The auto insurance market in 2024 is not friendly to consumers. Providers, perhaps in an effort to mitigate rising loss ratio, have increased premiums by 26% in the past year, with plans for these costs to remain elevated through 2025. Consequently, consumers have flocked to auto insurance shopping sites and quoting portals to hunt for the provider that will impact their budget the least, with TransUnion noticing a 12% increase in shopping rates year-over-year in 2023.
The question for auto insurance lead generators and comparative raters is, beyond investing heavily in your market outreach (which is not guaranteed to succeed), how do you stand out as an exceptional product in a market that is both in demand and heavily saturated? How do you make your leads more appealing than your competitor’s leads?
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