108 0 Kommentare Inflation Drives 33% Surge in Auto Telematics Adoption in First Quarter of 2022 - Seite 2

Throughout 2021, year-over-year property insurance shopping rates remained extraordinarily high in response to a white-hot housing market. However, as the first quarter of 2022 unfolded, those rates trended negative on a YoY basis—the result of an increase in mortgage interest rates, combined with higher home prices and limited inventory.

By contrast, auto shopping rates were depressed throughout 2021 due to supply chain shortages. Initially, this market began 2022 below 2021 levels; however, by March, shopping was closer to even with the previous year. This bounce-back was driven by two factors: increased shopping in search of lower premiums and a boost of funds from tax returns that enabled more consumers to shop for automobiles.

“It appears that auto and property insurance industries found some equilibrium this quarter, after a tumultuous 2021,” said Jackson. “Inflation is projected to continue through 2022, which will likely have the dual effect of pricing out consumers from new homes and vehicles while motivating them to seek out more affordable coverage.”

For additional insights into the personal lines insurance marketplace, the full report can be accessed here.

About TransUnion’s Insurance Shopping Report
The quarterly Insurance Shopping Report is based entirely on TransUnion’s internal studies. The insurance shopping trends reported are based on TransUnion’s report which is derived from TransUnion’s extensive database of credit data. It includes information on insurance shopping transactions from September 2020 to March 2022. The report focuses on the credit population, highlighting TransUnion’s data. It also explores a subset of the total insurance shopping population. The report excludes data from insurance customers in California, Hawaii, and Massachusetts, where credit-based insurance scoring information is not used for insurance rating or underwriting.

About TransUnion (NYSE: TRU)
TransUnion is a global information and insights company that makes trust possible in the modern economy. We do this by providing an actionable picture of each person so they can be reliably represented in the marketplace. As a result, businesses and consumers can transact with confidence and achieve great things. We call this Information for Good.

A leading presence in more than 30 countries across five continents, TransUnion provides solutions that help create economic opportunity, great experiences and personal empowerment for hundreds of millions of people.