U.S. Insurance Shopping Study

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The Challenge

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 Solution

The J.D. Power 2016 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 their shopping; their attitudes toward and perceptions of auto insurance brands; and how they make their final purchase decision. The study explores the most critical drivers of winning new in various segments of the market:

The study provides insights into how insurers can continue to improve customer satisfaction with the shopping and purchase process. The study provides a broad understanding of how carriers can improve the purchase experience across three key touch points:

  • Distribution Channel
    - Agent or Broker
    - Call Center Service Representative
    - Website
  • Policy Offering
  • Price

A study subscription provides access to the insights and tools needed to gain a comprehensive, in-depth understanding of how your company is performing and to identify key areas needing improvement. This study publishes in four waves, allowing subscribers to more accurately track their results throughout the year.

Study deliverables include:

  • Customized executive presentation and in-person discussion that includes datadriven, actionable recommendations for achieving such strategic goals as closing performance gaps with key competitors and/or highest performers in the study
  • Competitive survey data and industry reports created by J.D. Power
  • Analytical tools for performance insights and peer comparisons
  • Ongoing thought leadership, including white papers and access to webinars on vital industry topics

What’s New in 2016?

The 2016 study explores new topics, including:

  • Linking the shopping journey to the purchase experience: Which elements of the shopping process impact the Purchase Experience Customer Satisfaction Index?
  • Digital Channels for Insurance Shopping: How often are customers employing digital channels for insurance shopping? To what extent has this changed? Where do traditional agency and call center channels fit in to the experience when customers use digital channels?
  • Role of Price: How frequently are shoppers selecting the lowestpriced insurer? What is the break point at which shoppers will switch to the lowest-price insurer? How do the presentation and awareness of discounts play a role?

Publish Date:
April 27, 2016

Press Release Date:
April 29, 2016