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  4. > Channel Metrics: Consumer Distribution Trends in UK Single-Trip Travel Insurance

Channel Metrics: Consumer Distribution Trends in UK Single-Trip Travel Insurance is the most detailed and up-to-date guide to distribution trends in single-trip travel insurance in the UK available on a published basis. It analyses: how consumers acquire this product - e.g. online, telephone, post or in person; from whom they acquire it - e.g. direct from the provider, through brokers or affinity schemes; and how often they acquire it - i.e. how many consumers acquired it in 2013, either for the first time or by switching provider instead of acquiring again from the provider used previously. Findings from this survey, which represents trends in 2013, are compared with those from 2007, 2009 and 2011 to show trends over time. Furthermore, results are provided separately for all insured respondents (i.e. the 'stock'), for new buyers and switchers (i.e. those making a distribution choice in the year in question), and for customers acquiring again from the provider used previously.

Generic and specific distribution channels covered by this Channel Metrics briefing are as follows:

Direct sales

Insurance aggregators and brokers
of which
Aggregators
Insurance brokers

Not-for-profit affinity groups
of which
Charities
Educational institutions
Professional or trade associations
Sports organisations
Trade unions

Financial partners
of which
Banks or building societies
Credit card issuers

Non-financial commercial partners
of which
Airlines
Automotive associations
Cashback websites
Catalogue or other retailers
Football or other sports clubs
Loyalty schemes
Magazines, newspapers or other media
Post Office
Supermarkets
Travel companies or tour operators

Worksite

Channel Metrics: Consumer Distribution Trends in UK Single-Trip Travel Insurance is based on the results of an online survey of 1,000 consumers undertaken during December 2013.

Table Of Contents

Channel Metrics: Consumer Distribution Trends in UK Single-Trip Travel Insurance
0.0 EXECUTIVE SUMMARY 1
1.0 INTRODUCTION 2
What is this report about? 2
Rationale 2
Updating the results from previous biannual surveys 2
Analysis of consumers making an active distribution choice 2
Analysis of consumers taking out financial services in prior years 3
Analysis of distribution interfaces and channels 3
Expanding upon the results from previous surveys to reflect new distribution trends 3
Option for customised data analysis 5
Finaccord 5
Channel Metrics briefings 5
Other UK consumer research publications 5
UK affinity and partnership marketing publications 6
2.0 SURVEY FINDINGS 7
Introduction 7
Switching rates, brand new sales and renewals 7
Distribution interfaces 9
Interfaces used by all customers 9
Interfaces used by switchers and new buyers 11
Interfaces used by customers renewing a policy 13
Distribution channels 15
Channels used by all customers 15
Channels used by switchers and new buyers 18
Channels used by customers renewing a policy 20
Comparative strength of channels between sales and renewals 23
3.0 APPENDIX 24
Research sample and mechanics 24
Research methodology and structure 26

List of Graphics / Tables


0.0 EXECUTIVE SUMMARY 1
1.0 INTRODUCTION 2
The financial services distribution universe: channels and interfaces 4
2.0 SURVEY FINDINGS 7
% of consumers switching provider, acquiring single-trip travel insurance for the first time or renewing with
their existing provider, 2007, 2009, 2011 and 2013 8
% of consumers switching provider, acquiring single-trip travel insurance for the first time or renewing with
their existing provider, 2007, 2009, 2011 and 2013 (table) 9
Distribution interfaces used by all respondents holding single-trip travel insurance, 2007, 2009, 2011 and
2013 10
Distribution interfaces used by all respondents holding single-trip travel insurance, 2007, 2009, 2011 and
2013 (table) 11
Distribution interfaces used by switchers and new buyers of single-trip travel insurance, 2007, 2009, 2011
and 2013 12
Distribution interfaces used by switchers and new buyers of single-trip travel insurance, 2007, 2009, 2011
and 2013 (table) 13
Distribution interfaces used by respondents renewing single-trip travel insurance, 2007, 2009, 2011 and
2013 14
Distribution interfaces used by respondents renewing single-trip travel insurance, 2007, 2009, 2011 and
2013 (table) 15
Distribution channels used by all respondents holding single-trip travel insurance, 2007, 2009, 2011 and
2013 16
Distribution channels used by all respondents holding single-trip travel insurance, 2007, 2009, 2011 and
2013 (table) 17
Distribution channels used by switchers and new buyers of single-trip travel insurance, 2007, 2009, 2011
and 2013 18
Distribution channels used by switchers and new buyers of single-trip travel insurance, 2007, 2009, 2011
and 2013 (table) 19
Distribution channels used by respondents renewing single-trip travel insurance, 2007, 2009, 2011 and
2013 21
Distribution channels used by respondents renewing single-trip travel insurance, 2007, 2009, 2011 and
2013 (table) 22
Comparison of main distribution channels used for acquiring single-trip travel insurance, switchers and
new buyers versus renewals, 2013 23
3.0 APPENDIX 24
Sample breakdown by age group, household income band and geographical location 25

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