Market Segmentation Survey
For Insurance Industry

Use this template to identify your market segment for the insurance industry.

Market Segmentation Survey For Insurance Industry

1. Which age group do you belong to?(MCQ-Single Selection)
○ 18-25 years old
○ 26-35 years old
○ 36-45 years old
○ 46-55 years old
○ 56+ years old

2. What is your primary reason for seeking insurance coverage? (MCQ-Multiple Selection)
□ Personal/family protection
□ Investment purposes
□ Business/entrepreneurial needs
□ Retirement planning
□ Other (Please specify)

3. How would you describe your current life stage?(MCQ-Single Selection)
○ Student/Young professional
○ Newly married/Starting a family
○ Established career/Building assets
○ Nearing retirement/Retired

4. Which of the following best represents your annual income bracket?  (MCQ-Single Selection)
○ Below $30,000
○ $30,000 – $50,000
○ $50,001 – $75,000
○ $75,001 – $100,000
○ Above $100,000

5.What type of insurance coverage are you most interested in currently?(MCQ-Multiple Selection)
□ Life insurance
□ Health insurance
□ Auto insurance
□ Home insurance
□ Travel insurance
□ Property insurance
□ Other (Please specify)

6. Are you currently a policyholder with <Your Brand>? (MCQ-Single Selection)
□ Yes
□ No

7. How do you usually prefer to purchase insurance? (MCQ-Single Selection)
○ Online (websites, apps)
○ Through an agent/broker
○ Over the phone
○ In-person at an office/branch

8. Which of the following factors are most important to you when choosing an insurance provider? (MCQ-Multiple Selection)
□ Reputation/Brand trustworthiness
□ Pricing/Competitive rates
□ Range of coverage options
□ Customer service quality
□ Convenience/Ease of access
□ Other (Please specify)

9. In what ways do you prefer to receive information about insurance products? (MCQ-Multiple Selection)
□ Email newsletters
□ Social media updates
□ Website/blog articles
□ Direct mail
□ Phone calls
□ Other (Please specify)

10. What additional benefits or services would encourage you to switch to <Your Brand> for insurance? (Open-Ended)
Ans: ___________________________________________

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People seek insurance coverage for plenty of reasons. They want to shield their families, travel plans, automobiles and want to steer clear of unwanted incidents. So how do you identify your target market for your insurance brand? Use our market segmentation survey to chalk out your target audience. 

It is time to know your demographics better- their age, occupation and income levels. This will help you suggest better insurance coverage for potential customers. Find out their reason for choosing a particular insurance scheme. Understand their most preferred communication channels and what would make them switch to a competitor. Get data-driven insights with this survey template.

Additional resources to help you win your CX protocols

Get answers for commonly asked questions on Merren. Successfully collect customer feedback for your industry.

Read about improving customer satisfaction metrics, methods to collect feedback and information to boost your CX.

Hear from the industry experts on how to navigate the wide world of customer experience.

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