Wednesday, May 21, 2008

How effective is branding in Auto Insurance industry?

Consumers want better paid claim processes, good rates, easy to understand policies and company's financial comfort to get attracted in the Insurance Industry. According to the brand equity study on Insurance Industry "Less than five people indicated that their insurance industry has never disappointed them". Geico, a well known auto insurance company has a message which claims that consumers can save 15% or more on their car insurance. I recently switched my auto insurance to All-State because of better rates. Car Rental companies take insurance from the cheapest carrier. It seems that auto insurance industries are more driven by price and rates and branding has lesser impact.

What do you think?