Do aggregators help or hinder customer purhcase?

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Today's presentation at the 21st Annual International Travel Insurance Conference in Vienna.

Finaccord presents findings on online aggregators with representatives from MoneySupermarket and InsureMyTrip.

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Do aggregators help or hinder customer purhcase?

  1. 1. Do aggregators help or hinder customer purchase? Do aggregators help or hinder customer purchase? Presentation at the International Travel & Health Insurance Conference Vienna, November 4th - 7th 2013 © Finaccord Ltd., 2013 Web: www.finaccord.com, E-mail: info@finaccord.com 1
  2. 2. Do aggregators help or hinder customer purchase? Use of the internet to research insurance products Propensity of various European consumers to research personal insurance products online, 2012 Always online Often online Sometimes online Never online . 100% 80% 60% 40% 20% 0% France Germany Italy Spain UK Average Source: Aggregation Metrics © Finaccord Ltd., 2013 Web: www.finaccord.com, E-mail: info@finaccord.com 2
  3. 3. Do aggregators help or hinder customer purchase? Use of the internet to buy insurance products Propensity of various European consumers to buy personal insurance products online, 2012 Always online Often online Sometimes online Never online . 100% 80% 60% 40% 20% 0% France Germany Italy Spain UK Average Source: Aggregation Metrics © Finaccord Ltd., 2013 Web: www.finaccord.com, E-mail: info@finaccord.com 3
  4. 4. Do aggregators help or hinder customer purchase? Number of websites used when researching insurance Average number of websites consulted when researching personal insurance products online . 2008 2012 . 5 4 3 2 1 0 France Germany Italy Spain UK Average Source: Aggregation Metrics © Finaccord Ltd., 2013 Web: www.finaccord.com, E-mail: info@finaccord.com 4
  5. 5. Do aggregators help or hinder customer purchase? Use of the internet to buy stand-alone travel cover % of stand-alone travel insurance and assistance policies acquired online, 2012 est. 100% 80% 65.0% 60% 51.0% 45.0% 40% 44.2% 32.0% 28.0% 20% 0% France Germany Italy Spain UK Average Source: Travel Metrics, Finaccord estimates © Finaccord Ltd., 2013 Web: www.finaccord.com, E-mail: info@finaccord.com 5
  6. 6. Do aggregators help or hinder customer purchase? Use of aggregators to buy stand-alone travel cover % of stand-alone travel insurance and assistance policies acquired via aggregators, 2012 est. 25% 20% 15.0% 15% 10.0% 10% 8.0% 7.5% 5.0% 5% 2.5% 0% France Germany Italy Spain UK Average Source: Travel Metrics, Finaccord estimates © Finaccord Ltd., 2013 Web: www.finaccord.com, E-mail: info@finaccord.com 6
  7. 7. Do aggregators help or hinder customer purchase? What role do aggregators play in travel insurance distribution in other regions of the world? Any questions? Sources and related Finaccord publications: Aggregation Metrics: Consumer Approaches to Online Insurance Comparison Sites in Europe Channel Metrics: Consumer Distribution Trends in UK Financial and Professional Services Travel Metrics: Consumer Approaches to Travel Insurance and Assistance in Europe Travel Insurance and Assistance in the Asia-Pacific Region Travel Insurance and Assistance in North and Latin America Travel Insurance and Assistance in Northern and Central Europe Travel Insurance and Assistance in Southern and Western Europe Insurance and Assistance linked to Payment Cards and Bank Accounts in Major Global Markets Insurance and Assistance linked to Payment Cards and Bank Accounts in Northern and Central Europe Insurance and Assistance linked to Payment Cards and Bank Accounts in Southern and Western Europe © Finaccord Ltd., 2013 Web: www.finaccord.com, E-mail: info@finaccord.com 7

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