Why Read This
In 2010, online motor and home insurance sales in the US grew to $8.4 billion, which represents less than a 4% share of insurance sales in these two categories. What's behind that online single-digit share of insurance sales? Consumers remain wedded to offline channels — mail in particular. But thanks to converging business drivers, the gap between online shopping and buying will shrink, and the share of sales through digital channels will grow to nearly $14 billion in 2015, representing a nearly 11% compound annual growth rate (CAGR) and slightly more than 6% of total category insurance sales. This document outlines the opportunity for insurers online and discusses how eBusiness and channel strategy executives can capitalize on that opportunity.