Table of Contents
Scope and Themes
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- What you need to know
- Data sources
- Consumer survey data
- Comperemedia
- Abbreviations and terms
- Abbreviations
- Terms
- Companies mentioned in this report:
Executive Summary
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- The market
- Net written premium is level over last five years
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- Figure 1: Net premiums written, property & casualty life/health insurance, 2005-10
- Companies and brands
- The big three in auto are State Farm, GEICO, and Allstate
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- Figure 2: Insurance provider for auto, homeowners and renters insurance, overall, June 2012
- Notable innovations
- Product innovations – P&C
- Product innovations – Life insurers and annuities
- Innovations in health insurance and wellness
- Online and mobile innovations
- Innovations focusing on community interaction
- Data analytics initiatives
- Other innovative initiatives
- The consumer
- Switching behavior and the importance of quality claims service
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- Figure 3: Attitudes about insurance, filing claims, renewals, overall (agree strongly or somewhat) June 2012
- Who is downloading apps? (by type of insurance)
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- Figure 4: Percentage of respondents who are mobile users who have downloaded an insurance app, by type of insurance, June 2012
- Who is downloading auto insurance apps?
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- Figure 5: Percentage of respondents who have downloaded an auto insurance app, by gender/age, income, race/Hispanic origin, area, June 2012
- The appeal of safe-driving devices
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- Figure 6: Interest in safe-driving devices, by presence of children in the household, June 2012
- The consumer, telematics, and sensors
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- Figure 7: Ownership of, and interest in automobile telematics and sensors, overall, June 2012
- Health and wellness programs
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- Figure 8: Health and wellness programs offered by employer and participation, overall, June 2012
- Cluster analysis of the consumer data
- What we think
Issues in the Market
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- Insurers taking a more holistic view of the customer
- Commoditization is out, added value is in
- Industry analytics
Insights and Opportunities
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- Key points
- Future impact of telematics and sensors
- More consistent regulations – and more of them?
- Inspiration from other industries
- A more customer-centric focus
Trend Applications
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- Trend: Immaterial World
- Industry implications
- Trend: The Nouveau Poor
- Industry implications
- 2015 Trend: Access Anything, Anywhere
- Specifics
- Industry implications
Market Size
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- Key points
- Net written premium for 2010 totals $1 trillion
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- Figure 9: Net premiums written, property & casualty life/health insurance, 2001-10
- Figure 10: Net premiums written, property & casualty and life/health insurance, adjusted for inflation, 2001-10
Innovations in Marketing Channels – Interactive Websites
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- Key points
- Interactive websites – examples
- Allstate’s online True Term life insurance
- Esurance’s Coverage Counselor
- Travelers Guide to Better Coverage
- Northwestern Mutual’s TheMint.org
- UnitedHealthcare’s Health Care Lane
- Humana’s MyWell-being.com
- Azblue.com/WalkOn Kids’ cooking challenge
- BCBS Kansas City’s Blue365 discounts website
- Kaiser Permanente’s Mix It Up nutrition program
Innovations in Marketing Channels – Smartphone Apps
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- Key points
- Take rate for apps depends on access to mobile devices
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- Figure 11: Types of mobile products owned, by age, June 2012
- Figure 12: Types of mobile products owned, by race/ethnicity, June 2012
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- Figure 13: Types of mobile products owned, by household income, June 2012
- New innovations in auto insurance apps
- State Farm’s Driver Feedback App
- State Farm’s On the Move
- PhoneGuard
- Progressive’s Image Capture
- Progressive’s Mobile Quoting for Boats, Motorcycles, RVs
- State Farm’s 60-second text-to-quote for car insurance
- Allstate’s GoodRide
- Esurance RepairView
- Northwestern Mutual’s Financial Security game app
- New innovations in health and wellness apps
- Anthem’s Grocery Guide App
- The Louisiana 2 Step mobile app
- Duty Calls app for expectant fathers
- UnitedHealthcare’s m.uhclatino.com
Innovations in Marketing Channels – Social Media
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- Key points
- Social media campaigns as marketing channel
- Allstate’s Save 11 campaign and STANDUP Act
- State Farm’s Cause an Effect
- Lincoln Financial’s Chief Life Officer photo contest
- Northwestern Mutual’s launch of Hearsay Social
Innovations in Marketing Channels – Taking it to the Streets
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- Key points
- Bringing brand messages to the local community
- Allstate’s “Once is Never Enough” motorcycle signs
- UnitedHealthcare’s health benefits store
- Humana building playgrounds with KaBOOM!
- Blue Cross Blue Shield Association’s Play Streets
- Humana’s New York City Wellness Week
- WellPoint Kiosks
- Kaiser Permanente Every Body Walk! campaign
Leading Companies
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- Key points
- Property & Casualty Insurance
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- Figure 14: Leading property & casualty insurance companies, 2011
- Life insurance
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- Figure 15: Leading Life/health insurance companies, 2011
- Health insurers
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- Figure 16: Leading publicly traded health care insurance companies, 2011
- Responses to PPACA by the healthcare insurance industry
- UnitedHealth Group
- WellPoint
- Amerigroup
- Kaiser
- Humana
- Aetna
- Coventry
- Cigna
- WellCare
- Blue Cross Blue Shield
- The market for “dual eligibles”
- The New Star Rating System for Medicare Advantage Plans
Insurance Providers – Market Share
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- Key points
- State Farm is market share leader
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- Figure 17: Insurance provider for auto, homeowners and renters insurance , overall, June 2012
- Figure 18: Insurance provider for auto insurance, by age, June 2012
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- Figure 19: Insurance provider for homeowners insurance, by age, June 2012
Innovation and Innovators – P&C Insurers
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- Key points
- Allstate’s Drive Wise
- Allstate’s Claim Satisfaction Guarantee
- MetLife’s GrandProtect
- Allstate’s Roadside Services improving
- Travelers IntelliDrive
- Travelers Protector Plan for events
Innovation and Innovators – Life Insurers & Annuities
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- Key points
- Allstate’s True Term Life Insurance
- State Farm’s Joint Universal Life Product
- Nationwide’s YourLife Indexed Universal Life
- Lincoln Financial’s Employee Value UL
- Allstate’s IncomeProtector and GrowthProtector annuities
- New York Life’s Secure Term MVA Fixed Annuity
Innovation and Innovators – Health & Wellness
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- Key points
- Making health insurance better
- Aetna In Touch Care
- WellPoint’s Care Comparison tool
- UnitedHealthcare’s myHealthcare Cost Estimator
- WellPoint’s venture with IBM’s Watson
- WellPoint’s new online Zagat Survey tool
- WellPoint’s Comprehensive Primary Care Program
- Coventry First Health Value Plus
- Blue Cross’s Healthy Incentives program
- Wellness innovations
- Aetna’s MyBrainSolutions.com
- Aetna’s Mindfulness at Work and Vinivoga Stress Reduction
- Humana’s Active Outlook Walking Program
- HumanaVitality and Ubisoft’s fitness games
- Humana and Walmart partner to offer healthy foods discounts
- Kaiser Permanente’s Maintain Don’t Gain Program
- UHC’s SimplyEngaged Plus Wellness Program
- WellPoint and FitOrbit personal training
- BCBSA Blue 356 program additions
- Cigna’s Healthy Rewards program
Marketing Strategies
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- Key points
- Overview
- Print advertising
- Allstate Claim Satisfaction Guarantee Insurance
- Allstate’s Save 11
- State Farm Auto Insurance
- Progressive’s Mobile App
- Liberty Mutual’s Responsibility Project
- BlueCross BlueShield of Illinois Playgrounds
- Humana Medicare Advantage and the Facebook page
- Direct mail and email advertising
- Aetna Health Reform Weekly
- UnitedHealthcare Wellness Screenings
- UPMC Family Fun Day
- Blue Cross Blue Shield of Michigan Medicare
- Online advertising
- Allstate House and Home Insurance
- Progressive’s Messsenger
- American Family Dreams
- Met Life Vision Plans
- BlueCross BlueShield of North Carolina
- Prudential VETalent
- Innovative uses of QR codes
- Allstate’s QR quote
- Anthem Blue Cross Blue Shield
- Progressive Snapshot
- Allstate Mobile App
- Television advertising
- Liberty Mutual “Humans” Campaign
- State Farm’s Celebratemydrive.com
- GEICO’s Pet Possum
Consumer Attitudes about Purchasing Insurance and Filing Claims
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- Key points
- Excellent service when filing claims is essential
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- Figure 20: Attitudes about insurance, filing claims, renewals, June 2012
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- Figure 21: Attitudes about insurance, filing claims, renewals, by gender, June 2012
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- Figure 22: Attitudes about insurance, filing claims, renewals, by age, June 2012
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- Figure 23: Attitudes about insurance, filing claims, renewals, by race/Hispanic origin, June 2012
The Consumer and Insurance Apps
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- Key points
- App downloads by product type
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- Figure 24: Percentage of respondents who have downloaded an insurance app, by type of insurance, June 2012
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- Figure 25: Percentage of respondents who have downloaded an auto insurance app, by gender/age, income, race/Hispanic origin, area, June 2012
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- Figure 26: Percentage of respondents who have downloaded a homeowners insurance app, by gender/age, income, race/Hispanic origin, area, June 2012
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- Figure 27: Percentage of respondents who have downloaded a health insurance app, by gender/age, income, race/Hispanic origin, area, June 2012
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- Figure 28: Percentage of respondents who have downloaded a prescription drug coverage app, by gender/age, income, race/Hispanic origin, area, June 2012
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- Figure 29: Percentage of respondents who have downloaded a whole/universal insurance app, by gender/age, income, race/Hispanic origin, area, June 2012
- Allstate above-average for app downloads
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- Figure 30: Incidence of app download by auto insurance provider, June 2012
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- Figure 31: Incidence of app download by homeowners insurance provider, June 2012
Attitudes about Safe-Driving Devices
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- Key points
- Interest in vehicle safety devices is fairly high
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- Figure 32: Ownership of, and interest in automobile safety devices, June 2012
- Younger women express greater interest
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- Figure 33: Interest in safe-driving devices, by gender, June 2012
- Figure 34: Interest in safe-driving devices, by age, June 2012
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- Figure 35: Interest in safe-driving devices, by gender and age, June 2012
- Figure 36: Interest in safe-driving devices, by presence of children in the household, June 2012
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- Figure 37: Interest in safe-driving devices, by race/Hispanic origin, June 2012
- Figure 38: Interest in safe-driving devices, by household income, June 2012
Attitudes about Telematics and Sensors
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- Key points
- Four in 10 interested in having a telematics device
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- Figure 39: Ownership of, and interest in automobile telematics and sensors, June 2012
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- Figure 40: Interest in vehicle telematics and sensors, June 2012
- Figure 41: Interest in vehicle telematics and sensors, by age, June 2012
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- Figure 42: Interest in vehicle telematics and sensors, by gender and age, June 2012
- Figure 43: Interest in vehicle telematics and sensors, by presence of children, June 2012
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- Figure 44: Interest in vehicle telematics and sensors, by race/Hispanic origin, June 2012
- Figure 45: Interest in vehicle telematics and sensors, by household income, June 2012
Participation in Health and Wellness Programs
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- Key points
- Health and wellness program participation
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- Figure 46: Health and wellness programs offered by employer, and participation, June 2012
- Figure 47: Participation in health and wellness programs, by gender, June 2012
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- Figure 48: Participation in health and wellness programs, by age, June 2012
- Figure 49: Participation in health and wellness programs, by race/Hispanic origin, June 2012
Cluster Analysis
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- Cluster characteristics
- Direct Preferrers
- Demographics
- Characteristics
- Opportunity
- Agent Loyalists
- Demographics
- Characteristics
- Opportunity
- The Uninvolveds
- Demographics
- Characteristics
- Opportunity
- Active Shoppers
- Demographics
- Characteristics
- Opportunity
- Cluster tables:
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- Figure 50: Clusters, proportion of total, April 2012
- Figure 51: Types of insurance products owned, by cluster, June 2012
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- Figure 52: Auto Insurance and health insurance apps downloaded, by cluster, June 2012
- Figure 53: Auto insurance provider, by cluster, June 2012
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- Figure 54: Homeowners insurance provider, by cluster, June 2012
- Figure 55: Have safe driving, telematics and sensors currently installed in auto, by cluster, June 2012
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- Figure 56: Interest in having safe driving, telematics or sensor devices installed, by cluster, June 2012
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- Figure 57: Attitudes about personal lines insurance , by cluster, June 2012
- Cluster demographic tables:
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- Figure 58: Cluster demographics, by gender, June 2012
- Figure 59: Cluster demographics, by age, June 2012
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- Figure 60: Cluster demographics, by household income, June 2012
- Figure 61: Cluster demographics, by ethnicity, June 2012
CHAID Analysis
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- Methodology
- Looking at the appeal of devices and sensors
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- Figure 62: Innovation in the Insurance Marketplace– CHAID – Example tree output, June 2012
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- Figure 63: Innovation in the Insurance Marketplace – CHAID output table, June 2012
Appendix: Trade Associations and Agencies
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