Published on : Jan 12, 2017
ALBANY, NY, Jan 12, 2017: The report presents a detailed overview of the most popular pet insurance distribution and marketing mediums in the UK and the various trends that are leading influencing decision choices of the consumer in the region. The impact of these trends on the overall development of the pet insurance market in the region is also analyzed in the report.
The market for pet insurance saw the emergence of unconventional distribution channels such as large retailers and supermarkets taking up a notable share of overall pet insurance sales in 2016. The report observes that a constantly rising number of pet owners are seeking alternative channels for obtaining pet insurance policies. Although a large number of pet owners still prefer to buy insurance directly from insurance companies, large retailers and supermarkets are benefitting from the consumers who value convenience more and are willing to buy insurance along with other products.
Much of this growth across these distribution channels can be attributed to innovative advertising and marketing strategies adopted by these groups. Direct mailing is one of the most popular marketing option owing to the vast consumer base of these channels, most of which are subscribed to their online channels.
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The report states that retail/affinity providers have emerged as the second popular distribution channel for the distribution of pet insurance in the UK. The usage of the internet, with the help of desktop computers, continues to be the most favored methods for arranging pet insurance. Although it has been observed that switching levels are currently low among consumers for pet insurance cover, many consumer are highly inclined to compare prices of pet insurance policies on aggregator platforms before continuing previous policies from insurance providers. The report finds that the cost of pet insurance continues to have a significant influence on the process of decision-making for pet consumers.
The report includes vast analytical details about the aspects that are most important for consumers when it comes to buying insurance for their pets. These details are expected to help readers and pet insurers gain an idea about the ways to improve consumer engagement and how insurers can adapt their services and products to emerge successful in the highly competitive market. The report also gives a detailed overview of the competitive landscape of the UK pet insurance market, highlighting the providers which dominate different segments and how companies are strengthening their foothold in the market through innovative products, services, and marketing strategies.
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