The main channel used to obtain Private Health Insurance continues to be the telephone, accounting for 37.8% of policies, down from 41.0% in September 2009. The other popular method of obtaining Private Health insurance, in person at a branch, accounted for 27.6%, down 1.6% point compared to nearly 2 years ago.
The use of the internet to obtain Private Health insurance policies, either through the insurer’s website or by using an insurance comparative website such as iSelect, has increased by nearly 50% since September 2009, increasing from 7.0% to 10.3%. Although this channel only represents a relatively small proportion on how Private Health Insurance is obtained, it is gaining traction in the market, providing customers with an ever increasing amount of information to make informed policy purchases.
% of Private Health Insurance policies obtained in different ways
Norman Morris, Industry Communications Director, Roy Morgan Research says:
“The internet has become an effective marketing tool used by Private Health Insurers in recent times. Insurance companies have invested considerable resources in ensuring their websites are user friendly, and their customers are provided with the necessary online information and tools to make informed policy decisions.
“With customers becoming increasingly time poor, the ease of the online transaction, together with the large amount of policy information and comparison tools available on the internet, has led to the gradual decline in the more traditional methods of visiting a branch or calling the company directly.
“Given that almost half the Australian population have now used the Internet for banking, it is likely that more and more financial transactions will be done online. However at this stage, it is important to understand who is choosing which method, and as much as possible about them.”
Select from an extensive range of detailed Roy Morgan Private Health Insurance Member Profiles, including MBF, Australian Unity, HBA, HCF, HBF, Medibank, Mutual Community, ahm, NIB and many more.
Select from our range of profiles on how Australians obtain their private health insurance, for example, directly from the insurance company over the phone, online, at a branch and even using an insurance broker.
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