LONDON, July 05, 2022 (GLOBE NEWSWIRE) — The “United Kingdom (UK) Private Motor Insurance – Distribution and Marketing 2021” report offered by Globaldata Plc explores consumer purchasing behavior in the private motor insurance space. New trends and innovations are highlighted, as well as the key factors that will influence the private motor insurance market over the next few years.
As part of their pre-purchase research, private motor insurance customers are increasing opting for research through providers’ websites. Other than visiting PCWs for policy comparison, customers prefer calling their existing provider and visiting their existing provider’s website. Among the leading providers of private motor insurance, the top five companies remained the same in 2021 compared to 2020. Admiral the leading provider followed by Aviva in 2021.
UK Private Motor Insurance Market Segment Analysis by Channel
Online purchasing is preferred by consumers across all channels. The internet (including both PCs and smartphones/tablets) and providers’ apps account for more than half of purchases across banks, insurers, and PCWs. The use of smartphones and tablets increased in 2021 for bank purchases, indicating a shift to more convenient digital channels amid the ongoing pandemic.
For more channel insights into the UK private motorcycle insurance market, download a report sample
UK Private Motor Insurance Advertising Spend by Media Type
- Direct Mail
- Admiral remains the leading insurance provider despite its market share declining in 2021.
- In December 2020, Admiral partnered with UK-based reverse price comparison site Honcho, with Admiral multi-car insurance now offered via Honcho’s platform
- Aviva retained second place following an increase in market share in 2021.
- The market became more concentrated and