The AA was the biggest growing car insurance brand in the six months to April 2023, boasting a 1.2% increase in market share, 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.
This latest set of data demonstrates the AA’s success in meeting its aim to increase its market share in the UK general insurance market.
In its annual report and accounts for the financial year ending January 2023, the AA confirmed that it had made progress in this area, with a 4% increase in motor policies in force, whilst ‘carefully balancing growth with profitability and management of claims inflation’.
Hot on its heels is on the momentum score board Aviva – a brand that features heavily on the AA’s underwriting panel - with a 1.1% growth in market share.
|
Momentum |
Nov-22 to Apr-22 |
|
AA |
1.2% |
|
Aviva |
1.1% |
|
LV |
0.9% |
|
AXA |
0.7% |
|
1st Central |
0.7% |
|
Admiral |
0.6% |
|
Tesco |
0.5% |
|
Ford |
0.4% |
|
Hastings |
0.3% |
|
Flow |
0.3% |
Min sample = 30
Whilst the AA may have pipped Aviva to the post on momentum, it’s got a way to go to beat Aviva and the other large incumbents which frequently dominate the top of the market share leader board.
Price Comparison Website (PCW) distribution has been a key driver for Aviva’s growth since the latter part of 2020. In its January 2023 report, Aviva stated that it had grown retail distribution to become the dominant channel and has plans to grow PCW and Direct further through its ‘own brand’ strategy alongside its Aviva Zero product between now and 2027.
|
Market share |
Nov-22 to Apr-22 |
|
Aviva |
8.3% |
|
Admiral |
8.2% |
|
LV |
7.3% |
|
Direct Line |
7.0% |
|
Hastings |
6.7% |
|
AA |
5.9% |
|
Churchill |
5.5% |
|
AXA |
5.0% |
|
Tesco |
3.6% |
|
Saga |
2.5% |
Min sample = 30
However, there seems to be room for improvement on the retention side of the equation for both the AA and Aviva. At the top of the retention leader board sits One Call – a brand working hard to keep hold of its customers. Our data reveals that around a quarter of retained One Call customers had their best quote matched at renewal. In contrast, only 12% of retained AA customers and 10% of Aviva customers said the same.
|
Retention |
Nov-22 to Apr-22 |
|
One call |
82.6% |
|
LV |
80.3% |
|
Direct Line |
79.6% |
|
Admiral |
79.0% |
|
RIAS |
76.5% |
|
AA |
75.0% |
|
Ageas |
73.0% |
|
AXA |
72.4% |
|
Saga |
68.4% |
|
Aviva |
67.9% |
Min sample = 30
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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