Market Research Report
UK Pet Insurance: Distribution & Marketing 2017
|Published by||GlobalData||Product code||352872|
|Published||Content info||40 Pages
Delivery time: 1-2 business days
|UK Pet Insurance: Distribution & Marketing 2017|
|Published: December 5, 2017||Content info: 40 Pages||
Purchasing preferences of pet insurance customers have shifted even further towards the direct channel in 2017. Within our UK Insurance Consumer Survey, direct to insurer has increased in popularity by over 20 percentage points (pp) for both cats as well as dogs. While perhaps a less obvious fit, a presence on price comparison sites is also important, as customers use the channel both to research and purchase insurance. Over half of respondents at least conducted research via aggregators, although perhaps surprisingly purchases through these sites dropped against last year's results.
There has been a considerable shift towards customers going direct in 2017. It was the leading channel in 2016 by a small margin, whereas it is close to holding a about 30pp lead on retail and affinity, which is in the second place in 2017.The pet market appears ripe for social media usage both for interaction and as a channel of sales, with pet owners very active in this space. Bought by Many has already had some success here, but very little has been done elsewhere.
Petplan maintains a sizable lead at the top of the market, although Animal Friends has closed the gap following a strong marketing push throughout the first half of 2017. The rest of the top 10 saw little change from 2016.All of the top three providers - Petplan, Animal Friends, and Tesco Bank - recorded impressive Net Promoter Scores (NPS). Tesco outscored its two rivals, meaning it could be better placed to retain customers over the course of next year.
The report "UK Pet Insurance: Distribution & Marketing 2017", explores consumer purchasing behavior and how consumer preferences are changing over time. The report 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.
Companies mentioned in this report:Petplan, Animal Friends, Tesco Bank, Pets at Home, Direct Line, Asda, Aviva, More Th>n, Argos, Healthy Pets, Sainsbury's