Understanding the role of aggregators in life insurance decision making

Business objective

The objectives of the research study are to understand how valuable or not aggregators are in the term life insurance purchase journey, how and when aggregators are used and what is the trade off between brand, price and product quality.

Our solution

More than 2000 on line interviews were conducted with consumers in the market for life insurance – either recent purchasers or actively considering purchasing in the near future
In order to assess the trade off consumers are making we needed to put them in a situation as close to real life as possible within the interview itself
A choice based conjoint modelling technique was used to understand the trade off consumers made

The result

The results provided our client with key statistics in terms of aggregator usage segmented by key identifiable demographics
The client was also able to see the reasons why consumers opted to research and buy on line (what role was the aggregator fulfilling)
The conjoint simulator allowed the client to fully understand the implications of various scenarios – e.g. what happens if we reduce the price by x% or increase by y%?

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