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Marta Kedziora
By
November 14, 2019

The UK’s fastest growing home insurance brands

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Aviva grew more than any other home insurer in the UK in the first half of the year. Its market share is 0.8% larger than it was six months ago, according to the latest figures from Consumer Intelligence.

 

The figures are compiled from our Insurance Behaviour Tracker, which asked 6,000 home insurance customers about their renewal journeys in the first half of the year.


It was another double billing for Aviva, with QuoteMeHappy, its online only brand distributed through PCWs growing its market share by 0.5 percentage points.


Aviva’s growth follows an even stronger 1.7 ppts increase in July-December 2018 and follows the launch of their subscription based Aviva Plus, which allows customers to pay in monthly instalments for no extra cost and promises not to offer better prices to new customers.


Other top market brands including L&G, Churchill and Esure picked up the pace by 0.4 and 0.5 percentage points added, compared with 0.1 points in the second half of 2018.

Policy Expert was the only broker amongst the top ten growing home insurance brands. It also stands out as the fastest growing brand relative to its own market share. It’s showing no signs of letting up either, as we continue to see Policy Expert top the list of the most competitive brands for share of R1s on Price Comparison Websites.

The company recently bought motor specialist SureThing! and has said it plans to change its brand and model. It will be interesting to see if its growth ambitions are similar for motor.

 

Adam Powell, Policy Expert COO said: ‘We have a unique position in the industry – our business model was born digital and is driven by technological innovation that now operates on a scale to rival incumbents. Having reached half a million customers just a few months ago, we have now increased to almost 600,000 customers and have no intention of slowing down.’’

"We see huge opportunities to keep challenging the status quo by combining both our tech and our ‘customer-first’ mind-set, with this our plan is to continue to grow the business.

"In the next twelve months, we will continue to evolve our proprietary technology and deliver excellent levels of customer service. We are confident in the future of our business and our agile, highly-scalable model means we are well-placed for further growth.”


Indeed eight of the ten fastest growing brands had better than average retention rates, once again demonstrating that new business pricing is just part of what it takes to grow from a strong position.

Whilst outside of the Top 10 in absolute policy growth count, NFU Mutual, One Call and Sainsbury’s Bank grew in strong double digits relative to their smaller starting place. Competition between the 80 brands we monitor is showing no signs of letting up.

 

UK's Top 10 Fastest Growing Home Insurance Brands

Insurance Brand Brand Momentum
Aviva 0.8%
LV= 0.6%
L&G 0.5%
QuoteMeHappy 0.5%
Esure 0.5%
Churchill 0.4%
AXA 0.4%
Admiral 0.3%
Policy Expert 0.3%
Direct Line 0.3%

 

*Change in relation to pre-renewal market share, six months to 30 June 2019

 


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.

 

Learn more


 

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