Marketing and Advertising Strategies in UK Personal General Insurance 2008: Industry

Marketing and Advertising Strategies in UK Personal General Insurance 2008

Published Date: April 2008

Published By: Datamonitor

Page Count: 46

Order Code: R313-32220

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Overview: Catalyst; Summary; Executive Summary; Advertising spend increased in 2007; Confused.com launched an innovative marketing campaign in 2008; The top 10 advertisers increased their spending by 36.7% in 2007; The top 10 insurance advertisers collectively spent more than £125m on TV advertising; Providers spent over £200m advertising motor insurance; A total of £108m was spent on combined building and contents insurance advertising and £21m on contents advertising; Table of Contents; Table of figures; Table of tables; Marketing strategies; Introduction; Providers are increasingly positioning their products as being green; Most providers are still positioning their products as low price; CIS and Kwik Fit Insurance are positioning their products in the green space; Hiscox is targeting mid net worth consumers via television advertising; Female only insurers continue to target the female segment with product differentiation; Marketing campaigns for female only insurance often concentrate on special cover features within a policy; Intune, the over 50s insurer, highlights its involvement with Help the Aged within its advertising campaign; Aggregators are competing on market coverage and product feature comparisons; Moneysupermarket.com offers the widest personal insurance product coverage of the leading comparison websites; Go Compare places an emphasis on policy feature comparison in advertising campaigns; Confused.com launched an innovative marketing campaign in 2008; Top 10 advertisers; Introduction; Confused.com entered the top 10 advertisers in 2007; The top 10 advertisers increased their spending by 36.7% in 2007; Direct Line was the number one advertiser in 2007; Confused.com entered the top 10 advertisers in 2007 illustrating the increasing importance of aggregators as distributors; Saga reduced its advertising spend in 2007; The AA and RAC saw dramatic increases in their spending due to the inclusion of breakdown cover; TV was the dominant advertising media in 2007; The top 10 insurance advertisers collectively spent more than £125m on TV advertising; SAGA and RIAS focused their advertising strategy on direct mail; Other media such as radio and press played a smaller role; Most providers lead with motor insurance advertising; The top 10 spent £106.3m on advertising motor insurance in 2007; Spending on accident and health insurance saw a small decline; Advertising spent on other smaller lines increased dramatically in 2007; Motor insurance advertising; Confused.com became the second largest motor insurance advertiser in 2007; Providers spent over £200m advertising motor insurance; Confused.com, RIAS and Zurich joined the top 10 motor insurance advertisers in 2007; Five of the top 10 motor insurance advertisers scaled back their involvement in 2007; TV dominated media spend among the top 10 motor advertisers; Confused.com, the AA, RAC, Churchill and Direct Line spent very large proportions of their budget on television campaigns; Confused.com is aiming to scale up its business via TV advertising; The AA focused its advertising message on price in 2007; The RBS companies continued to engage in strong television marketing campaigns in 2007; RIAS and Zurich use a direct mail strategy; Press, radio and outdoor advertising account for a small proportion of the advertising budget; Motor insurance advertisers ranked 11-20 spent more of their budget on direct mail; Direct mail accounted for the largest spend for advertisers ranked 11-20; Lloyds TSB chose to devote its entire marketing budget to direct mail advertising; Home insurance advertising; Household advertising spend increased by a fifth in 2007; A total of £108m was spent on combined building and contents insurance advertising and £21m on contents advertising; More than half of household insurance advertising expenditure was spent on direct mail marketing in 2007; Direct mail is a popular way of advertising combined buildings and contents policies among the top 10 advertisers; The top 10 building and contents advertisers consisted of a mixture of direct insurers, insurers, brokers and bancassurers; On average, the top 10 advertisers spent the largest proportion of their marketing budgets on direct mail, with brokers driving this trend; Direct insurers were more likely to dedicate a large proportion of their budgets towards television advertising; Press advertising was common among the top 10 building and contents advertisers in 2007; Direct mail remained the focus for buildings and contents advertisers ranked 11-20; Direct mail campaigns accounted for the majority of advertising expenses for advertisers ranked 11-20; Fewer advertisers in the 11-20 group used press and television campaigns to promote their building and contents insurance; The top 10 contents only advertisers saw a large increase in their marketing spend; The total marketing spend of the top 10 contents only advertisers increased dramatically in 2007; Eight of the top 10 advertisers used direct mail as their primary method of advertising their contents only products; Direct mail remained a popular medium to advertise contents only insurance in 2007; Halifax was the only advertiser in the top 10 to pursue a television campaign in 2007; Direct mail remained the most popular medium for advertisers in the 11-20 bracket; Six advertisers in the 11-20 bracket spent their entire budgets on promoting contents only insurance through direct mail campaigns
APPENDIX: AA and RAC; Methodology; Further reading; Ask the analyst; Datamonitor consulting; Disclaimer
List of Tables: Table 1: Top 10 personal general insurance advertisers, 2006-07, (£); Table 2: Top 10 personal general insurance advertisers' spend by media, 2006-07, (£); Table 3: Top 10 personal general insurance advertisers' spend by product, 2006-07, (£); Table 4: Top 10 motor insurance advertisers, 2004-07 (£); Table 5: Top 10 motor insurance advertisers spend by media, 2007 (£); Table 6: Top 11-20 motor insurance advertisers spend by media, 2007 (£); Table 7: Total household advertising spend, 2006-07, (£); Table 8: Top 10 building and contents advertisers' spend by media, 2007 (£); Table 9: Top 11-20 building and contents advertisers' spend by media, 2007 (£); Table 10: Top 10 contents-only insurance advertisers, 2004-07 (£); Table 11: Top 10 contents-only insurance advertisers' spend by media, 2007 (£); Table 12: Top 11-20 contents-only advertisers' spend by media, 2007 (£)
List of Figures: Figure 1: Swinton heavily featured online discounts as part of its marketing campaign in 2008; Figure 2: Kwik Fit launched the Green Insurance Company in August 2007; Figure 3: Hiscox launched a new advertising campaign promoting the prestige and breadth of cover of its home insurance; Figure 4: Sheila's Wheels has highlighted special cover features in its advertising campaigns; Figure 5: Intune promotes its involvement with Help the Aged; Figure 6: Money supermarket.com has focused on a price centric approach to marketing; Figure 7: Direct Line spent more money advertising general insurance products than any other provider in 2007; Figure 8: TV was the media of choice for insurance advertisers in 2007; Figure 9: Providers spent most of their budget on motor insurance in 2007; Figure 10: Confused.com launched its Million Pound Giveaway promotion in 2008; Figure 11: RIAS and Zurich used a direct marketing strategy to advertise motor insurance in 2007; Figure 12: Television and direct mail remained the dominant form of advertising among motor insurance advertisers ranked 11-20; Figure 13: Direct mail accounted for the largest media spend for the top 10 home insurance advertisers; Figure 14: Norwich Union launched its We can campaign in 2007; Figure 15: Direct mail and TV remained the dominant forms of buildings and contents advertising in 2007; Figure 16: Only three players attributed some of their budgets to television advertising in 2007; Figure 17: Privilege, Abbey, and CIS devoted their entire budgets to direct mail advertising in 2007; Figure 18: Contents only advertisers belonging to the 11-20 bracket chose to promote their products exclusively through direct mail and press advertising

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