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December 23, 2008 US Auto Insurance Customers Are Ready For Pay-As-You-Drive PoliciesMore Than 30 Million Potential Buyers Await US Insurersby Chad Mitchell, Peter Wannemacher with Benjamin Ensor, Courtney Tincher |
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Executive Summary
Forty-one percent of online US consumers with auto insurance are interested in a policy where premiums are determined by driving behavior such as mileage or driving carefully. Two-thirds of these interested consumers say they would likely buy a pay-as-you-drive policy. Challenges facing US carriers include lack of distribution and low consumer awareness. Forrester's Technographics® data shows that US insurers must educate customers about premium discounts and other policy features to convert these 30 million potential buyers.
This is an excerpt
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