More Americans are turning to the Internet for information about life insurance, according to a new study.
Reston, Va.-based comScore, a digital marketing firm, found that searches for life insurance information grew to 16.6 million queries in 2009, an increase of 15% from the previous year.
“As more Americans utilize the Internet to research life insurance policies for themselves or family members, it is increasingly important for insurers to have a strong brand presence online,” said comScore director Susan Engleson in a statement. “Now more than ever, the Internet is playing an important role in this complex financial planning decision and insurers are experiencing varying degrees of success at meeting online consumers’ needs.”
In addition to searches for life insurance rising, consumers requested 2 million online quotes for coverage, according to comScore, demonstrating an increased comfort and reliance on the Internet in shopping for complex financial services.
“The Web gives insurers another touch point to engage with consumers on various levels,” Engleson said. “Whether it’s providing information on coverage options or fulfilling a quote request, the Internet often represents a critical decision-making phase in the life insurance purchase funnel.”
The websites for MetLife, New York Life and State Farm ranked tops in terms of visits as a result of the term “life insurance” being searched online, according to the study.
Total Searches on Phrases Containing the Term 'Life Insurance'*
2009 vs. 2008 - Total U.S. – Home/Work/University Locations
Source: comScore Marketer - Searches (MM) 2008 2009 Percent Change
Life Insurance Searches 14.4 16.6 15%
*Based on broad match of the search term "life insurance"
An analysis of the top insurance sites visited following searches including the term "life insurance" revealed that MetLife.com was the most frequented insurance site visited as a result of the search, with 5.8 percent of total search clicks (paid and organic) landing on MetLife.com. NewYorkLife.com was the second most referred site with 2.8 percent of search clicks, followed by StateFarm.com with 2.5 percent.
Top Insurance Sites Visited as a Result of 'Life Insurance' Searches*
Q4 2009 - Total U.S. – Home/Work/University Locations
Source: comScore Marketer
% of Referred Search Clicks for 'Life Insurance' Searches
- MetLife.com 5.8%
- NewYorkLife.com 2.8%
- StateFarm.com 2.5%
- SelectQuote.com 1.7%
- Accuquotelife.com 1.6%
- GerberLife.com 1.5%
- RelianceLife.com 1.4%
- GlobeontheWeb.com 1.2%
- Prudential.com 1.2%
- HSBC.com 1.1%
*Based on broad match of the search term "life insurance"
About comScore
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