Auto insurance consumers are shopping more than ever before, and that’s not surprising. A competitive environment combined with easy access to online quotes and an informed shopping audience has led to a shopping bonanza, even among loyal policyholders.
Carriers find themselves caught in a conundrum of taking advantage of the opportunity to acquire new customers while also retaining valuable existing policyholders. How can you do both? It takes knowledge and outreach.
The results from our spring 2020 auto insurance consumer shopping study provide key insights that can help you reach out to customers at the right time with the right message to keep their business.
These insights include:
- Your policyholders want to hear from you, but on their terms.
- When they don’t hear from you, they could be tempted to shop another carrier.
- Price is king, but it’s not everything.
- Active shopping creates competitive opportunities.
By understanding policyholder outreach preferences as well as which important events are taking place in your policyholders’ lives―including when they’re shopping auto insurance, you can be armed with the knowledge to reach out at the right time.