A 55% decrease in the average number of miles driven – and a record 15% unemployment rate – spurred many auto insurance customers to shop for new coverage after the onset of the pandemic last year. However, shoppers found an increasingly homogenized marketplace where price was the main differentiator, J.D. Power found. According to the company’s 2021 U.S. Insurance Shopping Study, insurers’ efforts to differentiate themselves in the marketplace will increasingly hinge on bringing more innovative products and services to the market.
“The pandemic has revealed a lot about insurance shopping behaviors in 2020, as there was a significant surge