Are Consumers Bundling Their Insurance?

Who is switching their insurance provider?

Insurance

Every week there's a new ad campaign highlighting bundled insurance lines for consumers. But are consumers bundling their insurance and who is making the switch?

This month, we're bringing you exclusive insurance trends, plus the debut of the Office Pulse Travel Brand Tracker! Keep reading for more insights!

This month we're debuting the Office Pulse Brand Tracker series, beginning with the travel industry! Get insights into the performance of key travel brands across a host of different metrics and audience segments. To download the full Brand Tracker, follow the link! Travel Brand Tracker Link

More than 1 in 4 professionals are looking to change providers within the next 12 months. Price is the #1 reason.

Data among Canadian and US respondents

Professionals looking to switch providers are most likely to consider switching their auto insurance in the next 12 months. 3 in 4 professionals are also likely to consider switching their homeowners' insurance policy in the next 12 months.

Data among Canadian respondents

2 in 3 adults between the ages of 18 and 34 will consider switching insurance providers in the next 12 months. More than 1 in 3 adults 35 or older will consider switching in the next 12 months.

Data among Canadian and US respondents

Half of high-income business professionals will consider switching insurance providers in the next 12 months. 2 in 5 professionals with a household income under $100K will consider switching in the next 12 months.

Data among Canadian and US respondents

More than 8 in 10 professionals plan to renew an insurance policy in the next 12 months. 7 in 10 will do so automatically.

Data among Canadian respondents

Nearly half of policy holders planning to switch providers in the next 12 months are likely to switch to RBC Insurance. 4 in 10 are likely to switch to TD Insurance.

Data among Canadian respondents

More than half of professionals bundled their insurance in the last 12 months. 6% bundled their insurance prior to the last 12 months.

Data among Canadian respondents

2 in 3 professionals bundled their insurance because it was cheaper. More than half bundled because it was easier.

Data among Canadian respondents

More than half of professionals research insurance by visiting their website. More than 1 in 4 consult with insurance agents or use an online aggregator.

Data among Canadian respondents

More than half of professionals with insurance purchase their insurance directly from the company. 1 in 5 purchase from an agent who works for an insurance company or from an independent agent.

Data among Canadian respondents

The number of businesses professionals working at the office has more than doubled since April.

Data among Canadian and US respondents

Confidence in the overall business climate remained steady.

Business Confidence: How confident are you with the current state of your business? [Average score based on a 1-10 scale with 10 being the highest confidence]

Job Security: How confident do you feel about your job security? [Average score based on a 1-10 scale with 10 being the highest confidence]

Business climate: Do you feel the business climate is getting better? [Average score based on a 1-10 scale with 10 being “Getting Better”]

Data among Canadian and US respondents

Confidence in the overall business climate among tech professionals increased.

Business climate: Do you feel the business climate is getting better? [Average score based on a 1-10 scale with 10 being “Getting Better”]

Data among Canadian and US respondents

About Us

Captivate Office Pulse research offers marketers timely insights from a proprietary panel of business professionals, managed by our partners at Alida. The Office Pulse panel of more than 8,000 influential consumers and business decision makers includes C-level executives, millennials, middle management, small business owners, working women and working moms.

Contact Us

Mike Bakko
VP-Marketing/Research
MBakko@captivate.com

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