That’s according to TransUnion’s “Auto Insurance Shopping Index,” which found that 21.7% of consumers shopped for personal auto insurance in 2018, versus 20% in 2017. With 44% of their cohorts shopping, Millennials and Generation Z consumers shopped for auto insurance than other ages.
The reason? Digital distribution and marketing seem to be huge drivers to increase shopping for Millennials. According to David Drotos, VP of insurance solutions at TransUnion, “Technology is fueling the experimentation and development of new business models for insurance that cater to the Millennial lifestyle.”