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What are the emerging brands in the home insurance industry?

Peter, December 29, 2023March 7, 2024

Deflation in the home insurance market has led to reduced competition between brands and less movement in the market. Our latest figures show that a market share gain of +0.21% propelled a home insurance brand into the top 10 in our growth charts, which is significantly lower than the rate required to be a top 10 grower in the motor market.

Top 10 brands for overall market share

Brand Oct 20 – Mar 21
Aviva 7.1%
Direct Line 6.0%
LV 5.8%
Admiral 5.7%
Churchill 4.7%
Halifax 4.7%
Saga 4.2%
AXA 4.0%
Nationwide 3.2%
Policy Expert 3.1%

Aviva remains the top brand, but even with QuoteMeHappy added, it can’t surpass the real market leaders Direct Line Group. In terms of market share increase, the scenario is more varied.

Top 10 brands for momentum (market share increase)

Brand Oct 20 – Mar 21
Halifax 0.96%
Admiral 0.75%
Sainsbury’s Bank 0.72%
Policy Expert 0.56%
Churchill 0.40%
Direct Line 0.33%
Nationwide 0.27%
British Gas 0.27%
AXA 0.24%
Post Office 0.21%

Smaller brands are making their mark in the home insurance market, with Halifax leading the momentum chart. British Gas stands out for growing its customer base by 41.5%.

Top 10 brands for growth

Brand Oct 20 – Mar 21
British Gas 41.5%
Sainsbury’s 32.8%
Post Office 27.7%
Halifax 25.5%
Policy Expert 21.6%
Admiral 15.1%
Privilege 11.7%
RIAS 11.7%
Hastings Direct 10.7%
Churchill 9.2%

The Post Office ranks third, with other key brands like Admiral, Churchill, Halifax, and Policy Expert showing strong growth and market performance.

To gain insights into consumer behavior during the insurance renewal process, consider utilizing the Insurance Behaviour Tracker (IBT). This survey provides valuable information on consumer behaviors, attitudes, and intentions, helping you make informed decisions and develop effective marketing strategies.

[Learn more](link to learn more)

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