Table of Contents
Executive Summary
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- The market
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- Figure 1: Top insurers for P&C, life/supplemental, health and annuities, 2013
- Innovation in the marketplace
- Health insurance
- Life insurance
- P&C insurance
- The consumer
- Insurance mobile app downloads are increasing but numbers are still low
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- Figure 2: Insurance mobile app downloads, by type of insurance carried, February 2014 and June 2012
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- Figure 3: Demographic groups with highest incidence of auto insurance mobile app downloads, February 2014
- Figure 4: Demographic groups with highest incidence of health insurance mobile app downloads, February 2014
- Telematics and automobile safety devices
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- Figure 5: Telematics and safety devices – currently have, June 2012 and February 2014
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- Figure 6: Telematics and safety devices – don’t currently have, but interested in having, February 2014
- Willingness to purchase insurance from alternative channels and current provider
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- Figure 7: Attitudes toward buying insurance from existing carrier or alternative type of vendor, by gender and age, February 2014
- Wellness programs
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- Figure 8: Participation in employer wellness programs, overall, February 2014
- Figure 9: Participation in employer wellness programs, by gender, February 2014
- What we think
Issues and Insights
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- Is the industry ripe for disruption?
- Issues
- Implications
- What will be the impact of the ACA?
- Issues
- Implications
- Why is interest in UBI low?
- Issues
- Implications
- How can companies improve the take rate for mobile apps?
- Issues
- Implications
- How can employers increase participation in wellness programs?
- Issues
- Implications
Trend Applications
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- Trend: Switch Off
- Trend: Man in the Mirror
- Futures trend: Access Anything Anywhere
Market Size
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- Key points
- Net written premium now exceeds pre-recession levels
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- Figure 10: Net written premium, property & casualty and life/health insurance, 2001-12
Leading Companies
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- Key points
- Property & casualty insurance
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- Figure 11: Leading property & casualty insurance companies, by revenues and profits, 2011 and 2012
- Life insurance
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- Figure 12: Leading life insurance companies, by revenues, 2011 and 2012
- Health insurers
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- Figure 13: Top 20 US health insurers, by market share, 2013
- Figure 14: Leading publicly traded health care insurance companies, by revenues, 2011 and 2012
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- Figure 15: Top 20 leading annuity providers, 2013
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- Figure 16: Share of consumers using each major insurance provider, by insurance type, February 2014
- Figure 17: Share of consumers using each major insurance provider, by insurance type, February 2014 (continued)
Competitive Context – Alternative Providers and Regulation
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- Key points
- Competitive innovators
- Non-traditional players are entering insurance and related markets
- Oscar
- Google Advisor
- Coverpath
- Coles Supermarket
- Innovative healthcare models that could impact health insurers
- Atlas MD
- Sherpaa
- Start-ups in academic medical institutions
- Changes in the regulatory environment
Innovations and the ACA
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- Key points
- Overview of the ACA
- ACA driven opportunities for innovation
- Accountable care organizations (ACOs)
- Value based insurance
- Online insurance marketplaces
- Wellness programs
- Guaranteed issue
- Essential health benefits
- Strategic health information technology
- Employer education
- Medicaid expansion
- Patient Centered Outcomes Research Institute
Innovation and Innovators – Other Health & Wellness Initiatives
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- Key points
- Major innovation trends
- Partnerships and mergers
- Digital health
- Telehealth
- Wellness programs
- Financial wellness
- Wellness travel
Innovation and Innovators – Analytics
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- Key points
- Insurers easily adopting data analytics
- Predictive analytics – industry leaders
- The future of analytics
Innovation and Innovators – Technology
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- Key points
- Telematics
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- Figure 18: PAYD and PHYD product offerings, November 2013
- Applications of smart mapping and drone technology
- Sensors and wearable technology
- Mobile apps and mobile technology
Innovation and Innovators – Life Insurance and Annuity Products
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- Key points
- Innovations in customer experience
- New product trends
Innovation and Innovators – Mobile Apps
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- Key points
- Select insurance Apps
- Liberty Mutual Home Gallery app
- GEICO app
- Progressive’s art collection app
- MetLife Infinity App
- State Farm MoveTools
- Allstate GoodRide and Digital Locker
- Allstate Mobile and QuickFoto Claim
- AIG’s CyberEdge Mobile App
- USAA
- Snapsheet
- IENetwork
- Insurance Forums
- Defend Your Income
- UnitedHealthcare Latino Health Solutions
Marketing Strategies
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- Key points
- ACA – related advertising
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- Figure 19: Percentage of ACA – related mailings to Nielsen segmentation groups, by insurer, 2013
- ACA – primary mailers
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- Figure 20: Anthem Blue Cross Blue Shield direct mail ad, October 2013
- Figure 21: Blue Cross Blue Shield of Louisiana direct mail ad, October 2013
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- Figure 22: BCBS of North Carolina direct mail ad, November 2013
- Figure 23: Cigna email ad, December 2013
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- Figure 24: AARP mobile ad and landing page, July 2013
- Life insurance
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- Figure 25: Prudential PruLife Universal producer print ad, September 2013
- Property and casualty insurance
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- Figure 26: State Farm renters insurance ad, January 2014
- Figure 27: State farm auto insurance direct mail ad, October 2013
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- Figure 28: USAA Homecircle email ad, January 2014
- Figure 29: Progressive email ad, December 2013
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- Figure 30: Nationwide auto insurance email ad, August 2013
- Figure 31: Travelers auto insurance online ad, June 2013
- Roadside assistance
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- Figure 32: Allstate Good Hands Roadside Assistance direct mail ad, December 2013
- Figure 33: Allstate Good Hands roadside assistance statement insert, march 2013
- Figure 34: Allstate Good Hands roadside mobile app email ad, July 2013
- P&C – Social media
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- Figure 35: Total mentions at top social media sites for select property and casualty insurance brands, January 2013
- QR codes
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- Figure 36: Chase branded QR code, September 2012
- Figure 37: Allstate direct mail ad with QR code and landing page, September 2012
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- Figure 38: Anthem direct mail ad with QR code on envelope, June 2012
- Figure 39: UnitedHealth Group recruitment ad with QR code, February 2013
- Teen safe driving programs
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- Figure 40: Allstate teenSMART program direct mail ad, March 2014
- Figure 41: Esurance DriveSafe email ad, January 2014
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- Figure 42: American Family Teen Safe Driver Program direct mail ad, January 2014
- Figure 43: State Farm Discount Double Check direct mail ad, February 2014
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- Figure 44: USAA Safe Driver Contract direct mail ad, November 2013
Consumers and Mobile App Downloads
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- Key points
- App ownership is increasing
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- Figure 45: Insurance mobile app downloads, all respondents by type of insurance carried, February 2014 and June 2012
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- Figure 46: Insurance mobile app downloads, by gender, February 2014
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- Figure 47: Insurance mobile app downloads, by age, February 2014
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- Figure 48: Insurance mobile app downloads, by gender and age, February 2014
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- Figure 49: Insurance mobile app downloads, by household income, February 2014
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- Figure 50: Insurance mobile app downloads, by race/Hispanic origin, February 2014
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- Figure 51: Insurance mobile app downloads, by Hispanic origin and household income, February 2014
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- Figure 52: Insurance mobile app downloads, by Hispanic origin and age, February 2014
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- Figure 53: Insurance mobile app downloads, by presence of children in household, February 2014
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- Figure 54: Insurance mobile app downloads, by area, February 2014
- Online activity and downloads
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- Figure 55: Insurance mobile app downloads, by device ownership, February 2014
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- Figure 56: Insurance mobile app downloads, by visits websites at least once per week, February 2014
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- Figure 57: Insurance mobile app downloads, by visits websites at least once per week, February 2014 (continued)
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- Figure 58: Insurance mobile app downloads, by visits websites at least once per week, February 2014 (continued)
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- Figure 59: Insurance mobile app downloads, by visits social media websites at least once per week, February 2014
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- Figure 60: Insurance mobile app downloads, by visits social media websites at least once per week, February 2014 (continued)
- Summary – groups with highest incidence of app downloads for auto and health insurance
- Auto insurance
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- Figure 61: Incidence of auto insurance mobile app downloads, by key demographics and other types of online activity, February 2014
- Health insurance
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- Figure 62: Incidence of health insurance mobile app downloads, by key demographics and other types of online activity, February 2014
- Auto insurance app downloads by insurance provider
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- Figure 63: Insurance mobile app downloads, by insurance provider – auto insurance, February 2014
Safety and Telematics Devices for Automobiles
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- Key points
- Increasing usage of automobile safety devices
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- Figure 64: Ownership of safety devices for cars, June 2012 and February 2014
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- Figure 65: Ownership or interest in safety devices for cars, overall, February 2014
- Current ownership of select car based safety and telematics devices
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- Figure 66: Telematics and safety devices – currently have, by gender and age, February 2014
- Figure 67: Telematics and safety devices – currently have, by household income, February 2014
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- Figure 68: Telematics and safety devices – currently have, by race/Hispanic origin, February 2014
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- Figure 69: Telematics and safety devices – currently have, by Hispanic origin and household income, February 2014
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- Figure 70: Telematics and safety devices – currently have, by Hispanic origin and age, February 2014
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- Figure 71: Telematics and safety devices – currently have, by presence of children in household, February 2014
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- Figure 72: Telematics and safety devices – currently have, by visits to key social media websites at least once per week, February 2014
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- Figure 73: Telematics and safety devices – currently have, by smartphone and tablet ownership, February 2014
- Interest in safety and telematics devices
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- Figure 74: Telematics and safety devices – don’t currently have, but interested in having, by gender and age, February 2014
- Figure 75: Telematics and safety devices and safety devices – don’t currently have, but interested in having, by household income, February 2014
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- Figure 76: Telematics and safety devices – don’t currently have, but interested in having, by race/Hispanic origin, February 2014
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- Figure 77: Telematics and safety devices – don’t currently have, but interested in having, by Hispanic origin and age, February 2014
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- Figure 78: Telematics and safety devices – don’t currently have, but interested in having, by visits to key social media websites at least once per week, February 2014
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- Figure 79: Telematics and safety devices – don’t currently have, but interested in having, by presence of children in household, February 2014
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- Figure 80: Telematics and safety devices – don’t currently have, but interested in having, by smartphone and tablet ownership, February 2014
Wellness Program Participation
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- Key points
- Access to and participation in wellness programs
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- Figure 81: Access to and participation in employer wellness programs, overall, February 2014
- Figure 82: Participation rate – employer wellness programs, by type of program, February 2014
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- Figure 83: Participation in employer wellness programs, by type of program, by gender, February 2014
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- Figure 84: Participation in employer wellness programs, by type of program, by age, February 2014
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- Figure 85: Participation in employer wellness programs, by type of program, by gender and age, February 2014
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- Figure 86: Participation in employer wellness programs, by type of program, by household income, February 2014
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- Figure 87: Participation in employer wellness programs, by type of program, by race/Hispanic origin, February 2014
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- Figure 88: Participation in employer wellness programs, by type of program, by marital/relationship status, February 2014
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- Figure 89: Participation in employer wellness programs, by type of program, by employment, February 2014
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- Figure 90: Participation in employer wellness programs, by visits social media websites at least once per week, February 2014
Alternative Providers, Communications, and Discounts
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- Key points
- One in five would buy life insurance from a bank or retailer
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- Figure 91: Attitudes toward insurance and carrier communications, by gender, February 2014
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- Figure 92: Attitudes toward insurance and carrier communications, by age, February 2014
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- Figure 93: Attitudes toward insurance and carrier communications, by gender and age, February 2014
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- Figure 94: Attitudes toward insurance and carrier communications, by household income, February 2014
- Figure 95: Attitudes toward insurance and carrier communications, by race/Hispanic origin, February 2014
The Purchase Process and Claims Service
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- Key points
- Excellent claims service is important
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- Figure 96: Attitudes toward purchasing insurance, February 2014
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- Figure 97: Attitudes toward purchasing insurance, by age, February 2014
- Figure 98: Attitudes toward purchasing insurance, by household income, February 2014
Attitudes toward Payment Channels
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- Key points
- Paperless billing and automatic payments
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- Figure 99: Attitudes toward insurance payment methods, by gender, February 2014
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- Figure 100: Attitudes toward insurance payment methods, by age, February 2014
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- Figure 101: Attitudes toward insurance payment methods, by household income, February 2014
Other Useful Consumer Tables – Wellness Program – Did Not Participate
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- Figure 102: Participation in employer wellness programs, by type of program – offered by employer, but did not participate in the last year, by gender, February 2014
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- Figure 103: Participation in employer wellness programs, by type of program – offered by employer, but did not participate in the last year, by age, February 2014
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- Figure 104: Participation in employer wellness programs, by type of program Access to and participation in employer wellness programs – offered by employer, but did not participate in the last year, by gender and age, February 2014
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- Figure 105: Participation in employer wellness programs, by type of program Access to and participation in employer wellness programs – offered by employer, but did not participate in the last year, by household income, February 2014
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- Figure 106: Participation in employer wellness programs, by type of program Access to and participation in employer wellness programs – offered by employer, but did not participate in the last year, by race/Hispanic origin, February 2014
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- Figure 107: Participation in employer wellness programs, by type of program – offered by employer, but did not participate in the last year, by visits to key social media websites at least once per week, February 2014
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- Figure 108: Participation in employer wellness programs, by type of program – offered by employer, but did not participate in the last year, by geographic area, February 2014
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- Figure 109: Participation in employer wellness programs, by type of program Access to and participation in employer wellness programs – offered by employer, but did not participate in the last year, by Hispanic origin and age, February 2014
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Other Useful Consumer Tables – Alternative Providers, Communications and Discounts
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- Figure 110: Attitudes toward insurance and carrier communications, by generations, February 2014
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- Figure 111: Attitudes toward insurance and carrier communications, by visits to key social media websites at least once per week, February 2014
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- Figure 112: Attitudes toward insurance and carrier communications, by smartphone or tablet ownership, February 2014
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- Figure 113: Attitudes toward insurance and carrier communications, by types of insurance, February 2014
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Other Useful Consumer Tables – The Purchase Process and Claims Service
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- Figure 114: Attitudes toward purchasing insurance, by gender and age, February 2014
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- Figure 115: Attitudes toward purchasing insurance, by race/Hispanic origin, February 2014
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- Figure 116: Attitudes toward purchasing insurance, by generations, February 2014
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- Figure 117: Attitudes toward purchasing insurance, by visits social media websites at least once per week, February 2014
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- Figure 118: Attitudes toward purchasing insurance, by visits social media websites at least once per week, February 2014 (continued)
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- Figure 119: Attitudes toward purchasing insurance, by types of insurance owned, February 2014
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- Figure 120: Attitudes toward purchasing insurance, by attitudes toward alternative providers and communications, February 2014
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Other Useful Consumer Tables – Attitudes toward Insurance Payment Methods
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- Figure 121: Attitudes toward insurance payment methods, by race/Hispanic origin, February 2014
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- Figure 122: Attitudes toward insurance payment methods, by presence of children in household, February 2014
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- Figure 123: Attitudes toward insurance payment methods, by region, February 2014
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- Figure 124: Attitudes toward insurance payment methods, by visits social media websites at least once per week, February 2014
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- Figure 125: Attitudes toward insurance payment methods, by visits social media websites at least once per week, February 2014 (continued)
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- Figure 126: Attitudes toward insurance payment methods, by smartphone and tablet ownership, February 2014
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Appendix – Trade Associations
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