LexisNexis® U.S. Insurance Demand Meter Reaches "Nuclear" as U.S. Consumer Auto Insurance Shopping, New Policy Growth Rates Continue to Surge [Yahoo! Finance]
RELX PLC PLC American Depositary Shares (Each representing One Ordinary Share) (RELX)
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Source: Yahoo! Finance
Insurance Demand Meter recorded "Nuclear" levels of auto insurance shopping and new policy volumes, while the latter set a new record for growth since LexisNexis® Risk Solutions first began tracking U.S. insurance consumer shopping behavior more than a decade ago. Insurer-led marketing programs fueled activity among price-sensitive consumers who responded in droves to industry rate-taking. At the end of the quarter, nearly half (45%) of the U.S. policies-in-force were shopped at least once in the preceding 12 months, a result of the continued escalation of activity the market has witnessed over the past two quarters. Key Takeaways Auto Insurance Shopping Surge: U.S. consumer auto insurance shopping grew by 31.2% year-over-year in Q3 2024, up considerably from Q2's 16.1% growth. New Policy Volume Growth: New auto policy volumes increased by 25.9% year-over-year, an increase from Q2's 19.5% number. Preferred Segments are More Active : Rate increases drove shopping among the 66+
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