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UK Household Insurance Marketing and Distribution Research Report by Radiant Insights

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UK Household Insurance Marketing and Distribution Research Report by Radiant Insights

February 24
17:32 2017

Market Research Report Industry
Radiant Insights has published a new report titled “UK Household Insurance: Distribution and Marketing 2016”

Summary

The direct channel remains the preferred way to purchase home insurance and has gained market share across all three products (contents, buildings, and combined) in 2016. The banking channel is also growing due to the improvement of the UK housing market, which has increased the capacity for mortgage providers to cross-sell insurance. Brokers are losing share as more customers want to purchase independently online. Retailers have also lost share, but remain competitive on price comparison sites. The most common activity before purchasing is visiting a price comparison site, highlighting that customers are sensitive to price, especially when purchasing a combined policy. This heightened price sensitivity among combined customer’s results in them being less loyal to their provider. Compared to contents and buildings customers, who prefer to automatically renew, they are more likely to shop around and switch.

Browse the Full UK Household Insurance Market – Global Scenario, Industry Outlook, Share, and Industry analysis, Size and Trends Report at – http://www.radiantinsights.com/research/uk-household-insurance-distribution-and-marketing-2016

Key Findings

– 37.2% of combined insurance customers purchased direct from an insurer in 2016.
– Visiting a price comparison site to compare prices and policies is the most common pre-purchase activity for household insurance customers.
– Aviva is the leading provider across contents, buildings, and combined policies in 2016.
– 70.2% of combined household insurance customers shopped around at last renewal.

Browse All Reports of This Category @ www.radiantinsights.com/catalog/financial-services

Synopsis

Radiant Insights’s “UK Household Insurance: Distribution and Marketing 2016” report explores consumer purchasing behavior and how consumer preferences are changing over time for contents, buildings, and combined cover. It 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 household insurance market over the next few years.

Request a Free Sample Copy of this Report @ http://www.radiantinsights.com/research/uk-household-insurance-distribution-and-marketing-2016/request-sample

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 insurers can adapt their products and services to meet their needs.
– Discover which providers lead the way in the household insurance space and how providers are revolutionizing the market through new innovations. 
– Adapt your distribution strategy to ensure it still meets customer purchasing behavior.

Read more related reports by Radiant Insights:

• Indonesia Retail Banking Market

http://www.radiantinsights.com/research/retail-banking-country-snapshot-indonesia-2016

Indonesia has a sizable segment that resembles a development stage similar to markets such as Malaysia. Consumers within this segment are very much like those in developed markets, whereby they embrace the convenience brought to banking by digital platforms and are sensitive about price. On the other hand, a significant proportion of the adult population still does not have a bank account. This highlights the massive opportunities that lie ahead in the Indonesian retail banking sector.

• Turkey Retail Banking Country Market

http://www.radiantinsights.com/research/retail-banking-country-snapshot-turkey-2016

This report reviews the retail banking sector in Turkey, with a particular focus upon the current account, savings, mortgage, and personal loans markets. It includes both market-level data and insight from our global Retail Banking Insight Survey.

The report offers insight into:
– How consumers in Turkey take out and use their financial products, and how this has changed in recent years.
– Which providers dominate the current account, savings, mortgage, and loan markets, and what factors persuaded their customers to choose them.
– The extent to which consumers are using online and mobile channels to research, take out, and use their financial products.

Media Contact
Company Name: Radiant Insights, Inc.
Contact Person: Michelle Thoras, Corporate Sales Specialist – USA
Email: Send Email
Phone: (415) 349-0054, Toll Free: 1-888-202-9519
Address:28 2nd Street, Suite 3036
City: San Francisco
State: California
Country: United States
Website: http://www.radiantinsights.com/research/uk-household-insurance-distribution-and-marketing-2016

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