Forecast Report

US Online Insurance Forecast, 2010 To 2015

US Online Insurance Sales Will Grow Steadily Through 2015

April 21st, 2011
Ellen Carney, Principal Analyst
Ellen Carney Principal Analyst
With contributors:
Vikram Sehgal , Carrie Johnson , Beth Hoffman

Summary

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.

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