Consumer shopping activity on comparison shopping websites increased dramatically starting in mid-March and continued at a brisk pace into May and June, according to Jornaya and Equifax. (Provided image)
Equifax's auto insurance shopping statistics for the first half of 2020 indicate that globally, shopping activity declined during the first few months of the pandemic when compared to January levels, then recovering in June, as the graphic above illustrates. However, as with anything in the auto insurance industry, to understand what's truly been going on with consumer and carrier/agent behavior, it's all about one word: Segmentation.
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