LexisNexis Insurance Demand Meter Shows U.S. Auto Annual Shopping Rate Continued to Rise in Q2
"During the second half of 2020, strong shopping and new business volumes were buoyed by state and federal relief programs, so it will be interesting to see how the second half of 2021 performs," said
In 2021, the boost in uninsured shopper volumes related to tax returns, which typically occurs in late-February and early-March, was pushed to late-March and early-April due to
The Young are Becoming Restless Again
In 2020, the under 35 age groups saw the biggest impacts during and following the shutdowns while the 66+ age groups saw strong volumes. In 2021, the younger age demographics are returning to expected volumes resulting in strong YOY growth numbers while volumes for older demographics remain relatively flat.
"Despite new vehicle sales suppressed by microchip shortages, reduced rate activity by carriers, and labor shortages in nearly every service industry, shopping volumes have remained surprisingly strong," said
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About the LexisNexis Insurance Demand Meter
The LexisNexis Insurance Demand Meter is a quarterly analysis of shopping volume and frequency, new business volume and related data points.
LexisNexis® Risk Solutions harnesses the power of data and advanced analytics to provide insights that help businesses and governmental entities reduce risk and improve decisions to benefit people around the globe. We provide data and technology solutions for a wide range of industries including insurance, financial services, healthcare and government. Headquartered in metro Atlanta,
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