South Africa Brand Report: Customer Profile of Short-term Insurance Companies

This comprehensive report examines South African customers of Short-term Insurance products: Short-term Insurance usage and brands trends with a user forecast for 2016-2020, Geo-demographic trends (2011-2015) among short-term customers in South Africa, Detailed geo-demographic brand profile and brand penetration analysis and Cell phone and Internet usage (2015).

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Compiled: November 2016 (90 pages) This comprehensive report examines South African customers of Short-term Insurance products: Short-term Insurance usage and brands trends with a user forecast for 2016-2020, Geo-demographic trends (2011-2015) among short-term customers in South Africa, Detailed geo-demographic brand profile and brand penetration analysis and Cellphone and Internet usage (2015).

The consumer analysis is based on the latest annual consumer survey among a nationally representative sample of more than 25 000 people - All Media and Products Survey conducted by the South African Advertising Research Foundation.

SOME OF THE KEY QUESTIONS THE REPORT WILL HELP YOU TO ANSWER ARE:

*Who are the key players and brands in the market and how are they positioned?

*What are the important consumer and market trends that should be included in your business strategy?

*Who are the users of Short-term Insurance products and what is the user forecast for 2016-2020?

*What are geo-demographic trends (2011-2015) among Short-term Insurance clients? e.g. age, gender, affluence, life-stage, geo-demographics

*How do you engage with them via internet and cellphone?

 

It provides a comprehensive consumer profile of the Short-term Insurance category (minimum category sample = 1 812), as well as a detailed segmentation by brand, namely: ABSA iDirect, Auto And General, 1st For Women, Budget, Discovery Insure, Hollard Insurance, Mutual And Federal, Outsurance, Santam, and Standard/Stanbic.

 

It examines in detail the demographics, lifestyle, media consumption and cellphone and Internet usage of the entire Short-term Insurance segment by brand, making it a vital reference report for anyone wanting to understand this market.

 

WHY PURCHASE THIS MARKET RESEARCH REPORT?

*The report focuses on consumer-based intelligence – the most valuable brand asset

*Provides a comprehensive analysis of the “big picture” with local consumer/market trends

*88 page report with 80+ charts, graphs, tables

*Salient points and key insights are highlighted and summarized in comment boxes on each page

 

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  1. South African Population Demographics Overview

1.1. South Africa At A Glance: Size; Population; GDP; Gini Coefficient; Life Expectancy; Human Development Index; Top Exports And Import Goods; Top Trading Partners
1.2. SA Province Overview (2015): GDP Contribution And Population Size
1.3. SA Age Estimate (2015): South African Population Age Distribution
1.4. SA Population Race and Gender Estimate (2015): Race; Black; White; Coloured; Indian or Asian. Gender; Male or Female

  1. Company/Brand Analysis

2.1 Outsurance, Santam, Auto and General, Discovery Insure, ABSA iDirect, Budget, Mutual & Federal, Standard/Stanbic, 1st for Women, and Hollard Insurance

  1. Survey Methodology
  2. Short-term Insurance Usage and Brand Trends (2011-2015)

4.1. Insurance Customer Trend among Brands: Outsurance, Santam, Auto and General, Discovery Insure, ABSA iDirect, Budget, Mutual & Federal, Standard/Stanbic, 1st for Women, and Hollard Insurance

       5. Purchaser Forecasts

5.1. Market Dynamic Drivers and Restraints

5.2. Purchaser Actual (2011-2015) vs Purchaser Forecast (2016-2020)

           6. Geo-Demographic Trends among Short-Term Insurance Purchasers (2011-2015)

6.1. Gender: Male; Female
6.2. Age: 15-19; 20-24; 25-34; 35-44; 45-49; 50-54; 55-64; 60+
6.3. Lifestage: At Home Singles; Starting-out Singles; Couples; Parents; Single Parents
6.4. Population Group: Black; White; Coloured; Indian
6.5. Home Language: Afrikaans; English; Zulu; Xhosa; North Sotho; South Sotho; Tswana; Tsonga; Venda; Swazi; Ndebele
6.6. Province: Western Cape; Northern Cape; Eastern Cape; Kwazulu-Natal; Free State; Mpumalanga; Gauteng; Limpopo; North West
6.7. Community: Rural; Settlement; Small Village; Large Village; Small Town; Large Town; City; Metropolitan
6.8. LSM: LSM 1; LSM 2; LSM 3; LSM 4; LSM 5; LSM 6; LSM 7; LSM 8; LSM 9; LSM 10

             7. Geo-Demographic profile of Short-term Insurance Purchasers by Brand (2015)

7.1. Gender: Male; Female
7.2. Age: 15-19; 20-24; 25-34; 35-44; 45-49; 50-54; 55-64; 60+
7.3. Lifestage: At Home Singles; Starting-out Singles; Couples; Parents; Single Parents
7.4. Population Group: Black; White; Coloured; Indian
7.5. Home Language: Afrikaans; English; Zulu; Xhosa; North Sotho; South Sotho; Tswana; Tsonga; Venda; Swazi; Ndebele
7.6. Province: Western Cape; Northern Cape; Eastern Cape; Kwazulu-Natal; Free State; Mpumalanga; Gauteng; Limpopo; North West
7.7. Community: Rural; Settlement; Small Village; Large Village; Small Town; Large Town; City; Metropolitan
7.8. LSM: LSM 1; LSM 2; LSM 3; LSM 4; LSM 5; LSM 6; LSM 7; LSM 8; LSM 9; LSM 10

             8. Geo-Demographic penetration of Short-Term Insurance Purchasers by Brand (2015)

8.1. Gender: Male; Female
8.2. Age: 15-19; 20-24; 25-34; 35-44; 45-49; 50-54; 55-64; 60+
8.3. Lifestage: At Home Singles; Starting-out Singles; Couples; Parents; Single Parents
8.4. Population Group: Black; White; Coloured; Indian
8.5. Home Language: Afrikaans; English; Zulu; Xhosa; North Sotho; South Sotho; Tswana; Tsonga; Venda; Swazi; Ndebele
8.6. Province: Western Cape; Northern Cape; Eastern Cape; Kwazulu-Natal; Free State; Mpumalanga; Gauteng; Limpopo; North West
8.7. Community: Rural; Settlement; Small Village; Large Village; Small Town; Large Town; City; Metropolitan
8.8. LSM: LSM 1; LSM 2; LSM 3; LSM 4; LSM 5; LSM 6; LSM 7; LSM 8; LSM 9; LSM 10

           9. Cell phone and Internet

9.1. Cell phone usage by brand

9.2. Top 10 Daily cell phone activities

9.3. Internet access (Past 7 days)

9.4. Internet purchase (last 12 months)

9.5. Top 10 internet activities (computer)

9.6. Top 10 internet activities (cell phone/ mobile)

 

                  10. Summary of Findings

 

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Our comprehensive analyses include 5-year consumer trends and forecasts expected consumer growth and trends in a market over the next five year period. This forecast considers the compound annual growth rates (CAGR) achieved in the 5 previous years (4 periods), as well as market drivers and restraints as the basis for determining expected future growth.

The forecasting is done in-house based on our forecasting background, experience and expertise.

SECONDARY/DESK RESEARCH

For our comprehensive sections on the Global and South African market trends and overview, we make use of the most credible and accurate market intelligence sources, our own proprietary databases, as well as other recognized data sources that are available in the public domain.

CONSUMER ANALYSIS

The majority of consumer analysis is based on the All Media and Products Survey conducted by the South African Audience Research Foundation. For more detailed info, please visit www.saarf.co.za.

Methodology

Analytix BI uses AMPS to obtain an in-depth understanding of various consumer markets in South Africa. AMPS is a single source survey, based on media usage, product consumption and demographics collected from in-home face to face personal interviews with the same respondents. AMPS is currently conducted using Double Screen Computer Assisted Personal Interviewing technology (DS-CAPI) and is one of the only four media audience surveys in the world that replaced the previous paper-based interviews. With DS-CAPI, mastheads and show cards on separate computer screens/laptops are handed to respondents. The interviewer’s laptop and the respondent’s screen/laptop are linked and are programmed so that the right mastheads and show cards come up on the respondent’s screen/laptop at the right questions. The survey is conducted annually in two fully national fieldworks between January – June and July to December, over 25 000 adults (15+ year olds) are interviewed, in both rural and urban areas, with computer-assisted personal interviewing.

Sample Design

The sample is designed by using multi-stage area stratified systematic probability sampling. In order to measure this universe a large, scientifically drawn, multi-stage, area stratified, probability sample is taken to represent the population of South Africa. Using population estimates, the sample is then grossed up to the total population so that findings can be looked at in terms of both percentage and thousands of people .The residential addresses are arranged within each geographic areas arranged alphabetically by suburb name, street name within suburbs and numerically by street number within street. Multiple dwelling units such as flats, cluster houses with the same street number are listed individually.

SAARF LSM

Analytix BI also uses the SAARF LSM (Living Standards Measure) rating, which is the most widely used marketing research tool in Southern Africa. SAARF’s LSM tool segments the South African market based on universally applicable variables according to living standards such as urbanisation and ownership of possessions such as cars and major appliances. This further divides the population into 10 LSM groups, 10 (highest) to 1 (lowest). Previously eight groups were used but this changed in 2001 when the new SAARF Universal LSM consisting of 10 groups was introduced. For more detailed information on SAARF LSM, go to www.saarf.co.za

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