Consumers are increasingly reliant on the Internet as a channel to research and learn more about auto insurance, according to a new report from Reston, Va.-based comScore Inc., a global Internet information provider that monitors consumer behavior used in developing marketing, sales and trading strategies.
Two-thirds of all Internet users, as stated in the company's recently released "2008 comScore Online Automobile Insurance Report," and more than 80% of those who have been with their auto insurer less than a year, have used the Internet to find information about auto insurance.
One driver for this increased Internet usage for auto insurance is the abundance of advertising in the industry. Three-quarters of respondents said they would go online to solicit more information after seeing an auto insurance advertisement.
The report, which analyzes the online auto insurance market-investigating overall industry trends, the competitive landscape and the major factors influencing consumers' decision-making processes-focuses mainly on the volume of online quote requests and policies purchased, attitudinal insights into customer preferences about agent versus direct channel purchasing, traits that increase the likelihood of purchasing online, characteristics of online purchasers and channel preferences for servicing, billing and payment.
comScore's data was compiled as a result of passively observed panel behavior and insights gathered from a survey of more than 2,000 U.S. Internet users during third week of March 2008. All data and findings are specific to consumers who use the Internet.
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