February 7, 2015

Insights into Home Insurance digital marketing effectiveness

By Paul Laughlin

WikipediaGiven both the number of our readers who work within Financial Services and the level of interest in a past post on Motor Insurance, I’m sharing another free extract from one of Global Reviews latest tracking studies.

This time it focuses on digital marketing effectiveness in the UK Home Insurance sector.

Here are a few of their findings, together with their data visualisations…

1) Generation Y are more demanding in online requirements

Those from the 18-35 age group are more likely to want: online tools which assist them in understanding which home insurance cover that is right for them; the ability to view and manage their account online; more information about home insurance; customer ratings and reviews.

graph 1


2) The home insurance industry as a whole is making it difficult for customers to buy from them online

The industry as a whole is particularly weak at helping customers to evaluate the different home insurance policies and choose which option best suit their needs. The poorer performers across the online customer journey are Tesco Bank and AXA, with Admiral coming out weakest in four of the six stages of the online customer journey.




3) What’s driving Admiral’s score down?

Drilling down into the sub sections (graph below) you can see that there is a lot of work for the industry as a whole to do.  Admiral appears to need to improve their value proposition (scoring just 17%), their differentiation message and explaining why a customer should choose Admiral over other providers. “Returning prospects” scores 0% for Admiral, because that is not something Admiral currently incorporates on their site. Admiral also appears to have quite a bit of work to do in the area of building trust for this product/need.



4) What might Admiral be able to learn from Direct Line?

Direct Line’s homepage ranked much higher than Admiral’s because it displayed all the information, those researched, would expect to find when looking for home insurance. Participants also found Direct Line’s homepage had a visual design that was appealing. In contrast, consumers stated that the visual appeal of Admiral’s website was somewhat lacking and quite a number of consumers found the website was only geared towards car insurance.

Direct Line’s website uses both a lexical and icon based menu which increases the possibility of the consumer understanding the message which is being communicated. The website has clear signposting with a funnel process, which means that consumers intuitively know where they will be taken when they click a particular button. The multiple use of the “get a quote” call to action on the Direct Line homepage (with clever use of colour) also increases success. Their simple and clean design of the page which allow customers to understand very quickly what it going on and where to find what they need in order to move on.

I hope you found that freely available review useful. It’s a useful reminder as to the importance of research & market insight data for customer insight leaders. If you want to hear more of the detail,  you can also watch this recorded webinar:

Do let me know if you find this kind of freely available information from research & market insight agencies useful. I’m always looking for resources of interest to our readers.