UK motor insurance: younger consumers go for direct option

There is a notable increase in the likelihood of using a broker for arranging motor insurance among consumers over the age of 45. This group values the service a broker can provide more than any other age group, and is also, to some extent, likely to appreciate the benefits of personal service. A broker is least likely to be used by 18-24-year-olds when arranging an insurance policy, a fact largely related to their familiarity with technology. This age band has grown up with direct distribution platforms and is more comfortable with purchasing insurance remotely. However, if brokers develop their online capabilities, they may be able to capture a younger customer base through this platform.

Source: Datamonitor, "The Future Role of Brokers in UK Personal Lines Insurance 2005" (DMFS1739)

Source: Datamonitor, "The Future Role of Brokers in UK Personal Lines Insurance 2005" (DMFS1739)