United Kingdom Motor Insurance Consumer Research Report 2021 - Almost One-Third of Consumers Impacted by COVID-19
April 06, 2021 05:38 ET | Source: Research and Markets Research and Markets Dublin, IRELAND
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In 2021, 71% of consumers said they owned car insurance, which is the same percentage as in 2019. This means around 37 million consumers own motor insurance. The penetration of consumers who own motor insurance tends to rise with age, social grade and household income.
A new customer journey begins each year. Each year, over 90% of motor insurance policyholders are existing policyholders and their choice comes down to either renewing with an existing provider (around half renew each year) or switching from one provider to another (around four-in-ten switch each year). Less than 10% of consumers embarking on a new customer journey each year are new market entrants - i.e., buying motor insuran
United Kingdom Motor Insurance Consumer Research Report 2021 - Almost One-Third of Consumers Impacted by COVID-19 globenewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from globenewswire.com Daily Mail and Mail on Sunday newspapers.
The "UK Motor Insurance Consumer Research Report 2021" report has been added to ResearchAndMarkets.com's offering. In 2021, 71% of consumers said they owned car insurance, which is the same percentage
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ResearchAndMarkets.com s offering.
In 2021, 71% of consumers said they owned car insurance, which is the same percentage as in 2019. This means around 37 million consumers own motor insurance. The penetration of consumers who own motor insurance tends to rise with age, social grade and household income.
A new customer journey begins each year. Each year, over 90% of motor insurance policyholders are existing policyholders and their choice comes down to either renewing with an existing provider (around half renew each year) or switching from one provider to another (around four-in-ten switch each year). Less than 10% of consumers embarking on a new customer journey each year are new market entrants - i.e., buying motor insurance for the first time. Even if renewing, policyholders generally still embark on a new customer journey: over eight-in-ten of policyholders renewing still search for alternatives policies and/or negotiate for a revised de
2021 UK Motor Insurance Consumer Research Report - How Price Sensitivity is Impacting the Market and how COVID-19 has Affected Behaviours and Experiences prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.