New Financial Services market report from Verdict Retail: "Customer Segmentation in UK Insurance: Individualism"
[ClickPress, Tue Jun 28 2016] Summary
Consumer expectations for their interactions with financial services are not built from experience with insurers or banks, but are benchmarked against contact with other retailers and services, such as Amazon, Netflix, and Uber. The advance of smart technology, the era of the "always on" generation, our willingness to share personal information in return for a convenient and personal experience, and the Big Data opportunities these create mean the bar is (and should be) high to create delight for the 39% of consumers with a strong sense of individualism.
* A little under half of all customers wish to be empowered to make their own decisions around insurance purchasing.
* Tailoring and bespoke products are only in high demand from a small proportion of customers, but we expect this will be one of the traits that experiences the most rapid shift towards prominence over time.
* Customers who may be defined as belonging within the individualism type are most likely to be older, and are less likely to use bank or comparison site channels for insurance or be led by considerations of convenience.
Full Report Details at
Verdict Financial's "Customer Segmentation in UK Insurance: Individualism" focuses on one of eight attitudinally based consumer segments in our proprietary model - individualism - and explores this trait in relation to the market for key financial products. There are two ways in which individualism can be viewed in consumers' approach to their services: wanting the freedom to make their own decisions, and looking for products that are personalized. These desires have an impact on all aspects of the insurance purchasing journey.
Reasons to Get this Report
* Inform your strategy with knowledge of the key trends and sub-trends that influence insurance consumption habits and develop a competitive advantage around consumer behavior trends.
* Understand the importance of being led by the consumer in the financial services market and define your strategies with insight on what your customers really want.
* Align your marketing strategies with the crucial trends influencing consumer behavior.
Companies Mentioned in this Report: Policy Genius, Brolly, Worry + Peace, Metromile, Trov, Bought By Many, Amazon, Netflix, Uber, Knip
About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget.
For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156 (1.413.485.7001 Int'l)
You may also be interested in these related reports:
- Bancassurance Technology Market in Europe 2015-2019
- Customer Segmentation in UK Insurance: Convenience
- Global Bancassurance Market 2015-2019
- Insurance Technology Market in Europe 2015-2019
- Customer Experience Management Market - Global Forecast to 2020