Shopping and Switching Trends – Auto Insurance
Stakeholder(s): CMO, Head Personal Lines, Advertising, Marketing, State Level Managers
Goal: Track what percentage of current customers are actively shopping for auto insurance
LIST capabilities:
- 5 years of shopping behavior history for auto insurance and 3 years for home/renters insurance
- Competitive analysis
- Ability to cut by demographic, segment, geography
- Ability to overlay pricing data
Example insights:
- Carrier has maintained a higher quote rate among their incumbents than the industry since 2020 with shopping peaking in Q4 2024 with 16.5% of incumbents shopping for a new policy
- Carrier’s highest switch rate occurred in the same quarter (Q4 2024) with 6.9% of customers defecting to a new carrier
Already a LIST subscriber? Here is how to Replicate this Use Case.
For the industry lines:
- Columns: “Interval” in set to “Quarter”
- Rows: (Found in the Auto Insurance Questions Tab) “Quote in the last 30 days” and “Did you switch to a new auto insurance company in the past 30 days” (percent “Yes” shown)
For the Carrier lines:
- Filters: (Found in the Demographics tab) “Auto Incumbent Insurer” = Carrier
- Columns and Rows same as above.