Personal Finance News Releases
(MoneyNewsWire.Net, January 03, 2018 ) "UK Pet Insurance: Distribution & Marketing 2017", explores consumer purchasing behavior and how consumer preferences are changing over time. The report 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 market over the next few years.
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The purchasing preferences of pet insurance customers have shifted even further towards the direct channel in 2017. Within our UK Insurance Consumer Survey, direct to insurer has increased in popularity by over 20 percentage points for both cats and dogs. While perhaps a less obvious fit, a presence on price comparison sites is also important, as customers use the channel both to research and purchase insurance. Over half of respondents at least conducted research via aggregators, although perhaps surprisingly purchases through these sites dropped against last year's results. Petplan remains dominant despite suffering a slight decline in its share of respondent selection.
-Direct to insurer remains the most popular channel of distribution for pet insurance.
-Online via desktop PCs remains the preferred method of arranging pet cover, with all offline methods declining.
-Switching levels are low among pet insurance customers, and have fallen again in 2017. Many customers compare prices on aggregators before ultimately re-committing to their initial provider.
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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 satisfy their needs.
-Discover which providers lead the way in the pet space and how providers are changing the market through new innovations.
-Adapt your distribution strategy to ensure it still meets customer purchasing behaviors.
-Understand advertising strategies and discover which insurers are investing the most into them.
Pets at Home
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