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

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

It examines the degree to which Spanish 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 Spain, 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 Spain 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 seven of the leading insurance comparison sites in Spain 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 Spanish 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 Spain 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 seven of the leading aggregators (namely, acierto.com, Arpem.com, kelkoo seguros, lapoliza.com, Rastreator.com, seguros.es, superbuscador) 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 Spain 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 Spain
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 18
Cross-tabulation of distribution channels and interfaces 20
Household insurance 22
Switchers and new buyers within the total 22
Distribution channels 23
Distribution interfaces 26
Cross-tabulation of distribution channels and interfaces used 28
Combined analysis of motor and household insurance 30
Devices used for online purchases 30
Overlap in usage of aggregators 31
Use of aggregators by socio-demographic group 32
Use of aggregators for other insurance products 34
Peak months for purchasing motor and household insurance 35
Awareness and usage of the leading seven aggregators 37
Consumer awareness 37
Consumer usage to research and purchase insurance 39
User conversion rates 41
Comparison of recent to historical usage 43
Planned usage of aggregators 45
3 0 APPENDIX 48
Research sample statistics 48
Research structure 50


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 Spain, 2012 7
Consumer propensity to research and purchase insurance products online in Spain, 2012 (table) 8
Consumer propensity to research and purchase insurance products online in Spain, segmented by age,
2012 9
Consumer propensity to research and purchase insurance products online in Spain, segmented by
income, 2012 10
Consumer propensity to research and purchase insurance products online in Spain, segmented by age
and income, 2012 (table) 11
Number of websites consulted by consumers in Spain when researching insurance products, 2012 12
Number of websites consulted by consumers in Spain when researching insurance products, 2008 and
2012 13
Number of websites consulted by consumers in Spain when researching insurance products, 2008 and
2012 (table) 13
% of consumers in Spain 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 Spain, 2012, 2008 and all previous
years 15
Analysis of use by consumers of cashback websites, supermarkets and other retailers, and other
distribution channels for acquiring motor insurance in Spain, 2012 16
Analysis of distribution channels used by consumers for acquiring motor insurance in Spain, 2012, 2008
and all previous years (table) 17
Analysis of distribution interfaces used by consumers for acquiring motor insurance in Spain, 2012, 2008
and all previous years 18
Analysis of distribution interfaces used by consumers for acquiring motor insurance in Spain, 2012, 2008
and all previous years (table) 19
Online buyers of motor insurance in Spain segmented by type of device used, 2012 20
Cross-tabulation of distribution channels and interfaces used for acquiring motor insurance in Spain, 2012
21
% of consumers in Spain renewing a policy, switching provider or acquiring household insurance for the
first time, 2012 22
Analysis of distribution channels used by consumers for acquiring household insurance in Spain, 2012,
2008 and all previous years 23
Analysis of use by consumers of cashback websites, supermarkets and other retailers, and other
distribution channels for acquiring household insurance in Spain, 2012 24
Analysis of distribution channels used by consumers for acquiring household insurance in Spain, 2012,
2008 and all previous years (table) 25
Analysis of distribution interfaces used by consumers for acquiring household insurance in Spain, 2012,
2008 and all previous years 26
Online buyers of household insurance in Spain segmented by type of device used, 2012 27
Analysis of distribution interfaces used by consumers for acquiring household insurance in Spain, 2012,
2008 and all previous years (table) 28
Cross-tabulation of distribution channels and interfaces used for acquiring household insurance in Spain,
2012 29
Type of online device used to acquire motor and household insurance (combined), segmented by age in
Spain, 2012 30
Type of online device used to acquire motor and household insurance (combined), segmented by age in Spain, 2012 (table) 30
Overlap between purchasers of motor and household insurance via aggregators in Spain, 2012 31
Users of aggregators to buy motor and household insurance in Spain, segmented by age, 2012 32
Users of aggregators to buy motor and household insurance in Spain, segmented by income, 2012 33
Users of aggregators to buy motor and household insurance in Spain, segmented by age and income, 2012 (table) 33
Comparison of use of aggregators for home emergency, household, motor, protection-related life and travel insurance in Spain, 2012 34
Percentage of respondents acquiring or renewing motor or household insurance in Spain, segmented by month, 2011-2012 35
Percentage of respondents acquiring or renewing motor or household insurance in Spain, segmented by month, 2011-2012 (table) 36
Comparison of consumers' reported awareness of major aggregators in Spain, 2012 38
Comparison of consumers' reported awareness of major aggregators in Spain, 2012 (table) 38
Comparison of usage by consumers of major aggregators in Spain to search for and purchase insurance, 2012 39
Comparison of usage by consumers of major aggregators in Spain to purchase insurance, 2012 40
Comparison of usage by consumers of major aggregators in Spain to search for and purchase insurance, 2012 (table) 41
Comparison of conversion rate of usage to research to usage to purchase for major aggregators in Spain, 2012 42
Comparison of percentage of consumers in Spain using major aggregators to acquire insurance within last 12 months and longer than 12 months ago, 2012 43
Comparison of percentage of consumers in Spain using major aggregators to acquire insurance within last 12 months and longer than 12 months ago, 2012 (table) 44
Likelihood of using an aggregator to acquire insurance within the next 12 months in Spain, comparing respondents that have previously used an aggregator and those that have not, 2012 46
Likelihood of using an aggregator to acquire insurance within the next 12 months in Spain, comparing respondents that have previously used an aggregator and those that have not, 2012 (table) 47
3 0 APPENDIX 48
Spain survey sample, segmented by geographical region 48
Spain survey sample, segmented by age group and by annual household income band 49

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