Q4 2024 Auto and Property Insurance Shopping Increased 20% Compared to Q4 2023
TransUnion (NYSE: TRU) reports a 20% year-over-year increase in both auto and property insurance shopping during Q4 2024. While auto insurance approaches rate adequacy, property insurance faces profitability challenges due to rate increases and natural disaster losses, including hurricanes Helene and Milton.
The report highlights that insurance shopping is primarily driven by consumers seeking lower rates. TransUnion emphasizes the value of traffic court data in assessing driver risk, noting that 11% of drivers have violations visible in traffic court records but not in state motor vehicle records (MVRs). The company promotes its TruVision™ Driving History solutions and TruAudience® marketing solutions to help insurers improve lead quality and customer targeting.
TransUnion (NYSE: TRU) riporta un aumento del 20% anno su anno sia nello shopping per assicurazioni auto che per assicurazioni immobiliari durante il quarto trimestre del 2024. Mentre l'assicurazione auto si avvicina a una adeguatezza delle tariffe, l'assicurazione immobiliare affronta sfide di redditività a causa degli aumenti delle tariffe e delle perdite dovute a disastri naturali, tra cui gli uragani Helene e Milton.
Il rapporto evidenzia che lo shopping per assicurazioni è principalmente guidato dai consumatori in cerca di tariffe più basse. TransUnion sottolinea il valore dei dati dei tribunali del traffico nella valutazione del rischio dei conducenti, notando che l'11% dei conducenti ha violazioni visibili nei registri del tribunale del traffico ma non nei registri statali dei veicoli a motore (MVR). L'azienda promuove le sue soluzioni TruVision™ Driving History e TruAudience® per aiutare le compagnie assicurative a migliorare la qualità dei lead e il targeting dei clienti.
TransUnion (NYSE: TRU) informa sobre un aumento del 20% interanual tanto en la búsqueda de seguros de auto como de propiedades durante el cuarto trimestre de 2024. Mientras que el seguro de auto se acerca a la adecuación de tarifas, el seguro de propiedad enfrenta desafíos de rentabilidad debido a los aumentos de tarifas y las pérdidas por desastres naturales, incluidos los huracanes Helene y Milton.
El informe destaca que la búsqueda de seguros está impulsada principalmente por los consumidores que buscan tarifas más bajas. TransUnion enfatiza el valor de los datos de los tribunales de tránsito para evaluar el riesgo de los conductores, señalando que el 11% de los conductores tiene violaciones visibles en los registros de los tribunales de tránsito, pero no en los registros estatales de vehículos a motor (MVR). La compañía promueve sus soluciones TruVision™ Driving History y TruAudience® para ayudar a las aseguradoras a mejorar la calidad de los leads y la segmentación de clientes.
TransUnion (NYSE: TRU)는 2024년 4분기 동안 자동차 및 재산 보험 쇼핑에서 전년 대비 20% 증가를 보고했습니다. 자동차 보험은 요율 적정성에 접근하고 있지만, 재산 보험은 요율 인상 및 허리케인 헬렌과 밀턴을 포함한 자연재해 손실로 인해 수익성 문제에 직면해 있습니다.
보고서는 보험 쇼핑이 주로 더 낮은 요율을 찾는 소비자에 의해 주도된다고 강조합니다. TransUnion은 운전자의 위험을 평가하는 데 있어 교통 법원 데이터의 가치를 강조하며, 11%의 운전자가 주 교통 법원 기록에는 위반 사항이 보이지만 주 차량 기록(MVR)에는 보이지 않는다고 언급합니다. 이 회사는 보험사가 리드 품질과 고객 타겟팅을 개선하는 데 도움을 주기 위해 TruVision™ Driving History 솔루션과 TruAudience® 마케팅 솔루션을 홍보합니다.
TransUnion (NYSE: TRU) rapporte une augmentation de 20 % par rapport à l'année précédente dans les recherches d'assurances auto et immobilières au cours du quatrième trimestre 2024. Alors que l'assurance automobile atteint une adéquation tarifaire, l'assurance immobilière fait face à des défis de rentabilité en raison des augmentations de tarifs et des pertes dues à des catastrophes naturelles, y compris les ouragans Helene et Milton.
Le rapport souligne que la recherche d'assurance est principalement motivée par les consommateurs à la recherche de tarifs plus bas. TransUnion souligne la valeur des données des tribunaux de la circulation pour évaluer le risque des conducteurs, notant que 11 % des conducteurs ont des violations visibles dans les dossiers des tribunaux de la circulation, mais pas dans les dossiers des véhicules à moteur de l'État (MVR). L'entreprise promeut ses solutions TruVision™ Driving History et TruAudience® pour aider les assureurs à améliorer la qualité des prospects et le ciblage des clients.
TransUnion (NYSE: TRU) berichtet über einen 20%igen Anstieg im Jahresvergleich sowohl bei der Suche nach Auto- als auch nach Immobilienversicherungen im vierten Quartal 2024. Während die Autoversicherung sich der Tarifanpassung nähert, sieht sich die Immobilienversicherung aufgrund von Tariferhöhungen und Verlusten durch Naturkatastrophen, darunter die Hurrikane Helene und Milton, Herausforderungen bei der Rentabilität gegenüber.
Der Bericht hebt hervor, dass die Versicherungssuche hauptsächlich von Verbrauchern getrieben wird, die niedrigere Tarife suchen. TransUnion betont den Wert von Daten aus Verkehrsstrafverfahren zur Einschätzung des Fahrerrisikos und stellt fest, dass 11% der Fahrer Verstöße in den Verkehrsgerichtsunterlagen sichtbar haben, jedoch nicht in den staatlichen Kraftfahrzeugunterlagen (MVRs). Das Unternehmen fördert seine Lösungen TruVision™ Driving History und TruAudience® Marketinglösungen, um Versicherern zu helfen, die Qualität der Leads und die Kundenansprache zu verbessern.
- 20% YoY increase in both auto and property insurance shopping in Q4 2024
- Auto insurance segment approaching rate adequacy
- Traffic court data provides more comprehensive violation history at lower cost than MVRs
- Property insurance market facing profitability challenges
- Significant losses from natural disasters (hurricanes Helene and Milton)
- Ongoing wildfire risks in southern California threatening further insurance losses
Insights
The 20% year-over-year increase in insurance shopping activity represents a significant market opportunity for TransUnion's data services. This surge in shopping behavior, coupled with insurers' pressing need for better risk assessment tools, positions TRU's data solutions favorably for revenue growth.
The divergence between auto and property insurance profitability is particularly noteworthy. While auto insurers approach rate adequacy, property insurers face mounting challenges from natural disasters and regulatory constraints on rate increases. This market dynamic creates an urgent need for sophisticated data solutions to improve risk assessment and customer segmentation.
The revelation that 11% of drivers have violations visible in traffic court records but not in MVRs represents a compelling value proposition for TransUnion's TruVision™ suite. The cost differential between traffic court data and traditional MVRs provides insurers with both economic and operational advantages. This efficiency gain could translate into increased adoption of TransUnion's services, potentially driving higher revenue per customer.
The company's strategic positioning across the entire policy lifecycle, from lead generation to underwriting, demonstrates strong revenue diversification. The TruAudience® marketing solutions address the critical challenge of channel optimization, particularly important given the distinct generational preferences in insurance shopping behaviors.
The integration of traffic court data into insurance workflows represents a significant competitive advantage for TransUnion, potentially creating barriers to entry for competitors while establishing recurring revenue streams from insurers seeking to optimize their risk assessment processes.
Property insurers struggle with profitability due to delayed rate increases and natural disasters
CHICAGO, Feb. 18, 2025 (GLOBE NEWSWIRE) -- Both auto and property insurance shopping saw
While auto insurance has come close to achieving rate adequacy, the property insurance market has been constrained due to limited rate increases and losses from natural disasters, like hurricanes Helene and Milton. What’s more, 2025 is already off to a bad start with wildfires in southern California posing significant losses for insurers.
Both auto and property insurance shopping were driven primarily by consumers’ continued search for lower rates. These findings and more are included in TransUnion’s latest quarterly Insurance Personal Lines Trends and Perspectives Report.
“The current market provides great potential for acquisition,” said Patrick Foy, senior director of strategic planning for TransUnion’s Insurance business. “The best moves insurers can make to procure high quality prospects is to use data segmentation enabling them to market to the best potential customers.”
Traffic court data proves indispensable
Driving record information is one of the most predictive variables for assessing an individual across the policy lifecycle. Legacy approaches, like referencing state motor vehicle records (MVRs), can have gaps and limitations—and are expensive to obtain.
However, traffic court records cost significantly less to access, and they provide a more comprehensive picture of a driver’s past violations. For example, TransUnion’s latest report estimates that
Insurers who access traffic court data through solutions like TransUnion’s TruVision™ Driving History solutions suite, can improve the quality of leads and increase customer lifetime value. These solutions can be deployed at any time across the policy lifecycle.
In addition, understanding generational preferences can help insurers be effective across channels. While younger shoppers prefer a seamless digital experience, Baby Boomers still prefer the phone channel for discussing policy details. TruAudience® suite of marketing solutions can help insurers with identity resolution, audience building and measurement.
Read the latest Insurance Personal Lines Trends and Perspectives 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 July 2023 to December 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 | |
| Telephone | 312-972-6646 |
FAQ
What was TRU's reported insurance shopping growth in Q4 2024?
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