Price comparison websites (PCW's) have a huge role to play in the distribution strategy of most serious insurance brands, with the exception of Direct Line and Aviva who have made a deliberate decision to market their brands directly to consumers.
Consumer Intelligence’s Insurance Behavior Tracker tool shows that 82% of motor customers shop around at renewal. Of those, 86% used a PCW, and 50% buy directly from the PCW.
Your brand could be losing out
The aggregators spend millions on driving customers to their sites, getting your brand in front of potential customers that would be far more costly to acquire directly.
But in a hugely competitive environment, they sometimes strike exclusive pricing deals with insurers – meaning your brand could be losing out on one of these key channels.
It can also be difficult to communicate what makes your product different, beyond price. So how can you refine your aggregator strategy?
Here are our 5 questions you should ask to improve your performance on price comparison websites:
- How often do I appear in the top 5 and top 10?
- Who else is around me and how far away are we in price terms?
- How strong is my brand and how strong are the brands round me?
- What offers can make my product stand out, and what are the best channels to promote this in?
- If I want to agree an exclusive pricing deal, which PCW would work best for me?
Get answers to these questions
Consumer Intelligence can answer all these questions, put your proposition in context and help manage your aggregator strategy.
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