More Auto Insurance Buyers Want to Close Policies Online: JD Power
20.05.12
There are fewer
auto policyholders shopping around for new insurance carriers, but those that do are more apt to realize a change, and they expect to be able to do so online. That's according to J.D. Power & Associates' recent 2012 U.S. Insurance Shopping Study, which surveyed 16,100 shoppers who requested an
auto insurance assess quote from at least one competitive insurer within a year of data collection.
"Last year, we saw the shopping rate at 33%. This year that shrunk to 25%, but 43% of those changed insurers" compared to about 40% last year, says Signpost Garrett, a Troy, Mich.-based research director in J.D. Power & Associates' insurance practice.
With retention and compensation with insurers at high levels, many of the people who are simple "price checking" are taken out of the market,
Source: Insurance & Technology