Annuities Analysis, Pt. 3

Part
01
of three
Part
01

Annuities Aggregators: TAM

Little preexisting statistics for the annuities aggregators market exist in order to find an exact estimate for the total addressable market. However, we have found a number of statistics and insights that may shed light on the market reach for annuities aggregators.

Market Size

  • According to the Insurance Information Institute, the annuities industry market size in 2018 was $233.8 billion.
  • In 2019, annuity sales reached $241.7 billion, the largest in 11 years.
  • According to a 2019 press release, Blueprint Income, an annuity aggregator, has over 1.5 million users.
  • Of all consumers of annuities and life insurance policies, 45 percent reported finding company websites and annuities aggregators to be the "most useful online destinations."
  • As of 2018, there are 312 million internet users in the U.S.

Target Market

  • According to a 2013 Gallup and Committee of Annuity Insurers survey, "There is a great deal of stability in the demographics and attitudes of individual annuity owners."
  • The Gallup and Committee of Annuity Insurers survey found that non-qualified annuity owners are 51 years old on average at the time of their first purchase, with nearly 40 percent being younger than 50.
  • According to a LIMRA study, half of all annuity purchasers are under the age of 60.
  • The majority of current annuity owners are women: 51 percent versus 49 percent male.
  • The majority (58 percent) of annuity owners are married.
  • Annuity purchasers' median annual household income is $64,000, with 80 percent of incomes below $100,000.

Future Growth

Research Strategy

To find information directly related to the total addressable market size of annuities aggregators, we researched examples of specific platforms and marketplaces where consumers receive service and information about annuities, news articles about these aggregators, and their company websites. We were able to conclude that the users of annuities aggregators would have access to the internet and would fall under the general target demographics of those purchasing annuities. However, due to the limited information available on the market size, revenue, and marketing demographics of annuity aggregators in the US, we then collected information on the annuities industry market size, the demographics of those purchasing annuities, and predictions for growth or decline in the annuities industry.

Part
02
of three
Part
02

Top Annuities Aggregators, Pt. 1

Three of the top annuities aggregators in the United States are Annuities.com, Immediate Annuities, and Consumers Advocate. The metric used for this ranking was the traffic derived by each annuity aggregator in the US. Information on this ranking can be found in the attached spreadsheet.

Annuities.com

  • This is the link to the company's website.
  • As per information available on SimilarWeb, Annuities.com commands 99.12% traffic of users from the United States.

Immediate Annuities

  • This is the link to the company's website
  • Immediate annuities attracts 96.51% traffic of users from the United States.

Consumers Advocate

  • This is the link to the company's website
  • According to SimilarWeb analytics, consumers advocate attracts traffic of 93.39% from the United States.

Research Strategy

In our attempt to find the top three annuity aggregators in the US, we tried to source information as per the required metrics [users, revenue, or market share]. By utilizing information on various business directories such as Crunchbase, Owler, and Hoover, the required information was not available on the public domains. We then resulted to get information on traffic of users commanded by each annuity aggregator as well as their rank in the US. Information was sourced from SimilarWeb, which provided both the rank and engagement traffic for each annuity aggregator. However, the ranks provided were based on an overall analysis of all websites, regardless of the industry. As such, this information was not sufficient to determine the top three annuity aggregators in the US. We then used the engagement rate and the traffic of users for each annuity aggregator to determine the top three in the US.
Part
03
of three
Part
03

Top Annuities Aggregators, Pt. 2

Even after extensive research, the information regarding the expansion plans and funding of the three annuities aggregators could not be found. All the other required information has been presented in 'Annuities" tab of the attached spreadsheet, and an overview of the findings has been provided below.

Annuities

  • The company works for free and does not charge anything. The company has helped thousands of people by providing free annuity quotes, recommendations, and valuable information to pre-retirees and retirees for over 20 years.
  • The company admits being a leader in providing free annuity quotes with 45 carriers, 750 daily quotes, and a 100% satisfaction rate. The company engages with its customers through the website.

Immediate Annuities

  • The company provides a free annuity comparison and quotes based on the consumers' needs.
  • Google and Trustpilot have rated Immediate Annuities as the "#1 consumer site for annuities." The company has been featured in popular news websites, such as The Wall Street Journal, CNN Money, and Washington Post.
  • The website contains a free form that can be filled to get a free annuity quote and price comparison. Additionally, the website provides other resources, such as tables, libraries, articles, and calculators.

Consumers Advocate

  • The company provides free information related to annuities for seniors. However, the company earns a commission when someone clicks an ad on the website or makes a purchase from the companies listed on the website.
  • The annuity-related information provided by Consumers Advocate is gathered by conduction more than 200 hours of research. The company has listed the best annuity providers by conducting in-depth research, based on policy features, fees and commissions, and financial strength.
  • The company mainly engages with its customers through its website.

Research Strategy

We started the research by identifying the top annuities aggregators from the attached spreadsheet. Thereafter, we searched across the websites of the individual companies to find the required information. We were able to find all the required information, excluding expansion plans and funding on the respective websites. In order to find the expansion plans, new partnerships, and strategic initiatives of the three companies, we went through each page of the respective company websites. We searched across the blogs, press releases, and news articles published by the companies. We were only able to find general information related to annuities on the resources. We also searched across the social media websites of the companies. Companies usually tend to post their new plans on social media. However, we found that Annuities does not have any social media pages. Similarly, the Twitter and Facebook pages of the other two companies did not have any helpful information. Due to the lack of available information, we assumed that the companies do not have any expansion plans.

Thereafter, we started searching for the funding received by the companies. Even after applying all the aforementioned strategies, no relevant information was found. Only general information related to the services provided by the companies was found. We then decided to look for the partners of the companies in order to find any funding-related information. We found that Annuities' partner network is made up of AAA-rated partners. Similarly, we were able to find corporate clients of Immediate Annuities. However, no funding-related information was found for the three companies. Therefore, we assumed that the companies don't post their funding information publicly. The respective fields have been filled with 'n/a' in the attached spreadsheet. In this way, we were able to complete this research.
Sources
Sources