How to Connect with Today’s Insurance Switchers

In 2019, an estimated 28.3 million customers across four major insurers—GEICO, Progressive, State Farm and Allstate—are planning to switch insurance companies. These individuals represent a massive opportunity for challenger insurance brands to acquire new policy holders, provided they’re able to connect in a meaningful way with these individuals during their vital time of decision-making. 

So how do you connect with today’s insurance switchers? Well, you start with an understanding of the individuals you intend to engage. As discussed in this recent post, part of this understanding should include why a given insurance companies’ customers are most likely to be switching. But it goes even deeper than that. To hone your messaging, you need insights into their motivations, their values and even their day-to-day activities and hobbies.

That’s where Resonate comes in. Our real-time consumer intelligence platform gives you access to the largest proprietary understanding of U.S. consumers’ habits, preferences, purchase drivers and more. For example, when you look across the customers currently seeking to replace their existing GEICO, Progressive, State Farm or Allstate policies, you find distinct differences in their preferred forms of entertainment—differences that can inform the messaging and cross-promotions that a company employs when trying to reach these groups. For example:

• Both GEICO and Progressive switchers (audiences of 8.3 million and 4.2. million consumers, respectively) cite going to the movies and enjoying music as their top two forms of entertainment.
• State Farm switchers (a population of 9.2 million consumers), on the other hand, are more likely to cite apparel shopping as their preferred form of entertainment.
• Meanwhile, Allstate shoppers (6.6 million consumers) are most likely to cite art and photography as their preferred methods of entertainment.

With these distinctions in mind, insurance marketers would be well-served to target GEICO and Progressive switchers via messaging and partnerships that tap into their love of movies and music, while State Farm switchers are more likely to connect with messaging and promotions that tie into their love of fashion and shopping. Meanwhile, messages and promotions tied to a love of photography and the arts are most likely to resonate with Allstate switchers.