For the first time in more than a year, overall U.S. auto insurance shopping growth registered as ‘cool’ on the LexisNexis Risk Solutions Insurance Demand Meter in the third quarter of 2023, continuing a downshifting trend that began in June.
The quarterly year-over-year shopping rate fell to -1.2% in Q3 2023 and was down from the 5.2% growth registered in Q2. In a recent report, the data analytics provider shared that the market is beginning to hurdle the high market activity that began in August 2022.
