comScore Inc. (SCOR: Quote) released its 2012 Online Auto Insurance Shopping Report, which provides a detailed analysis of overall industry trends in 2011 and the attitudes and intentions of consumers shopping for auto insurance online.
According to the company, while online auto insurance channels continued to generate a high volume of insurance shopping activity in 2011, consumers are no more likely to consider switching from their old auto insurance providers than two years ago. However, more than a third of respondents now say they are likely to purchase policies online in the future, up 2 percentage points from the previous year.
The company said while online quote submission saw a dramatic increase in 2009, it has not seen a significant increase in recent years. However, online auto insurance policy sales continue to be on the upswing, growing 6 percent from the previous year to 3.1 million online policy sales in 2011.
Despite the slowdown in switching intent and shopping activity, the online channel remains the preferred channel for customers shopping for auto insurance policies. Nearly 70 percent of shoppers reported getting an online quote in 2011, the company said.
According to the report, In 2011, 34 percent of respondents reported being more likely to purchase their auto insurance policies online in the future. Only 22 percent declared they would be unlikely to do so, remaining consistent from 2010. Among those who said they were unlikely to purchase online in the future, 44 percent said that there are features that would increase their likelihood of purchasing online.
The 2012 Online Auto Insurance Shopping Report is a report based on comScore's research panel of 1 million U.S. consumers and attitudinal insights gained from a comScore survey of 4,000 U.S. online consumers conducted in February and March 2011.
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by RTT Staff Writer
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