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FOR IMMEDIATE RELEASE
OLDWICK - AUGUST 31, 2015 02:28 PM (EDT)
This episode of A.M.BestTV explores how auto insurers are increasingly turning to advertising to capture business as competition in the market increases. Click on http://www.ambest.com/v.asp?v=auto815 to view the video program.
Today, advertising in the market is at an all-time high in terms of spending and creativity.
"There is continuing competition among auto insurers, especially when it comes to advertising," said A.M. Best Senior Financial Analyst Neil DasGupta. "It is estimated that every third ad on television is an insurance one."
In 2014, the total amount auto insurers spent on advertising was $5.3 billion, as compared with 2012, when $4.8 billion was spent.
Mark Friedlander, head of corporate communications at The Main Street America Group, sees auto insurers running ads constantly, due in part to wanting to gain market share in the private passenger auto and the commercial markets.
Recent episodes of A.M.BestTV include:
A.M.BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View A.M.BestTV episodes at http://www.ambest.tv.
A.M. Best Company is the world's oldest and most authoritative insurance rating and information source.