It shouldn’t seem surprising that use of online channels to purchase insurance is on the rise. In fact, Accenture research shows that the Internet is the fastest growing channel for insurance purchases.
Growth of online channels
Figure 3 shows consumer responses to the question: “How do you expect to purchase or renew insurance in the next 12 months?”
The results are shown in comparison with consumer behaviors from the previous year. For the online channel, there is an increase in adoption across the board. In fact, 43 percent of consumers plan to purchase insurance through online channels—through an insurer’s website or an online aggregator—in the next 12 months.
Affinity with the Internet is greatest in the United Kingdom, where a staggering 70 percent of consumers plan to purchase insurance online.
Learn more about the Accenture Multi-Channel Distribution Insurance Consumer Survey, or find out more about customers on the move or aggregators and agents.