PR Newswire
Continued downshift in shopping growth parallels low point seen in Q2 of 2022, while new policies see record volumes in August and September in response to continued rate increases
ATLANTA, Nov. 27, 2023 /PRNewswire/ -- The latest edition of the LexisNexis® Insurance Demand Meter reports the quarterly year-over-year U.S. auto insurance shopping growth rate declined to -1.2% in Q3 2023, down from +5.2% growth in Q2 2023 as rate increases and tightening budgets continue to impact consumers. New policy growth, or the rate at which consumers either switched or purchased new coverage, was also down from last quarter (3.9%, compared to 10.2% in Q2 2023), yet even with lower growth numbers, August and September saw record volumes of new policies.
The information provided here is not subject to any editorial processing. It is prepared fully automatically and enriched with additional information and further research options. The aim of the content is to provide information seekers with the relevant information quickly and easily. A link back to the information provider and owner ensures that the data prepared here can be compared with the source information if required. The newsboard does not show information in real time. Please contact the exchange operator for this information if required. There is no claim to completeness. High availability cannot be guaranteed. If you notice any errors in the functionality, please let us know using the "Report a Bug" form below.
RAW DATA PROCESSING means that raw data is processed without changing the content. The data is supplemented to improve the interpretation of the information in terms of usability.
Note: The newswire cross-link panel at the top allows you to quickly and easily access additional sources of information. In the terminal view, the news is filtered at company level and enables targeted searches.
On behalf of the trading community, we would like to thank the operators of the trading venues for providing information services.