Friday, May 11, 2012
May 11, 2012
According to J.D. Power, consumers are shopping for their auto insurance coverage more than ever. That's good news for us in radio.
25% of insurance customers indicated they shopped for a new insurer in the past 12 months -- down eight percentage points from 2011, according to the J.D. Power study, but, while only one-quarter of auto insurance customers shopped for a new policy, 43% of those shoppers switched their carrier -- the highest rate since the study first began measuring retention in 2008, and an increase of 3 percentage points from 2011.
Additionally, the industry spent $5.7 billion in 2011 promoting just that … churn!
Again, while less are shopping, more of those who are shopping, are switching.
Make sure you are getting your fair share in this important category!
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