An analysis of insurance apps on the Google Play Store revealed that one in ten (10%) adults in the UK could now use Android apps to manage their insurance policies.
The survey, conducted by app marketing analytics platform App Radar, looked at four different insurance sectors, including auto, travel, life, and home insurance. Overall, the analyzed insurance apps recorded 40% more downloads in 2022 (2.2 million) compared to 2021 (1.6 million).
Total lifetime Google Play downloads reached an estimated 6.9 million at the end of 2022. Taking into account Apple App Store downloads, the total could have been as high as 13.8 million in 2022.
The most popular insurance app, measured by lifetime downloads on the Google Play Store, was Hastings Direct Insurance with 1.2 million downloads, followed by Cuvva with 1.1 million, Holiday Extras with 1 million and MyAviva with 652,000.
Post Office Travel (256%), Travel Mate – Cedar Tree (249%), Holiday Extras (190%), Dayinsure (100%), Rooster Car Insurance (91%) saw the largest download percentage in 2022 compared to 2021 -growth .
Looking at downloads in 2022, the top five apps were Hastings Direct Insurance (392,000), Holiday Extras (373,000), Admiral Insurance (246,000), MyRAC (201,000) and Cuvva (170,000).
Silvio Peruci, Managing Director of App Radar, said: “The global insurtech sector is reported to be worth almost $30 billion by 2026 compared to $8 billion in 2021. For the UK in particular, the market is estimated ripe for growth Potential £50bn revenue opportunity through disruption.
“This should serve as a red flag for the incumbents who are dominating the market with outdated technology. Startups in this space are eager to revolutionize their customers through new technologies and make it easier for them to insure. For example, according to our analysis, Cuvva is the second most downloaded insurance app in the Google Play Store, followed by DriveScore, Caura, Dayinsure and Rooster in the race for app users.
“As the cost-of-living crisis continues throughout the year, competition between insurance companies for new app users will only increase. A bigger challenge is that consumers are used to looking for the best deal on insurance policies. One way to retain and attract customers is by offering the best user experience and features they need, in addition to competitive policy pricing. As the insurtech sector continues to grow during uncertain economic times, app developers and marketers must conduct thorough market research to understand their customers’ needs and cut through the noise.”
Estimated downloads in Google Play Store
apartment
Estimated lifetime downloads (12/31/22)
Estimated downloads 2022
Estimated Downloads 2021
Hastings direct insurance
1.2m
392k
360k
Cuvva
1.1m
170,000
255k
Holiday Extras – UK Airports
1.1m
373k
128k
MyAviva
652k
150,000
132k
MyRAC
648k
201k
211k
Admiral Insurance
621k
246k
216k
mail travel
437k
139k
39k
vitality
225k
90,000
67k
DriveScore – Save on insurance
179k
154k
N / A
daily insurance
121k
71k
35k
Rooster Car Insurance
97k
63k
33k
Caura: make car management easy
82k
73k
N / A
Sainsbury’s Bank – Insurance
65k
17k
19k
Veygo by Admiral
63k
22k
13k
After miles
46k
14k
15k
elephant insurance
43k
9k
10k
SmartHealth by AIG
35k
14k
11k
ticker
35k
10k
11k
saga
34k
9k
9k
SURE. win-win insurance
32k
6k
8 thousand
Tempcover: car and van insurance
26k
8 thousand
11k
Honcho – Car and van insurance
15k
200
3k
HSBC Life Benefits Plus
13k
3k
5k
Travel Mate – Cedar
11k
2k
700
sterling in the short term
7k
3k
3k
LV= Assist
3k
3k
N / A
Wapp travel insurance
1k
1k
N / A
