Table of Contents
Scope and Themes
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- What you need to know
- Data sources
- Consumer survey data
- Direct marketing creative
- Abbreviations and terms
- Abbreviations
- Terms
Executive Summary
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- The market
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- Figure 1: Insurance ownership, by type, July 2013
- Market drivers
- Demographics favor growing sales
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- Figure 2: US population growth, by age, 2008-18
- The consumer
- Insurance agents are still important
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- Figure 3: Top five sources of insurance information, by age, July 2013
- Most people don’t plan to purchase insurance any time soon
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- Figure 4: Plans to purchase any type of insurance independently, by type, July 2013
- Automatic renewal is a challenge
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- Figure 5: Attitude toward automatic renewal, by age, July 2013
- Customer satisfaction
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- Figure 6: Customer satisfaction, by type of insurance, July 2013
- What we think
Issues and Insights
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- How can the industry encourage consumers to purchase life insurance?
- Issues:
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- Figure 7: Life insurance ownership, by household income, July 2013
- Insights:
- How will healthcare reform affect who purchases health insurance?
- Issues:
- Insights:
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- Figure 8: Top five sources of information for independently purchased health insurance, by source, July 2013
- How will private health exchanges change the health insurance landscape?
- Issues:
- Insights:
- How can insurers attract the young customers they need?
- Issues:
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- Figure 9: Top five sources of insurance information, by age, July 2013
- Figure 10: Importance of insurance company’s online capabilities, by gender and age, July 2013
- Insights:
Trend Application
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- Inspire trend: Return to the Experts
- Inspire trend: The Power of One
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- Figure 11: Incidence of insurance ownership – have no insurance, by marital status, july 2013
- Mintel futures: Humans
Market Size
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- Key points
- Life insurance net premiums increased sharply from 2010 to 2011
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- Figure 12: Life insurance industry statistics, 2011 vs. 2001 and 2010
- Auto insurance premiums continue to rise
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- Figure 13: Auto insurance – total written premiums, 2004-12
- Homeowners/renters premiums up 5.7%
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- Figure 14: Homeowners insurance – total written premiums, 2004-12
- Health insurance premiums are increasing
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- Figure 15: Health insurance – total written premiums, 2004-12
- More people have auto insurance than any other kind
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- Figure 16: Type of insurance owned, July 2013
Market Drivers
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- Key points
- Demographics favor growing sales
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- Figure 17: US Population growth, by age, 2008-18
- Unemployment continues to fall
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- Figure 18: US unemployment April 2009-August 2013
- Home sales on an upward trend
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- Figure 19: Existing home sales, in millions of units, July 2012-July 2013
- Figure 20: New home sales, 2002-12
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- Figure 21: Sales of new homes, in thousands of units, July 2012 to July 2013
- Figure 22: Percentage of new home sales in each region, 2002-12
- Figure 23: Percentage of existing home sales in each region, July 2012-July 2013
- Car sales are strong
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- Figure 24: 2013 car sales, in millions
- Sales of smartphones and tablets are increasing
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- Figure 25: Smartphone ownership, by age, November 2011, June 2013
- Increase in disastrous natural weather events
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- Figure 26: Billion dollar weather-related events, 2012
Competitive Context
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- Key points
- Private health exchanges will increase competition
- Apps will make a difference
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- Figure 27: Online purchase and switching preferences – auto/motorcycle insurance, by age, July 2013
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- Figure 28: Online purchase and switching preferences – homeowners/renters insurance, by age, July 2013
Innovations and Innovators
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- Key points
- MetLife teams up with Walmart
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- Figure 29: MetLife direct mail ad, 2013
- Malayan Insurance is selling insurance on Facebook
- Health insurance at the mall
- App from Progressive provides quotes
- Innovative loyalty program from The Buzz
Marketing Strategies
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- Key points
- P&C mailings higher in 2013 than 2012
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- Figure 30: Estimated P&C mail volume, Q1 2011-Q2 2013
- Figure 31: Top four P&C mailers, Q2 2012-Q2 2013
- Health insurance mailings
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- Figure 32: Health insurance mailing volume, Q2 2012-Q2 2013
- Figure 33: Top five health insurance mailers, Q2 2013
- Life insurance mailings
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- Figure 34: Life insurance mailing volume, Q1 2010-Q2 2013
- Figure 35: Top five life insurance mailers, Q2 2012-Q2 2013
- Reaching out to the LGBT community
- Insurance companies’ use of social media
- Insurance companies increasingly turning to Twitter
- Brand analysis – Allstate
- Online initiatives
- Online ads
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- Figure 36: Allstate online ad, July 2013
- Figure 37: Allstate online ad, 2013
- Social media
- TV presence
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- Figure 38: Allstate, television ad, 2012
- Figure 39: Allstate, television ad, 2013
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- Figure 40: Allstate print ad, 2013
- Direct mail
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- Figure 41: Allstate direct mail ad, 2013
- Figure 42: Allstate direct mail ad, 2013
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- Figure 43: Allstate direct mail ad, 2013
- Brand analysis – MetLife
- Online initiatives
- Online ads
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- Figure 44: MetLife online ad, July 2013
- Figure 45: MetLife online ad, 2013
- Social media
- TV presence
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- Figure 46: MetLife television ad, 2013
- Figure 47: MetLife television ad, 2013
- Direct mail
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- Figure 48: MetLife online ad, 2013
- Figure 49: MetLife direct mail piece, July 2013
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- Figure 50: MetLife email ad, 2013
- Figure 51: MetLife email ad, 2013
- Brand analysis – Blue Cross Blue Shield
- Online initiatives
- Online ads
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- Figure 52: Anthem Blue Cross Blue Shield online ad, 2013
- Social media
- TV presence
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- Figure 53: Blue Cross Blue Shield of Illinois television ad, 2012
- Figure 54: Blue Cross Blue Shield of Texas television ad, 2013
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- Figure 55: Blue Cross Blue Shield print ad 2013
- Direct mail
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- Figure 56: Anthem Blue Cross Blue Shield direct mail ad, 2013
- Figure 57: Anthem Blue Cross Blue Shield direct mail ad, 2013
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- Figure 58: Anthem Blue Cross Blue Shield Email ad, 2013
- Figure 59: Anthem blue Cross Blue Shield email ad, 2013
Insurance Products Owned
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- Key points
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- Figure 60: Insurance product(s) owned, by gender, July 2013
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- Figure 61: Insurance product(s) owned, by age, July 2013
- Figure 62: Insurance product(s) owned, by household income, July 2013
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- Figure 63: Insurance product(s) owned, by race/Hispanic origin, July 2013
- Figure 64: Insurance product(s) owned, by marital/relationship status, July 2013
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- Figure 65: Insurance product(s) owned, by marital and presence of children in household, July 2013
Sources of Insurance Information
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- Key points
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- Figure 66: Source of information for insurance purchase decision, by gender, July 2013
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- Figure 67: Source of information for insurance purchase decision, by age, July 2013
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- Figure 68: Source of information for insurance purchase decision, by race/ethnicity, July 2103
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- Figure 69: Source of information for insurance purchase decision, by ownership of insurance products, July 2013
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- Figure 70: Source of information for insurance purchase decision, by ownership of insurance products, July 2013
The Life Insurance Purchase Process
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- Key points
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- Figure 71: How life insurance was purchased, by gender, July 2013
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- Figure 72: How life insurance was purchased, by gender and age, July 2013
- Figure 73: How life insurance was purchased, by household income, July 2013
The Health Insurance Purchase Process
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- Key points
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- Figure 74: How health insurance was purchased, by gender, July 2013
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- Figure 75: How health insurance was purchased, by age, July 2013
- Figure 76: How health insurance was purchased, by household income, July 2013
The Auto Insurance Purchase Process
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- Key points
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- Figure 77: How auto/motorcycle insurance was purchased, by gender, July 2013
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- Figure 78: How auto/motorcycle insurance was purchased, by age, July 2013
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- Figure 79: How auto/motorcycle insurance was purchased, by household income, July 2013
The Homeowners/Renters Insurance Purchase Process
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- Key points
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- Figure 80: How homeowners/renters insurance was purchased, by gender, July 2013
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- Figure 81: How homeowners/renters insurance was purchased, by age, July 2013
- Figure 82: How homeowners/renters insurance was purchased, by household income, July 2013
Attitudes toward Purchasing Insurance and Renewal
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- Key points
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- Figure 83: Attitudes toward purchasing insurance, by gender, July 2013
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- Figure 84: Attitudes toward purchasing insurance, by age, July 2013
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- Figure 85: Attitudes toward purchasing insurance, by household income, July 2013
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- Figure 86: Attitudes toward purchasing insurance, by household size, July 2013
Plans to Purchase Insurance in the Future
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- Key points
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- Figure 87: Plans to purchase any type of insurance next two years, by gender, July 2013
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- Figure 88: Plans to purchase any type of insurance in next two years, by age, July 2013
- Figure 89: Plans to purchase any type of insurance in next two years, by household income, July 2013
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- Figure 90: Plans to purchase any type of insurance in next two years, by race/Hispanic origin, July 2013
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- Figure 91: Plans to purchase any type of insurance in next two years, by household size, July 2013
Online Purchase/Switching Behavior – Life Insurance
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- Key points
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- Figure 92: Online purchase/switching behavior – life insurance, by gender, July 2013
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- Figure 93: Online purchase/switching behavior – life insurance, by age, July 2013
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- Figure 94: Online purchase/switching behavior – life insurance, by household income, July 2013
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- Figure 95: Online purchase/switching behavior – life insurance, by race/Hispanic origin, July 2013
Online Purchase/Switching Behavior – Health Insurance
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- Key points
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- Figure 96: Online purchase/switching behavior – health insurance, by gender, July 2013
- Figure 97: Online purchase/switching behavior – health insurance, by age, July 2013
Online Purchase/Switching Behavior – Auto/Motorcycle Insurance
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- Key points
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- Figure 98: Online purchase/switching behavior – auto/motorcycle insurance, by gender, July 2013
- Figure 99: Online purchase/switching behavior – auto/motorcycle insurance, by age, July 2013
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- Figure 100: Online purchase/switching behavior - auto/motorcycle insurance, by household income, July 2013
- Figure 101: Online purchase/switching behavior – auto/motorcycle insurance, by household size, July 2013
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- Figure 102: Online purchase/switching behavior – auto/motorcycle insurance, by generations, July 2013
Online Purchase/Switching Behavior – Homeowners/Renters Insurance
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- Key points
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- Figure 103: Online/switching behavior – homeowners/renters insurance, by gender, July 2013
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- Figure 104: Online/switching behavior – homeowners/renters insurance, by age, July 2013
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- Figure 105: Online switching behavior – homeowners/renters insurance, by household income, July 2013
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- Figure 106: Online switching behavior – homeowners/renters insurance, by region, July 2013
Reasons for Shopping for New Insurance Company – Auto/Motorcycle
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- Key points
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- Figure 107: Reasons for shopping for auto/motorcycle insurance, by gender, July 2013
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- Figure 108: Reasons for shopping for auto/motorcycle insurance, by age, July 2013
Reasons for Switching Auto/Motorcycle Insurer
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- Key point
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- Figure 109: Reasons for switching – auto/motorcycle insurance, July 2013
Reason for Switching Homeowners/Renters Insurer
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- Key point
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- Figure 110: Reason switched homeowners/renters insurance, July 2013
Customer Satisfaction
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- Key points
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- Figure 111: Customer satisfaction, by gender, July 2013
- Figure 112: Customer satisfaction, by age, July 2013
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- Figure 113: Customer satisfaction, by household income, July 2013
Important Considerations in Choosing a Carrier
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- Key points
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- Figure 114: Important considerations in choosing insurance carrier, by gender, July 2013
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- Figure 115: Important considerations in choosing insurance carrier, by age, July 2013
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- Figure 116: Important considerations in choosing insurance carrier, by gender and age, July 2013
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- Figure 117: Important considerations in choosing insurance carrier, by household income, July 2013
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- Figure 118: Important considerations in choosing insurance carrier, by race/Hispanic origin, July 2013
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- Figure 119: Important considerations in choosing insurance carrier, by presence of children in household, July 2013
Claims Experience
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- Key points
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- Figure 120: Claims experience, by gender, July 2013
- Figure 121: Claims experience, by age, July 2013
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- Figure 122: Claims experience, by household income, July 2013
Appendix – Trade Associations
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