Chicago — They'll look, but will they buy?
A new study says that although consumers seeking health insurance will use the Web to research their purchase, only a small percentage will consummate the transaction online. The study was performed by Chicago-based Norvax Inc., which analyzed data from more than 446,500 online insurance shoppers who voluntarily requested a quote or contact from insurance agents between June and August of 2008. The data was analyzed for trends in five different categories: geography, current insurance status, insurability, gender and age. "While there is a growing number of people looking for insurance online, we see that only about 5-10% are really confident enough to complete the purchase online," says Clint Jones, CEO of Norvax. "The remaining 90% want guidance. That's where the important role of brokers and agents comes in. They are the trusted advisers to whom consumers can turn to get the advice and counsel they need to select the best plan for their situation."
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