DUBLIN–(BUSINESS WIRE)–Research and Markets has announced the addition of the “UK
Insurance Aggregators 2016” report to their offering.
“UK Insurance Aggregators 2016” explores consumer purchasing behavior
through price comparison sites and how it is changing. It discovers what
is most influential to customers when selecting a policy through the
channel and reveals the brand strategies of the four leading sites. New
regulation is highlighted, as well as key factors that will influence
the aggregator market over the next few years.
New legislation is set to promote switching in a market where fewer
customers have been looking to change insurance providers. This
promotion of competition and consumer transparency will reinvigorate the
aggregator channel and make it more relevant for customers.
The use of wide most favored nation clauses has been banned. This will
make the aggregator market more competitive as insurers are no longer
prohibited from selling a policy for a lower price on another price
comparison site or channel. Currently, customers show strong loyalty to
a particular aggregator, so as aggregators start to differentiate,
customers will look to more than one at the point of renewal.
Legislation is also looking at improving the purchasing process in order
to improve transparency for customers.
There will be a greater emphasis on the value of products over the next
few years as well as further disclosure for customers at the point of
renewal. Well established in the UK, the Big Four price comparison sites
are now looking to expand beyond the dominant lines of motor and home
insurance, while brand owners are using their expertise to enter
Changing consumer habits incentivize brands to invest in technology
(most notably the mobile channel) in order to upgrade their service. The
challenge, however, is to keep the service simple in a market where
insurers have greater responsibility to obtain information and customers
show greater demand for information.
Key Topics Covered:
1. Executive Summary
2. The Aggregator Market
3. Brand Strategy Of The Big Four
4. The Market Going Forward
– Admiral Group
– BGL Group
– Beagle Street
– Competition and Markets Authority
– Financial Conduct Authority
– Money Saving Expert
– Office of Fair Trading
– UK Cinema Association
For more information visit http://www.researchandmarkets.com/research/wt4dkb/uk_insurance.
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