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Switching Remains Hot Topic in Online Auto Insurance Chatter

Switching Remains Hot Topic in Online Auto Insurance Chatter

By Jeff Youngs, June 27, 2012
J.D. Power's Consumer Insight and Strategy Group* has discovered that a significant percentage of social media comments on the topic of personal auto insurance rate hikes suggest a strong desire among consumers to switch insurers, or to begin the shopping process. In addition, discussions ask whether others have experienced similar results with a specific insurer or whether they would recommend another insurer, according to social conversations tracked during the past year.

Yet, our study research indicates that most customers who shop for insurance ultimately do not switch. However, among those who are driven to shop because they are dissatisfied with the service they receive, three of four will keep shopping until they find a new insurer. With many insurers filing new property and auto rates across the country, this often is a catalyst for a change in shopping behavior. Being proactive about notifying customers and discussing options may help mitigate disappointment and shopping for insurance.

*Findings of J.D. Power's Consumer Insight and Strategy Group, which tracks social media activity, includes information gathered online from June 2011 through June 2012.

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