Trends Report

US Auto Insurance Customers Are Ready For Pay-As-You-Drive Policies

More Than 30 Million Potential Buyers Await US Insurers

December 23rd, 2008
Peter Wannemacher, Principal Analyst
Peter Wannemacher Principal Analyst
CM
Chad Mitchell
With contributors:
Benjamin Ensor , Courtney Tincher

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.

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