UK Household Insurance: Distribution & Marketing 2018
UK Household Insurance: Distribution & Marketing 2018, 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 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.
The report notes that purchasing household insurance direct from an insurer was the most popular method in 2018, although there was increased competition from price comparison sites due to the proliferation of online purchasing methods. Providers should strive to increase customer satisfaction levels, as poor satisfaction coupled with high levels of competition may lead to providers losing market share.
Purchasing household insurance online is now more popular than ever. There was a slight decrease in online purchases conducted via a PC, which was offset by a substantial increase in the number of smartphone and tablet purchases. Providers should ensure they have strong mobile platforms in order to stay relevant in the future.
There is also continued competition within the market for all products (contents, buildings, and combined) as the top 10 providers from 2017 were challenged by new entrants in 2018.
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