By Kevin Taylor

The study of 2,200 consumers across the UK reveals that 35 per cent of those interviewed always choose to buy from insurance brands that they recognise and trust, compared to just 20 per cent who buy from those offering the lowest quote on an aggregator website.

The 55+ age group is most likely to buy from insurers that they trust, with 43 per cent always buying from brands they recognise. Conversely, 18-24 year olds are most likely to select an insurer based on the lowest quote (31 per cent), compared to just 10 per cent of the 45-54 age group.

Almost half of those in the North West are likely to select an insurer based on brand recognition, while those in Northern Ireland were least bothered, with just over a quarter always purchasing insurance from a brand they trust.

Price is most attractive to consumers in Wales, and least attractive to those in the East Midlands, with figures of 32 per cent and 14 per cent respectively.

In today’s tough economic environment it’s easy to think that having the most competitive quote on a price comparison website is key. However, it’s clear from this research that while competitive pricing is important, delivering brand recognition and trust is critical. As a result, insurers and brokers, and in fact those who operate on price comparison sites across other sectors, should look to broaden their marketing spend beyond the confines of these sites to other media channels. This means implementing a multi-channel marketing campaign to successfully engage with consumers to build brand recognition and trust.

Note

The survey of 2,200 UK consumers was conducted by OnePoll on behalf of Gravytrain.

About the author

Kevin Taylor is CEO at Gravytrain. With over twenty-five years experience in and around the insurance and marketing industries, Kevin set up Gravytrain in 1999. Starting his career with General Accident (now Aviva) as a trainee, Kevin progressed into broking at The Allen & Allen Group where he spent the next ten years growing the business from sixteen staff to over three hundred, while also developing the website and online marketing activity.

Kevin was also instrumental in setting up Hyperformance Insurance, targeting the non-standard car insurance market, insuring exotic cars, convicted drivers and celebrities. Following this he co-founded full service digital agency Gravytrain and Quotesearcher.co.uk - an online lead generation service in the insurance marketplace.

About Gravytrain

Gravytrain has over 12 years experience in successfully providing a full service digital marketing offering – including search marketing (SEO/PPC), web design and development, analytics and social media. The agency is committed to delivering online campaigns that don’t just drive visitors, but paying customers to client websites. Gravytrain works with clients across a diverse range of industry sectors. Clients include: ARM Services, Bedford Insurance, Fish4, Just Landlords, Liverpool Victoria and Topgear.

www.gravytrain.co.uk