Insurance carriers with a clear telematics policy that explains how driver data is collected and used, such as personalized policies and rates, could overcome data-sharing concerns, especially among younger policyholders. ( Credit: Denys Prykhodov/Shutterstock.com)
Rising premiums combined with low customer satisfaction are causing nearly half (49%) of U.S. policyholders to reconsider their auto insurance carrier, according to the J.D. Power 2024 U.S. Insurance Shopping Study. The study revealed 29% of those shopping around switched to a new carrier in the past year, with Gen Z making the most changes. Some policyholders are concerned that telematics programs are the reason behind their higher rates.
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