Published Date : May 15, 2017
Albany, New York, May 15, 2017: MarketResearchReports.biz has announced the addition of a new market intelligence study to its growing repository. The report assesses the development trajectory exhibited by the insurance market in the UK in the recent past and provides a comprehensive overview of the rising role of insurance aggregators in the overall workings of the UK insurance sector. Consumer purchasing behavior regarding the leading insurance aggregators in the UK is described in detail in the report, providing a handy database for interested parties in the market. The report is titled ‘UK Insurance Aggregators 2017.’
Private motor cover, home insurance, pet insurance, and travel insurance are the leading revenue generators for revenue aggregators in the UK, with private motor cover likely to remain the market leader in the coming years. The firm establishment of the automotive industry in the UK has resulted in easy availability of online trading avenues, many of which offer auto insurance during the sales process. The steady growth of the automotive market in the UK, particularly the rising disposable income of urban youth, is likely to remain an influential driver for the UK insurance aggregators sector.
The rising demand for adopting pets is likely to have a crucial impact on the UK insurance aggregators sector, as pet insurance has become a high-turnover sector in the last few years. Due to the considerable investment being made in pet care, pet insurance is likely to rise in demand over the coming years. More than half of new pet owners in the UK acquire insurance through price comparison websites, making insurance aggregators a highly relevant field.
The report looks at the promotional strategies being used by the leading players in the UK insurance aggregators sector. Despite variability in the amount dedicated to advertising, the leading four companies in the market have all launched new campaigns and are likely to invest significantly in advertising in the coming years. Leading insurance aggregators in the UK are reporting a reduction in web traffic despite sustained branding efforts, but are likely to post steady year-on-year growth.
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The rising use of online means by standalone insurance companies is a key restraint against the UK insurance aggregators sector. Due to the ease of transacting with insurance providers in one portal, many new insurance seekers could opt for directly acquiring insurance from the provider, bypassing insurance aggregators. However, insurance customers tend to stick with familiar aggregators, which could become crucial for the sector in the coming years.
Leading players in the UK insurance aggregators sector are profiled in the report to shed light on the competitive dynamics of the market. Comparethemarket.com and Moneysupermarket.com are among the leading players in the UK insurance aggregators sector, while Confused.com is reputed to offer the lowest average premium value. Other leading players in the field include Gocompare.com and Gio Compario.
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