Online insurance customers less loyal and more price sensitive, according to research
In the UK 63% of consumers have purchased motor insurance online, 45% home insurance and 23% life assurance, according to research from Accenture.
The findings revealed that over the next 12 months 69% of consumers that are switching or purchasing a new policy plan to buy motor insurance online, 58% plan to buy home insurance online and 40% life assurance.
Accenture said that UK consumers lead the rest of Europe in the extent and pace of online insurance adoption.
However, Accenture’s survey also reveals the challenges that the growth in online purchasing has raised for UK insurers.
It said that online insurance consumers are less loyal
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