Auto Insurance Marketing Moves Online

/Auto Insurance Marketing Moves Online

Auto Insurance Marketing Moves Online

In 2007, the number of auto insurance policies purchased online exceeded
2 million consumers submitted requests for 32 million online quotes. For independent professional marketers (i.e., investments, accounting etc.) this research should signal a warning that if you do not offer improved personal service, your offering becomes commoditized and can be relegated to an online purchase.

The
number of quotes requested online increased by 15 percent, and the number of
auto insurance policies purchased online increased by 37 percent from 2006 to
2007. It’s clear that the Internet has become an important factor in the auto
insurance industry during the past few years, with consumers requesting more than
100 million auto insurance rate quotes between 2004 and 2007 – WOW!

If you want to increase sales, increase your value to your customers by being accessible online 24/7 and be more personable in your marketing approaches.

Growth in Online Auto
Insurance Activities

Total U.S. –
Home/Work/University Locations

Source: comScore, Inc.

Auto Insurance Activity

Transactions
(000)

2006

2007

Percent
Change

Policies Purchased

1,566

2,145

37%

Requests for Quotes Submitted 

28,061

32,353

15%

Growth in E-Servicing Visits* 

Total U.S. –
Home/Work/University Locations

Source: comScore, Inc.

Section of Web Sites

Total Visits
(000)

2006

2007

Percent
Change

Payment Section

47,256

51,734

9%

Policy Management**

57,245

68,836

20%

Total e-Servicing

104,501

120,571

15%

*Sites included in
analysis: Allstate.com, Esurance.com, GEICO.com, Nationwide.com, Progressive.com,
ProgressiveAgent.com, StateFarm.com

** Policy management includes viewing and changing
coverage, adding or removing a driver, adding or removing a car, and changing
an address

Source: To receive a copy of
the
2008 comScore
Online Automobile Insurance Report
, please visit http://www.comscore.com/request/auto_insurance_report_2008.asp. For more information about comScore capabilities, please visit http://www.comscore.com/request/auto_insurance_solutions.asp.

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