Surges Dominate The Search And Social Landscape For Insurance
The latest report on search and social, analyses fresh data on Insurance mentions and demands. The report, Insurance Spins Fast on Social, looks at consumer behaviours, interests and attitudes to reveal a pattern of ‘topic surges’ since the pandemic started. Starting with claims and cancellations these long bell-shaped curves of conversation and search have moved Brexit concerns on travel and requests for recommendations. Underlying all chatter since March has been a constant demand for better clarity on policies.
Co-authored by Immediate Future and Sagittarius Agency, the report also looks at the top 10 insurers alongside the top comparison website to detail share of voice. Admiral, Aviva and AXA get the most mentions on social. Admiral consistently gains the largest share of positive sentiment. In the summer, 61% of posts were identified as being positive. None of the other brands achieved such advocacy.
Katy Howell, CEO 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 peoples’ 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, CEO 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. More on the report findings at http://bit.ly/InsuranceInsight