Aggregation Metrics: Consumer Approaches to Insurance Comparison Sites in Spain

Based on a survey of over 1,000 consumers, Aggregation Metrics: Consumer Approaches to Online Insurance Comparison Sites in Spain offers new insights into the current development and future prospects of insurance aggregators in Spain.

It examines the degree to which Spanish consumers research and purchase any kind of insurance online plus the size of the available market for the key products of motor and household insurance, as defined by new customers and switchers; it then analyses the distribution channels and interfaces used for acquiring these policies in Spain, highlighting both the share of aggregators and the share of online sales in general, including indicators for the speed at which these are growing.

Moreover, it investigates the extent to which online insurance buyers in Spain are using tablet computers or mobile phones for this purpose, as opposed to regular laptop or desktop computers, and establishes whether propensity to use aggregators is influenced by age and / or annual household income. In addition, it benchmarks the performance of seven of the leading insurance comparison sites in Spain in terms of awareness levels, conversion rates and sales.

For many analyses, the latest data for 2012 is compared with that from a previous survey undertaken on the same subject in 2008 to show how the environment for insurance aggregators has evolved over time.

Key features of this report and the consumer data file that accompanies it include:

- unique data showing whether Spanish consumers use one, two, three or up to seven or more websites when researching insurance products;

- standardised figures illustrating distribution channels employed for acquiring motor and household insurance, differentiating between 'available' customers buying for the first time or switching provider and customers simply renewing a policy bought in a previous year;

- similar statistics showing the distribution interfaces used for the same two policy types in Spain with a split between sales in a face-to-face setting, online sales, telephone sales (both inbound and outbound) and postal sales;

- performance benchmarking for seven of the leading aggregators (namely, acierto.com, Arpem.com, kelkoo seguros, lapoliza.com, Rastreator.com, seguros.es, superbuscador) in order to indicate rates of recognition, usage to research insurance and usage to actually buy insurance;

- survey results that outline planned usage of online insurance comparison sites in Spain and how future utilisation is likely to vary between previous users of aggregators and non-users. SHOW LESS READ MORE >

0.0 EXECUTIVE SUMMARY

1.0 INTRODUCTION

What is this report about?

Rationale

European consumer research

Other international research reports

2.0 SURVEY ANALYSIS

Introduction

Consumer propensity to research and purchase insurance products online

Overview

Segmentation by age and annual household income

Number of websites consulted when researching insurance online

Motor insurance

Switchers and new buyers within the total

Distribution channels

Distribution interfaces

Cross-tabulation of distribution channels and interfaces

Household insurance

Switchers and new buyers within the total

Distribution channels

Distribution interfaces

Cross-tabulation of distribution channels and interfaces used

Combined analysis of motor and household insurance

Devices used for online purchases

Overlap in usage of aggregators

Use of aggregators by socio-demographic group

Use of aggregators for other insurance products

Peak months for purchasing motor and household insurance

Awareness and usage of the leading seven aggregators

Consumer awareness

Consumer usage to research and purchase insurance

User conversion rates

Comparison of recent to historical usage

Planned usage of aggregators

3.0 APPENDIX

Research sample statistics

Research structure

LIST OF GRAPHICS / TABLES

0.0 EXECUTIVE SUMMARY

1.0 INTRODUCTION

2.0 SURVEY ANALYSIS

Consumer propensity to research and purchase insurance products online in Spain, 2012

Consumer propensity to research and purchase insurance products online in Spain, 2012 (table)

Consumer propensity to research and purchase insurance products online in Spain, segmented by age, 2012

Consumer propensity to research and purchase insurance products online in Spain, segmented by income, 2012

Consumer propensity to research and purchase insurance products online in Spain, segmented by age and income, 2012 (table)

Number of websites consulted by consumers in Spain when researching insurance products, 2012

Number of websites consulted by consumers in Spain when researching insurance products, 2008 and 2012

Number of websites consulted by consumers in Spain when researching insurance products, 2008 and 2012 (table)

% of consumers in Spain renewing a policy, switching provider or acquiring motor insurance for the first time, 2012

Analysis of distribution channels used for acquiring motor insurance in Spain, 2012, 2008 and all previous years

Analysis of use by consumers of cashback websites, supermarkets and other retailers, and other distribution channels for acquiring motor insurance in Spain, 2012

Analysis of distribution channels used by consumers for acquiring motor insurance in Spain, 2012, 2008 and all previous years (table)

Analysis of distribution interfaces used by consumers for acquiring motor insurance in Spain, 2012, 2008 and all previous years

Analysis of distribution interfaces used by consumers for acquiring motor insurance in Spain, 2012, 2008 and all previous years (table)

Online buyers of motor insurance in Spain segmented by type of device used, 2012

Cross-tabulation of distribution channels and interfaces used for acquiring motor insurance in Spain, 2012

% of consumers in Spain renewing a policy, switching provider or acquiring household insurance for the first time, 2012

Analysis of distribution channels used by consumers for acquiring household insurance in Spain, 2012, 2008 and all previous years

Analysis of use by consumers of cashback websites, supermarkets and other retailers, and other distribution channels for acquiring household insurance in Spain, 2012

Analysis of distribution channels used by consumers for acquiring household insurance in Spain, 2012, 2008 and all previous years (table)

Analysis of distribution interfaces used by consumers for acquiring household insurance in Spain, 2012, 2008 and all previous years

Online buyers of household insurance in Spain segmented by type of device used, 2012

Analysis of distribution interfaces used by consumers for acquiring household insurance in Spain, 2012, 2008 and all previous years (table)

Cross-tabulation of distribution channels and interfaces used for acquiring household insurance in Spain, 2012

Type of online device used to acquire motor and household insurance (combined), segmented by age in Spain, 2012

Type of online device used to acquire motor and household insurance (combined), segmented by age in Spain, 2012 (table)

Overlap between purchasers of motor and household insurance via aggregators in Spain, 2012

Users of aggregators to buy motor and household insurance in Spain, segmented by age, 2012

Users of aggregators to buy motor and household insurance in Spain, segmented by income, 2012

Users of aggregators to buy motor and household insurance in Spain, segmented by age and income, 2012 (table)

Comparison of use of aggregators for home emergency, household, motor, protection-related life and travel insurance in Spain, 2012

Percentage of respondents acquiring or renewing motor or household insurance in Spain, segmented by month, 2011-2012

Percentage of respondents acquiring or renewing motor or household insurance in Spain, segmented by month, 2011-2012 (table)

Comparison of consumers' reported awareness of major aggregators in Spain, 2012

Comparison of consumers' reported awareness of major aggregators in Spain, 2012 (table)

Comparison of usage by consumers of major aggregators in Spain to search for and purchase insurance, 2012

Comparison of usage by consumers of major aggregators in Spain to purchase insurance, 2012

Comparison of usage by consumers of major aggregators in Spain to search for and purchase insurance, 2012 (table)

Comparison of conversion rate of usage to research to usage to purchase for major aggregators in Spain, 2012

Comparison of percentage of consumers in Spain using major aggregators to acquire insurance within last 12 months and longer than 12 months ago, 2012

Comparison of percentage of consumers in Spain using major aggregators to acquire insurance within last 12 months and longer than 12 months ago, 2012 (table)

Likelihood of using an aggregator to acquire insurance within the next 12 months in Spain, comparing respondents that have previously used an aggregator and those that have not, 2012

Likelihood of using an aggregator to acquire insurance within the next 12 months in Spain, comparing respondents that have previously used an aggregator and those that have not, 2012 (table)

3.0 APPENDIX

Spain survey sample, segmented by geographical region

Spain survey sample, segmented by age group and by annual household income band