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Online Auto Insurance Purchasing Momentum Continues: ComScore

The company's 2012 Online Auto Insurance Shopping Report finds more people saying they will purchase their next auto policy online.

The constant evaluation of auto insurers' e-commerce capabilities gains some credibility with the latest Online Auto Insurance Shopping Report from Reston, Va.-based comScore, which found that more than a third of consumers say they are likely to purchase policies online in the future.

"Consumers continue to show an increasing openness to the possibility of purchasing their future policies online," says Susan Kleinman, comScore director, in a statement. "This bodes well for insurance providers who are able to meet the challenge of growing their online channels and customer acquisition strategies in the current market."

Total online auto policy purchases in 2011 were 3.1 million, a 6% increase over the previous year. Nearly 70% of shoppers reported getting an online quote in 2011.

[ 6 Auto Insurers' Quoting Sites Evaluated]

Of the 22% of consumers who said they were unlikely to purchase auto insurance online in the future — a percentage that remained stable from 2010 to 2011 — four in 10 of those consumers said there are potential features insurers could add to attract them to the online channel. These include discounts offered for purchasing online, guaranteed site security, and the ability to get a quote by providing only minimal personal information.

Nathan Golia is senior editor of Insurance & Technology. He joined the publication in 2010 as associate editor and covers all aspects of the nexus between insurance and information technology, including mobility, distribution, core systems, customer interaction, and risk ... View Full Bio

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