Thailand: Online insurance broker surprised at age distribution of its customer base
Source: Asia Insurance Review | Dec 2019
More older customers are purchasing auto insurance plans online than expected, online motor insurance broker Roojai.com has found.
Based on its base of 50,000 customers after nearly four years of operations, Roojai.com said that the age bracket with the biggest proportion of customers is 30-39, accounting for 46% of the total number of customers.
This is followed by customers aged 40-49 making up 28%, while those aged 50-64 comprise 15%; those aged 18-29 make up 10% and those who are 65 and older comprise 1%.
“We were quite surprised at the age brackets of online purchasers as customers aged 40 and over contribute more than 40% of the total, and most of them make online insurance payments,” said Roojai.com founder and chief executive Nicolas Faquet.
Males and females make up an equal proportion of Roojai.com’s online auto insurance buyers.
Mr Faquet said another surprise is customers outside Bangkok and metropolitan areas account for half of buyers, boasting a re-purchase rate of some 75%.
Most customers are not interested in the location of the company’s headquarters nor service branches, but rather focus on insurance premiums and the service provided in the event of an accident, he said. A