New report reveals surge in search and social landscape for insurance
Immediate Future and Sagittarius Agency have co-authored a new report, looking at insurance mentions across search and social.
New report from Immediate Media and Saggitarius Agency look at search and social results across insurance.
The survey, titled Insurance Spins Fast on Social, analyses fresh data which looks at consumer behaviours, interests and attitudes to reveal a number of topics that have surged since the pandemic started.
Factoring in the insurance claims and cancellations amid concerns around travel ahead of Brexit, the survey responds to underlying discussions that have emerged since March, when a call for better clarity on policies surfaced.
The report looks at the top 10 insurers and a top comparison website, which reveals that Admiral, Aviva and Axa get the most mentions on social. Admiral consistently gains the largest share of positive sentiment.
Katy Howell, chief executive at Immediate Future, says: “These surges are like snowballs. They start small, gaining momentum till they melt away weeks later. It’s very different from a peak or a social moment as they often last some time and frequently overlap. As a consequence, perceptions and attitudes associated with surges tend to stick in people’s minds. Insurance brands should be keeping a close eye on conversations, correlate to search demand, and be agile enough to react when needed”
Analysis of 773,791 mentions of insurance on social media is accompanied by the latest search data and details:
The volume and engagement of different types of insurance from travel and health, to car and business insurance.
Topic and interest surges alongside moments and expressed emotions.
Compares the top 10 insurance brands by share of voice as well as message penetration and perception when it comes to cost and renewals.
Details the triggers and motivations for purchase that are likely to continue to the end of the year.
There are also some interesting differences between search and social. Health insurance mentions have remained consistently high since lockdown on social (increasing 51% at the end of summer), yet on search, it’s travel insurance that spiked early followed by a lift, more recently, in car insurance.
Paul Stephen, chief executive at Sagittarius Agency, shares the potential opportunity for insurance brands: “The contrast between relatively standard search behaviour and an increase in social means that the power of recommendation is about to leap. Social research and proof have taken centre stage again.
“Added to which, better clarity on policies that are explained on social and discoverable in the longtail of search ease the customer journey, simplifying the decisions to buy”, he continues
The report takes the data analysis to the next step and offers insurance brands advice and direction as to how to approach social as consumer interest surges in different directions.
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