UK general insurance has suffered a few difficult years, however advertising spend as a whole remained strong. This report analyzes the total advertising spend for the general insurance industry as a whole; looks into the top 10 insurers' advertising strategies; and details the different areas of advertising spend such as sponsorship, brand building, and intermediaries.
Ensure your advertising strategy is robust against the key players in the UK general insurance market.
Gain insight into the current trends in insurer advertising strategies by channel, product, and brand.
Understand how insurers are allocating their advertising budgets with regards to sponsorship, brand building, and intermediaries.
How has UK general insurance advertising spend evolved over the 2010-12 period, and how is it expected to fare in future years?
How have the top 10 insurers in the UK allocated their advertising budgets between channels, products, and brands?
What are the most popular and effective channels to use and why?
Total general insurance advertising spend declined at a CAGR of -3.2% between 2010 and 2012. The top 10 players decreased their budgets by a larger margin, recording a -7.7% CAGR over this period.
LV=, Ageas, and Bupa were the only insurers in the group of 10 (comprising Direct Line, RSA, Aviva, Ageas, AXA, LV=, Bupa, Zurich, Allianz, and AIG) to actually increase their advertising spend between 2010 and 2012, although Bupa witnessed only a small increase in spending.
The most popular channels for insurance advertising are television and direct mail, although the strongest growth has been recorded in the online channel, due to its ever increasing popularity and penetration rates.