UK Insurance Aggregators Market sizes and predictions for growth

MarketResearchReports.Biz presents this most up-to-date research on "UK Insurance Aggregators 2018".

"UK Insurance Aggregators 2018", report explores consumer purchasing behavior through price comparison sites and how it is changing. It discovers what is most influential to customers when selecting a policy through the channel and reveals the brand strategies of the four leading sites. Their distinct approaches to advertising are also highlighted, as well as key factors that will influence the market over the coming years - including regulation and new technology.

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The proportion of consumers using aggregators for research purposes rose in three of the four leading personal lines categories in 2017, after continuously declining for three consecutive years in all four lines. The motor and pet lines saw rises of just under 5.0 percentage points as consumers looked for savings when faced with increasing premiums in both sectors. However, this increased traffic did not necessarily lead to more purchases through price comparison websites.

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Scope

- Three of the four main aggregators reported an improved year-on-year financial performance.
- Web traffic increased but dominance in individual channels declined as consumers opted to go direct to insurers.
- Confused.com was the only aggregator to launch a large-scale campaign up to H1 2017, but Comparethemarket.com and Moneysupermarket.com released theirs later in the year.

Reasons to buy

- Adapt your distribution strategy to ensure it still meets customer purchasing behaviors.
- Ensure you remain competitive as new innovations revolutionize the consumer purchasing journey.
- Be informed of how new technology could impact the aggregator channel over the next few years.
- Read about differences in pricing between the top four comparison sites.

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Table of Contents
1. EXECUTIVE SUMMARY 2
1.1. Aggregator web traffic picks up as premiums soar 2
1.2. Key findings 2
1.3. Critical success factors 2
2. AGGREGATOR MARKET 7
2.1. Aggregators promise to save consumers time and money holds strong appeal 7
2.2. Aggregators are increasingly important as a research tool, but conversion rates are dropping 7
2.3. Financial results indicate a strong performance from aggregators 10
2.4. Price is essential, but consumers do look beyond the cheapest policy 12
2.5. The Insurance Distribution Directive aims to increase clarity 12
2.6. The FCAs renewal transparency regulation has yet to be properly enforced 13
2.7. Advisory, concierge insurtech apps could mount a challenge to aggregators 13
3. COMPARISON SITES BY CHANNEL 15
3.1. Motor 15
3.1.1. Regulation 17
3.1.2. Future market and threats 18
3.1.3. Average price varies considerably across the leading aggregators 19
3.2. Home 21
3.2.1. Clarity remains an issue in improving the home sector 25
3.3. Travel 25
3.4. Pet 27
3.4.1. Soaring premiums are sending consumers to aggregators 27
3.4.2. Clarity remains a problem in the pet sector 30
4. COMPARISON SITE PROFILES 32
4.1. Overall 32
4.1.1. Comparethemarket.com offers the cheapest premiums 33
4.2. Comparethemarket.com 33
4.2.1. Comparethemarket.com is caught up in a CMA investigation 33
4.2.2. Comparethemarket.com released strong financial results 34
4.2.3. Comparethemarket.com is on the hunt for someone to travel the world 34
4.3. Moneysupermarket.com 34
4.3.1. Moneysupermarket.com enjoyed a strong start to 2017 34
4.3.2. Moneysupermarket.com leads the way in mobile apps 35
4.4. Confused.com 35
4.4.1. Confused.com sacrificed profit for a marketing push 35
4.4.2. Confused.com is continuing its James Corden-led advertising campaign 35
4.5. Gocompare.com 36
4.5.1. Solid financial performance for Gocompare.com 36
4.5.2. Gocompare.com look towards fintech 36
5. MARKETING 37
5.1. Overall 37
5.2. Confused.com dominates advertising spend 38
5.3. Moneysupermarket.com has increased its radio advertising 39
5.4. Gocompare.coms advertising spend continues to decline 40
5.5. Comparethemarket.com spent less than 1m in H1 2017 41
6. Appendix 43
6.1. Abbreviations and acronyms 43
6.2. Definitions 43
6.2.1. Home insurance 43
6.2.2. Pet insurance 43
6.3. Methodology 43
6.3.1. GlobalDatas UK Insurance Consumer Surveys. 43
6.4. Bibliography 44
6.5. Further reading 44

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