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UK Household Insurance: Distribution and Marketing

Published By :

Verdict Financial

Published Date : Dec 2014

Category :

Advertising and Marketing

No. of Pages : 44 Pages

Summary
The household insurance market remains highly competitive due to sustained overcapacity in the market. The distribution landscape is dominated by brokers, which command 43% of market GWP. However, in terms of the number of consumers, the direct-to-insurer channel is the strongest. Price comparison sites have recently gained a foothold in the household market.


Synopsis
Gain insight on the preferred distribution channels for household insurance and the advertising platforms insurers use to complement their strategies.
Effectively engage your customers by investing in the distribution methods used for different cover types.
Gage the top household insurance brands within the contents, buildings, and combined home insurance markets.
Build an understanding of consumers' purchasing journey when buying home insurance.

ReasonsToBuy
What are the key distribution channels for the different household insurance product types?
Which platforms are preferred by customers arranging household insurance?
Which household insurance providers boosted their advertising spends in H1 2014, and which platforms did they advertise on?

Key Highlights
Brokers' share of the household insurance market increased in 2013, while banks and building societies saw their share decline.

Aggregators have become the port of call for consumers buying home insurance particularly for combined and contents-only policies.

Aviva achieved the highest brand share for home insurance, despite a decrease from 8.0% in 2013 to 6.3% in 2014.

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