apps could mount a challenge to aggregators
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3. COMPARISON SITES BY CHANNEL
3.1. Motor
3.1.1. Regulation
3.1.2. Future market and threats
3.1.3. Average price varies considerably across the leading aggregators
3.2. Home
3.2.1. Clarity remains an issue in improving the home sector
3.3. Travel
3.4. Pet
3.4.1. Soaring premiums are sending consumers to aggregators
3.4.2. Clarity remains a problem in the pet sector
4. COMPARISON SITE PROFILES
4.1. Overall
4.1.1. Comparethemarket.com offers the cheapest premiums
4.2. Comparethemarket.com
4.2.1. Comparethemarket.com is caught up in a CMA investigation
4.2.2. Comparethemarket.com released strong financial results
4.2.3. Comparethemarket.com is on the hunt for someone to travel the world
4.3. Moneysupermarket.com
4.3.1. Moneysupermarket.com enjoyed a strong start to 2017
4.3.2. Moneysupermarket.com leads the way in mobile apps
4.4. Confused.com
4.4.1. Confused.com sacrificed profit for a marketing push
4.4.2. Confused.com is continuing its James Corden-led advertising campaign
4.5. Gocompare.com
4.5.1. Solid financial performance for Gocompare.com
4.5.2. Gocompare.com look towards fintech
5. MARKETING
5.1. Overall
5.2. Confused.com dominates advertising spend
5.3. Moneysupermarket.com has increased its radio advertising
5.4. Gocompare.com’s advertising spend continues to decline
5.5. Comparethemarket.com spent less than £1m in H1 2017
6. Appendix
6.1. Abbreviations and acronyms
6.2. Definitions
6.2.1. Home insurance
6.2.2. Pet insurance
6.3. Methodology
6.3.1. UK Insurance Consumer Surveys.
6.4. Bibliography 44
6.5. Further reading
Contact Info:
Name: Hrishikesh Patwardhan
Email: Send Email
Organization: ReportsnReports
Website: https://www.reportsnreports.com/reports/1355600-uk-insurance-aggregators-2018.html
Release ID: 402431
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