The insurance industry has been in a marketing arms race for several years, with carriers attempting to outspend, outsmart and outwit each other to increase market share.
Marketing budgets and competition have ballooned, with annual ad spending growing to $8 billion per year across the industry. This dramatic run up has created a 'new normal' in insurance marketing.
Along the way, consumer behavior and online shopping trends have been evolving as well. In particular, comparison shopping is now an everyday reality for most consumers. There's now a seemingly endless supply of comparison websites giving consumers easy access to purchase options across just about every industry.
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