Auto Insurance Shopping Increased 19% Year over Year in Q3 2024
TransUnion's Q3 2024 report reveals a significant increase in insurance shopping, with auto insurance shopping up 19% and property insurance shopping rising 16% year-over-year. Baby Boomers led auto insurance shopping with a 34% increase, followed by Gen Z (23%), Gen X (18%), and Millennials (8%). The report highlights that 38% of insurance shoppers switched carriers in the past six months. Digital marketing spending saw substantial growth, with online display advertising increasing 346% and social media spending up 81%. The report also notes a generational shift in living arrangements, with 78% of adult Gen Z consumers now living with older generations, compared to 66% of Millennials in 2009.
Il report di TransUnion per il terzo trimestre 2024 rivela un aumento significativo nella ricerca di assicurazioni, con una crescita del 19% nella ricerca di assicurazioni auto e un incremento del 16% nella ricerca di assicurazioni sulla proprietà rispetto all'anno precedente. I Baby Boomers guidano la ricerca di assicurazioni auto con un aumento del 34%, seguiti dalla Gen Z (23%), dalla Gen X (18%) e dai Millennials (8%). Il report sottolinea che il 38% degli acquirenti di assicurazioni ha cambiato compagnia negli ultimi sei mesi. La spesa per il marketing digitale ha visto una crescita sostanziale, con la pubblicità online in aumento del 346% e la spesa sui social media aumentata dell'81%. Il report nota anche uno spostamento generazionale nelle sistemazioni abitative, con il 78% dei consumatori adulti della Gen Z che vive ora con generazioni più anziane, rispetto al 66% dei Millennials nel 2009.
El informe de TransUnion del tercer trimestre de 2024 revela un aumento significativo en la búsqueda de seguros, con un incremento del 19% en la búsqueda de seguros de automóviles y un aumento del 16% en la búsqueda de seguros de propiedad en comparación con el año anterior. Los Baby Boomers lideraron la búsqueda de seguros de automóviles con un incremento del 34%, seguidos por la Generación Z (23%), la Generación X (18%) y los Millennials (8%). El informe resalta que el 38% de los compradores de seguros cambiaron de compañía en los últimos seis meses. El gasto en marketing digital mostró un crecimiento considerable, con la publicidad en línea aumentando un 346% y el gasto en redes sociales subiendo un 81%. El informe también observa un cambio generacional en los arreglos de vivienda, con el 78% de los consumidores adultos de la Generación Z ahora viviendo con generaciones mayores, en comparación con el 66% de los Millennials en 2009.
TransUnion의 2024년 3분기 보고서는 보험 쇼핑의 상당한 증가를 보여주며, 자동차 보험 쇼핑이 19% 증가했고 재산 보험 쇼핑이 16% 상승했다고 보고했습니다. 베이비붐 세대가 34%로 자동차 보험 쇼핑을 주도했으며, 이어서 Z세대(23%), X세대(18%), 밀레니얼 세대(8%)가 뒤를 이었습니다. 보고서는 보험 쇼핑객의 38%가 지난 6개월 동안 보험사를 변경했다고 강조합니다. 디지털 마케팅 지출은 크게 증가했으며, 온라인 디스플레이 광고가 346% 증가하고 소셜 미디어 지출이 81% 상승했습니다. 보고서는 또한 2009년 밀레니얼 세대의 66%에 비해 현재 성인 Z세대 소비자의 78%가 더 나이 많은 세대와 함께 살고 있다는 세대 간 거주 형태의 변화를 주목합니다.
Le rapport de TransUnion pour le troisième trimestre 2024 révèle une augmentation significative des recherches d'assurances, avec une hausse de 19% des recherches d'assurances auto et une augmentation de 16% des recherches d'assurances habitation par rapport à l'année précédente. Les baby-boomers ont conduit les recherches d'assurances auto avec une augmentation de 34%, suivis par la génération Z (23%), la génération X (18%) et les millennials (8%). Le rapport souligne que 38% des acheteurs d'assurances ont changé de compagnie au cours des six derniers mois. Les dépenses en marketing numérique ont connu une forte croissance, avec une augmentation de 346% de la publicité en ligne et une hausse de 81% des dépenses sur les réseaux sociaux. Le rapport note également un changement générationnel dans les arrangements de vie, avec 78% des consommateurs adultes de la génération Z vivant maintenant avec des générations plus âgées, contre 66% des millennials en 2009.
Der Bericht von TransUnion für das dritte Quartal 2024 zeigt einen signifikanten Anstieg beim Versicherungseinkauf, mit einem Anstieg von 19% bei der Kfz-Versicherungssuche und einem Anstieg von 16% bei der Suche nach Sachversicherungen im Vergleich zum Vorjahr. Die Babyboomer führten die Kfz-Versicherungssuche mit einem Anstieg von 34% an, gefolgt von der Generation Z (23%), der Generation X (18%) und den Millennials (8%). Der Bericht hebt hervor, dass 38% der Versicherungskäufer in den letzten sechs Monaten den Anbieter gewechselt haben. Die Ausgaben für digitales Marketing verzeichneten ein erhebliches Wachstum, wobei die Online-Werbebanner um 346% und die Ausgaben für soziale Medien um 81% gestiegen sind. Der Bericht vermerkt außerdem einen generationalen Wandel in den Wohnverhältnissen, wobei 78% der erwachsenen Konsumenten der Generation Z nun mit älteren Generationen zusammenleben, im Vergleich zu 66% der Millennials im Jahr 2009.
- 38% conversion rate for insurance shoppers switching carriers
- Strong digital marketing growth with 346% increase in online display advertising
- 19% increase in auto insurance shopping
- 16% increase in property insurance shopping
- TV advertising spending dropped 15% for property and casualty insurers
Insights
The
The evolving household composition trend, with
TransUnion's strategic position in this evolving landscape is strengthened by providing important identity verification and consumer insight services to insurers adapting to these market changes. The company's data analytics capabilities become increasingly valuable as insurers optimize digital targeting and risk assessment.
TransUnion report finds Gen Z adults more likely to live with older generations as homeownership becomes more illusive
CHICAGO, Nov. 13, 2024 (GLOBE NEWSWIRE) -- The third quarter of 2024 saw a big spike in shopping for both auto and property insurance, according to a report by TransUnion (NYSE: TRU). Auto insurance was up
Auto insurance shopping increased across generations, though, not equally. Baby Boomers shopped the most by far, at
These and other important findings are included in the 2025 Personal and Commercial Lines Annual Insurance Outlook, which provides insights and guidance to address anticipated trends in the new year.
“It’s important to note that consumers are also switching at significant rates,” said Patrick Foy, senior director of strategic planning for TransUnion’s Insurance business. “This should serve as a reminder to insurers that marketing and digital experiences matter for acquisition.”
The report found
Insurers lean heavily on online marketing
Over the past two years, policy premiums have caught up with and recently exceed loss costs in the auto market. Predictably, insurers are also beginning to reinvest in marketing; however, not across all channels.
Comperemedia’s Q2 Omnichannel Marketing Review found national TV spending by property and casualty insurers dropped
“The focus on marketing through digital channels is encouraging, but it has to be optimized with a robust identity-based approach,” said Foy. “It is critical that insurers partner with a trusted solution provider who can ensure that their ads consistently target the right audiences and measure impact across channels.”
A generational shift for independent living
With prices in the housing market outpacing inflation, consumers across generations find themselves cohabitating in greater numbers, compared to just 15 years ago. When looking back to 2009,
By comparison, today only
Insurers who understand the generational makeup of a household can better calculate the associated behavioral risks that come with its occupants. Here, again, occupant and identity-based solutions can help carriers match individuals and devices to locations, providing crucial insights that guide consumer acquisition and risk-based pricing.
For more information about TransUnion’s TruAudience® suite of solutions, click here.
Read the full 2025 Personal and Commercial Lines Annual Insurance Outlook report.
About TransUnion’s Insurance Personal Lines Trends and Perspectives Report
This quarterly publication examines trends in the personal lines insurance industry, including shopping, migration, violation, credit-based insurance stability and more. The Trends and Perspectives Report research is based almost entirely on TransUnion’s extensive internal data and analyses. It includes information on insurance shopping transactions from January 2023 to June 2024. However, the report excludes shopping data from insurance customers in California, Hawaii (auto), Massachusetts (auto), and Maryland (property), where credit-based insurance scoring information is not used for insurance rating or underwriting.
About TransUnion (NYSE: TRU)
TransUnion is a global information and insights company with over 13,000 associates operating in more than 30 countries. We make trust possible by ensuring each person is reliably represented in the marketplace. We do this with a Tru™ picture of each person: an actionable view of consumers, stewarded with care. Through our acquisitions and technology investments we have developed innovative solutions that extend beyond our strong foundation in core credit into areas such as marketing, fraud, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good® — and it leads to economic opportunity, great experiences and personal empowerment for millions of people around the world. http://www.transunion.com/business
| Contact | Dave Blumberg |
| TransUnion | |
| david.blumberg@transunion.com | |
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FAQ
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