68% of new car insurance customers apply online

The number of people applying for car insurance online has risen dramatically according to new research by Google.

The Google Australia Automotive Insurance Study 2009 showed that  demonstrate the growing reliance of online as a channel for researching and applying for car insurance with 68% applying online with three quarters using the internet during the initial research stage. The study, conducted by Global Reviews,  shows a dramatic rise over March 2008 when a similar study found only 28% of users applying for car insurance online.

Mel Silva, Google Australia’s Head of Financial Services said "This study has revealed an untapped opportunity in the highly competitive car insurance market to attract customers at the moment of relevance while they are researching insurance options online."

Other findings include:

• 53% of respondents have a car insurance provider in mind when they start their search
• 37% end up choosing a different insurance provider
• 49% of customers rated an easy-to-use quote and application process as most important when deciding on a provider.
• 52% phone the provider for more information
• 47% ask family and friends for advice
• 30% refer to their renewal letters for information.
  
• 82% of people obtain three or more quotes