Published 4 days ago • loading... • Updated 4 days ago

LexisNexis® U.S. Insurance Demand Meter Shows Steady Momentum with "Sizzling" U.S. Consumer Auto Shopping and "Hot" New Policy Growth

LexisNexis Risk Solutions indicated that consumer interest in U.S. Auto insurance increased by 16% compared to the previous year, with new policy acquisitions rising 8.4% during the first quarter of 2025.
This growth followed a prior three-quarter streak of extreme activity driven by tax refund season, new vehicle purchases, and tariff concerns influencing consumer behavior.
Direct distribution surged 34%, outpacing other channels, while the non-standard market expanded 30%, partly due to uninsured shoppers entering with tax refunds.
Consumers aged 66 and above showed the highest level of shopping activity, with nearly a 20% year-over-year increase, likely driven by sensitivity to price changes affecting those on fixed incomes, as highlighted by Jeff Batiste.
Declining policy retention, down to 78% from 83% in 2022, may force insurers to replace lost business, potentially increasing claims frequency and stressing underwriting models.

Insights by Ground AI

Does this summary seem wrong?

20 Articles

All

Left

Center

Right

Bennington Banner

+19 Reposted by 19 other sources

Center

LexisNexis® U.S. Insurance Demand Meter Shows Steady Momentum with "Sizzling" U.S. Consumer Auto Shopping and "Hot" New Policy Growth

ATLANTA, May 20, 2025 /PRNewswire/ -- After a three-quarter streak of "Nuclear" activity, U.S. consumer auto insurance shopping remained elevated in the first quarter of 2025, according to the latest LexisNexis® Risk Solutions U.S. Insurance Demand Meter. U.S. auto policy…

4 days ago

Read Full Article

Think freely.Subscribe and get full access to Ground NewsSubscriptions start at $9.99/year