U.S. Auto Insurance Shopping and Switching Research Report

What Auto Insurance Shopping Behaviors Reveal About Growth and Retention

Auto insurance shopping can create both customer acquisition opportunity and retention risk. Over the past few years, U.S. auto policy shopping and new business volumes have reached record levels as consumers responded to rate increases, carrier marketing programs and affordability pressures. 

Yet, many carriers continue to evaluate acquisition, renewal and retention separately, even as consumers see a single decision: how does my rate compare to what I can get in the market today?  

To better understand policyholder attitudes and behavior surrounding auto insurance policy shopping and switching, LexisNexis® Risk Solutions surveyed 3,000 U.S. auto insurance consumers.

The research explores:

• What prompts consumers to begin comparing auto insurance options
• How shopping intent and effort can influence the path from comparison to decision
• Which factors shape the choice to stay or switch
• Why traditionally loyal relationships may not provide the same protection they once did, and more.

Consumers enter the market with different intentions, levels of effort and expectations. Whether they ultimately stay or switch, shopping creates a competitive moment in which your pricing, value and shopping experience are tested against available alternatives.

Insurance shopping is more than a measure of consumer interest. It can provide an early indication of changing market conditions, pricing vulnerability and emerging retention risk, before those shifts appear in acquisition, renewal or retention results. 

Inside the Report

The report examines what changing shopping behavior may mean for your business, including:

• How shopping activity can signal competitive pressure and emerging retention risk
• Why pricing, value and the shopping experience matter throughout the policy lifecycle
• Where earlier visibility may create opportunities to engage
• How carriers can support more coordinated acquisition, renewal and retention decisions

Download the full report to understand these emerging shopping patterns and what they could mean for customer retention and sustainable growth.