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Hitwise Intelligence - Robin Goad - UK
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UK’s most affluent groups more likely to search for travel insurance than car insurance
November 08, 2010
One of the amazing assets of our data is the breadth and depth of information we can use to provide greater insight into online trends. Often when I’m writing these blog posts I’ll be describing what search terms people are using, and the websites which are receiving traffic from those search terms.
To get a more in-depth analysis, one of the tools we have available is our segmentation system called Mosaic. Mosaic classifies the UK population into 15 different groups and 67 sub-groups based on their demographic, behavioural or socio-economic charatceristics.
Every quarter we analyse the changing trends online in the finacial arena, for both financial products (such as credit cards) and for insurance products (such as car insurance). Using Mosaic it’s possible to see what kinds of people are searching for the various financial and insurance products on the market.
The spider diagram below shows which Mosaic groups are searching for which insurance products.
What the data shows is that there are certain groups which have a much higher liklihood of searching for different insurance products. Taking the affluent ‘Alpha Territory’ group as an example, out of all the insurance terms that this group searches for, ‘Alpha Territory’ Internet users are much more likely to search for travel insurance than motor insurance.
The data above is based on an index score, calculated as the number of searches on a product portfolio per head of online population. So the ‘Alpha Territory’ score of 123 does not mean that more searches for travel insurance come from the ‘Alpha Territory’ group than any other. Instead, the index score of 123 indicates that per person, the ‘Alpha Territory’ group are the most prolific searchers for travel insurance and account for a greater proportion of searches than would be expected for a group of their size.
Looking at the Mosaic trends there is a clear similarity between those searching for motor insurance and those searching for “other” insurance. There are some stark differences however when looking at the travel and home insurance Mosaic demographics. In particular, travel insurance is a priority for ‘New Homemakers’, ‘Terraced Melting Pot’ and ‘Liberal Opinions’, typified by young urbanites who live in small modern homes but don’t necessarily have lots of money. Meanwhile, home insurance is more of a priority for ‘Professional Rewards’, ‘Active Retirement’ and ‘Surburban Mindsets’, typified by slightly older and maturing professionals in larger homes with higher incomes.
The interesting point for marketers is that once a particular Mosaic group has been identified as a key audience for their product, other websites can be advertised on which also appeal to the same Mosaic group. Companies trying to sell travel insurance for example have a high proportion of their visits from the ‘New Homemakers’ group. Other websites that this group frequent more than the industry average include Baby Centre UK, Domino’s Pizza and Polish social networking community Nasza Klasa. These are just a few examples of websites marketers could use in order to speak to their key demographic for travel insurance products.
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Posted by Robin Goad at 05:40 PM
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In Categories Demographics | Insurance | Mosaic lifestyle
