[ad_1]
The advertising spending on UK private motor insurance was GBP100.6 million in 2020
LONDON, July 05, 2022 (GLOBE NEWSWIRE) — The “United Kingdom (UK) Private Motor Insurance – Distribution and Marketing 2021” report offered by Globaldata Plc explores consumer purchasing behavior in the private motor insurance space. New trends and innovations are highlighted, as well as the key factors that will influence the private motor insurance market over the next few years.
As part of their pre-purchase research, private motor insurance customers are increasingly opting for research through providers’ websites. Other than visiting PCWs for policy comparison, customers prefer calling their existing provider and visiting their existing provider’s website. Among the leading providers of private motor insurance, the top five companies remained the same in 2021 compared to 2020. Admiral remained the leading provider followed by Aviva in 2021.
UK Private Motor Insurance Market Segment Analysis by Channel
Online purchasing is preferred by consumers across all channels. The internet (including both PCs and smartphones/tablets) and providers’ apps account for more than half of purchases across banks, insurers, and PCWs. The use of smartphones and tablets increased in 2021 for bank purchases, indicating a shift to more convenient digital channels amid the ongoing pandemic.
For more channel insights into the UK private motor insurance market, download a report sample
UK Private Motor Insurance Advertising Spend by Media Type
-
TV
-
Direct Mail
-
Press
-
Digital
-
Others
For more distribution and marketing insights on the UK private motor insurance market, download a report sample
Competitive Landscape
-
Admiral remained the leading insurance provider despite its market share declining in 2021.
-
In December 2020, Admiral partnered with UK-based reverse price comparison site Honcho, with Admiral multi-car insurance now offered via Honcho’s platform
-
Aviva retained second place following an increase in market share in 2021.
-
The market became more concentrated and less competitive in 2021, with the market share of the top 10 private motor insurers rising from 2020 to 2021.
-
Direct Line has the lowest proportion of detractors among the top three providers. This suggests it is well-positioned to grow its market share in the coming years.
-
Compare the Market is the leading PCW, accounting for over half of sales
Leading Private Motor Insurance Providers in the UK
-
Admiral
-
Aviva
-
Direct Line
-
Hastings Direct
-
LV=
-
Churchill
-
AXA
-
Saga
-
Tesco Bank
-
The AA
UK Private Motor Insurance Market Share, by Leading Providers
To know more about leading companies in the UK private motor insurance market, download a sample report
Leading PCWs in the UK Private Motor Insurance Market
-
Compare the Market
-
GoCompare
-
MoneySuperMarket
-
Confused.com
UK Private Motor Insurance Market Share, by Leading PCWs
To know more about leading PCWs in the UK private motor insurance market, download a sample report
UK Private Motor Insurance Market Report Scope
This report offered explores consumer purchasing behavior in the private motor insurance space. New trends and innovations are highlighted, as well as the key factors that will influence the private motor insurance market over the next few years.
Reasons to Buy
-
Understand consumer purchasing decisions and how these will influence the private motor market over the next few years.
-
Improve customer engagement by recognizing what is most important to them and how insurers can adapt their products and services to meet their needs.
-
Compare the Net Promoter Scores of the leading motor insurance providers.
-
Discover which providers lead the way in the private motor insurance space and learn about new product innovations.
-
Adapt your distribution strategy to ensure it still meets customer purchasing behaviors.
Related Reports
-
Life Insurance Sector Scorecard – Thematic Research – Click here
-
United Kingdom (UK) Directors and Officers Insurance Market Size, Competitive Landscape, Product Analysis and Forecast, 2021-2025 – Thematic Research – Click here
-
Non-Life Insurance Sector Scorecard – Thematic Research – Click here
-
Germany Wealth Management – Market Sizing and Opportunities to 2026 – Click here
-
Automated Home in Insurance – Thematic Research – Click here
UK Private Motor Insurance Market Overview
Key Channels |
Bank, Broker, Insurance, and PCW |
Key Advertising Medium |
TV, Direct Mail, Press, Digital, and Others |
Leading Providers |
Admiral, Aviva, Direct Line, Hastings Direct, LV=, Churchill, Saga, Tesco Bank, and The AA |
Leading PCWs |
Compare the Market, GoCompare, MoneySuperMarket, and Confused.com |
FAQs
What are the key channels in the UK private motor insurance market?
The key channels in the UK private motor insurance market are bank, broker, insurance, and PCW.
What are the key advertising mediums in the UK private motor insurance market?
The key advertising mediums in the UK private motor insurance market are TV, direct mail, press, and digital.
Which are the leading providers in the UK private motor insurance market?
The leading private motor insurance providers in the UK are Admiral, Aviva, Direct Line, Hastings Direct, LV=, Churchill, Saga, Tesco Bank, and The AA.
Which are the leading PCWs in the UK private motor insurance market?
The leading PCWs in the UK private motor insurance market are Compare the Market, GoCompare, MoneySuperMarket, and Confused.com
Table of Contents
Executive Summary
The Purchasing Journey
Provider Engagement
Channel View
Marketing
Future Market
Appendix
About us
GlobalData is a leading provider of data, analytics, and insights on the world’s largest industries. In an increasingly fast-moving, complex, and uncertain world, it has never been harder for organizations and decision makers to predict and navigate the future. This is why GlobalData’s mission is to help our clients to decode the future and profit from faster, more informed decisions. As a leading information services company, thousands of clients rely on GlobalData for trusted, timely, and actionable intelligence. Our solutions are designed to provide a daily edge to professionals within corporations, financial institutions, professional services, and government agencies.
Media Contacts
GlobalData
Mark Jephcott
Head of PR EMEA
mark.jephcott@globaldata.com
cc: pr@globaldata.com
+44 (0)207 936 6400
[ad_2]
Source link