LexisNexis Reports New Auto Insurance Policy Volume at Record Levels in Third Quarter as Consumers Shop for Better Rates

For the second consecutive quarter, the LexisNexis U.S. Insurance Demand Meter recorded “Nuclear” levels of auto insurance shopping and new policy volumes, while the latter set a new record for growth since LexisNexis Risk Solutions first began tracking U.S. insurance consumer shopping behavior more than a decade ago.

Insurer-led marketing programs fueled activity among price-sensitive consumers who responded in droves to industry rate-taking. At the end of the quarter, nearly half (45%) of the U.S. policies-in-force were shopped at least once in the preceding 12 months, a result of the continued escalation of activity the market has witnessed over the