Article

Suzy Coulson
Suzy Coulson 20 April 2016

Life Insurance: Which Providers Offer The Best Online Customer Experience?

In Q2 and Q4 of 2015, Global Reviews ran their Digital Sales Effectiveness benchmark across three banks, three general insurers and three exclusively life insurers in the UK. The benchmark looked at which brand offered the best online experience for customers when they are researching and purchasing life insurance online.

The research involving a real-time audit conducted by over 500 in-market consumers, exposed just how well brands are performing throughout the key stages of the customers’ online sales journey and is designed to highlight the issues that 95% of customers will have with a brands online experience.

Online customer journey

Customer sales journey

Across all of the industries and their respective products that were benchmarked in both Australia and the UK during 2015 (over 60,000 consumers across 500 brands), banking came out on top as the best performing industry. However, a trend that was found in the research into life insurance was that of the three different industries who offer life insurance within the UK, general insurers tended to offer the best online experience.

Average overall life insurance benchmark scores (UK 2015)

Life insurance scores

Given that in the UK if a prospective life insurance customer were to encounter a problem whilst researching online, 15% stated that they would leave the website and search for another provider rather than persevering or trying to contact the company, it is vital that no matter what a company’s core industry is, it is able to offer a strong customer experience.

This is possibly even more important in Australia where not only do banks, general insurers and life insurers operate in this domain, but also health insurers and superannuation providers as well – creating an even larger competitive pool for companies.

So is this trend in scores due to general insurers having a broader experience of selling insurance policies where as banks are used to dealing with accounts and life insurers only have the experience within that one product? Is this a trend one that is mirrored in Australia?

In 2016 life insurance will be benchmarked in Australia for the first time so we are about to find out!

Contact us to find out how well your website is catering to the needs of those actively looking for life insurance.

Original Article

Please login or register to add a comment.

Contribute Now!

Loving our articles? Do you have an insightful post that you want to shout about? Well, you've come to the right place! We are always looking for fresh Doughnuts to be a part of our community.

Popular Articles

See all
Digital Marketing Vs. Traditional Marketing: Which One Is Better?

Digital Marketing Vs. Traditional Marketing: Which One Is Better?

What's the difference between digital marketing and traditional marketing, and why does it matter? The answers may surprise you.

Julie Cave
Julie Cave 14 July 2016
Read more
4 Important Digital Marketing Channels You Should Know About

4 Important Digital Marketing Channels You Should Know About

It goes without saying that a company can't do without digital marketing in today's world.

Digital Doughnut Contributor
Digital Doughnut Contributor 5 November 2014
Read more
Instagram Contests – How to a run an excellent and legal contest

Instagram Contests – How to a run an excellent and legal contest

Running Instagram contests is a great idea! Instagram is a huge social media platform, with 700 million monthly active users. So just being active on it already significantly increases your reach and social media presence. But running contest can take it to the next level by increasing your engagement, generating leads, and making your audience happy.

Jan Zajac
Jan Zajac 15 August 2017
Read more
Twitter: The Complaint Box?

Twitter: The Complaint Box?

Twitter has proved to be a vastly versatile platform over the years – but has the facilitated interaction between brands and customers turned it into a complaint box?

Teodora Miscov
Teodora Miscov 18 August 2017
Read more
3 reasons why pdf files shouldn't drive your content strategy

3 reasons why pdf files shouldn't drive your content strategy

Technical communication is everything related to the creation and distribution of your company’s product support information. But while product documentation is created to help users - partners, suppliers, installers and customers - it’s not always user friendly! In fact, creating immersive and personalized experiences to all potential end users is one of today’s biggest challenges faced by marketers.

Inês Pimentel
Inês Pimentel 17 August 2017
Read more