Insurance shoppers up to 12x more likely to request a quote when consumer ratings shown
Consumers who shop online for car, homeowners or renters insurance place significant weight on the insights and independent ratings from other customers in deciding whether to engage insurance providers for price quotes.
So much of our shopping is done online nowadays. From holiday and birthday shopping to more everyday items such as toiletries and groceries, we are buying more and more online. A Pew Research study found that eight-of-ten Americans shop online and 15 percent of adults shop online on a weekly basis.
While insurance may be lagging behind other products in online purchases, the industry has seen steady increases over the past decade. With the increasing popularity of online insurance distributors and insurers selling direct-to-consumer, buying insurance online appears to be the future – at least for the less complex lines of insurance.
Given the direction the industry is headed, and the regularity that consumers read ratings and reviews before buying other products, the importance of managing customer satisfaction is at an all-time high for insurers. Clearsurance, has collected over 110,000 reviews from insurance customers, and conducted research to examine the impact and value consumer ratings have in the insurance shopping and buying experience.
The likelihood of an insurance shopper sharing their data to request a price quote increases exponentially when provided with reviews and ratings from independent customers. To access the full article and gain insights from Clearsurance’s latest consumer research, click here.