Insurance Behaviour Tracker


 

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

 

Open box. bw.png  What is the 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.

IBT is an invaluable tool for companies within the General Insurance market and is used by brokers, direct insurers, and aggregators. The different modules available in IBT can be useful to different areas of your business.

Retention can be extremely helpful to pricing, distribution, channel, and relationship teams allowing you to gain an understanding of how customers behave around the renewal process, therefore arming you with the knowledge to adjust your retention strategy accordingly.

Our NPS, Customer Experience and Customer Journey modules are extremely insightful for strategy, marketing, and acquisition teams, helping you to understand how you are performing against your peers and change your approach accordingly.

 


person.png  Who is it for?

IBT is an invaluable tool for companies within the General Insurance market and is used by brokers, direct insurers and aggregators.

 


question mark.png  How does it work?

IBT informs business planning by helping you answer key questions about how consumers interact with you and with your competitors at renewal.

 


plus sign.png  Why will it give you an advantage?

IBT informs business planning by helping you answer key questions about how consumers interact with you and with your competitors at renewal.

In times of extreme change, IBT gives you knowledge of what is happening in the market, in detail, with brand level insight. Knowledge is crucial at an unprecedented time, and as it can assist in so many different teams it can align strategies and activities across the business ensuring every pound is well spent and cost savings are made.

Business impact

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Inform planning decisions

on channel strategies


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Identify opportunities to maximise retention and acquisition rates


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Evaluate competitor strategies

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Monitor and support development of
competitive strategies

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Test internal assumptions

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Understand the impact of
customer satisfaction

 


Modules

Insurance Behaviour Tracker is divided into four modules to make it easier for our customers to dive into which area of behaviour they want to understand.

 

Retention

  • Gain an understanding of how customers behave during the renewal period.
  • Understanding of what influences their decisions and how you compare to your peer group and the overall market.
  • By understanding customer behaviour you can adjust your retention strategy to maximise your opportunities.

 

Shopping Journey

  • Gain an understanding of how both the market and your own customers shop.
  • Which channels they use and what influences their decisions.
  • By aligning your marketing and overall acquisition strategy to the market could result in more new business and so, increased GWP.

Net Promoter Score

  • Gain an understanding of how you score against your peer group.
  • Follow your progress by trending your (and your peer groups) score following changes you have introduced.
  • Knowing your strengths allows you to grow and maintain these areas while understanding where you need to improve allows you to manage your resources and direct to the necessary areas.

Customer Experience

  • Gain an understanding of how your customers interact with your brand and how they rate this experience.
  • Why do customers stay (or not) and by understanding what is important to your customers allows you to make the necessary changes to better their overall experience gaining loyalty and trust.
  • Allows you to see how other brands perform so insights into how to change your approach if needed.
What we offer you

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Dedicated Consumer Intelligence consultancy service to assist you in getting the most value out of our data and specialist insights. 


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Access your data via an online portal. Data views include current and historic performance. Data can be exported to Excel depending on your needs.


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Consumer Intelligence can work with you to create personalised data and analysis to suit your business needs.


 

Do you want to find out more?