Financial services providers are beginning to establish a presence in the distribution of travel insurance policies. Many consumers are benefitting from being able to obtain a policy from their bank as part of a packaged feature with their current account. Convenience is an important attribute for modern consumers, and banks are beginning to take advantage of the fact that customers appreciate the ability to accomplish many of their financial priorities in one attempt or from one type of provider. However, the direct channel is still holding its weight, while accessing the internet from a desktop PC remains the preferred method of purchasing.
- 20.6% already had travel cover included in their financial services package.
- 29.2% obtain travel insurance directly through a price comparison site.
- Single-trip policies are generally preferred to annual cover.
- Online via PC remains the preferred method of purchase.
Verdict Financials UK Travel Insurance: Distribution and Marketing 2016 explores consumer purchasing behavior and how consumer preferences are changing over time. This report discovers what is most influential to customers when purchasing a policy and also reveals the most popular providers in the market. New trends and innovations are highlighted, as well as the key factors that will influence the travel market over the next few years.
- 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 insurers can adapt their products and services to meet their needs.
- Discover which providers lead the way in the travel insurance space and how providers are revolutionizing the market through new innovations.
- Adapt your distribution strategy to ensure it still meets customer purchasing behaviors.