Tag: Customer engagement

Record-Breaking Auto Insurance Shopping Trends: The Game-Changer Insurance Agents Can’t Ignore

Angela Linders
auto insurance shopping trends

The national auto insurance shopping and quoting rate reached a record high between April and June of 2024, signaling significant shifts in consumer behavior. According to a new J.D. Power report, this increased activity could have varying implications for insurance agents across the country. Record-Breaking Trends The report highlighted that May 2024 matched the ongoing study’s all-time high monthly shopping rate, with 13.5% of U.S. drivers seeking new quotes. Additionally, 4.2% of drivers switched insurers, setting a new monthly high. This intensified shopping and switching activity reflects consumers’ responsiveness to…

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Insurance and Technology: The Rise of Insurtech

Guest Author
insurtech insurance technology

The insurance industry, traditionally viewed as conservative and slow to adapt to change, is undergoing a dramatic transformation thanks to technology. This fusion of insurance with technology, known as ‘Insurtech’, is reshaping the landscape of insurance offerings, customer service, and business models. The Evolution of Insurtech Insurtech began as a response to the digital revolution that has swept across other sectors. Today, it represents a broad range of applications: from artificial intelligence and machine learning for underwriting and fraud detection, to blockchain for secure and transparent transactions, and the Internet…

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