Huge growth opportunities for online aggregators

MEDIA RELEASE FOR IMMEDIATE RELEASE

New Zealand provides huge growth opportunities for online aggregators

The rise of online aggregators has change the distribution of insurance products around the world. There has been huge success stories for comparisons in the UK with online aggregators now accounting for 60% of new motor insurance policies and 50% of personal insurance lines.* This growth trend can also be seen in other European markets and in Australia, however until now comparisons are yet to achieve similar success in New Zealand. Challenger travel insurance brands entering the market in New Zealand open up this space and provide growth opportunities for comparisons.

Comparetravelinsurance.co.nz Associate Director Natalie Ball says:

“Comparison websites are inevitable in New Zealand. In the last few months we’ve seen an increase in Kiwi’s researching their travel insurance by using websites like ours.”

“Consumers are generally savvier to comparing these days. They compare flights, credit cards and energy bills, why not the same for insurance? Consumers like to be informed and do their own research before they buy. Sites like comparetravelinsurance.co.nz allow consumers to easily compare travel insurance policies to ensure they’re getting the cover they need for their trip at the right price.”

Aggregators a quick win sales channel

“For insurance companies in New Zealand comparisons are a highly targeted sales channel. Offering products through aggregators allows insurers to obtain new customers without putting marketing dollars at risk. Reputable insurers offering competitive products at the right price generally benefit the most, as they remain the most appealing to the consumer. Insurers benefit from the huge amount of purchase behaviour data taken from comparisons – this data can assist insurers to tailor their products to better suit the needs and wants of customers.”

“By not being present on aggregator sites, Kiwi insurers are missing out on the opportunity to be fairly presented to someone actively looking to purchase travel insurance. A brands willingness to be compared side-by side builds trust in the customer and demonstrates that they are not fearful of transparency.”

Comparisons are a tool of convenience for consumers

Ball says “Researching multiple insurance policies is time consuming and a comparison like ours can provide many quotes with the same time invested as enquiring directly with one provider. That’s the service that we provide – for free.”

“We compare challenger brands offering the same features and benefits as the bigger players. We only work with reputable companies to ensure our customers are protected.”

Anna Henwood, Online Manager, STA Travel said: “We’ve found comparisons websites to be a very successful platform for us for airfares, so we look forward to replicating this success with our comprehensive travel insurance offering on comparetravelinsurance.co.nz.”

Antje Lauterbach, Marketing Manager, Columbus Direct Travel Insurance said: “We’re excited that Kiwis can now compare our full range of travel insurance products oncomparetravelinsurance.co.nz. With our updated booking engine and new online medical screening we’ve made it easier than ever to customise our policies after comparing. Comparison sites are a successful channel for us and we’re looking forward to working with comparetravelinsurance.co.nz to help more Kiwis find the right travel insurance cover.”

Fruitful future for comparisons in New Zealand

Ball concluded “Travel Insurance is all we cover and we plan to cover it well. The site will continue to evolve to meet consumers’ demands and preferred purchasing behaviours.”

“We look forward the big insurers participating in our comparison to bring real choice for the benefit of Kiwi consumers.”

We’re actively looking to add more insurers to our site. Please get in touch at info@comparetravelinsurance.co.nz to learn more about our effective sales channel for your brand.”

About comparetravelinsurance.co.nz

Comparetravelinsurance.co.nz is New Zealand’s leading comparison site solely focussed on travel insurance. They are owned and operated by CoverDirect NZ Limited (INC 3526051) and the quote engine is powered by 'Compare Insurance’.

Comparetravelinsurance.co.nz currently compares seven travel insurance brands including 1Cover, American Express, Columbus Direct, Compass, DownUnder, STA Travel, Webjet whose products are underwritten by Allianz, ACE, and Lloyds of London.

Their comparison provides unbiased travel insurance information making it easy to compare travel insurance quotes, policies and levels of cover in a few simple steps. Best of all, their service is free! Their quote engine will provide you with the same great price that you will get by going direct to the insurers site.

© Scoop Media