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by ConsultaPanel Team, 31 Oct 2011


Short term insurance

One of the recent online surveys you took part in was the Short Term Insurance Conjoin Study. The client, who is a prominent insurance provider in South Africa, wanted to understand what factors their clients and potential clients deem important when acquiring short term insurance (your inputs are going to be used in the development of an innovative new product that will give you more insurance options that better suite your needs). 

A total of 1,226 respondents completed the survey on our online panel. We got some feedback from the researchers who worked on this survey: 
 
  • Respondents indicated that, when shopping for short term insurance, the three most important factors are: (1) Product features (2) Excess on claims (3) Insurance Brand. 
  • The three most preferred insurance brands were Mutual & Federal, Outsurance and Santam. 
  • Respondents indicated a strong preference towards fully comprehensive cover compared to the other options that were provided in the online survey. 
  • Only 1 in 5 respondents purchased their current short term insurance via the internet, whilst 1 in 2 indicated that they would use the internet as shopping channel for future short term insurance purchases. 
  • When asked about value added services, most respondents indicated that they would like vehicle related benefits to go with their short term insurance (these benefits included scratch and dent cover, roadside assistance and vehicle hire). 
  • Respondents preferred online channels to call centres or dealing with intermediaries. 
 
Award winners from the online survey
 
As many of you know, we often give online panel members awards and gift vouchers as a token of our appreciation when participating in online surveys. With this particular project, we gave away an iPad 2 and gift vouchers to the value of over R5000. 
 
The winners were selected from a lucky draw – and Nampombe Mnkeni- Saurombe was announced as the winner of the iPad 2! Nampombe Mnkeni- Saurombe - winner of the iPad 2 
 
“It is amazing and I still cannot believe that is happening to me. I am an academic and researcher so I know how important it is to participate in surveys. I have always been honoured to participate in your online panel,” said Nampombe when we told her she was the winner of the iPad 2. Congratulations and enjoy your new gadget! 
 



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