Drop-offs in conversion rates on aggregator sites are either at the beginning or at payment stage, a comparison site has said.
Payingtoomuch.com has reported the observations following the launch a cloud-based monitouring software called Salmon by Eclipse Financial Systems.
Michael Ward, managing director of Payingtoomuch.com and Eclipse, said the software rebuilt exactly what a consumer was looking at in real time.
One main drop off point for conversion rates was at the site's first stage of six; entering personal details. Ward said these people could be defined as browsers who were "not serious" about purchasing.
The other common drop-off stage was at the final inputting of debit card details. According to Ward, people lost confidence at that point despite entering pages of medical details.
He said: "If the person drops off, the site will wait 10 minutes and then we call them to offer them the option to pick up where they left off. Conversion rates have improved by 33% in this way.
"There will always be face-to-face advisers serving some of the market but we need better online offerings too."
Ward said one issue the site had come across was people muddling up different types of protection, namely term assurance with whole of life and terminal illness with critical illness cover.
But the site does not offer an advice service, rather a call-based contact point on a customer service level.
He said: "We have a cross over point whereby people may need help with top end stuff such as estate planning and tax matters and for that they would need an adviser, but others just need core protection and are not inclined to seek advice. But the line is blurry.
"It is key that online capability is innovated to help fill the protection gap. A static site is simply not going to be enough."
