Abstract
Introduction
The distribution of personal lines insurance is going through significant
changes as new distribution models challenge all providers. This report
analyzes the main distribution channels, providing unique market share
estimates and forecasts on personal lines distribution in the UK. The report
also details the market shares of the leading insurance brands based on
Datamonitor' s own consumer survey.
Scope of this research
- Datamonitor' s unique distribution estimates by channel and platform
- Forecasts for the main distribution channels up to 2013, based on
Datamonitor' s unique model, survey and interviews with industry executives
- Analysis of the main developments within each of the main distribution
channels
- Market shares of the top home and motor insurance distributors
Research and analysis highlights
An increasing number of high-profile direct motor insurance brands have
incorporated an element of a panel into their distribution model, including
the motor insurance accounts of More Th>n, AIG Direct and the RAC, which are
run by Junction.
The leading banks and building societies cut back their insurance advertising
in 2008, spending only £29.9m on their general insurance related
offering. The credit crunch has hit these distributors hardest and it is
likely that a number of bancassurers cut back their advertising efforts in
light of its effects.
In January 2009, Comparethemarket.com launched a new marketing campaign
centered around its new mascot, Aleksandr the meerkat. The distinctive
campaign is likely to have a positive impact on the company' s brand awareness
among consumers, with the company actively seeking numerous opportunities do
engage with the consumer through its meerkat theme
Key reasons to purchase this research
- Obtain a comprehensive understanding of the key trends driving changes to
personal insurance distribution in the UK
- Gain insight into the shifting consumer motivations and purchasing
strategies for personal insurance
- Plan your distribution strategy with confidence using Datamonitor' s
channel and platform distribution forecasts
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