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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

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

LexisNexis Report Highlights Generational Risks in Drivers and Vehicles that Contribute to Higher Claim Frequencies

June 21, 2024 By CollisionWeek Editor

LexisNexis Risk Solutions released its 2024 U.S Auto Insurance Trends Report, which aggregates annual market data about consumer driving patterns, auto insurance shopping trends, claim frequency and severity, and consumer responses to rate increases to help insurance carriers better understand the evolving trends impacting the U.S. auto insurance industry. Key takeaways Risky driving behavior rises […]

Filed Under: News Tagged With: Claim Frequency, Claim Severity, LexisNexis Risk Solutions, Total Loss

U.S. Consumers Continue to Switch Auto Insurance at Higher Rates

May 16, 2024 By CollisionWeek Editor

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. […]

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

U.S. Consumers Continue to Shop and Switch Auto Insurance at Higher Rates

February 22, 2024 By CollisionWeek Editor

According to the LexisNexis Insurance Demand Meter, a “Hot” Q4 2023 spelled continued rate increases, along with improved combined ratios, and now opens a window for insurers to capitalize on continued shopping as they seek a return to profitability in 2024. Key takeaways from the fourth quarter report include: Year-over-year shopper growth showed the strongest […]

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

LexisNexis Reports Auto Rate Increases Drove 17% Growth in New Auto Policies in First Quarter

May 19, 2023 By CollisionWeek Editor

Growth likely to slow in second half of 2023 as more auto insurers raise rates. The latest edition of the LexisNexis Risk Solutions Insurance Demand Meter reports the quarterly year-over-year U.S. auto insurance shopping growth rate rose 10.2% in Q1 2023, up from +2.8% growth in Q4 2022 as auto insurers continue to implement widespread […]

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

LexisNexis Auto Insurance Trends Report Says Collision Severity Was Up 9% in 2022

May 11, 2023 By CollisionWeek Editor

LexisNexis Risk Solutions released its 2023 U.S Auto Insurance Trends Report, which aggregates annual market data about driving behaviors, consumer auto insurance shopping, underwriting and claims to help insurance carriers better understand the evolving trends impacting the U.S. auto insurance industry. This year’s report analyzes 2022 data and tracks macro-market conditions such as volatile shopping […]

Filed Under: News Tagged With: Claim Severity, LexisNexis Risk Solutions, Total Loss

LexisNexis U.S. Auto Insurance Trends Report Details Trends in the Aftermath of Pandemic-Induced Supply Shortages, High Inflation Rates, New Driving Behaviors

April 22, 2022 By CollisionWeek Editor

LexisNexis Risk Solutions today released its 2022 U.S. Auto Insurance Trends Report, which aggregates annual market data about driving behaviors, auto insurance shopping, underwriting and claims to help insurers better navigate a myriad of evolving trends impacting the U.S. auto insurance industry. This year’s report analyzes 2021 data, detailing how the industry continues to navigate […]

Filed Under: News Tagged With: LexisNexis Risk Solutions

LexisNexis Risk Solutions Partners with Shift Technology on Claim Processing Technology

December 14, 2021 By CollisionWeek Editor

LexisNexis Risk Solutions and Shift Technology announced today the two companies have entered a strategic alliance that will enable insurance carriers to seamlessly incorporate LexisNexis Claims Clarity data and analytics into Shift’s insurance decisioning artificial intelligence (AI) models, allowing carriers to better predict fraud and risk at the first notice of loss. To achieve greater […]

Filed Under: News Tagged With: Agreements Signed, Artificial Intelligence, Claims Technology, LexisNexis Risk Solutions, Shift Technology

LexisNexis Analysis Shows Advanced Driver Assistance Systems Are Reducing Loss Costs

November 9, 2021 By CollisionWeek Editor

Report shows lower auto claims frequency and loss costs on ADAS equipped vehicles. LexisNexis Risk Solutions announced a new analysis of the relationship between Advanced Driver Assistance Systems (ADAS) features and U.S. auto insurance claims, which counters common insurance industry sentiment that ADAS repair costs offset ADAS loss cost benefits. The results are featured in […]

Filed Under: News Tagged With: Advanced Driver Assistance Systems, Claim Frequency, Claim Severity, LexisNexis Risk Solutions

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