Transcript Moneysupermarket - Microsoft Advertising

Insurance Trends
and Opportunities :
Econometric and UK Consumer Trends
Contents
Market Environment
Consumer Trends
Advertising Market
Consumer
Trends –
Insurance
Consumer expenditure on insurance
In billions, at current and constant 2005 prices
nVision/Experian forecast, February 2010-based projection (based on Q3 2009 data)
£35
Current prices
Constant 2005 prices
£30
£25
£20
£15
£10
£5
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
£0
Source: Experian/nVision
Base: UK
General insurance product ownership
•Insurance product ownership, August 2010
Base: 2,000 internet users aged 16+
%
0
10
20
30
40
50
60
70
Car insurance
72
Contents insurance
68
Buildings insurance
57
36
Annual travel insurance
Home emergency cover
20
Pet insurance
16
Legal expenses insurance
16
Source: GMI/Mintel
© 2010 Mintel International Group. All
rights reserved. Confidential to Mintel.
•
Difficult economic conditions saw
premium income decline across
many general insurance products
during 2009. Commercial
products and discretionary
products were among the worst
affected.
22
Mobile phone insurance
Other type of insurance
Private motor and domestic
property insurance are and
remain the largest sectors of the
insurance market
24
Card protection insurance
ID theft insurance
•
27
Medical/Health insurance
Personal accident insurance
80
15
14
13
Purchasing or renewing insurance online
Two-thirds...
66%
...of consumers expect to
purchase or renew
insurance online via either
an insurer’s website or an
aggregator
Source: Accenture/nVision
Base: 3,555 respondents aged 18+ in 6 countries, 2010
Compared prices online forecast
% of adults who have compared prices online in the last 6 months
“Which of the following, if any, have you done on the Internet in the last 6 months…Compared/looked
up prices for any product or service ?” nVision forecast – Summer 2010 based projection
Price comparison
sites are set to
grow in the
coming years and
will continue to
play a major role
in the insurance
market
Source: nVision Research
Base: 1,000 face-to-face respondents aged 16+, GB
Insurance and customer loyalty
Source: Accenture/nVision
Base: 3,555 respondents aged 18+ in 6 countries, 2010
30% of policyholders switched providers
at last renewal
CAR INSURANCE RENEWAL BEHAVIOUR, JANUARY 2011
Base: 1,140 adults aged 17+ who hold a car insurance policy
It’s my first
insurance policy
and I’ve yet to
renew it
2%
I stayed with my
existing insurer and
didn’t shop around
24%
I stayed with my
existing insurer but
only after shopping
around
42%
“Thinking about the last time you renewed your car insurance policy,
which of the following statements apply?”
© 2010 Mintel International Group. All
rights reserved. Confidential to Mintel.
Three in ten motor insurance
policyholders switched to a different
provider at their last renewal.
•
Around a quarter stayed with their
existing insurer and didn’t bother to
look for a better deal.
•
More than two fifths shopped around at
their last renewal but opted to remain
with their existing insurer.
•
Female policyholders are more likely
than their male counterparts to switch
insurers.
•
The likelihood to switch reduces with
age, with under-45s the most likely to
have moved between insurers at their
last renewal.
Don’t know
2%
I switched to a
different insurer
30%
SOURCE: GMI/MINTEL
•
“I think that it is more important than ever to have
good insurance cover”
% who agree or agree strongly, by gender, age and social grade
Agree strongly
70%
Agree
As a result of the
changing
economic
conditions, people
feel that is now
more important to
be protected
60%
50%
40%
30%
20%
10%
Source: RSA/The Future Foundation/nVision
Base: 1,000 respondents aged 16+, UK, 2009
C2DE
ABC1
65+
55-64
45-54
35-44
25-34
16-24
Female
Male
Total
0%
Advertising
Climate
Media Spend
• Financial
advertisers
tend to spend
the most on
advertising on
TV and Direct
mail
advertising
followed by the
Press
• On average the
industry spent
around 6% on
Internet
advertising
(not including
search)
Source: NNR adDynanix : 2009 - 2010
Impressions and Audience by Publisher AdMetrix
• While Microsoft
does not have the
most impressions
for this sector, it
does have the most
Unique Visitors
Bing Traffic KPIs
Overall Insurance Traffic
• Insurance overall was down
9% in traffic for 2010 year on
year
• However 2011 has seen
strong growth so far with a
41% year on year increase in
traffic for January-March
Product Traffic increases for
2010 (JAN-MAR)
• Car Insurance – up 62%
• Home Insurance – up 14%
• Life Insurance – up 26%
• Generic Insurance – up 142%
1. Microsoft Advertising Intelligence Tool
Bing Finance Searchers are…
Source: NNR JULY 2010 – JANUARY 2011
Insurance KW Demographics and Daily
Trends:
1. Microsoft Advertising Intelligence Tool
Microsoft Media Network
Trends
Network
Demographics
• 66% of the impressions occur between 18
and 44, while a similar proportion of clicks
occur in the higher age brackets, 25-54
• Impressions and conversions peak in the 1824 for females while the 25-34 peak is more
male biased
• 53% of conversion occur between the 18-34
age bracket
• Conversions for Finance usually entail a
quote or an application
Source: Microsoft Media Network : July 2010 – March 2011
Network: Day of the Week
• There is a slight decline in impressions through out the week however
consumers are more likely to click during first half of the work week and
on Sunday
• Conversions have two peaks on Tuesday as well as at the end of the week
on Friday
Source: Microsoft Media Network : July 2010 – March 2011
Network: Time of Day
• There is a build of Impressions
and Actions during the early
afternoon and a slight elevation
in the early evening
• There is one main peak that
occurs post-lunch before the
end of the work day
Source: Microsoft Media Network : July 2010 – March 2011
Finance Opportunities
Positioning and Pricing
Because of so many variables in the
market place, positioning of your
product is key
Demographic/Mosaic
The users and searchers for this type
of product index well in
demographic sectors and can be
targeting with our Mosaic offering
Search and Display – Better
Together
Use both offerings to help boost
your ROI moreover, use our display
offering to help boost your brand
campaign. Particularly when we have
seen good increases in traffic in the
start of 2011