Survey: More consumers trending toward purchasing insurance directly

Posted on: Monday, August 08, 2011

Insurance prospecting for agents is often a function of how consumers are opting to purchase their policies. And according to a new study, they appear to be gravitating toward purchasing life insurance directly.

The survey, conducted by the Life Insurance and Market Research Association, found that while most insurance leads purchase their life policies from insurance professionals and agents - 64 percent - a greater chunk of them are going to straight to the source. In short, 26 percent - one in four adults - prefer to buy their life insurance either through the mail, over the phone or online.

"Obviously, the Internet has fundamentally changed consumers' buying practices over the past 15 years," said Marvin Feldman, president and CEO of the LIFE Foundation.

Other findings from the study indicated the consumers who were the most likely to purchase life insurance directly tending to be those who were younger, as 31 percent of consumers between the ages of 25 and 44 said they preferred to buy online.

This study emphasizes the importance of online insurance leads as a part of an agent's marketing mix.

Posted In: Insurance News, Marketing & Advertising

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