| In 2005,
Forrester Research surveyed approximately 60,000 households
to identify the effect of online shopping for auto and life
insurance.
The results showed that shopping online is an increasing
trend with insurance placing top on consumers’ agenda. This
can also apply to Property & Casualty and Commercial
Lines.
Forrester found that auto and life insurance applicants
do 16% and 9% of their research and applying online, respectively.
Some notable standout trends (compiled from various sources)
include:
- Auto insurance seekers are the most active
- Experienced internet users play a dynamic role in purchasing
insurance online
- Average online shoppers are extra cautious when dealing
with identity theft, fraud, and insurance
- Regular internet customers expect instant gratification
(within 6 hours)
- Internet insurance quote seekers submit their quotes
to multiple websites, creating competition for your business
Forester's Report titled "Online Insurance Shopping Grows
With Online Tenure" can be purchased
and downloaded here. |
