Myths of the Mobile Insurance Shopper Debunked

Research Finds No Differences Between Desktop and Mobile Consumers

Cambridge, Mass., June 17, 2015 – EverQuote Inc. analyzed quote requests over a 5-month period to determine whether or not the use of a mobile device or desktop computer affected auto insurance shopping behavior. Although some believe that the mobile consumer has different behavior or intentions, the data says otherwise. 

The research shows that consumers of similar ages that shop on mobile devices for auto insurance are no different than desktop consumers of the same age. The key findings include:

  • Consumers shopping on mobile devices have the same intent to request quotes and buy coverage as desktop users.
  • Mobile consumers are more likely to complete the typically extensive quote request form for auto insurance than desktop users.
  • The amount of coverage requested has nothing to do with how the coverage was requested (mobile or desktop) – it is consistent by age.
  • At 29, the median age of mobile consumers is higher than the typically assumed 18-25, though still significantly lower than desktop users.

 

Median Age of Online Auto Insurance Consumers Mobile vs. Desktop

Based on consumers visiting the EverQuote marketplace from January 2015 to May 31, 2015

One of the more surprising data points of the research was the age of mobile consumers. Most people assume that the majority of mobile consumers would fall between the ages of 18-25. Here’s what we learned:

  • The median age of mobile insurance consumers is 29 years old.
  • The median age of desktop insurance consumers is 36 years old.

In addition, several common myths about online consumers were debunked as we dug into this data.

Myth #1: Mobile consumers are worse drivers

It is commonly assumed that mobile shoppers have more claims and violations. So it’s tempting to create a theory that consumers that use mobile phones for shopping may also be unsafe drivers based on the data.  However, when you account for the age of the consumer, there is no significant difference between mobile and desktop users in claims and violations.  

Mobile device consumers are a growing and valuable source for insurers.

Myth #2: Mobile consumers won’t fill out long quote request forms

Mobile consumers that shop on the web are just as interested in obtaining quotes as desktop consumers. Despite the smaller screen size and lack of full keyboard, mobile consumers are actually 17% more likely to complete a full quote request form than desktop users.

Myth #3: Mobile consumers request less coverage

It is true that younger consumers using mobile devices request lower coverage than older consumers; but our research shows that this has nothing to do with whether a mobile device or a desktop was used. All ages, regardless of device type, were consistent with one another across the board.

Myth #4: Mobile Insurance consumers are a small part of the market

37% of traffic to EverQuote web properties is from mobile consumers. This number has doubled in the past 11 months.

Myth #5: Mobile consumers don’t own homes

A common belief in the industry is that mobile consumers are less likely to own homes.  However, once you account for age, there is no useful difference.  Home ownership is very dependent on the consumer’s age.

Consumers arriving from mobile devices should get the same range of options, pricing and coverage as they do from desktop or by offline methods.  Since there is no connection between intent, coverage or claims history by device type, insurance providers should seek to leverage mobile as a growing source that provides quality online consumers. This data shows that mobile and desktop consumers are both valuable to insurance providers looking to serve them.

“Mobile is a great and growing way to reach online consumers effectively.  We’re seeing more and more consumers shopping via mobile every quarter.  EverQuote’s ability to unite consumers with local agents and carriers with the most relevant range of competitive rates and coverage options for their particular profile regardless of device type is unparalleled,” said Andrew Ressler, EVP Consumer Products at EverQuote.  “We’ve developed a world class consumer experience on mobile, so insurance shopping is a win-win for both the consumer and providers. Small and large insurance providers should make mobile a part of their digital marketing strategy.”

 

About EverQuote

Started in 2011, EverQuote, Inc. operates the leading online auto insurance marketplace in the U.S. The company’s proprietary data and technology platform unites agents and carriers with prospective customers in a seamless online experience that delivers great rates and coverage for consumers while maximizing sales rates for auto insurance providers. EverQuote ranks No. 70 on the Inc. 500 fastest growing private companies and is one of the highest growth companies in Boston history. The company was founded with the vision of applying a scientific, data-driven approach to help consumers find the best price and coverage for their individual insurance needs. For more information, visit www.everquote.com.