Millennial and Gen-Z auto insurance consumers returning to traditional personalized shopping experience offered by independent local insurance agents.
SACRAMENTO, CA, UNITED STATES, November 22, 2022 /EINPresswire.com/ — InsureKick, an information resource for auto and home insurance consumers, today published a study analyzing local insurance agents and their return to prominence within the digital personal finance market.
Local insurance agent demand returns as auto insurance carriers continue to raise insurance premiums. As inflationary pressures squeeze consumers’ discretionary income into the holiday season amidst a growing recessionary sentiment, millions of auto insurance policyholders are being displaced and pushed into the market. As a multi-generational cohort, consumers are seeking a trusted and personalized auto insurance shopping experience.
Overview of Local Insurance Agent Study:
– Rising auto insurance rates with across large direct-to-consumer and captive carriers pushes millions of consumers into market. Auto insurance premiums continue to rise and outpace inflation with a 12.9% increase over the previous 12-month period.
– Direct-to-consumer auto carriers pushing auto insurance consumers into the market with significant rate increases caused by post-pandemic claims and inflationary pricing impacts.
– Value over Hype: Local insurance agent service and value continues to outperform overly-hyped insurance technologies.
– Younger generations of Millennial and Gen-Z auto insurance shoppers returning to traditional personalized experience offered by independent local agents. Auto insurance shoppers are seeking trust-based advisor relationships with local insurance agents.
– Auto insurance is expected to remain a disjointed marketplace for the next decade. Direct-to-consumer and captive carriers are not incented or motivated to commoditize rates, brand and market share with next-generation insurance technologies.
For the full study: https://insurekick.com/find-best-car-insurance-agent-home-insurance-broker
InsureKick.com provides objective information and insights for insurance consumers researching and shopping for auto insurance, homeowners insurance, and life insurance coverage. InsureKick helps consumers find best local insurance agents and compare insurance rates quickly online.
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