U.S. Insurance Shopping Study
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Customers have been increasingly shopping for and switching auto insurers in recent years. Most insurers know why their customers select them. Some also know why they lose customers to their competitors. However, very few know why consumers consider them but ultimately select another insurer. Understanding the reasons consumers don’t select your brand, as well as why they choose another brand, are critical elements in your company’s ability to grow.
The J.D. Power 2014 U.S. Insurance Shopping StudySM provides an in-depth look at the entire auto insurance policy selection process to understand which customers are shopping; what triggers shopping behavior; their attitudes and perception of auto insurance brands; and how consumers make their purchase decisions. The study provides insights into how insurers may not only continue to improve customer satisfaction with the shopping process, but also how they may develop effective campaigns to maximize the return on marketing investments.
The 2014 study will publish in three waves, allowing subscribers to more accurately track their results throughout the year. Study subscription will provide access to the tools needed to gain a comprehensive, in-depth understanding of your company’s performance and to identify areas needing improvement. Study wave deliverables that will be provided three times during the course of the year include:
- An analyst briefing that provides insights into key industry trends and study findings, allowing your company to maximize performance
- Access to a personalized competitive data set, allowing you to see how your company stacks up against competitors, the industry, and the highest performers
- A detailed performance analysis that displays key performance metrics and frequencies
Full study deliverables that will be provided once at the completion of the fourth wave include:
- A full PDF report of insights obtained across all three waves of data
- An executive presentation that provides a summary of your company’s results, compared with those of key competitors
Insurers that subscribe to the study will be better able to understand their competitive position at a detailed level, allowing them to pinpoint critical opportunities for improvement and make prudent investments in the shopping attributes that matter most to customers.