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Consumer Motivations in the Life and Pensions Markets
Datamonitor, Aug 2002
This brief provides statistical analysis of people holding life assurance and pensions products by age, employment status, housing tenure, income, lifestage and level of consumer satisfaction. In addition, this brief identifies the dominant reasons for consumers in each of these categorie choosing a particular life assurance or pension provider.Analysis of the life and pensions markets, identifying consumer reasons for choosing a life assurance or pension provider.Statistical analysis of consumer reasons for choosing a product provider, highlighting significant differences in reasons between consumer groupings.People with incomes of £30,000 or more are the most likely to hold a life assurance product, with an above market average index of 143 in 2001. This equates to a market size of 5.43 million.Couples aged under 30 are the most likely lifestage to cite ‘cost’ as the primary reason for choosing a life assurance provider.Individuals aged between 60 and 69 are most likely to choose a pension provider for ‘distribution’ reasons than any other age group. This age group citing ‘distribution’ had an above market average index of 192 in 2001.This report gives readers in-depth analysis of which consumer segments are most likely to hold a life assurance or pension product.With the information contained in this report readers are able to identify potential consumer hot spotsThis report provides readers with comparative data on why individuals in each consumer segment choose a particular product provider.The information in the report allows readers to identify which consumers are most likely to respond well or badly to potential acquisition strategies
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