Studie - Channel Metrics: UK Home Emergency Insurance - Consumer Distribution Trends

The Channel Metrics briefing about home emergency insurance is the most detailed and up-to-date guide to distribution trends in home emergency insurance in the UK available on a published basis. It analyses: how consumers acquire home emergency insurance - e.g. online, telephone, post or in person; from whom they acquire them - e.g. direct from the provider, through intermediaries or affinity schemes; and how often they acquire them - i.e. how many consumers acquired home emergency insurance in the last year, either for the first time or by switching provider instead of renewing or carrying on with an existing product. Findings from this survey are compared with those from 2005 and 2007 to show trends over time.

TABLE OF CONTENTS

0.0 EXECUTIVE SUMMARY ................................................................................................................... 1

1.0 INTRODUCTION ............................................................................................................................... 3

Research rationale ................................................................................................................................ 4

A number of motivating factors underpin the Channel Metrics report and series of briefings .............. 4

Updating the results from the 2005 and 2007 surveys ........................................................................... 4

Analysis of consumers making an active distribution choice ................................................................. 4

Analysis of consumers purchasing or taking out financial services in prior years ................................. 4

Analysis of distribution interfaces ............................................................................................................. 4

Analysis of specific distribution channels................................................................................................. 5

Expanding upon the results from the 2005 and 2007 surveys ............................................................... 5

Finaccord ................................................................................................................................................ 7

Channel Metrics briefings ......................................................................................................................... 7

Other UK consumer research publications ............................................................................................. 8

UK affinity and partnership marketing research publications ................................................................. 9

UK small business financial services research publications .................................................................. 9

2.0 PRODUCT ANALYSIS .................................................................................................................... 10

Introduction .......................................................................................................................................... 11

Option for customised data analysis ................................................................................................ 11

Switching rates and brand new sales - 2009.................................................................................... 12

The annual switching rate recorded for 2009 is almost identical to that for 2005 ............................... 12

Distribution interfaces - 2009, 2007, 2005 and all previous buyers compared ........................... 13

Patterns in interface usage are driven by different home emergency insurance formulae ................ 13

Distribution channels - 2009, 2007, 2005 and all previous buyers compared ............................ 16

Overview ................................................................................................................................................ 16

Most sales of home emergency insurance occur on an intermediated basis ..................................... 16

Detailed analysis .................................................................................................................................... 19

The share of sales of electricity, gas and water companies is clearly under intense pressure .......... 19

3.0 APPENDIX ...................................................................................................................................... 22

Research sample and mechanics ...................................................................................................... 23

Research methodology and structure .............................................................................................. 25



GRAPHICS / TABLES

The financial services distribution channel universe - specific distribution channels and distribution interfaces 6

% of consumers switching provider or acquiring a home emergency insurance for the first time, 2009 12

Analysis of distribution interfaces used for acquiring home emergency insurance, 2009, 2007, 2005 and all previous

years 14

Analysis of distribution interfaces used for acquiring home emergency insurance, 2009, 2007, 2005 and all previous

years (data) 15

Overview of distribution channels used for acquiring home emergency insurance, 2009, 2007, 2005 and all

previous years 17

Overview of distribution channels used for acquiring home emergency insurance, 2007, 2005 and all previous

years (data) 18

Comparison of main distribution channels used for acquiring home emergency insurance, 2009 and all previous

years 20

Detailed analysis of distribution channels used for acquiring home emergency insurance, 2009, 2007, 2005 and all

previous years (data) 21

Sample breakdown by age group, household income band and geographical location 24



DISTRIBUTION CHANNELS INVESTIGATED FOR THIS PRODUCT

Direct sales

Insurance aggregators and brokers

namely

Aggregators

Insurance brokers

Not-for-profit affinity groups

namely

Charities

Educational institutions

Professional and trade associations

Trade unions

Financial partners

namely

Banks and building societies

Credit card issuers

Insurance companies

Non-financial commercial partners

namely

Automotive associations

Catalogue and other retailers

Electricity, gas and water companies

Estate agents

Football and other sports clubs

Loyalty schemes

Magazines, newspapers and other media entities

Post Office

Supermarkets

Worksite

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