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  5. > UK Household Insurance: Distribution and Marketing

UK Household Insurance: Distribution and Marketing

  • February 2016
  • -
  • Verdict Financial
  • -
  • 69 pages

Summary
Household insurance is an optional personal lines product that customers purchase in order to protect their properties and contents against accidental damage. Home insurance can be bought in two parts - buildings insurance and contents insurance. Customers can choose either one or both of these based on their needs. Buildings cover insures the customer's bricks and mortar for events such as fire and weather damage, while contents cover is designed to protect the policy holder's belongings against incidents including theft, damage, and loss. Customers also have the option of purchasing a combined policy, which in some cases can be cheaper than buying two separate products.

Key Findings
- Aggregators remain a popular channel, but the majority of household insurance customers prefer to purchase directly from an insurer.

- Arranging cover over the phone and internet are the top two methods used across all of the distribution channels.

- Direct mail is the most prominent advertising and marketing medium used by home insurers.

Synopsis
Verdict Financial's “UK Household Insurance: Distribution and Marketing” explores consumer purchasing behavior and how it is developing within the three home markets: contents, buildings, and combined. This 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 also highlighted, as well as the key factors that will affect the home insurance market over the coming years.

Reasons To Buy
- To understand consumer purchasing decisions and understand how these will influence product distribution in the market over the coming years.

- To improve customer engagement by recognizing what is most important to policy holders and how insurers can adapt their products and services to meet their needs.

- To discover the top providers of home insurance and how the rankings have changed over the last three years.

- Adapt your distribution strategy to ensure it aligns with customer purchasing habits and behaviors.

Table Of Contents

UK Household Insurance: Distribution and Marketing
Table of Contents
The Purchasing Journey
Insurer Selection, Loyalty, and Switching
Purchasing Channels
Marketing Activity and Future Developments
Data Tables
Appendix

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