U.S. Auto Insurance Policy Shopping and New Business Growth Continue to Break Records in Q4 with "Hot" Readings on the LexisNexis® U.S. Insurance Demand Meter

LexisNexis Risk Solutions (RELX) reports U.S. auto insurance shopping and new business remained “Hot” in Q4 2025: shopping rose to 6.9% and new policy growth to 7.1%.

Rhea-AI Summary

LexisNexis Risk Solutions (RELX) reports U.S. auto insurance shopping and new business remained “Hot” in Q4 2025: shopping rose to 6.9% and new policy growth to 7.1%. The annual shop rate hit a record 47.1%, up 1.9 points year-over-year.

Older shoppers (66+) led growth at 11%, the direct channel grew 12.6%, while independent agents slipped to -0.1%. Industry rate filings produced an overall -0.5% rate impact.

Positive

• Shopping growth +6.9% quarter-over-quarter year-over-year
• New policy growth +7.1% quarterly year-over-year
• Annual shop rate reached 47.1% (record high)
• Direct channel shopping growth +12.6%
• Shoppers 66+ growth +11%

Negative

• Independent agent channel growth fell to -0.1%
• Industry-wide rate impact was negative at -0.5%

Argus Feb 18 session

+0.33% close to close Open Argus

Details

News Market Reaction – RELX

In the Feb 18 session, RELX gained 0.33%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement underscores continued strength in U.S. auto insurance activity, with shopping up 6...

Analysis

This announcement underscores continued strength in U.S. auto insurance activity, with shopping up 6.9%, new policies up 7.1%, and an all-time-high 47.1% of policies-in-force shopped in the prior year. It reinforces LexisNexis Risk Solutions’ role as a data and analytics provider to carriers navigating shifting rate environments. When assessing impact, investors may watch how sustained demand, channel mix changes, and rate trends influence adoption and usage of RELX’s insurance-focused solutions.

Key Figures

Shopping growth: 6.9% New policy growth: 7.1% Older shopper growth: 11% +5 more

Shopping growth

6.9%

Quarterly year-over-year U.S. auto policy shopping growth in Q4 2025

New policy growth

7.1%

Quarterly year-over-year new auto policy growth in Q4 2025

Older shopper growth

11%

Shopping growth for policyholders aged 66 and older in Q4 2025

Direct channel growth

12.6%

Shopping growth via direct distribution channel in Q4 2025

Exclusive channel growth

5.3%

Exclusive agent channel shopping growth in Q4 2025

Independent channel growth

-0.1%

Independent agent channel shopping growth in Q4 2025

Annual shop rate

47.1%

Policies-in-force shopped at least once in prior 12 months as of Q4 2025

Overall rate impact

-0.5%

Industry rate impact from Q4 2025 rate modifications

Historical Context

5 past events · Latest: Jan 29

5 events

1. Jan 29

   Product launch

   24h Move

   -3.2%

   Launch of AI-powered IDVerse identity verification for U.S. insurers.

2. Jan 27

   Regulatory progress

   24h Move

   -2.9%

   Achieved FedRAMP "In Process" status for U.S. government cloud work.

3. Jan 15

   Industry award

   24h Move

   -0.2%

   ThreatMetrix named Best Cyber Security Provider in Waters Rankings 2024.

4. Jan 13

   Market insights

   24h Move

   -1.4%

   Report on U.S. vehicle brand loyalty trends and EV vs gas dynamics.

5. Nov 20

   Program milestone

   24h Move

   -0.5%

   25th anniversary of ADAM missing-children alert program with high resolution rate.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

policies-in-force, rate revisions, rate-neutral

3 terms

policies-in-force technical

"As of Q4 2025, 47.1% of policies-in-force had been shopped at least once"

Policies-in-force are the total count of insurance contracts that are currently active and providing coverage. For investors, this is like the number of active subscriptions a company has: it indicates the steady pool of business that can generate premiums, helps gauge growth or attrition when compared over time, and signals revenue stability and future profit potential.

rate revisions financial

"In Q4, 25% of rate revisions were increases, with an average increase of +5.1%"

Rate revisions are changes made to previously stated percentages or forecasts—such as interest rates, growth or revenue projections, reimbursement or utilization rates—after new information becomes available. Investors care because those adjustments change expectations about future cash flows, borrowing costs or profit margins; like a thermostat reset that alters room temperature plans, a rate revision forces investors to revalue investments and adjust strategy.

rate-neutral financial

"Another 25% were rate-neutral filings, and 50% of rate modifications were decreases"

Rate-neutral describes a position, policy, or result that is structured so changes in interest rates have little or no effect on its value or cash flow. For investors, being rate-neutral means returns won’t hinge on whether rates rise or fall, which reduces interest-rate risk and helps isolate other factors driving performance. Think of it like using an umbrella that keeps you dry regardless of light rain or heavy downpour.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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ATLANTA, Feb. 18, 2026 /PRNewswire/ -- Shopping for U.S. auto insurance remained in high gear through the fourth quarter of 2025, according to the latest U.S. Insurance Demand Meter from LexisNexis® Risk Solutions. The quarterly year-over-year shopping growth registered "Hot", rising to 6.9% on the Demand Meter, while new policy growth also clenched a "Hot" reading, increasing to 7.1%.

Key Takeaways

• Shopping Growth Stays "Hot": Quarterly year-over-year U.S. auto policy shopping maintained its "Hot" reading in Q4 and slightly increased over the 6.4% growth seen in the third quarter.
• New Policy Growth Rises to "Hot" after Brief Hiatus in "Warm": Quarterly year-over-year new policy growth increased to 7.1%, pulling it from "Warm" to "Hot" territory and up from 2.8% growth the previous quarter.
• Older Shoppers Outpace Younger Demographics When It Comes to Growth: Policyholders aged 66 and older exhibited the highest growth rate among other cohorts, a trend that has continued for 12 consecutive quarters. In Q4, this group outpaced younger shoppers with an 11% increase in shopping growth.
• Exclusive Agent Distribution Channel Shows Positive Growth for First Time in 2025: Although the direct channel continued to outperform both the exclusive and independent agent channels with a 12.6% growth rate, the exclusive channel did see a positive growth rate, 5.3%, for the first time in 2025.

Long-Tenured Policy Holders, Standard Shoppers and Direct Channel Help Propel Growth

Consumers aged 66 and older, standard shoppers and the direct channel continued to lead Q4 2025 U.S. auto policy shopping with the highest growth rates; however, the exclusive agent channel saw notable growth, too.

Shoppers 66 and older were the most active, achieving a quarterly year-over-year growth rate of 11%. This group has consistently outpaced younger demographics in terms of shopping growth since Q1 2023. Additionally, shopping activity through the direct channel grew 12.6%, which represents a slight cooling from last quarter's 14.1% growth. Additionally, for the first time in 2025, the exclusive channel posted a positive growth rate, 5.3%, likely tied to increased ad spending from exclusive channel carriers. However, the independent channel continued experiencing a downward growth trajectory, dipping to -0.1%, the first negative growth rate since Q1 2024.

Many of these dynamics helped drive the annual shop rate to a new all-time high since the inception of the LexisNexis U.S. Insurance Demand Meter. As of Q4 2025, 47.1% of policies-in-force had been shopped at least once in the past 12 months, a 1.9-point increase from Q4 2024 and a 5.9-point increase from Q4 2023.

The Majority of Rate Filings were Decreases

In Q4, 25% of rate revisions were increases, with an average increase of +5.1%. Another 25% were rate-neutral filings, and 50% of rate modifications were decreases. This translated to an overall industry rate impact of -0.5%.¹ These changes somewhat mirrored the Top 25 auto carrier rate activity, among which 41% of rate revisions were decreases, 35% were increases and 23% were rate-neutral. Among this group of insurance carriers, the overall rate impact was -0.7%.² Together, these declining rate trends helped contribute to increased consumer shopping activity as drivers sought more favorable pricing conditions

"2025 reminded us that we're operating outside of a traditional insurance cycle. Even as the market shifts from steep rate increases to broad-based decreases, shopping and new business remain elevated," said Jeff Batiste, senior vice president and general manager, U.S. auto and home insurance, LexisNexis Risk Solutions. "In this environment, cutting rates without precision can turn today's growth into tomorrow's volatility — especially among longer-tenured customers. Insurers that keep segmentation and discipline at the center of their strategies and enact growth with guardrails should be well positioned for whatever 2026 brings."

Examining Repeat Shoppers

A LexisNexis Risk Solutions internal study examined a subset of consumers for deeper analysis, policyholders who had not shopped their policies from July 2023 to June 2024, and broke them up into two groups: those who shopped in July of 2024 – Once-Sidelined Shoppers – and those who continued to refrain from shopping– the Waited, not Baited cohort. As reported in last quarter's edition, we found that when Once-Sidelined Shoppers shopped, they were then twice as likely to shop again, particularly within the next six months, compared to the Waited, not Baited group.

In this edition, we dug more deeply into insights related to the age and tenure of these shoppers.

When it came to age, the largest demographic within the Once-Sidelined Shopper group is the 66 and older cohort, accounting for 22% of that population, compared to their representation of 16% in the total shopping population. This age group has been growing at an accelerated rate since 2024, indicating that once older shoppers are shopping, they're realizing the benefits and shopping again.

When comparing the tenure of the Once-Sidelined Shoppers to all shoppers, those with more than 10 years of tenure comprised 29% of the Once-Sidelined Shoppers group, compared to the 19% they accounted for among the overall shopping population. Longer tenured customers who were previously loyal to their insurers are now seeking better rates and are willing to shop more frequently.

Looking Ahead

Rate increases, wallet-conscious consumers and marketing programs that helped drive U.S. auto policy shopping and new business volumes broke record levels and made the final quarter more active than usual. The industry should be watching to see if the new wave of rate adjustments seen in Q4 exercise any impact on consumers' urge to shop or if recent shopping behavior has encouraged more frequent shopping.

Download the latest U.S. Insurance Demand Meter.

LexisNexis U.S. Insurance Demand Meter
The LexisNexis® U.S. Insurance Demand Meter is a quarterly analysis of shopping volume and frequency, new business volume and related data points. LexisNexis Risk Solutions offers this unique market-wide perspective of U.S. consumer shopping and switching behavior based on its analysis of consumer shopping transactions since 2009, representing nearly 90% of the universe of U.S. insurance shopping activity.

About LexisNexis Risk Solutions
LexisNexis® Risk Solutions harnesses the power of data, sophisticated analytics platforms and technology solutions to provide insights that help businesses across multiple industries and governmental entities reduce risk and improve decisions to benefit people around the globe. Headquartered in metro Atlanta, Georgia, we have offices throughout the world and are part of RELX (LSE: REL/NYSE: RELX), a global provider of information-based analytics and decision tools for professional and business customers. For more information, please visit www.risk.lexisnexis.com, and www.relx.com.

Media Contacts:
Annalysce Baker
LexisNexis Risk Solutions
Phone: +1 678.436.1579 
annalysce.baker@lexisnexisrisk.com 

¹ S&P Global Market Intelligence (and its affiliates, as applicable), January 2, 2026
² Ibid

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SOURCE LexisNexis Risk Solutions

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did RELX report for U.S. auto insurance shopping growth in Q4 2025?

U.S. auto insurance shopping growth was 6.9% year-over-year in Q4 2025. According to the company, that reading remains in the Demand Meter's “Hot” category and slightly rose from the prior quarter's 6.4% reading.

How much did new auto policy growth change for RELX in Q4 2025?

New auto policy growth increased to 7.1% year-over-year in Q4 2025. According to the company, this moved new business from “Warm” back into the Demand Meter’s “Hot” range versus 2.8% last quarter.

What is the significance of the 47.1% annual shop rate reported by RELX (RELX)?

The annual shop rate reached a record 47.1% of policies shopped in the past 12 months. According to the company, this is a 1.9-point increase from Q4 2024 and a 5.9-point rise from Q4 2023.

Which customer segments and channels drove RELX's Q4 2025 shopping growth?

Older shoppers (66+) and the direct channel led growth, with 11% and 12.6% increases respectively. According to the company, long-tenured customers and standard shoppers also contributed materially to elevated shopping activity.

How did rate filing activity affect industry pricing according to RELX in Q4 2025?

Rate filing activity produced an overall industry rate impact of -0.5% in Q4 2025. According to the company, 50% of filings were decreases, 25% increases, and 25% rate-neutral filings.

What happened to the independent and exclusive agent channels in RELX's Q4 2025 data?

The independent channel slipped to -0.1% growth while the exclusive channel turned positive at 5.3%. According to the company, exclusive channel gains likely reflect increased carrier ad spending during 2025.