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  4. > Aggregation Metrics: Consumer Approaches to Insurance Comparison Sites in Germany

Based on a survey of over 1,000 consumers, Aggregation Metrics: Consumer Approaches to Online Insurance Comparison Sites in Germany offers new insights into the current development and future prospects of insurance aggregators in Germany.

It examines the degree to which German consumers research and purchase any kind of insurance online plus the size of the available market for the key products of motor and household insurance, as defined by new customers and switchers; it then analyses the distribution channels and interfaces used for acquiring these policies in Germany, highlighting both the share of aggregators and the share of online sales in general, including indicators for the speed at which these are growing.

Moreover, it investigates the extent to which online insurance buyers in Germany are using tablet computers or mobile phones for this purpose, as opposed to regular laptop or desktop computers, and establishes whether propensity to use aggregators is influenced by age and / or annual household income. In addition, it benchmarks the performance of eight of the leading insurance comparison sites in Germany in terms of awareness levels, conversion rates and sales.

For many analyses, the latest data for 2012 is compared with that from a previous survey undertaken on the same subject in 2008 to show how the environment for insurance aggregators has evolved over time.

Key features of this report and the consumer data file that accompanies it include:

- unique data showing whether German consumers use one, two, three or up to seven or more websites when researching insurance products;

- standardised figures illustrating distribution channels employed for acquiring motor and household insurance, differentiating between 'available' customers buying for the first time or switching provider and customers simply renewing a policy bought in a previous year;

- similar statistics showing the distribution interfaces used for the same two policy types in Germany with a split between sales in a face-to-face setting, online sales, telephone sales (both inbound and outbound) and postal sales;

- performance benchmarking for eight of the leading aggregators (namely, CHECK24, ComVerso, easyVersicherungsvergleich, EINSURANCE, FinanceScout24, TarifCheck24, transparo and Versicherungen.de) in order to indicate rates of recognition, usage to research insurance and usage to actually buy insurance;

- survey results that outline planned usage of online insurance comparison sites in Germany and how future utilisation is likely to vary between previous users of aggregators and non-users.

Table Of Contents

Aggregation Metrics: Consumer Approaches to Insurance Comparison Sites in Germany
Table of Contents

0 0 EXECUTIVE SUMMARY 1
1 0 INTRODUCTION 2
What is this report about? 2
Rationale 2
European consumer research 2
Other international research reports 4
2 0 SURVEY ANALYSIS 6
Introduction 6
Consumer propensity to research and purchase insurance products online 7
Overview 7
Segmentation by age and annual household income 9
Number of websites consulted when researching insurance online 12
Motor insurance 14
Switchers and new buyers within the total 14
Distribution channels 15
Distribution interfaces 17
Cross-tabulation of distribution channels and interfaces 19
Household insurance 21
Switchers and new buyers within the total 21
Distribution channels 22
Distribution interfaces 25
Cross-tabulation of distribution channels and interfaces used 28
Combined analysis of motor and household insurance 29
Devices used for online purchases 29
Overlap in usage of aggregators 30
Use of aggregators by socio-demographic group 31
Use of aggregators for other insurance products 33
Peak months for purchasing motor and household insurance 34
Awareness and usage of the leading eight aggregators 36
Consumer awareness 36
Consumer usage to research and purchase insurance 38
User conversion rates 40
Comparison of recent to historical usage 42
Planned usage of aggregators 44
3 0 APPENDIX 47
Research sample statistics 47
Research structure 49


LIST OF GRAPHICS / TABLES
0 0 EXECUTIVE SUMMARY 1
1 0 INTRODUCTION 2
2 0 SURVEY ANALYSIS 6
Consumer propensity to research and purchase insurance products online in Germany, 2012 7
Consumer propensity to research and purchase insurance products online in Germany, 2012 (table) 8
Consumer propensity to research and purchase insurance products online in Germany, segmented by age, 2012 9
Consumer propensity to research and purchase insurance products online in Germany, segmented by income, 2012 10
Consumer propensity to research and purchase insurance products online in Germany, segmented by age and income, 2012 (table) 11
Number of websites consulted by consumers in Germany when researching insurance products, 2012 12
Number of websites consulted by consumers in Germany when researching insurance products, 2008 and 2012 13
Number of websites consulted by consumers in Germany when researching insurance products, 2008 and 2012 (table) 13
% of consumers in Germany renewing a policy, switching provider or acquiring motor insurance for the first time, 2012 14
Analysis of distribution channels used for acquiring motor insurance in Germany, 2012, 2008 and all previous years 15
Analysis of distribution channels used by consumers for acquiring motor insurance in Germany, 2012, 2008 and all previous years (table) 16
Analysis of distribution interfaces used by consumers for acquiring motor insurance in Germany, 2012, 2008 and all previous years 17
Analysis of distribution interfaces used by consumers for acquiring motor insurance in Germany, 2012, 2008 and all previous years (table) 18
Online buyers of motor insurance in Germany segmented by type of device used, 2012 19
Cross-tabulation of distribution channels and interfaces used for acquiring motor insurance in Germany, 2012 20
% of consumers in Germany renewing a policy, switching provider or acquiring household insurance for the first time, 2012 21
Analysis of distribution channels used by consumers for acquiring household insurance in Germany, 2012, 2008 and all previous years 22
Analysis of use by consumers of cashback websites, supermarkets and other retailers, and other distribution channels for acquiring household insurance in Germany, 2012 23
Analysis of distribution channels used by consumers for acquiring household insurance in Germany, 2012, 2008 and all previous years (table) 24
Analysis of distribution interfaces used by consumers for acquiring household insurance in Germany, 2012, 2008 and all previous years 25
Online buyers of household insurance in Germany segmented by type of device used, 2012 26
Analysis of distribution interfaces used by consumers for acquiring household insurance in Germany, 2012, 2008 and all previous years (table) 27
Cross-tabulation of distribution channels and interfaces used for acquiring household insurance in Germany, 2012 28
Type of online device used to acquire motor and household insurance (combined), segmented by age in Germany, 2012 29
Type of online device used to acquire motor and household insurance (combined), segmented by age in Germany, 2012 (table) 29
Overlap between purchasers of motor and household insurance via aggregators in Germany, 2012 30
Users of aggregators to buy motor and household insurance in Germany, segmented by age, 2012 31
Users of aggregators to buy motor and household insurance in Germany, segmented by income, 2012 32
Users of aggregators to buy motor and household insurance in Germany, segmented by age and income, 2012 (table) 32
Comparison of use of aggregators for home emergency, household, motor, protection-related life and travel insurance in Germany, 2012 33
Percentage of respondents acquiring or renewing motor or household insurance in Germany, segmented by month, 2011-2012 34
Percentage of respondents acquiring or renewing motor or household insurance in Germany, segmented by month, 2011-2012 (table) 35
Comparison of consumers' reported awareness of major aggregators in Germany, 2012 37
Comparison of consumers' reported awareness of major aggregators in Germany, 2012 (table) 37
Comparison of usage by consumers of major aggregators in Germany to search for and purchase insurance, 2012 38
Comparison of usage by consumers of major aggregators in Germany to purchase insurance, 2012 39
Comparison of usage by consumers of major aggregators in Germany to search for and purchase insurance, 2012 (table) 40
Comparison of conversion rate of usage to research to usage to purchase for major aggregators in Germany, 2012 41
Comparison of percentage of consumers in Germany using major aggregators to acquire insurance within last 12 months and longer than 12 months ago, 2012 42
Comparison of percentage of consumers in Germany using major aggregators to acquire insurance within last 12 months and longer than 12 months ago, 2012 (table) 43
Likelihood of using an aggregator to acquire insurance within the next 12 months in Germany, comparing respondents that have previously used an aggregator and those that have not, 2012 45
Likelihood of using an aggregator to acquire insurance within the next 12 months in Germany, comparing respondents that have previously used an aggregator and those that have not, 2012 (table) 46
3 0 APPENDIX 47
Germany survey sample, segmented by geographical region 47
Germany survey sample, segmented by age group and by annual household income band 48

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