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PRESS RELEASE from provider: Business Wire
This content is a press release from our partner Business Wire. The AP newsroom and editorial departments were not involved in its creation.

United Kingdom Pet Insurance Distribution & Marketing Report 2018 - ResearchAndMarkets.com

March 1, 2019

DUBLIN--(BUSINESS WIRE)--Mar 1, 2019--The “UK Pet Insurance: Distribution & Marketing 2018” report has been added to ResearchAndMarkets.com’s offering.

“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.

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.

New trends and innovations are highlighted, as well as the key factors that will influence the market over the next few years.

Scope

  • Direct to insurer remains the most popular channel of distribution for pet insurance, despite a decline in share.
  • Online via desktop PCs remains the preferred method of arranging pet cover, with all offline methods declining.
  • Switching levels remain low among pet insurance customers, but a considerable number of new entrants continue to enter the market.

Reasons to buy

  • Understand consumer purchasing decisions and how these will influence the market over the next few years.
  • Improve customer engagement by recognizing what is most important to them and how to adapt products and services to satisfy their needs.
  • Discover which providers lead the way in the pet space and how providers are changing the market through new innovations.
  • Adapt your distribution strategy to ensure it still meets customer purchasing behaviors.
  • Understand advertising strategies and discover which insurers are investing the most into them.

Key Topics Covered:

  1. Executive Summary
  2. The Purchasing Journey
  3. Provider Engagement
  4. Channel View
  5. Marketing
  6. Future Market
  7. Appendix

Companies Mentioned

  • Petplan
  • Animal Friends
  • Tesco Bank
  • Pets at Home
  • Direct Line
  • Asda
  • Aviva
  • More Th>n
  • Argos
  • Healthy Pets
  • Sainsbury’s

For more information about this report visit https://www.researchandmarkets.com/research/nm67p7/united_kingdom?w=4

View source version on businesswire.com:https://www.businesswire.com/news/home/20190301005391/en/

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Related Topics:Insurance,Pet Care and Services

KEYWORD: UNITED KINGDOM EUROPE

INDUSTRY KEYWORD: PROFESSIONAL SERVICES INSURANCE CONSUMER PETS

SOURCE: Research and Markets

Copyright Business Wire 2019.

PUB: 03/01/2019 11:16 AM/DISC: 03/01/2019 11:16 AM

http://www.businesswire.com/news/home/20190301005391/en