Baby Boomers increasingly relying on Web for information

Celent estimates that 90% of personal auto insurance purchases in the United States will be researched online by 2011.Nicolas Michellod, a Celent analyst, delivered a Webinar entitled ‘Online Insurance Sales and Marketing: What’s Happening and What’s Next?’Michellod pointed to Celent research that found approximately 80% of 2008 auto insurance purchases were at least Web-researched, more than 30% of auto insurance purchases were Web-initiated, and approximately 15% were entirely researched, initiated and purchased online. “Celent expects those numbers to continue to increase through 2011, when 90% of auto insurance purchases will be researched online,” Michellod said.“It’s very important to see that Baby Boomers prefer to get information over the Web, 50% of them prefer to get info over the Web and only 34% in person,” he continued.For those that are “mid-career,” 57% prefer to get information from the Web. And when it comes to those retiring or retired, only 17% prefer the Web as a primary source of information.“It seems that the figures show that insurance companies have to face new kinds of customers and these [new types of customers] will simply push insurers into more direct insurance strategies.”