Based on a survey of over 1,000 consumers, Home Assistance Metrics: Consumer Approaches to Home Emergency Insurance in Canada offers detailed and unique insights into the behaviour of Canadian consumers in the context of home protection plans and warranties.
Comprising both an analytical report and a convenient data file in Excel format, the research quantifies the proportion of consumers who hold home emergency cover, segmented by gender, age, annual household income, home ownership status and employment status, and according to whether they have acquired regular home insurance or not. It also investigates the types of policy that they acquire (e.g. insurance, warranties or repair plans for air conditioning units, electrical emergencies or faults, problems related to gas boilers or furnaces, problems related to plumbing or water supply, or more comprehensive policies covering two or more of these elements), and the distribution channels and interfaces that they use to take out such cover. Distribution channels include packaging with regular home insurance or banking products plus (for stand-alone policies) direct sales by insurance or assistance companies (including tied agents, where relevant), sales through electricity, gas or water companies, sales through product / system manufacturers, and sales via insurance aggregators or brokers / independent agents; distribution interfaces include face-to-face, online, inbound phone, outbound phone and postal sales.
Finally, the report analyses frequency of calls for assistance using home emergency cover split not only by age and annual household income but also by type of policy, thereby highlighting importance differences in the propensity to use home assistance policies by customer group.
This report can be used in one or more of the following ways:
to benchmark your organisation’s performance in home protection plans and warranties: given current uptake in Canada, could your company be selling more of this type of cover?
to understand the different types of home emergency cover that consumers are buying and the latent sales potential as defined by the proportion of consumers that have not yet acquired such cover but that express an interest in doing so;
to evaluate the opportunities for distributing home emergency cover through affinity and corporate partners: to what extent will consumers buy through these means in Canada?
to assess the apparent willingness of consumers to purchase this form of cover online: given the breakdown of online sales by device type, what is the scope for marketing more effectively to this audience?
to identify the customer segments that are most likely to acquire home protection plans and warranties, and those that use their policies most often to call for assistance: should these latter groups be charged more for their cover than less demanding customers?
For further information about this research, please access the table of contents and series prospectus by clicking on the corresponding links to the left-hand side of this page, or e-mail [email protected]