More Australian consumers are going online to get insurance but they are much more fickle that those who use traditional methods, a survey has found.
An ACNeilsen report shows the proportion of online consumers accessing general insurance information online was up nine per cent in the past six months and more than 20 per cent in the past two years.
ACNeilsen said this is much greater than the growth experienced in the more mature online markets of overall internet usage or internet banking.
For the first time, internet sales have eclipsed sales of insurance policies over the phone. Almost half (47 per cent) of internet users have sought out insurance information online in the past six months.
But those web users who went online for their insurance needs were more inclined to shop around than those who used more traditional methods.
“Internet users who purchase their policies online are more fickle than those who use the phone,” ACNielsen financial services director Glenn Wealands said.
“Although the internet is a cheaper and a more convenient way of providing the consumer a quote, it would take more quotes to get a final sale than through other channels. This means that insurance companies need to work hard to attract them and just as hard to retain them.”
Around 20,000 regular internet users were asked about their insurance preferences, online behaviours and attitudes and research methods for motor and home insurance for the survey.
