Delivers Powerful Consumer Insights for Insurance Carriers and Agents
Philadelphia – October 3, 2016 – Jornaya, the fast-growing consumer journey insights platform, today introduced Jornaya Insurance Shopping Activity Index™, a new barometer of consumer shopping behavior for home, auto, life and health insurance sectors. More than 20 insurance carrier partners are using Jornaya insights data to predict a consumer's likelihood of becoming a customer and making decisions about how best to engage that consumer in the buying process, to maximize conversion rates, and to minimize acquisition costs.
“Though the insurance industry is highly adept at leveraging demographic and risk characteristics for marketing, it has struggled to develop sufficient precision in identifying which consumers are most likely to purchase a particular policy from a particular carrier,” said Jaimie Pickles, general manager, Insurance, at Jornaya. “The data behind our Insurance Shopping Activity Index helps our insurance clients unlock the value of consumer journey insights, grow profitably, improve customer retention, and increase products per household."
The Insurance Shopping Index is populated with the most timely, rich source of insight into shopping behavior, conversion, and sales outcomes. In July alone, Jornaya witnessed nearly 25 million consumer interactions related to insurance shopping in the U.S..
Insurance Shopping Activity Index Pinpoints Noteworthy Trends
Insurance shopping activity has trended upward over the past 18 months in the categories of auto, home, life, and health, according to the Insurance Shopping Activity Index. This is likely a function of consumers seeing their insurance rates go up at a pace more rapid than inflation. Rate increases spur comparison shopping activity, mostly online, with 52% of shopping taking place via mobile device exclusively.
Jornaya’s Insurance Shopping Activity Index is provided to users of the Jornaya software-as-a-service (SaaS) platform. Jornaya’s three solutions—Jornaya Intelligence, Jornaya Predict, and TCPA Guardian—provide unmatched visibility into the consumer journey and the consumer's intent with technology that is a first-hand witness to everything the consumer does across devices, browsers, and web properties.
For more findings on insurance shopping behavior and purchase intent, download a copy of Jornaya’s newest research, “2016 Consumer Journey Analysis: Dissecting the Path to Conversion” and access the company’s latest infographic, “Trends in Insurance Customer Acquisition.” The new Jornaya Insurance Shopping Activity Index will be showcased at InsureTech Connect in Las Vegas on October 5-6, 2016. Visit the Jornaya booth (Booth #302) for a demo and a complimentary copy of the study.
Jornaya is the consumer journey insight platform that provides marketers, data analysts, and compliance professionals with the highest-resolution view of the consumer buying journey. It is the only technology platform that witnesses both first- and third-party consumer interactions in real time and across devices. Meeting consumers at these moments of intent enables businesses to shorten the distance between data, decision, and action. Jornaya seamlessly integrates with any buyer journey decisioning process or toolkit.