Car insurance is an important asset to many multicultural consumers across the U.S. As such, it’s critical for brands to understand how they choose insurance companies and their path-to-purchase.
These highlights are part of our recent work exploring multicultural consumers’ attitudes and preferences towards insurance more generally, including life insurance, home insurance, and auto insurance.
https://www.collagegroup.com/wp-content/uploads/2018/03/car.jpg4631000Katie Hocksteinhttps://www.collagegroup.com/wp-content/uploads/2021/04/Collage-Group-Main_167-space.pngKatie Hockstein2018-03-28 18:02:232021-02-22 21:05:15Buying Auto Insurance? What Matters Most to Multicultural Consumers
According to the Census Bureau’s Housing Vacancy and Homeownership (CPS/HVS) survey, the U.S. home ownership rate in 2017 was 64.2%. However, this rate varies drastically when looking at home ownership rates by ethnicity.
https://www.collagegroup.com/wp-content/uploads/2018/03/house-2.png533800Katie Hocksteinhttps://www.collagegroup.com/wp-content/uploads/2021/04/Collage-Group-Main_167-space.pngKatie Hockstein2018-03-09 19:04:522019-01-02 15:50:50Perceptions on Home Insurance: Find Opportunities to Connect with Multicultural Consumers
A 2016 study by the Life Insurance Marketing and Research Association (LIMRA), estimated that 48% of U.S. households have an average coverage gap of $200,000. This unmet life insurance need adds up to over $12 trillion in total market opportunity. So how can brands capitalize on this? We examine the roadblocks that multicultural consumers face when it comes to buying life insurance, as well as opportunities for brands to connect with them across the purchase journey – pre-purchase, purchase, and post-purchase.