Buyers Want Seamless Insurance Purchases

Most buyers age 45 and under want to buy insurance when they buy vehicles, according to Polly survey.

Nancy Dunham, Principal Analyst/Retail

January 18, 2024

1 Min Read
Insurance
Insurance options for automobile buyers open a revenue stream for dealers.Getty Images

Auto dealers who don’t offer insurance options for their customers may want to rethink that decision.

A survey by Polly, an embedded insurance company that works with dealers and other companies to bundle their products, shows four out of five respondents -- including 80% of those age 45 and under -- believe insurance should be part of the car-buying experience. 

“Our embedded auto insurance study reveals that Millennials and Gen Z aren’t just looking for vehicles; they’re seeking a holistic buying experience that includes insurance,” says Mike Burgiss, Polly’s chief marketing officer. “The research is clear: consumer demand for integrated solutions is not a passing trend. It’s a new norm.”

Other findings from the survey:

– Car buyers want options on how to buy auto insurance. The study found 82% of respondents would make such purchases through their smartphones.

– The majority of respondents ages 45 and under – 77% – know they can shop for insurance with apps on their smartphones.

– Embedded insurance for purchases other than autos was made by 83% of survey respondents ages 45 and under.

Polly will exhibit Feb. 1-4 at the NADA conference in Las Vegas. The company’s booth number is #7338N.

 

About the Author

Nancy Dunham

Principal Analyst/Retail, WardsAuto

Nancy Dunham has written and edited for an array of dealer-centric automotive publications. Contact her at [email protected].

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