The emergence of online aggregators has revolutionized the distribution of insurance products and services, according to a new study on ASDReports

Tuesday 29 July 2014, Amsterdam

Report description overview:

The new report now available on ASDReports, covers in-depth analysis of online aggregators market, and provides insights into the evolution and growth of online aggregators. As well as, detailed analysis of various factors driving the growth of online aggregators around the world, and different challenges faced by them. By purchasing this report you will gain a comprehensive analysis of the impacts that online aggregators have on the insurance industry, and various challenges posed by them to insurers and brokers.

The difference:

• Understand the reasons behind the dominance of online aggregators in the distribution of personal lines of insurance
• Gain insights into various competitive strategies you should adopt to succeed in an aggregator-dominated market.
• Understand the growth potential of online aggregators and key growth strategies they should adopt.

Additional report highlights:
The emergence of online aggregators has revolutionized the distribution of insurance products and services. Distribution in the insurance industry has become increasingly diverse, with online aggregators, direct online sales, agencies, brokers, auction sites and mobile-based distribution. Online aggregators have enabled consumers to access multiple quotes from different insurance service providers, and their presence is spreading across the world, bringing fundamental changes to the insurance industry. This trend is likely to continue until 2020.

The rise of online aggregators has radically changed how personal insurance lines are marketed. Instead of aiding the sale of insurance products and services, online aggregators have now become a key competitor for insurers, and have led to price-based competition and falling profitability. Large insurers with well-established brands are the biggest losers in the online aggregator-dominated market, whereas smaller insurers are the biggest beneficiaries.
Brand dilution, and falling rates of customer retention, market share and profitability are key challenges faced by leading insurers due to the emergence of online aggregators. Smaller insurers, low-cost providers and new entrants have benefitted from rising price-based competition and access to a wider customer base.