Pain and Potential in the Auto Insurance Industry

 

 

Every business has their pain points, but if you can see your pain points and know the potential within them, your business will thrive. RingPartner conducted research in “Digital Behaviours in Auto Insurance” and found insight on consumer behavior in the Auto Insurance Industry.

Nearly 42% of respondents claimed they have searched for new Auto Insurance sometime within the past month which is a large subset of active consumers. And, 78% of respondents claimed they have searched for new Auto Insurance within the past year. It’s pretty clear from this data that Auto Insurance consumers are on the hunt and consistently looking for deals or better service in this industry

Why Are Consumers Always Searching For a New Auto Insurance Dealer?

With this many active Auto Insurance consumers searching for a new Auto Insurance dealer, one has to wonder why? Well 43% of consumers claimed to be unhappy or not satisfied with their current Auto Insurance provider. But, why are these consumers unhappy? It may be an issue that spans over several areas of customer service and experience because 28% of consumers found sales consultants uninformed while another 26% found them pushy. And, 65% of respondents had a negative viewpoint of the social media presence for Auto Insurance brands that they followed with 50% finding them dull and only 10% find them useful. With these negative statistics, Auto Insurance brands need to up their advertising creativity by providing unique and thoughtful ads.

Don't Worry, There's Still Hope!

After reading these statistics you may feel disappointed, but don’t worry - there is still hope! Auto Insurance brands have some strong factors in their favor too, and they lie in the combinations of digital and live interaction. 98% of consumers remember seeing an advertisement within the past year which means they are actively influenced by the Auto Insurance industry. And, 72% of respondents prefer to interact with a live representative and 58% believe it is important to do so. Each of these statistics show that Auto Insurance is still doing well in catching their audience’s attention. However, it shows how much a consumer appreciates the element of a conversation that is not digital. Again, it’s the power of a phone call that can make or break your business.