“UK Pet Insurance: Distribution & Marketing 2018”, report explores pet insurance purchasing behavior, and how consumer preferences are changing over time. It 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 highlighted, as well as the key factors that will influence the market over the next few years.
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Purchasing preferences moved back towards price comparison sites and brokers in 2018, after a strong shift towards the direct channel in 2017. The direct channel still leads the way by over 20 percentage points (pp) for both cats and dogs, but it has seen reductions of over 5pp in both products. Unsurprisingly, consumers continue to move towards online purchases, with smartphones and tablets becoming a serious option for buying insurance. Every non-digital method saw declines in their share for cats and dogs as a result. Petplan remains dominant despite suffering a slight decline in its share of respondent selection.
Top Leading Key Companies Mentioned:
Pets at Home
– Direct to insurer remains the most popular channel of distribution for pet insurance, despite a decline in share.
– Online via desktop PCs remains the preferred method of arranging pet cover, with all offline methods declining.
– Switching levels remain low among pet insurance customers, but a considerable number of new entrants continue to enter the market.
Reasons to buy
– Understand consumer purchasing decisions and how these will influence the market over the next few years.
– Improve customer engagement by recognizing what is most important to them and how to adapt products and services to satisfy their needs.
– Discover which providers lead the way in the pet space and how providers are changing the market through new innovations.
– Adapt your distribution strategy to ensure it still meets customer purchasing behaviors.
– Understand advertising strategies and discover which insurers are investing the most into them.
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This post was originally published on Space Market Research