More than a third of consumers prefer to buy auto insurance online
Insurer websites impact decisions
More than one of three consumers prefer to buy auto insurance online and the insurer’s website has a big impact on the decision-making process, J.D. Power and Associates said in a recent report.
According to the J.D. Power and Associates 2012 Insurance Website Evaluation Study, 34 percent of insurance shoppers choose to purchase auto insurance online.
Furthermore, of those who compare auto insurance rates online, the majority visit insurer websites themselves. And these visits to insurer websites have a big impact on shoppers’ ultimate choice.
“The 2012 Insurance Shopping Study shows that nearly three-fourths of all shoppers visit at least one insurer’s website, often as the first point of contact with the insurance company,” Jeremy Bowler, senior director of the insurance practice at J.D. Power and Associates, said in a statement.
Bowler stressed the importance of insurers having up-to-date, user-friendly websites.
“Insurers have a fantastic opportunity to gain shoppers, and their referrals, by providing a website that is easy to use, has a professional and engaging appearance, and is a great resource for the shopping process,” he said.
According to the study, 63 percent of online shoppers who reported being “delighted” by an insurer’s website are likely to shop with that insurer in the future. On the flip side, of shoppers who reported being “disappointed” by an insurer’s website, just 14 percent plan to shop with that insurer in the future.
According the report, shopper satisfaction with insurer websites took five factors into account: website navigation, website appearance, clarity of information, services available on the website, and website speed.
Not only is website speed important, the report noted, but providing fast auto insurance quotes is also a big part of the equation. According to the study, 72 percent of online shoppers received an auto insurance quote immediately, while 18 percent had to wait for a response and 10 percent did not receive one at all.
“An insurer that cannot provide a fast, simple quote via their website likely has a dramatically lower chance at winning that business,” Bowler said.