The importance of comparison portals for insurance customers - trend study shows interesting results.

The importance of comparison portals for insurance customers - trend study shows interesting results.

According to a report by www.it-finanzmagazin.de, a current trend study examined the use of price comparison portals for insurance tariffs and the attitudes and motives of insurance customers who use these portals. The results show that every fifth insurance customer has taken out insurance through comparison portals in the last two years. In addition, one in three people have at least sought information on these portals. It was found that portal users are not guided by prices alone and that there is no single target group. This results in the recommendation for insurance companies to take a differentiated look at and take comparison portals and their users into account when designing their sales strategies.

According to the results of the study, comparison portals are playing an increasingly important role in the customer journey of insurance customers. Over 37% of insurance customers who have taken out new insurance in the last two years have previously obtained information via a comparison portal. One in five people then completed the course directly via the portal, which corresponds to a completion rate of 59%. Mostly it is property insurance, but products such as life insurance and private health insurance are also increasingly being taken out via comparison portals.

An important finding from the study is that insurance customers have a high degree of trust in the portals' recommendations. The products that perform best in the provider comparison are also the ones chosen most frequently. In addition to pricing, it is primarily the desire for comprehensive insurance coverage or a good price-performance ratio that plays a role when taking out a contract.

Another interesting result is that the popularity of providers on comparison portals is strongly influenced by brand awareness and the subjective expectations of users. Even providers who were not listed with a price at the time of the study were remembered by users and associated with the portal.

Overall, it can be said that insurance comparison portals have played an integral role in the customer journey of many customers. It is important for insurance companies to take into account the importance of these portals as information and sales channels in their sales strategies and to understand the motives of the portal user target group.

Source: www.it-finanzmagazin.de