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Relative share of visits to UK

insurance websites

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This PowerPoint chart shows the relative share of visits UK insurance websites, based on the Hitwise Insurance category.  Note the four out of the top five indicated in blue.  They are all aggregators (comparison websites).  Aggregators have taken the place of the online insurance broker.  This is the result of massive TV advertising.  There are now 9 online insurance aggregators in the UK each spending between £10M to £25M on marketing in 2009, the majority of which is spent on TV advertising.  This is a very good example of the power of TV advertising to drive online visits.  Only time will tell whether there is enough UK insurance business to sustain this amount of money on advertising.  Keep an eye out for some kind of shake up amongst aggregators or at a minimum a decline in visits and therefore business of those with smaller pockets.  There is very little loyalty amongst consumers for any particular aggregator and it really is a situation of keeping top of mind at minimal expenditure.  That’s one reason Comparethemarket’s meerkat campaign has been so successful.  This has cut through the media clutter and now Comparethemarket has fifth position in the top 5 share of insurance visits. At number 2 position on the chart coloured green, is Tesco Personal Finance.  Tesco’s position is as a result of having one the strongest retail brands in the UK and the formation of the Tesco Bank.  With the discrediting of many UK Financial Institutions, Tesco is taking advantage of the situation.  Working with their insurance partner Fortis, Tesco Bank already has 1.5 million insurance customers.  Tesco’s partnership with Fortis was a result of replacing Royal Bank of Scotland as Tesco’s insurance underwriter.  Tesco has the brand credibility to sell virtually anything in the UK and expect their product range to keep widening. In third position, Gocompare more than doubled their TV advertising in 2008 up from just under £10M in 2007 to £22.5M in 2008.  As a consequence they have just nosed ahead Confused in number of consumer visits.  As David Stevens, Admiral’s COO (Admiral own Confused) said in the 2008 Company Report and Accounts; “A year ago there were two price comparison sites advertising on television – Confused and MoneySupermarket.com.  Now there are nine.” The marketing battle of the insurance aggregators will continue so expect all their advertising agencies to redouble their creative efforts.  Currently, I don’t think Comparethemarket’s meerkat has much to worry about from Gocompare’s me-too campaign featuring Gio Compario.  A few months of Internet traffic data will shortly supply the answer. September 2009
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Relative share of visits

to UK insurance

websites

This PowerPoint chart shows the relative share of visits UK insurance websites, based on the Hitwise Insurance category.  Note the four out of the top five indicated in blue.  They are all aggregators (comparison websites).  Aggregators have taken the place of the online insurance broker.  This is the result of massive TV advertising.  There are now 9 online insurance aggregators in the UK each spending between £10M to £25M on marketing in 2009, the majority of which is spent on TV advertising.  This is a very good example of the power of TV advertising to drive online visits.  Only time will tell whether there is enough UK insurance business to sustain this amount of money on advertising.  Keep an eye out for some kind of shake up amongst aggregators or at a minimum a decline in visits and therefore business of those with smaller pockets.  There is very little loyalty amongst consumers for any particular aggregator and it really is a situation of keeping top of mind at minimal expenditure.  That’s one reason Comparethemarket’s meerkat campaign has been so successful.  This has cut through the media clutter and now Comparethemarket has fifth position in the top 5 share of insurance visits. At number 2 position on the chart coloured green, is Tesco Personal Finance.  Tesco’s position is as a result of having one the strongest retail brands in the UK and the formation of the Tesco Bank.  With the discrediting of many UK Financial Institutions, Tesco is taking advantage of the situation.  Working with their insurance partner Fortis, Tesco Bank already has 1.5 million insurance customers.  Tesco’s partnership with Fortis was a result of replacing Royal Bank of Scotland as Tesco’s insurance underwriter.  Tesco has the brand credibility to sell virtually anything in the UK and expect their product range to keep widening. In third position, Gocompare more than doubled their TV advertising in 2008 up from just under £10M in 2007 to £22.5M in 2008.  As a consequence they have just nosed ahead Confused in number of consumer visits.  As David Stevens, Admiral’s COO (Admiral own Confused) said in the 2008 Company Report and Accounts; “A year ago there were two price comparison sites advertising on television – Confused and MoneySupermarket.com.  Now there are nine.” The marketing battle of the insurance aggregators will continue so expect all their advertising agencies to redouble their creative efforts.  Currently, I don’t think Comparethemarket’s meerkat has much to worry about from Gocompare’s me-too campaign featuring Gio Compario.  A few months of Internet traffic data will shortly supply the answer. September 2009
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