Client Retention

New Big “I” survey reveals that only 3 in 10 Americans (31%) review or shop for insurance each year, with many waiting until premiums increase, major life changes occur, or coverage issues arise.

The increase in auto insurance shopping is prompted by soaring auto insurance costs, with a 22.2% year-over-year increase in the average cost of auto insurance through the end of February.

As auto insurance shopping rates rose during the fourth quarter of 2023, carrier retention rates dropped.