According to a recent website study*, Generations X and Y are less likely to select the lowest-priced insurance brand compared to the Boomer generation. This is surprising for many. However, as someone who sits on the cusp of Generation X and Generation Y... it defined my own buying persona.
As part of the younger generation, I often do not buy based upon just price. The study agrees. Younger shoppers looking for insurance want more. They are looking for a more attractive, easier to navigate website that allow them to buy insurance on their own terms.
The study also says Generation Y shoppers are more concerned about understating what they are buying. They want the information communicated in a clear and intelligible way.
'The process of getting insurance quotes can be complex for shoppers; and for those unfamiliar with insurance terminology, it can be quite difficult and frustrating,' said Jeremy Bowler, senior director of the global insurance practice at J.D. Power. 'Insurers that provide a user-friendly, informative experience can make the process less intimidating and help improve the overall website shopping experience.'
While the study focused on large direct insurers, the lessons learned can also apply to agencies.
Large carriers and direct writers spend millions in research to tweak their websites to maximize the conversion rate for all generations. Take advantage of that research. See how their layout and navigation invite visitors deeper into their website.
Review how they lay out their information. Read it. Is it easy to understand for someone NOT in the insurance industry? When you open your insurance agency website side by side with a carrier, how does it compete? Show some friends and family. What do they think?
If you don't like the answer, then now is the time for you to step up your online presence. You have a lot of competition. There are the existing carriers and agencies. There is also new competition from other industries like technology and large retailers that will be vying for the same consumers as you.
Are you an existing Insurance Website Builder customer? Did you know you can upgrade the look and feel of your website? Design trends change. Your insurance agency website should change with them. Call us at (800) 383-3482 to get started.
* J.D. Power's 2014 Insurance Website Evaluation Study (IWES)
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