Market Research Report
UK Pet Insurance: Distribution & Marketing 2018
|Published by||GlobalData||Product code||352872|
|Published||Content info||40 Pages
Delivery time: 1-2 business days
|UK Pet Insurance: Distribution & Marketing 2018|
|Published: February 19, 2019||Content info: 40 Pages||
Purchasing preferences moved back towards price comparison sites and brokers in 2018, after a strong shift towards the direct channel in 2017, as PCWs and brokers increased their presence in the market. This trend was consistent in both cat and dog insurance. The direct channel still leads the way by over 20 percentage points (pp) for both cats and dogs, but it has seen reductions of over 5pp in both products.
Unsurprisingly, consumers continue to move towards online purchases, with smartphones and tablets becoming a serious option for buying insurance. Pet owners remain very interested in a range of technologies that could be incorporated into policies. Every non-digital method saw declines in their share for cats and dogs as a result. However, uptake of these technologies has barely changed since 2017. This indicates insurers could do more to persuade customers to utilize them.
Petplan maintains a sizable lead at the top of the market, although Animal Friends has closed the gap as it pulled away from the rest of the market in 2018. Elsewhere, Aviva saw the biggest leap in share, as its increase of 2.2pp saw it move from sixth to third, as it looks to challenge the top two.
The report "UK Pet Insurance: Distribution & Marketing 2018", explores pet insurance purchasing behavior, and how consumer preferences are changing over time. It discovers what is most influential to customers when purchasing a policy and also reveals the most popular providers in the market.
New trends and innovations are highlighted, as well as the key factors that will influence the market over the next few years.