EXECUTIVE SUMMARY
Aggregators are going through a transitional period
Key findings
Critical success factors
THE AGGREGATOR MARKET
Introduction
Aggregators are losing relevance for customers
Online research is moving away from aggregator sites
Fewer customers are using aggregators to purchase insurance
Conversion rates remain fairly steady year-on-year
Fewer customers are looking to switch provider
Customers are loyal to their aggregator but not their insurance provider
Aggregator selection is based on site familiarity, price, and search engine rank
Policy price is the key determinant for customers purchasing through an aggregator
Over 90% of customers don't look past the top 10 results of a quote
BRAND STRATEGY OF THE BIG FOUR
The Big Four are becoming the Big Two
Moneysupermarket.com and Comparethemarket.com dominate the insurance market
Big Four web traffic is increasing
Aggregators are building a connection with customers through advertising
The impact of aggregator advertising is felt more positively than negatively by consumers
Moneysupermarket.com is investing in technology to upgrade its existing service
Insurance generates over half of the Moneysupermarket.com group's revenues
Moneysupermarket.com's three-year technology-focused investment program aims to transform the customer journey on mobile devices
Moneysupermarket.com favors television advertising
Moneysupermarket.com finds its niche after #EpicStrut goes viral
Comparethemarket.com relies on marketing campaigns to keep customers engaged and loyal
Comparethemarket.com was the first of the Big Four to introduce an iconic character to market its brand
Character merchandise promotes customer loyalty and affiliation
Comparethemarket.com launches two-for-one cinema tickets with Meerkat Movies
Comparethemarket.com collaborates with the University of Sheffield to explore customer behavior
The BGL Group aims to maintain the position of Comparethemarket.com while using its marketing expertise to expand other brands
Comparethemarket.com's advertising expenditure has fallen significantly
Gocompare.com aims to make its marketing more effective, reduce costs, and expand its products lines
Gocompare.com's acquisition by esure will reinvigorate the brand
Gocompare.com aims to improve efficiency by spending less on advertising
The return of Gio Compario aims to recover brand awareness
Gocompare.com is to expand product opportunities outside of home and motor
Admiral is prioritizing expansion of its new US aggregator over Confused.com
Confused.com is trying to recover revenue losses incurred by building brand awareness like Comparethemarket.com
Confused.com follows in the footsteps of Comparethemarket.com with Brian the Robot
Social media encourages customers to interact with Brian
THE MARKET GOING FORWARD
Wide MFN contract clauses have been banned within motor insurance to promote competition
New regulations for add-on products will increase transparency for customers
Insurers will have to provide more disclosure at the point of renewal
Customers will be more aware of where their money goes
Value will become a greater focus for aggregators
Video and audio will be used to read policy terms
Aggregators will develop their mobile channels to keep up with consumer habits
APPENDIX
Abbreviations and acronyms
Definitions
Home insurance
Pet insurance
Methodology
Primary sources
Secondary sources
Bibliography
Further reading
About Verdict Financial
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