Customer Segmentation in UK Insurance: Digital Lifestyles

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Society is becoming increasingly connected. Technology has allowed us to be online anytime and anywhere, through portable devices such as smart phones and tablets. This means that consumers have instant access to goods, products, and services. Connection is also extending through the Internet of Things, where big data is collected through wearable tech, connected cars, and smart homes. The result is that consumers expect and look for ever-responsive, convenient, tailored services via a channel they can access from wherever they choose. Catering for digitally active and tech-savvy individuals should be important for insurers, considering that 42% of consumers identified with the Digital Lifestyles trait according to Verdict Financials 2015 UK General Insurance Consumer Survey.

Scope

65% of under-24s were defined as having the “Digital Lifestyles” trait – a label that also represented more than half of those under 44, before dropping away among the over-50s.

Just over a third of consumers feel nervous when they’re without a Smartphone to remain “connected.”

The online channel is vital in distribution, considering that 45% of consumers identified with the Digital Consumption trait – meaning that they prefer to buy goods and services online.

Reasons to Buy

Inform your strategy with insight into the key trends and sub-trends that influence insurance consumption habits and develop a competitive advantage around consumer behavior trends.

Understand the importance of being led by the consumer in the financial services market and define your strategies with insight on what your customers really want.

Align your marketing strategies with the crucial trends influencing consumer behavior.

Aviva
Ageas
Zurich
Cocoon
Back Me Up
Direct Line
Allianz
Brolly

Table of Contents

Digital Lifestyles: Characteristics

Digital Lifestyles & UK Insurance Customers

Servicing Digital Lifestyles: Case Studies

Table

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Figures

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Frequently asked questions

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