2014 Online Auto Insurance Shopping Report
The 2014 Online Auto Insurance Shopping Report provides a detailed analysis of overall industry trends in 2013 and the attitudes and intentions of consumers shopping for auto insurance online. In addition, the study reports on the volume of online quote requests and highlights customer preferences on purchasing channels and key factors driving the decision-making process.
Key insights from 2014 Auto Insurance Shopping Report include:
Auto Insurance Shopping and Switching Consideration is Relatively Flat in 2014
The percentage of consumers who considered switching their insurance company decreased slightly Y/Y in 2014, as did the percentage of consumers who shopped for insurance in 2014
Agents Continue to be the Most Common Purchase Method
Among shoppers who purchase with an agent, price is increasingly the reason for doing so, rather than a lack of other purchase options
Consumers are Increasingly Likely to Purchase Online in the Future
37% of consumers in 2014 said they would be likely to purchase online in the future, up from 35% in 2013
Price, Regardless of Channel, Drives Purchasing Decisions
Although online purchasers are more price sensitive, price remains the most important factor when purchasing auto insurance regardless of purchase channel
Mobile Quoting and Purchasing is Emerging
While less than 10% of smartphone and tablet owners have quoted or purchased on their mobile device, total Internet time spent on mobile has increased significantly over the years while time spent on PCs holds steady, making both channels important
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