Aviva now the biggest growing car insurance brand

Aviva was the biggest growing car insurance brand in the six months to 31 March 2022, our latest momentum data shows.

Consumer Intelligence's Insurance Behaviour Tracker records the buying journey and considerations of thousands of consumers throughout the renewal process to show which providers are gaining and shedding market share.

The latest results show Aviva increased its market share by 1.7% - nearly twice as much as the next-placed grower, RAC. 

Price Comparison Website (PCW) distribution has been a key driver for Aviva’s growth – more than half their gains came from consumers who purchased via an aggregator, compared to 30% who bought direct online or over the phone. The flagship Aviva brand has been prioritised, with former online-leading product Quotemehappy losing market share, and General Accident staying static.

As brands continue to vie for position, brand stacking strategies, product innovation and pricing practice changes kick in - it has certainly been six months of change in the motor market.

While Aviva topped the charts on growth, it was pipped to the post for overall market share by LV= – officially the biggest motor insurance brand with 8.3% market share. Direct Line and Aviva now come in joint second place with 8.0% market share each. As a Group, Direct Line Group has a 14.4% market share to Aviva’s 10.5%.

UK’s biggest motor brands

Min sample = 30

Direct Line and LV= remained the biggest brands overall, helped by leading retention rates. Retention for Direct Line stood at 80% and LV’s was 75%. Meanwhile, Aviva’s retention rate was 68%, dropping to 66% for Quotemehappy and still comfortably above the industry average of 62%.

In the next six months, we’re likely to see different providers adopt very different strategies for both acquisition and retention. The cost of living crisis and continuing regulatory emphasis on fair value mean that far from settling down, the market is likely to stay in flux for some time to come… Watch this space to see the movers, shakers and growers as they emerge.

Understand consumer behaviour throughout the renewal process

Enhance decision making, performance monitoring and planning by understanding consumer behaviours, attitudes and intentions at insurance renewal.

Insurance Behaviour Tracker (IBT) is the most comprehensive insurance focused consumer survey in the market. It provides insight and understanding of consumer behaviour throughout the renewal process, giving you a view of market trends, and brand performance. This will enable you to make informed decisions to allow you to build robust marketing and business plans and track results.

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