Researchmoz added Most up-to-date research on "UK Household Insurance: Distribution and Marketing 2016" to its huge collection of research reports.
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 customers 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.
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.
Get PDF for more Professional and Technical insights @ http://www.researchmoz.us/enquiry.php?type=S&repid=902799
Synopsis
Verdict Financials 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.
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ResearchMoz
Mr. Nachiket Ghumare,
90 State Street, Albany NY, United States - 12207
Tel: +1-518-621-2074
USA-Canada Toll Free: 866-997-4948
Email: sales@researchmoz.us
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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 customers 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.
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.
Get PDF for more Professional and Technical insights @ http://www.researchmoz.us/enquiry.php?type=S&repid=902799
Synopsis
Verdict Financials 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.
For More Information Kindly Contact:
ResearchMoz
Mr. Nachiket Ghumare,
90 State Street, Albany NY, United States - 12207
Tel: +1-518-621-2074
USA-Canada Toll Free: 866-997-4948
Email: sales@researchmoz.us
Follow us on LinkedIn @ http://bit.ly/1TBmnVG
Follow me on Blogger at: http://mymarketresearchlifereports.blogspot.in/
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