Key findings

Following are some key findings of the 2018 study:

Brand reputation is a top driver: Brand reputation is the top driver of consideration, contributing 29% of what influences an insurance shopper to research an insurer's offerings. Accordingly, the top 10 insurers in terms of total market share now write 72% of all business in the country, up from 64% in 2000. While a strong brand, among other factors, can help drive traffic, a strong value proposition remains essential in driving quote and close rates.

Delivering a consistent omnichannel experience is critical: Among auto insurance shoppers, 45% use multiple channels when purchasing a policy, illustrating the need for insurers to develop digital capabilities that support the rest of their business functions, not replace them.

InsurTech customer awareness still low: While InsurTech companies have raised more than $7.1 billion globally since 2012, the level of awareness of alternative insurance models is still relatively low among insurance shoppers. Just 6% of prospective customers indicate being aware of at least one of the following companies: Lemonade, Metromile, Trov and Sure. Less than half of shoppers who are aware of a given provider would consider doing business with them in the future.

Directs are winning purchase experience battle: Overall satisfaction among shoppers who purchased insurance from companies that primarily sell directly to the customer is 846 (on a 1,000-point scale). This compares with a score of 842 among shoppers who purchased insurance from companies that primarily sell through independent agents and 834 among those who bought from insurers who primarily sell through exclusive agents.

Purchase behavior & experience

Now in its 12^th year, the U.S. Insurance Shopping Study measures auto insurance shopping, purchase behavior and purchase experience satisfaction among customers who recently purchased insurance.

Special Reports /

Battle for auto insurance consumers: Who's winning?

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