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US Auto Insurance Shopping Remains Strong in First Quarter, New Policy Growth Up

May 21, 2025 By CollisionWeek Editor Leave a Comment

U.S. auto insurance shopping grew 16% year-over-year in the first quarter of 2025, while new policy growth reached 8.4%, according to data released Monday by LexisNexis Risk Solutions. The figures represent a slight decline from the previous quarter but remain at elevated levels, with nearly half of all policies in force, at 46%, having been […]

Filed Under: News Tagged With: Auto Insurance, LexisNexis Risk Solutions, Policies in Force

Sony Honda Mobility Partners with MOTER to Launch Insurance Solutions

January 27, 2025 By CollisionWeek Editor

Sony Honda Mobility of America Inc. (SHMA) announced a partnership with MOTER Technologies, Inc. (MOTER), a leading of edge computing data science software for automotive insurance, to develop automotive insurance plans and services for AFEELA vehicles in the United States. Leveraging MOTER’s advanced data analytics capabilities and extensive expertise in insurance programs and partnerships, SHMA […]

Filed Under: News Tagged With: Agreements Signed, Auto Insurance, MOTER Technologies, Sony Honda Mobility

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

November 21, 2024 By CollisionWeek Editor

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 […]

Filed Under: News Tagged With: Auto Insurance, LexisNexis Risk Solutions

Auto Insurance Shopping Increased 19% Year over Year in the Third Quarter

November 15, 2024 By CollisionWeek Editor

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 19%, while property insurance shopping rose 16%, compared to the same time in 2023. Auto insurance shopping increased across generations, though, not equally. Baby Boomers shopped […]

Filed Under: News Tagged With: Auto Insurance, TransUnion

Hurricane Helene and Milton Damages Will Significantly Impact Profitability of U.S. Insurers

October 23, 2024 By CollisionWeek Editor

Auto insurance premiums likely to increase in affected markets. According to GlobalData, the data and analytics company, recent hurricanes Helene and Milton that have struck the U.S. resulted in widespread devastation, claiming hundreds of lives and causing huge property damages that will impact profitability at property casualty insurers. Hurricane Helene, which struck Florida’s Big Bend […]

Filed Under: News Tagged With: Auto Insurance, Claim Frequency, Disaster Relief, Global Data

U.S. Auto Insurers’ Strong Performance Recovery to Continue Through 2025

August 15, 2024 By CollisionWeek Editor

Fitch Ratings says premium increases and moderating claims severity benefiting auto insurance companies. The improving, more favorable mid-year 2024 results of U.S. personal auto insurers are likely to continue through the end of 2024 and into 2025, Fitch Ratings says. Several rounds of material price increases and a moderation of claims severity trends has vastly […]

Filed Under: News Tagged With: Auto Insurance, Cincinnati Financial Corporation, Combined Ratio, GEICO, Net Written Premiums, Progressive Insurance, State Farm, The Hartford

Auto Insurance Shopping Continued to Rise in Q2 2024

August 13, 2024 By CollisionWeek Editor

TransUnion reports shopping increased versus 2023 even as rates stabilized. Auto insurance shopping volume set a new record for the second consecutive quarter, according to new research from TransUnion (NYSE: TRU). The number of U.S. consumers shopping for auto insurance was up 7.4%, compared to Q2 2023 (YoY). This trend has been driven in recent […]

Filed Under: News Tagged With: Auto Insurance, TransUnion

Georgia Personal Auto Insurance Among Least Affordable States in the Country

August 8, 2024 By CollisionWeek Editor

Claim litigation, uninsured motorists a growing concern, according to IRC Study. Georgia’s personal auto insurance affordability has deteriorated in recent years, climbing the ranks of least affordable states over the past decade and a half, according to the new report Personal Auto Insurance Affordability in Georgia, by the Insurance Research Council (IRC), a division of […]

Filed Under: News Tagged With: Auto Insurance, Georgia, Insurance Research Council

Trust Top Driver of Customer Satisfaction for Auto Insurance

June 11, 2024 By CollisionWeek Editor

J.D. Power finds that as premiums continue to rise, fewer than half of customers trust their insurer. With U.S. auto insurance rates up 11.2% on average during the past year—and insurers still losing an average of five cents on every dollar of premium they collect—sky-high premiums do not appear to be leveling off anytime soon. […]

Filed Under: News Tagged With: Auto Insurance, Customer Satisfaction, J.D. Power

Triple-I Reports Personal Auto Profitability Heading in the Right Direction

June 11, 2024 By CollisionWeek Editor

Personal auto insurance underwriting profitability appears to finally be headed in a positive direction after recent years of record underwriting losses, according to the Insurance Information Institute (Triple-I). “Auto insurers’ 2023 net combined ratio of 104.9 is 7.3 points better than 2022. Additionally, 2023 net written premium growth of 14.3% is the highest in over […]

Filed Under: News Tagged With: Auto Insurance, Combined Ratio, Insurance Information Institute, Profitability

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