LexisNexis® U.S. Insurance Demand Meter Reports Continued Hot Streak with "Nuclear" U.S. Consumer Shopping and "Sizzling" New Policy Growth
LexisNexis Risk Solutions reports continued strong growth in U.S. auto insurance shopping, with an 18% increase in consumer shopping in 2024 compared to 2023. The Q4 2024 showed a 26% increase in shopping activity, while new policy growth reached 17.7%. 45% of policies-in-force were shopped at least once in the last 12 months as of December 31, 2024.
The market saw a notable trend shift in late 2024, with shopping growth outpacing new business as carriers implemented rate increases across multiple states. New York and Hawaii emerged as outliers, showing below-average performance. The holiday season witnessed a larger-than-usual drop in new policies, attributed to increased rate parity across carriers limiting consumers' ability to find lower rates.
Looking ahead to 2025, insurers face challenges from recent natural disasters, including Southern California wildfires and winter storms, which may lead to further rate increases. Marketing and pricing strategies are becoming important differentiators for insurers balancing customer acquisition and retention.
LexisNexis Risk Solutions riporta una continua forte crescita nel settore delle assicurazioni auto negli Stati Uniti, con un aumento del 18% nella ricerca di polizze da parte dei consumatori nel 2024 rispetto al 2023. Il quarto trimestre del 2024 ha mostrato un incremento del 26% nell'attività di ricerca, mentre la crescita delle nuove polizze ha raggiunto il 17,7%. Il 45% delle polizze attive è stato ricercato almeno una volta negli ultimi 12 mesi fino al 31 dicembre 2024.
Il mercato ha visto un cambiamento notevole nelle tendenze alla fine del 2024, con la crescita della ricerca che ha superato quella delle nuove attività, poiché le compagnie hanno implementato aumenti di tariffa in diversi stati. New York e Hawaii si sono distinte come casi particolari, mostrando performance inferiori alla media. La stagione delle festività ha registrato un calo più significativo del solito nelle nuove polizze, attribuito a una maggiore parità tariffaria tra i fornitori che ha limitato la capacità dei consumatori di trovare tariffe più basse.
Guardando al 2025, le compagnie assicurative affrontano sfide dovute a recenti disastri naturali, tra cui gli incendi in California meridionale e le tempeste invernali, che potrebbero portare a ulteriori aumenti delle tariffe. Le strategie di marketing e di pricing stanno diventando differenziali importanti per le compagnie assicurative che devono bilanciare acquisizione e fidelizzazione dei clienti.
LexisNexis Risk Solutions informa sobre un continuo crecimiento fuerte en la búsqueda de seguros de auto en EE.UU., con un aumento del 18% en la búsqueda por parte de los consumidores en 2024 en comparación con 2023. El cuarto trimestre de 2024 mostró un incremento del 26% en la actividad de búsqueda, mientras que el crecimiento de nuevas pólizas alcanzó el 17,7%. El 45% de las pólizas activas fueron buscadas al menos una vez en los últimos 12 meses hasta el 31 de diciembre de 2024.
El mercado experimentó un cambio notable en las tendencias a finales de 2024, con el crecimiento de la búsqueda superando el de nuevos negocios, ya que las compañías implementaron aumentos de tarifas en varios estados. Nueva York y Hawái se destacaron como excepciones, mostrando un rendimiento inferior al promedio. La temporada navideña presenció una caída mayor a la habitual en nuevas pólizas, atribuida a una mayor paridad de tarifas entre las compañías que limitó la capacidad de los consumidores para encontrar tarifas más bajas.
Mirando hacia 2025, las aseguradoras enfrentan desafíos debido a desastres naturales recientes, incluidos los incendios en el sur de California y las tormentas invernales, lo que podría llevar a un aumento adicional de tarifas. Las estrategias de marketing y precios se están convirtiendo en diferenciadores importantes para las aseguradoras que equilibran la adquisición y retención de clientes.
LexisNexis Risk Solutions는 미국 자동차 보험 쇼핑에서 지속적인 강력한 성장을 보고하며, 2024년 소비자 쇼핑이 2023년 대비 18% 증가했다고 전했습니다. 2024년 4분기 쇼핑 활동은 26% 증가한 반면, 신규 정책 성장률은 17.7%에 달했습니다. 45%의 유효 보험은 2024년 12월 31일 기준으로 지난 12개월 동안 최소한 한 번은 쇼핑되었습니다.
시장에서는 2024년 말에 눈에 띄는 추세 변화가 있었으며, 쇼핑 성장이 신규 비즈니스를 초과하면서 여러 주에서 보험사들이 요금 인상을 시행했습니다. 뉴욕과 하와이는 평균 이하의 성과를 보이며 예외로 나타났습니다. 연말 시즌에는 신규 정책의 감소가 평소보다 더 크게 나타났으며, 이는 보험사 간의 요금 평준화가 소비자들이 더 낮은 요금을 찾는 능력을 제한했기 때문입니다.
2025년을 바라보며 보험사들은 최근의 자연 재해, 즉 남부 캘리포니아의 산불과 겨울 폭풍 등으로 인한 도전에 직면하고 있으며, 이는 추가적인 요금 인상으로 이어질 수 있습니다. 마케팅 및 가격 전략은 고객 유치와 유지의 균형을 맞추는 보험사들에게 중요한 차별 요소가 되고 있습니다.
LexisNexis Risk Solutions signale une forte croissance continue des recherches d'assurances auto aux États-Unis, avec une augmentation de 18% des recherches des consommateurs en 2024 par rapport à 2023. Le quatrième trimestre 2024 a montré une augmentation de 26% de l'activité de recherche, tandis que la croissance des nouvelles polices a atteint 17,7%. 45% des polices en vigueur ont été recherchées au moins une fois au cours des 12 derniers mois au 31 décembre 2024.
Le marché a connu un changement de tendance notable à la fin de 2024, avec une croissance des recherches dépassant celle des nouvelles affaires, alors que les compagnies ont mis en œuvre des augmentations de tarifs dans plusieurs États. New York et Hawaï se sont révélés être des exceptions, affichant des performances inférieures à la moyenne. La saison des fêtes a connu une baisse plus importante que d'habitude des nouvelles polices, attribuée à une plus grande parité tarifaire entre les assureurs limitant la capacité des consommateurs à trouver des tarifs plus bas.
En regardant vers 2025, les assureurs font face à des défis dus à des catastrophes naturelles récentes, y compris les incendies de forêt en Californie du Sud et les tempêtes hivernales, ce qui pourrait entraîner d'autres augmentations de tarifs. Les stratégies de marketing et de tarification deviennent des éléments de différenciation importants pour les assureurs cherchant à équilibrer acquisition et fidélisation des clients.
LexisNexis Risk Solutions berichtet von einem weiterhin starken Wachstum im Bereich der Kfz-Versicherungsanfragen in den USA, mit einem Anstieg von 18% bei den Verbraucheranfragen im Jahr 2024 im Vergleich zu 2023. Im vierten Quartal 2024 wurde ein Anstieg der Anfragen um 26% verzeichnet, während das Wachstum neuer Policen 17,7% erreichte. 45% der aktiven Policen wurden in den letzten 12 Monaten bis zum 31. Dezember 2024 mindestens einmal angefragt.
Der Markt erlebte Ende 2024 einen bemerkenswerten Trendwechsel, wobei das Wachstum der Anfragen die Neugeschäfte übertraf, da die Anbieter in mehreren Bundesstaaten Preiserhöhungen umsetzten. New York und Hawaii hoben sich als Ausreißer hervor und wiesen eine unterdurchschnittliche Leistung auf. Die Feiertagssaison verzeichnete einen größeren als üblichen Rückgang neuer Policen, was auf eine erhöhte Preisparität zwischen den Anbietern zurückzuführen ist, die die Fähigkeit der Verbraucher einschränkte, niedrigere Tarife zu finden.
Für 2025 sehen sich die Versicherer Herausforderungen durch kürzliche Naturkatastrophen gegenüber, einschließlich der Waldbrände in Südkalifornien und Winterstürme, die zu weiteren Preiserhöhungen führen könnten. Marketing- und Preisstrategien werden zu wichtigen Unterscheidungsmerkmalen für Versicherer, die eine Balance zwischen Kundengewinnung und -bindung finden müssen.
- 18% increase in consumer insurance shopping in 2024 vs 2023
- 26% growth in shopping activity in Q4 2024
- 17.7% increase in new policy growth in Q4 2024
- 45% of policies-in-force shopped at least once in 12 months
- Significant drop in new policies during November-December 2024
- Rate increases across multiple states making it harder for consumers to find savings
- New York showing negative growth, below Q4 2020 levels
- Natural disasters expected to drive further rate increases
Insights
The latest Insurance Demand Meter data from LexisNexis Risk Solutions demonstrates the robust market position of RELX's insurance analytics division, with several key implications for investors. The 18% year-over-year increase in consumer shopping activity, combined with the 26% growth in Q4 2024, signals a significant expansion in the addressable market for LexisNexis's data services.
This surge in insurance shopping activity directly benefits RELX's bottom line through multiple revenue streams: increased usage of their risk assessment tools by insurers, greater demand for their consumer data analytics, and enhanced value of their market intelligence products. The fact that 45% of policies-in-force were shopped within a 12-month period indicates a structural shift in consumer behavior that strengthens LexisNexis's market position.
The reported divergence between shopping growth and new business conversion rates in the latter half of 2024 actually presents a revenue opportunity for RELX. As insurers face challenges in converting shoppers to customers, they're likely to increase their investment in sophisticated data analytics and marketing tools - core offerings of LexisNexis Risk Solutions. The emphasis on marketing strategies and pricing optimization mentioned in the report aligns perfectly with LexisNexis's product portfolio, suggesting potential for expanded service adoption among insurance carriers.
The regional variations, particularly in New York and Hawaii, highlight the value of LexisNexis's granular market intelligence, which becomes increasingly critical for insurers navigating complex market conditions. The company's ability to capture and analyze nearly 90% of U.S. insurance shopping activity represents a formidable competitive moat, particularly as insurance carriers seek more sophisticated data-driven solutions for customer acquisition and retention.
Key Takeaways
- Consumers Continue to Shop: As of December 31, 2024,
45% of policies-in-force were shopped at least once in the last 12 months. - Shopping and New Policy Growth Increased Year-over-Year: Shopping grew
26% in Q4 2024, while new policy growth was17.7% in Q4 2024. - Insurance Not Included in Holiday Shopping Lists: Similar to prior years, the number of new policies issued dropped in November and December in 2024 as consumers shifted their focus to the holiday season. However, Q4's drop was greater than in previous years, likely as a result of increased rate parity across carriers in the market, which likely hampered consumers' ability to find lower rates.
Key Observations
"In the first half of 2024, when consumers shopped their policies, they were looking for opportunities for discounts and were willing to switch. At that time, insurers saw the growth of carrier switching outpacing the growth in shopping because it was easier for shoppers to find more favorable premiums," said Chris Rice, vice president of strategic business intelligence, insurance, LexisNexis Risk Solutions. "However, that trend reversed in the latter half of 2024, with shopping growth outpacing new business, as carriers in a number of states had implemented rate increases, making it harder for consumers to find savings attractive enough to follow through and switch."
Insurers saw pre-hard market volumes in Q4 for shopping and new business in every state except
Looking Ahead
If shopping for new policies (and switching policies) loses steam in 2025, it may signal an opportunity to create targeted marketing messaging for consumers confronted with the limited availability of attractive deals. Marketing efforts are becoming the main driver of shopping activity, and carriers are taking note. As competition for shoppers tightens, carriers may need to balance targeting the consumers they are priced competitively to reach, while focusing on retaining current customers to reach desired growth goals.
"Marketing and pricing strategies will be the key differentiators as insurers work to attract new customers while retaining existing policyholders," said Jeff Batiste, senior vice president and general manager,
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SOURCE LexisNexis Risk Solutions
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