Home > Aggregation Metrics: Consumer Attitudes towards Online Aggregation and Broking of Financial Services in France (Table of Contents)

Aggregation Metrics: Consumer Attitudes towards Online Aggregation and Broking of Financial Services in France

Finaccord Ltd.
September 1, 2008
80 Pages - SKU: FIN1915197

Abstract Table of Contents Search inside this report Related Reports

0.0 EXECUTIVE SUMMARY: French consumers are reluctant to research or acquire financial services online; … although there are variances in behaviour by gender, age group and household income; For both banking and insurance, two-thirds of online consumers use three to five websites; Rapid growth in Internet sales…; … has helped tied intermediaries such as supermarkets and bancassurers more than brokers; Switchers out-number new customers for insurance, increasing the target customer base; Direct providers’ websites have much higher recognition rates than aggregators and brokers…; … although many consumers appreciate that aggregators and brokers offer something different…; … so a continued trend towards Internet distribution should increase the size of this market
1.0 INTRODUCTION: Finaccord; European consumer research; Aggregation; European market, partnership and bancassurance research; Research rationale; Online aggregation is having a major impact on financial services distribution; Interest in online aggregation is not limited to traditional providers of consumer financial services; The growth and influence of Confused.com and Moneysupermarket.com are beyond dispute…; … although the UK now endures a surplus of competitors in online aggregation and broking; Heavy spending on advertising has helped the industry leaders to stay ahead of the pack; Online intermediaries in France have opened branches because most sales are made face-to-face; The Aggregation Metrics research has been structured to test the appetite of consumers in Europe
2.0 SURVEY ANALYSIS: Introduction; Consumer propensity to purchase via the Internet; While nearly three-quarters of consumers in France have bought clothing online…; …less than a quarter of respondents have acquired insurance via the Internet; There is wide potential for online marketing and partnership programmes; Propensity to research and take out financial products over the Internet; Banking products; Just over a third of consumers use the Internet to research and / or take out banking products; Consumer propensity to research and take out banking products over the Internet in France, 2008; There is a clear link between longevity of Internet usage and online acquisition of banking products; Insurance products; Two-thirds of French consumers neither research nor buy insurance over the Internet; Use of the Internet to both research and acquire insurance varies among consumer groups; Comparison with European average; Number of websites visited prior to taking out financial products online; Banking products; Online customers are most likely to solicit details for banking products on three occasions…; Insurance products; … for insurance as well as banking; Mortgages; Switching rates and brand new loans; Analysis of distribution interfaces used; Face-to-face distribution is losing share to the Internet and telephone…; Analysis of distribution channels used; … to the detriment of direct lenders; Personal loans; Switching rates and brand new loans; Analysis of distribution interfaces used; Trend away from face-to-face transactions is much less marked for personal loans…; Analysis of distribution channels used; … and direct distribution remains the dominant channel; Comparison of distribution channels used by offline and online customers; Loan brokers are strongest amongst online customers; Motor insurance; Switching rates and brand new sales; Analysis of distribution interfaces used; Sales of motor insurance via the Internet are rising at the expense of phone and face-to-face sales; Analysis of distribution channels used; Banks have doubled their share of motor insurance sales…; Comparison of distribution channels used by offline and online customers; … though insurance brokers have gained most from the shift towards Internet distribution; Household insurance; Switching rates and brand new sales; Analysis of distribution interfaces used; Internet’s share of household insurance sales has tripled in the past year…; Analysis of distribution channels used; … with direct insurers losing sales to most other distribution channels; Summary of market attractiveness for online aggregators and brokers; Growth in online sales is offset by relatively limited use of brokers for consumer financial services…; Switching increases the market available for aggregators and brokers; Switchers out-number new customers for motor and household insurance; Online aggregators and brokers of financial services; Recognition rates; Few online aggregators or brokers achieve consumer recognition rates in excess of 20%; Consumer understanding of aggregation and broking concepts; Brokers of financial services; Consumers show a similar level of understanding of the basic definition of brokers…; Aggregators of financial services; … as they do for aggregators
3.0 APPENDIX: Research sample; The research embraces a total of 1,005 respondents in France; Research questionnaire
GRAPHICS / TABLES: Consumer propensity to purchase assorted goods and services via the Internet in France, 2008; Comparison of consumer propensity to purchase assorted goods and services via the Internet in France, 2008 (data); Consumer propensity to purchase assorted goods and services via the Internet in France, all respondents and financial services online customers, 2008; Consumer propensity to research and take out banking products over the Internet in France, 2008; Consumer propensity to research and take out banking products over the Internet in France, 2008: segmentation by gender, age group, household income and longevity of Internet usage (data); Consumer propensity to research and take out insurance products over the Internet in France, 2008; Consumer propensity to research and take out insurance products over the Internet in France, 2008: segmentation by gender, age group, household income and longevity of Internet usage (data); Use of the Internet to research and buy financial services in France and Europe, 2008; Number of websites visited by consumers in France prior to taking out banking products over the Internet, 2008; Number of websites visited by consumers in France prior to taking out insurance over the Internet, 2008; % of consumers in France switching provider or acquiring mortgages for the first time, H2 2007 / H1 2008; Analysis of distribution interfaces used by consumers in France for acquiring mortgages, H2 2007 / H1 2008 and all previous periods; Analysis of distribution interfaces used by consumers in France for acquiring mortgages, H2 2007 / H1 2008 and all previous periods (data); Analysis of distribution channels used by consumers in France for acquiring mortgages, H2 2007 / H1 2008 and all previous periods; Analysis of distribution channels used by consumers in France for acquiring mortgages, H2 2007 / H1 2008 and all previous periods (data); % of consumers in France switching provider or acquiring personal loans for the first time, H2 2007 / H1 2008; Analysis of distribution interfaces used by consumers in France for acquiring personal loans, H2 2007 / H1 2008 and all previous periods; Analysis of distribution interfaces used by consumers in France for acquiring personal loans, H2 2007 / H1 2008 and all previous periods (data); Analysis of distribution channels used by consumers in France for acquiring personal loans, H2 2007 / H1 2008 and all previous periods; Analysis of distribution channels used by consumers in France for acquiring personal loans, H2 2007 / H1 2008 and all previous periods (data); Comparison of distribution channels used by consumers in France for acquiring personal loans offline and online, H2 2007 / H1 2008; Comparison of distribution channels used by consumers in France for acquiring personal loans offline and online, H2 2007 / H1 2008 (data); % of consumers in France switching provider or acquiring motor insurance for the first time, H2 2007 / H1 2008; Analysis of distribution interfaces used by consumers in France for acquiring motor insurance, H2 2007 / H1 2008 and all previous periods; Analysis of distribution interfaces used by consumers in France for acquiring motor insurance, H2 2007 / H1 2008 and all previous periods (data); Analysis of distribution channels used by consumers in France for acquiring motor insurance, H2 2007 / H1 2008 and all previous periods; Analysis of distribution channels used by consumers in France for acquiring motor insurance, H2 2007 / H1 2008 and all previous periods (data); Comparison of distribution channels used by consumers in France for acquiring motor insurance offline and online, H2 2007 / H1 2008; Comparison of distribution channels used by consumers in France for acquiring motor insurance offline and online, H2 2007 / H1 2008 (data); % of consumers in France switching provider or acquiring household insurance for the first time, H2 2007 / H1 2008; Analysis of distribution interfaces used by consumers in France for acquiring household insurance, H2 2007 / H1 2008 and all previous periods; Analysis of distribution interfaces used by consumers in France for acquiring household insurance, H2 2007 / H1 2008 and all previous periods (data); Analysis of distribution channels used by consumers in France for acquiring household insurance, H2 2007 / H1 2008 and all previous periods; Analysis of distribution channels used by consumers in France for acquiring household insurance, H2 2007 / H1 2008 and all previous periods (data); Attractiveness of markets for online aggregators and brokers in France: sales in H2 2007 / H1 2008 and all previous periods; Attractiveness of markets for online aggregators and brokers in France: sales in H2 2007 / H1 2008 and all previous periods (data); Comparison of churn rates and new customers for selected financial services in France, H2 2007 / H1 2008 (data); Consumer recognition rates for online aggregators, brokers and other providers of Internet financial services in France, 2008; Consumer recognition rates for online aggregators, brokers and other providers of Internet financial services in France, 2008 (data); Consumer understanding in France of the difference between brokers of financial services and the financial institutions themselves, 2008; Consumer understanding in France of the difference between aggregators of financial services and brokers of financial services, 2008; Sample breakdown in France by age group and household income band; Sample breakdown in France by geographical location

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