The Need
A leading UK insurance brand was looking to understand how brand, price and position impacts consumer choice in the motor insurance market when shopping on price comparison websites. The brand also needed to find the optimal positioning and pricing strategy for their portfolio of brands, and figure out if their core brand had the brand strength to enter price comparison websites.
Our Approach
Opinium conducted a complex conjoint study with motor insurance holders that emulated the environment of a price comparison website. This allowed us to investigate the appeal of big brands on PCWs, measure the impact of different pricing strategies, explore the potential for brand portfolio cannibalisation and determine the optimal brand positioning across the portfolio.
The Outcome
The research produced an interactive simulator that allowed the client to explore a nearly-infinite number of scenarios to understand the best positioning. Our story-led, recommendation-based analysis empowered the client to proceed with launching new brands onto price comparison websites and helped them understand the impact on commercial achievement for the chosen strategy.
