PUBLISHER: GlobalData | PRODUCT CODE: 1511553
PUBLISHER: GlobalData | PRODUCT CODE: 1511553
This report explores ever-changing consumer purchasing behaviors through price comparison websites. It identifies the most influential factors for customers when selecting a policy through this channel. The report discusses the brand strategies and marketing approaches of the four leading sites. It also compares quotes provided by the leading aggregators for selected risk profiles across the key life and non-life insurance lines.
Motor and home insurance remain the policies most commonly acquired via price comparison websites (PCWs), despite witnessing downturns of 3 percentage points (pp) and 2.7pp in purchasing activity in 2023. However, the use of PCWs for research purposes is growing, with an increase observed in five of the seven lines of business. This trend is likely driven by the current cost-of-living crisis, which has compelled consumers to seek out increased value on these platforms. However, it is important to note that while research on PCWs has increased, the likelihood of consumers finalizing a purchase through these sites has diminished compared to 2022.