UK Private Motor Insurance Market report explores consumer purchasing behavior, and how preferences are changing over time. It discovers what is most influential to customers when purchasing a policy, and also reveals the most popular providers in the market. New trends and innovations are highlighted, as well as the key factors that will influence the private motor insurance market over the next few years.
The purchasing preferences of private motor insurance customers changed in 2018. Price comparison websites (PCWs) are now the most popular channel, used by 37.4% of respondents. In a period of record high premiums, customer loyalty has waned: 63.4% of respondents used a PCW to conduct research before buying their latest policy. With the rising prominence of PCWs, more customers are also shifting their purchasing methods online, with approximately 70% of respondents purchasing their motor insurance policy either on a PC or handheld device.
– 37.4% of private motor insurance customers purchased via a price comparison website in 2018.
– 69.8% of customers purchased online.
– 13.2% of customers held a policy with Admiral.
– 72.5% of customers shopped around at last renewal.
Reasons to buy
– Understand consumer purchasing decisions and how these will influence the market over the next few years.
– Improve customer engagement by recognizing what is most important to them and how to adapt products and services to meet their needs.
– Learn which providers lead the way in the private motor insurance space.
– Discover which insurers spend the most on advertising and which channels they are using.
Category: Finance and Banking Market
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