Aug
25
2010

Customer Acquisition Strategies in Insurance

USAA regularly captures the highest share of visits within the Insurance category and receives nearly the amount of the next 3 combined. A large driver for the high share of visits to USAA.com is the limited number of physical locations, so the majority of contact takes place online or over the phone. One caveat is that USAA also offers banking and investing services in addition to insurance.
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Customer acquisition is always important within the Insurance industry, so another way to look at the category is ranking the websites by the share of new visitors to measure potential drivers of growth. Among all of the new visitors (defined as having not visited the website in the past 30 days) to the Insurance category last week, Geico attracted the largest with 8.73%, followed by Progressive and LowerMyBills.com – Insurance. Overall, 69% of visits to Geico.com were from new visitors last week, in contrast LowerMyBills.com – Insurance, an aggregator of insurance rates was among the highest with 91%.
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The sources of the new visitors vary somewhat across the websites, with Geico, for example, search is the main driver of new visitors to the website, followed by social networks and other insurance websites. Search is also the top driver for Progressive along with social networks and portal frontpages. In comparison, Lower My Bills – Insurance is more reliant on web-based email and television websites for customer acquisition initiatives.
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