Online insurance shopping increases as economy falters

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A recent poll conducted by TNS Compete and Google reveals that even as car buying decreases, online shopping for insurance has experienced a surge as consumers go the web to find the best insurance rates available. The volume of online shopping for insurance increased by 17% from the same time period during the previous year.

The study followed the online search for insurance by 2 million U.S. consumers between January and February of this year. According to MediaPost, online behaviors for the thirty days prior to a purchase were examined, and a clickstream analysis was conducted.

Information not previously available to marketers regarding users’ search prior to a conversion was also obtained. Results include the following:

  • Most consumers apply for auto insurance online
  • Search is the second-most-used resource after issuer Web sites
  • “Low cost” ranked higher than reputation of brand as  “the most important factor in auto insurance choice”

Read more about the study of online insurance shoppers by Google and TNC Compete.

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