Growth likely to slow in second half of 2023 as more auto insurers raise rates.
The latest edition of the LexisNexis Risk Solutions Insurance Demand Meter reports the quarterly year-over-year U.S. auto insurance shopping growth rate rose 10.2% in Q1 2023, up from +2.8% growth in Q4 2022 as auto insurers continue to implement widespread rate increases. New policy growth, or the rate at which consumers either switched or purchased new coverage, continues to be a big story. It was up a staggering 17% for the quarter compared to Q1 2022, and also increased from 10.2% growth in Q4 2022,
