Filed Under:Carrier Innovations, Analytics & Data

Are Auto Insurers Spending Too Much to Court Customers?

Auto insurers’ spending on marketing has increased substantially over the past 10 years, but a report by the consulting firm McKinsey questions whether the industry is spending too much to attract too few customers.

In a report released yesterday titled, “Beyond Price: The Rise of Customer-Centric Marketing in Insurance,” the consulting group says that over the past 10 years, the marketing spend by U.S. personal-lines insurers rose from $1.7 billion to $5.9 billion in 2011.

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