LeLynx Data Table
It hasn’t all been smooth sailing on the company’s climb towards the top, however. LeLynx.fr still faces the ongoing struggle of competing with traditional offline insurers.
“In France, historically, big insurance companies have very strong brands and customer relationships,” Etchegaray explains. “People are used to face-to-face contact with insurers. This is why insurance comparison sites are underused in France. It’s a combination of trust and familiarity.”
Currently, just 10% of new insurance quotes are purchased online in France, which pales in comparison with the UK, for example, in which 70% of new insurance quotes are purchased online.
This does, of course, mean that there is massive potential in the online insurance marketplace and it’s this potential that LeLynx.fr, as well as its competitors, are working so hard to maximise. Etchegaray sees strong market competition as a good thing. “As the online offering develops with more players, the use of online insurance comparison websites will become more familiar to people. Good online communication is key to standing out.”
To become successful, LeLynx.fr has focused on providing value-added information that helps customers make decisions and reinforces trust online. “Our mission is to make online insurance comparison an established reflex, just like online travel comparison,” Etchegaray explains.