Online insurance activity grows as does omnichannel focus
Car insurance is still the most popular insurance product bought online reveals an updated study* from digital marketing specialists Speedie Consultants with 67% of Brits buying their motor insurance online.
When asked: “What insurance products do you buy online?” the responses were:
- motor insurance - 67% (a 7% increase from February 2013 when the initial study** was carried out)
- home insurance - 36% (this also increased by 7%)
- travel insurance almost doubled to 34% (when previously questioned,18% had bought the product on a mobile device)
- the amount of people buying pet insurance online almost tripled to 23% (compared to just 8% previously)
- health insurance purchases remained the same at 5%
- life insurance doubled from 4% of sales made online (Feb 2013) to 8% (September 2015)
The research also revealed that using a price comparison site is the most common way people find products online at 56% (previously it was 23%).
Some respondents used multiple ways to purchase their insurance online. The study also revealed:
- previously, 59% of people found the insurance they need by using a search engine – this has now dropped to 45%
- over a quarter of customers (26%) visit a site direct (an increase of 7%)
- insurance purchases made as a result of an email have doubled from 5% in February 2013 to 11% in September 2015.
Jason Hulott, Director from Speedie Consultants says: "This is the second in a series of studies looking at people’s insurance buying habits. And while we still see growth in the purchase of insurance online, some products are still growing in popularity while others have stayed the same.
“People are also now using multiple options to buy their insurance, as the study suggests that they may have visited a search engine and price comparison site before buying their cover.
“It demonstrates that an omnichannel approach to online marketing in the insurance space is important, so making sure you have a presence on multiple channels is the best way to grow your online activity.”
Ends
*Independent study commissioned by Speedie Consultants using Usurv.com, 28.09.15
** Independent study commissioned by Speedie Consultants using Usurv.com, 01.02.13
Contact:
Jason Hulott, Speedie Consulting, on: 01843 831088; 07940 521056 or email: jason@speediepr.co.uk
Speedie Consultants is a digital marketing agency established in 2003 by Jason and Stella Hulott and offering over 50 years’ combined experience in the internet marketing and copywriting industries. Speedie Consultants Limited offers many solutions for businesses’ internet marketing needs including the provision of web content; article marketing; blog set up and marketing; press release syndication; affiliate programme set up and management; and consultancy.
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