Rocket Fuel, a company offering artificial intelligence advertising applications for digital marketers, has released a report that shows 10 percent of consumers will change insurance providers in the next six months, with price being the most likely factor (49 percent) in the decision to change providers, followed by reputation (17 percent).
The study surveyed 1,026 consumers in May on top-of-mind awareness for insurance providers in the auto, homeowners’ and life insurance sectors, as well as general attitudinal questions about insurance. Top-of-mind awareness is correlated with market share for both auto insurance (0.83) and homeowner’s insurance (0.87).In the auto insurance sector, GEICO (21 percent), State Farm (19 percent) and Allstate (16 percent) lead top-of-mind awareness.Cross-channel ad spend was a predictor of top-of-mind awareness for auto and life insurance providers.
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