Leading carriers to continue focus on renewal and retention.
According to the LexisNexis Insurance Demand Meter, high demand for new policies in the first quarter showed consumers are still not resigned to higher rates as insurers continue to adjust strategies to retain customers for long-term growth.
Key findings of the most recent report include:
- S. consumer auto insurance shopping activity registered as “Hot” on the LexisNexis Insurance Demand Meter, as quarterly year-over-year shopping grew 2.9% for Q1 2024 (slowing slightly from last quarter’s 4.7% increase year-over-year).
- The quarterly year-over-year growth for new policies was “Sizzling,” up 8.7% for Q1 2024
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