Canada The Insurance Purchase Decision Market Report
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Providing the most comprehensive and up-to-date information and analysis of the The Insurance Purchase Decision market, and the behaviours, preferences and habits of the consumer.
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What are the key challenges facing the industry and how fast are its rates of growth? Who is the consumer and what do they want? Where are the opportunities, where are the risks and what lies ahead?
This Report covers consumer attitudes and behaviour related to insurance purchase. It explores usage of channels, methods of distribution, willingness to buying insurance online, openness to new technology, attitudes towards brokers and general attitudes about insurance purchase.
A number of emerging technologies and processes are having a massive impact on insurers: the refinement and availability of advanced analytics, artificial intelligence and machine learning, drones, telematics, usage-based insurance, autonomous driver-assisted vehicles reducing risk, etc. Along with these advancements, insurance companies are leveraging multiple distribution channels to suit customer preferences including traditional channels such as brokers and agents, through affinity programs with member associations, retail outlets, travel agencies, through employers for group sales, and direct digital sales.
Consumers are not only researching quotes online, but younger consumers are more willing to purchase online – making it more imperative for insurers and brokers alike to embrace technology. While insurance companies continue to leverage multiple channels to distribute their products, innovations such as the sharing economy, driverless cars and the ubiquitous smartphone continue to influence product offerings and customer expectations.
Expert analysis from a specialist in the field
Written by Sanjay Sharma, a leading analyst in the Senior Financial Services Analyst sector, his extensive knowledge delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.
As insurance distribution channels evolve, direct digital sales are bound to increase, resulting in more pressure on brokers to provide value-added advice and claims help.
Senior Financial Services Analyst
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This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.
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Mintel's proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.
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