Comscore Releases 2009 Online Auto Insurance Report

Auto Insurance Consumers Increasingly Use Internet for Obtaining Price Quotes and Purchasing Coverage

RESTON, VA, April 28, 2009 – Comscore, Inc. (NASDAQ: SCOR), a leader in measuring the digital world, today released its 2009 Auto Insurance report. The 50-page report, which presents a detailed overview of the important consumer trends affecting the Auto Insurance industry, is based on both behavioral data from Comscore’s panel of one million U.S. Internet users and a survey of 2,000 auto insurance consumers. Among the many topics covered in the report are the growing importance of the online channel, on which consumers increasingly rely to obtain auto insurance price quotes and purchase their coverage, and the synergies between online and other significant channels such as local agents and toll-free numbers.

Online the Preferred Channel for Auto Insurance Quotes

The survey, which asked auto insurance consumers how they obtained price quotes when they most recently shopped for auto insurance, found that online was the most commonly used channel by a wide margin. Nearly two-thirds (63 percent) of respondents indicated they went online to obtain price quotes, followed by calling local insurance agents representing a single company (26 percent) and calling local agents representing multiple companies (25 percent).

Q: In which of the following ways did you shop/obtain price quotes when you shopped most recently? (select all that apply)
March 2009, n= 2,000
Source: Comscore Auto Insurance Survey

Response

Percent of Respondents

I went online to quote

63%

I called/visited local agents who represent one insurance company

26%

I called/visited local agents who represent multiple insurance companies

25%

I called a toll-free number for quotes

18%

Other

3%

“As with many important purchases, the online channel is often the first place consumers go to research auto insurance prices,” said Kevin Levitt, Comscore vice president. “Whether or not the consumer eventually completes the purchase online, marketers must understand that it is critical to communicate with prospective buyers at this phase of the purchase funnel.”

Consumers Increasingly Purchase Auto Insurance Online

Further data confirm that the online channel is also becoming more important to the auto insurance purchase process. While using the Internet to research auto insurance prices is commonplace, many consumers still make their purchases through their local agents. Specifically, among those who have purchased insurance within the last six months, 52 percent purchased through an agent, followed by online (30 percent), and toll-free number (12 percent).

However, the past few years have seen a marked shift in consumer willingness to purchase their insurance coverage online. Among those who purchased their auto insurance at least five years ago, only 4 percent purchased it online, while local agents handled the purchase process for 74 percent. This contrasts with 30 percent of those who purchased insurance within the past six months doing so online.

Q: How did you originally purchase your current auto insurance policy? (crossed with length of time with current insurer)
March 2009, n= 2,000
Source: Comscore Auto Insurance Survey

< 6 months

6 months – 1 year

1 year – 5 years

5+ years

Local Agent

52%

54%

57%

74%

Online

30%

29%

21%

4%

Toll Free Number

12%

13%

14%

12%

Other/Work

5%

3%

5%

5%

I do not recall

1%

2%

3%

6%

“While the online channel can reduce costs and increase efficiency for both insurers and consumers, it also removes the relationship building effect of working with a local agent,” added Levitt. “Accordingly, insurers need to find ways to cultivate customer relationships with those acquired through the online channel if they hope to solidify their brand loyalty.”

About the 2009 Online Auto Insurance Report

The Comscore Online Auto Insurance Report presents a detailed overview of the online auto insurance market, with insights into overall industry trends, the competitive landscape and key areas influencing online consumers’ decision-making process. Primary areas of focus include the effect of the weak economy on the industry, the volume of online quote requests and policy purchases, attitudinal insights into customer preferences regarding agent versus direct channel purchasing and channel preferences for policy management. The study analyzes the online behavior of Comscore’s passively-observed panel of 1 million U.S. consumers, as well as attitudinal insights from a Comscore survey of more than 2,000 U.S. online consumers conducted in March 2009.

To purchase a copy of the report, please visit http://www.comscore.com/auto_insurance_report

For additional information on Comscore Auto Insurance solutions, please contact Kevin Levitt at klevitt@comscore.com or (703) 438-2384.

About Comscore

Comscore, Inc. (NASDAQ: SCOR) is a global leader in measuring the digital world. For more information, please visit www.comscore.com/companyinfo.