The Indian auto insurance market has evolved rapidly in recent years. This transformation is primarily driven by the increasing impact of: digital technology and shift consumer preferences. As Indians increasingly search for insurance questions and concerns on Google Search, the importance of resolving issues online has become abundantly clear.
To understand search intent in the car insurance market, we turn to valuable sources of information. Search trend report From one of the best digital marketing agency.
Data on search trends provides valuable insights to car companies by revealing current consumer interests, behaviors, and preferences, allowing them to create targeted and personalized marketing strategies. I'll make it.
Insights into changing trends: How the car insurance market is evolving online
Auto insurance market analysis
Indian auto insurance market is set to reach next size 1.53 trillion by 2028, It is driven by the presence of large companies and high demand for insurance policies.
With the spread of the Internet, the way people make choices is also changing.
Whether it's insurance policies, coverage, or plans, people now rely on online searches to make smart insurance decisions. Therefore, car companies that understand the needs and requirements of their target market will ultimately win the game.
Auto insurance market trends
by search trends Report on car search trends in India published by Techmagnatemore and more people are using online searches as a starting point to get answers to their questions.
For example, the total number of searches for keywords related to “auto insurance” is 11.21% in comparison between FY2023 and FY22.
Additionally, the 2023 auto insurance search landscape has seen an increase in search volume (the total number of searches performed by users).this growth (45.56L in 2023) Primarily caused by the introduction or increased interest in. 'new' Keywords for insurance inquiry types.
This trend can be attributed to a variety of factors, including changing consumer preferences, the introduction of innovative insurance products, evolving market dynamics, and other external influences.
Top 10 car insurance aggregators
List of top car insurance companies in India based on search volume.
Auto Insurance Market Insights
1. Four-wheeler: The number of searches for four-wheeler insurance increased from 12.92 million in 2022 to 13.83 million in 2023, an increase of 7.01%. Four-wheeler searches accounted for 27.07% of all searches.
2. Motorcycle:The number of searches for motorcycle insurance decreased from 13.42 million in 2022 to 12.69 million in 2023, a decrease of -5.42%. These accounted for his 24.85% of all searches.
Unknown vehicle types: In 2022, there were 19.57 million searches for unknown vehicle types. This category saw significant growth in his 2023 with 24.55 million searches, a significant increase of 25.46%. Searches for unknown car models accounted for the largest share at 48.08% of all searches.
The data shows that searches vary by vehicle type, with searches in the “unknown” category seeing the most significant increase. This may indicate a change in user interests, or a wider range of car types being searched, as exemplified by queries such as “Policy Bazaar car insurance.”
3. Additional services for car insurance:Over the past year, the top 10 insurance add-ons have seen various changes in how often people search for them. Some types of insurance, such as comprehensive insurance, roadside assistance, and accident insurance, have become more popular and have seen an increase in searches. However, the number of people searching for insurance claim settlement rates has decreased slightly.
These changes reveal that what insurance buyers are looking for is changing over time.
Four. Car insurance market by city:When looking at the number of people searching for car insurance in different cities, the top six cities saw an increase of 8.19%. In his next 10 cities he only saw an increase of 2.66%, while the remaining cities saw a huge increase of 42.69%. Overall, the data shows an 11.21% increase in searches for auto insurance across all cities, highlighting the growing demand for this type of insurance.
Five. “Nearby” search:Near-me search indicates that the user is looking for local or nearby auto insurance companies, offices, and service options. This report shows the contribution of branded and non-branded keywords to nearby searches, including users searching for specific insurance companies nearby (brands) and users searching for general car insurance options. (non-brand) differences are highlighted.
6. Search for “Auto insurance app”:In 2022, there were 6.69 million searches related to the “auto insurance” app. Of these, 220 searches were for specific branded apps, and 647,000 were general app queries. This trend continued in 2023, with a total of 7.14 million searches. While the number of brand-specific app queries remained the same, general app queries increased to 6.92 million.
7. Top motor brands based on best SOV (Google)
The data below shows the percentage of top brands in Google's top five search results for car insurance queries.
Sarvesh BaglaThe CEO of Techmagnate, a leading digital marketing agency, says: “We believe in the power of data. With so many providers offering similar products, brands and marketers face stiff competition in the insurance industry. Understanding search query data This will help us develop the cutting-edge technology we need to stay ahead of our competitors.”
5 ways search trends can help you create a stronger digital marketing strategy
Now that you understand the latest car insurance trends, what’s next?
Through the insights in this Search Trends report, we evaluated the value of leveraging Search Trends and Share of Voice (SOV) for effective search. insurance marketing strategy. Let's take a closer look at how a car company can combine these search data and marketing strategies to make his SEO campaign successful.
1. customer understanding: Analyzing search trends allows the industry to better understand customer behavior and preferences. For example, if your data shows a significant spike in searches for “auto insurance renewal,” it indicates that many customers are actively seeking information and options around renewing their auto insurance policy.
This insight can help insurers better understand what their customers are currently interested in and want, allowing them to tailor their services and marketing strategies to these specific needs and preferences. Masu.
2. targeted marketing: Auto insurance search trends reveal what potential customers are looking for (e.g. “scooter insurance renewal”). The data below shows the growth rate by search volume for this keyword, so marketers can adjust their campaigns accordingly to ensure their messages resonate with their target audience.
3. Keyword optimization: This is where you can see the value of keyword optimization. Knowing which keywords are popular in searches for the auto insurance market allows insurance companies to optimize their online content, leading to increased visibility on search engine results pages (SERPs). The end result, of course, will be attracting more organic traffic and leads.
As shown in the table above, keywords such as “car insurance,” “motorcycle insurance,” and “two-wheeler insurance” have the highest search volume. Focus on these relevant keywords, Targeted content can significantly increase brand awarenessFor example, create a video about the features of bicycle insurance. “Renewal of bicycle insurance” and “Review of bicycle insurance” are the fastest growing non-brand keywords year over year, so understanding how marketers can provide value to customers in these areas is worth the time and effort. there is.
Four. Competitive advantage:By closely monitoring and analyzing these trends, insurers can proactively identify new gaps and opportunities within the market. By being proactive with search insights, whether it's introducing innovative coverage options, optimizing the online user experience, or adjusting marketing efforts to the latest trends, insurers can simply meet customer expectations. You can often exceed it.
Ultimately, this strategic approach can strengthen our market position, increase customer trust, and gain a deeper foothold in the competitive Indian auto insurance market.
Five. local strategy: Leveraging insights from auto insurance trends to develop content that meets the needs of local consumers can be a successful strategy. This approach is particularly beneficial for insurance companies looking to establish a strong local presence. Businesses can reach local customers and increase engagement by optimizing online content with location-specific keywords and information, such as Google Business Profile (GBP) listings to connect with local insurance agents. can do.
This strategy allows insurers to tailor their products to the specific preferences and requirements of local markets. It can also increase visibility and accessibility for potential policyholders looking for insurance solutions nearby.
Leveraging search trends is rapidly becoming an imperative for insurance companies, including auto insurance companies in India. Viewers are looking for products that may or may not currently exist, but these auto insurance trends reveal exactly what people need.
For more information about the Auto Insurance Market Search Trends Report and to work with a trusted insurance digital marketing agency, please contact us below. engineer. Use this search trend report to improve your brand's visibility online.
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